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End Of Mortgage In Sight!!
Hi this is a new user to the site, I've tried to find a previous similar post but was bogged down!! I can see the end of my mortgage in sight now, yeeeehaaa, final payment is due in February 2009 - what is the best thing to do - should I pay it off to the final penny OR do I leave a small amount left unpaid?? I recall some…
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Should I ditch my one account? Advice needed!
Hi All I have a one account which is now on a variable interest rate of 6.55%. I am not sure where to begin with finding out if this is a good rate or not and the other issue that I have is that as the housing market is so rocky at the moment I am not sure if now is a good time to get a fixed term mortgage. I am also a…
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Is it easier to get a new mortgage if we currently have one?
Hi, Does anyone know if it is better to have a current mortgage if you are applying for a new one?? Here's the scenario..... We’re in the lucky position of having a fully offset mortgage (i.e. paying no interest) We could pay it off and be mortgage free. In about 8 months we are going to buy our ‘forever’ house and will…
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Should I cash my Endowment to Pay Mortgage?
Hi I'm a Newbie and would like some help/support as I seem to have managed to make wrong decisions (up till now?) usually with 'Expert' financial advice! I would dearly love to be totally debt free and have got rid of the cards and loans bit already and have my first ISA (Yippee) That leaves the mortgage Start: £121,000,…
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Youtube Video: You'll Like This!
US news item about paying your mortgage off quicker with overpayments. However, the guy featured spent $3500 on a piece of software to track his payments. He could have done that for nothing! :eek: Anyway, enjoy... http://uk.youtube.com/watch?v=90PgchHluM4 Ed.
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How old is everyone?
How old/what stage in life were people here at when they became an MFW? (e.g. had the Light Bulb Moment) Been lurking here for a while, my fiancee and I (24&25) have been overpaying the mortgage as much as we can (piggy bank saving), while we have two fulltime incomes (no kids yet! getting married September :D ). Stuff:…
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Mortgage free, or nearly free?
We have been paying overpayments off our mortgages and will very soon be making our final payments. I have always planned to leave £100 on each mortgage and convert them to interest only. My reasoning is that for pennies per year the BS will look after the deeds for me and as the overpayments are always available to draw…
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advice please morgage or loan?
Hi everyone, This is the first time i have written on a fourm, So i will just get on with it, We have a very low morgage (less the 17K) at the moment we have a variable rate which alows you to pay as much as you like, and has no penaltys for paying off eairly, the payents less then £200 a month and we have 11 years left,…
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How Small ?
Just a general question ,given the overrider that some banks have a minimum overpayment/repayment amount. What's the smallest amount people have overpaid each month or repay as a lump sum ? Curiosity nothing more .....
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Please ignore sorry!!
please close this sorry posted in wrong place!!
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Advice please
Hey all, As the title suggests I'm after a bit of advice please. My OH and I bought our first home together in April 2007. At the time the only way we could afford it was by taking the mortgage out over 35 years. We paid £123,500 for the house but put £12,350 deposit down. The mortgage fee's we added to the loan so the…
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Debt collector
Can anyone help me here.. Are you advised if a debt collector will be coming to your home?? I have just had someone knock at my door but I ignored it and he sat outside for 5 minutes before driving off. He did not put anything through the door. I have had dealing with debt collectors in the past but have had notes throught…
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Is this a good idea?
My brother has a £50k interest only mortgage over 10 years. He has an endowment whereby he is paying £300 a month into. He says that it has 9 years to run and is worth around £30k if he cashed it in/sold it on and is on course (so SL say) to be worth around £82k when it matures. Now I think his best bet is to cash in/sell…
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Pay of Mortgage now or keep ISA's?
Hi newbie here (so be gentle with me). We owe approx £8500 on our mortgage and expect to pay this off in about 18-24 months. I have an ISA worth about 5k and took out another for our daughter who is 7 as a long term investment. Her ISA is also worth about 5k. Should I cash in the ISA's pay off the mortgage and start new…
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Forum beginner needs help getting started
Hello, This is my first of probably many posts. I am in quite bad debt approximately £35,000 plus I have a mortgage of approx. £75,000. Basically I have viewed the site and really like what I have seen, how supportive other members are and in general how good the advice is on the site. I really need some help getting…
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What to do with £7000 lump sum?
In 2006, I started a 2-year fixed rate (8%) monthly savings account with Lloyds TSB, paying in £250/month. This is due to end in October, by which point with the interest I should have approx. £7000. (For those doing the sums, you could open the account with up to £500 before the monthy payments began.) Since opening the…
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Can't believe what a difference an OP makes!
Hi, Inspired by MSE I have made a commitment to OP my mortgage by £50 per month. its about 115000 over 23 years, just remortgaged to HSBC lifetime tracker at 0.49% above base rate (currently 5.49% total) They reckon this will save me over £11K in interest! Am amazed did not think it would make that much difference :D
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Arrears Free
Hi After several years of my disastrous money management we are now working towards a debt free life. We are aiming to clear our martgage arrearsm as we speak, can I still join. Andrina
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Getting mortgage free (or at least reduce)
I currently have quite a large mortgage (just under £210k) with 20 years to go. I'm a single income (wife currently stay at home mum) and all of our savings (excet my ISA) are in my wife's name. We have approximately £55k in total. A few other small share investments total about £3k. Now as my wife is earning interest…
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Tips on becoming mortgage free please?
Hello I have decided i want to be mortgage free asap realistically it is going to take a few years of hard work i know. We Owe £255500k on a £310K house. Have no debts at present and are in a good position to overpay. We are just in the process of moving mortage (waiting on paperwork) we are going for a 2 year tracker deal…