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Lowest overpayment
Hi All A silly question but I wondered how much overpayments really benefit and if there is an amount which just isn't worth it. e.g. if someone was paying £10 per month extra would this be worthwhile? pj
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How to become mortgage free on a low income
Hi , just wondered if anyone had any good tips on how to lower my mortgage whilst on a low income :confused: , when I have read storys on here people seem to be able to throw huge amounts of money at their mortgage, but due to poor health this is not the case for me . Any ideas much appreciated. thanks .
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Have I Done the right thing?
I desperately wanted to be mortgage free by the age of 40. I saved into Isa's every year and then sold a second property when it had achieved enough equity to pay off my own mortgage. Unfortunately, I did not have the courage to pay off my mortgage in full as when it came to acually handing over the money I just couldn't…
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MFW challenges
Hi all, I've just signed up to the make £10 extra a day in march challenge and thought that maybe we should have some challenges going over here - you know to liven it up ;) ! Any ideas? I'll have a think this eve. Ev x
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Capital Repayment v Overpayment Fund
I've got a Co-op mortgage and despite chatting to a lady in their call-centre i'm not certain of the the best choice when it comes to the 'title'. I'll summarise what i've been told: Capital Repayment 1. Total comes off amount borrowed immediately 2. Interest calculated on the remainder 3. Extra repayment not available for…
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Mortgage Free.......When???
I just wondered at what age do you all hope to be mortgage free by? If all goes to plan I will be 46......am 40 now and hubby will be 43......37 now.
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What do i do?
I currently have a mortgage on my flat and my boyfriend moved in in december, we are looking to buy our own place and we are saving but we do have some extra cash so do we........ throw it at the mortgage we (i) have? or save it to put on our deposit for the new house? :confused: We want to make quite a big jump house…
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offset mortgages
Hi all. i am keen to try to get rid of my mortgage and was looking at offset mortgages. Are they worth it? Basically as I understand it you are not charged interest on the value of money in your current account against your mortgage? is this right? does this change your monthly payment or the length of time it takes to pay…
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Mortgage v isa savings
I have a mortgage of 27500 at a rate of 6.5 %. isa savings to more than cover this am i best to pay of my mortgage. Then using free'd monies to reinvest into new isa's so that i'm using the tax free element of my savings .I have worked out that i would be saving approx £8500 in intrest at today's rates which would be…
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Morgage Free Motivation
Hi All New to MFW, I am about to enbark on our quest to be MF and wondering how you all keep motivated? and if you have any tips for us. I am hoping to pay of our morgage in 4-5 years which will mean i will be 33 once we have done it.
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Keep my buy to lets or reduce my mortgage?
Been fretting about what to do for a while now. Rent pays for buy to let mortgages but I am stretched to pay £800 pm on our family home mortgage - and the ISA wont cover it on maturity! I had this crazy notion of handing the rented properties to my kids in the future but should I sell and just cut my outgoings now? Is…
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Je Regrette....
By and large most MFWs are Positive Peeps:D. However, I wondered if anyone regrets anything that would have brought there MF date closer:- I Regret 1) Overpaying for insurance for years:eek: 2) Maybe staying in our last property too long:o 3) Spending too much on food for years:p 4) Not selling Friends Provident shares at…
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Who benefits from Mortgage protection insurance
I became unwell and was made redundent on grounds of ill health; I had gradually been making extra payments to reduce my mortgage: I now found myself in a possition where I could pay off the rest (saving serious money) for myself and familly , but realising that to do so would remove a significant proportion of my life…
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Mortgage Free Competition - Birds Eye
Hi If you want to be mortgage-free have a go at this competition courtesy of Bird's Eye. www.bemortgagefree.co.uk You have to buy one of their products, where you get a code. Everyday they have a £1,000 prize draw, and over the next few months, three draws for £100,000 to pay off your mortgage. Also posted in competitions…
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moral dilemma
Ok folks, I've just got a telephone balance on my Capital one CC and it was £11,524.36 in credit. Now all of you on here know how skint I am so this is not my money. I phoned up and they said it was my money as I had credited it this last week. I'm not going to spend it ( the limit is only £500 anyway) but the dilemma is…
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Offset - Best Management, help needed!
Can someone please point us in the right direction, this is our current situation and we are not sure what to do - basically to be mortgage free asap. We do not want to lose our savings by paying off a lump sum. First Direct - Offset Mortgage Interest Rate - 5.99% fixed for 2 years (1 yr 9 months remaining) Term - 25 years…
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Mortgage broker networks?
Hello I want to get a mortgage but for personal reason do not what to get one from a network of brokers, so I was wondering if any one could tell me of any other network that I have missed out:- Personal Touch Financial Services Openwork Intrinsic Financial Services Spicerhaart Exclusive Connections Are there any more for…
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whats my daily interest
how do you calculate what your mortgage interest is daily someone here once told me how but i forgot and cant find the original thread dispite serching.
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Borrowers paying more for annual interest
Interesting article in The Times this morning regarding lenders who calculate interest annually. Anybody who has an annual interest mortgage should carefully time their overpayments to be paid immediately before the date the annual interest review is done. Overpayments throughout the year should be saved in a high interest…