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Northern Rock - "borrowing back" overpayments
We have a NR together mortgage - fixed at 5.89% until 1/12/08. We intend remortgaging in early 2009 We have recently been overpaying my mortgage and I am really chuffed about the snowball effect of my overpayments and how they are growing each month as my interest payment goes down We are planning to build andextension -…
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Dilemma / Advice
Ladies / Gents I'd like your opinion on my situaition. I decided last year I wanted to be mortgage free...mortgage then was 70k its now down to 50k through overpayments - I've worked out I can be mortgage free in 2 years time (I'll be 39years old). BUT, in this economical climate I wonder if now is the time to start saving…
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hello everyone - quick mortgage question
this may sound stoopid but here goes. we took out one 120k mortgage to buy our first house in 2005 we then paid 180k for a new house in 2007 by way of taking out an extra 47k mortgage. At highest point we owed 167k This is now down to 155k. Question is - when we remortage when the products run out in 2010, will we be…
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Paying Lump Sum Off Mortgage
We have recently moved house and took out a £28k repayment mortgage - tracker for 5 years at 7.0900%. We have been in for two months and were looking to decorate the house. However, we have approx £8000 and my sensible side is to pay it off the mortgage now. We are allowed to pay 10% of the outstanding balance per annum…
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offsetting savings against mortgage
Hi, I am new to this so any advice would be much appreciated. My fixed morgage with Halifax is coming to an end on 31st July 2008. My outstanding mortgage ballance is appr.59000. I have also got savings accounts (both ISA and IASA) with the total of 51000 pounds. As Halifax does not offer offset facilities, I decided to…
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C&G Overpayments
I have just taken out a C&G repayment mortgage (base rate +0.58% tracker). I want to start making monthly overpayments and can apparently do this on one of two bases: 1. Payments which do not decrease the mortgage's term but instead reduce the monthly payments due next time the interest rate on the mortgage changes; or 2.…
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Halifax Re-mortgage
I am after a little advice here. I am coming to the end of my fixed rate mortgage with Halifax and had decided to stay with them but move to another fixed rate they are offering. They sent me through all the key facts for their mortgage which is at a rate of 6.19% fixed for 3 years with a £699 product fee. After much…
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How big was your deposit?
I am intrigued as to how much deposit people can afford to put down on a house as we're currently saving for a deposit ourselves. So thought Id do my first poll... (I saw the interest rate thread and thought it was a useful thread!) :money:
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Mortgage and savings
Hi all, I'm brand new to the forum so am hoping for some help. I've only had my mortgage for around 2 months but I want to get rid of this £104,000 as quickly as possible. I'm with Mortgage Express and pay a rate of 6.99% fixed rate for 2 years. I pay £150 out of my wages to a sharesave scheme with the bank I work for and…
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Mortgage calculation help please!!
Hi all ! I am hoping some one may be able to help me work out some figures please.I have fiddled around with several calculaters with no concrete result-basically we have a 12 yr £50000 mortgage at 5.72% fixed for 3 yrs,started April 08.We are hoping to pay 10% of balance annually in next 3 yrs, ie, £5000 in first…
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Mortgage tool
Is there any such downloadable tool/website that will enable me to enter:* my mortgage amount, * months left, * (introductory/initial ) interest rate, * (main) interest rate, * date of change from intial to main rate... ....so it would allow me to see:* each months payments, * how much of that is interest * how much is…
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Which mortgage type?
Hi, I'm new to this forum and wondered if anyone could help me please? I currently have a fixed rate mortgage with the Abbey (4.69%), which is due to finish at the beginning of November. I was wondering if, due to the current high interest rate, it would be best for me to go for me to go for a rate matcher mortgage, such…
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Is there a Mortgage overpayment calcultor?
I'm making small overpayments at the moment, but I'd like to see how they're affecting the term (without having to phone the Woolwich every time I change them). Does anyone know of a calculator that can help me estimate the effect of overpayments?
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Do I have my Mortgage where I want it?
Guys I'm in a very fortunate position in having a lump sum in my savings account that is equal to my outstanding mortgage. The wife tells me I should redeem the mortgage debt in full. Whilst I agree, I'm reluctant to bid farewell to this sizeable sum. I'm considering an off-set in an attempt to effectively establish a…
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Paying off part of mortgage - help please!
We're in the fortunate position of being able to pay off a large chunk of our mortgage but don't really know which way to go. Our outstanding mortgage is around £60,000. Half of this is on interest only, the other half on repayment. We are on a fixed deal until next may at 4.64% with the Nationwide. We want to pay off…
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Pay off BTL mortgage and then overpay offset mortgage??
Please bear with me, this is all new to me! We have a property that is currently being rented out: Mortgage : £45 k outstanding (19 yrs remaining) Paying : £400/month (overpaying £80) Term : 2 yrs remaining (4.99%) Our property - Offset Mortgage Mortgage : £109 k, £106 k outstanding (24.5 yrs remaining) Paying : £750 /…
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Question..abbey Flexi Offset Tracker
Hi everyone..wondered if you would be kind enough to help me? I took out a Abbey lifetime tracker offset mortgage that I can overpay on by as much as I like.As soon as my CC debt is gone I intend to have my mortgage paid off within 3 years. I have just registered the account online(and did that fine..I'm a bit useless with…
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Calculate Outstanding in 2010?
Hi Everyone, I wondered if someone would be able to help me calculate how much will be oustanding on my mortgage when the fixed period of 5.29% ends in May 2010? As of the end of April this year the outstanding balance was 142,459.11GBP. I am currently paying 1,200 per month (this is an approximate overpayment of 350GBP…
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New Mortgage-Free-Wannabe looking for advice...
Hi All, Firstly, CONGRATULATIONS to all those who are Mortgage-Free already or on their way there - I'm sooo jealous but I hope to join you in a few years time! I've been lurking around for a while and now, having paid off all other debts - YIPPEE! - I've been bitten by the Mortgage-Free-Wannabe Bug! I've got £200,000 left…
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over payments
Hi All I have just put my house up for sale as we are looking to move to a bigger house, i don't know whether to make overpayments until the house is sold (because in todays market it could take a while),or just save the money. Any suggestions would be welcome Thanks