Over Paying A Mortgage

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Yeah that what I want. Paid of by the time I am 50 hopefully. Obviously plenty variables which could fuck that plan up but that is the aim.


Yeah I have had a look and it is amazing how smallish overpayments can knock alot off.
Some lenders let you take back your overpayments so it's win win.
 
Some lenders let you take back your overpayments so it's win win.

Mine does that at the moment (Co-Op) but looking around at new deals and there's not many available that let you do it. You can overpay but not use it as an offset. Once its gone, its gone.
 
Mine does that at the moment (Co-Op) but looking around at new deals and there's not many available that let you do it. You can overpay but not use it as an offset. Once its gone, its gone.
I'm with the Nationwide. I kept a little on so pay them 7p a month. At any time I can borrow my overpayments back. At 0.59%
 
You need to balance this up carefully when the interest rates are so low. It is a conveniently cheap debt while you can pour excess into stock ISAs with much higher returns if you have the spare cash.

Lad I know hasn't paid a penny off his mortgage, only interest. He invested everything he would have paid on a regular mortgage into higher return stuff and has made money. The sale of his house, whenever that might be, will cover the original mortgage amount plus much more.
 
You need to balance this up carefully when the interest rates are so low. It is a conveniently cheap debt while you can pour excess into stock ISAs with much higher returns if you have the spare cash.

Lad I know hasn't paid a penny off his mortgage, only interest. He invested everything he would have paid on a regular mortgage into higher return stuff and has made money. The sale of his house, whenever that might be, will cover the original mortgage amount plus much more.
That's a one way bet on the housing market. That's not clever
 
Mrs K is never off RightMove!
I suspect we'll end up moving sooner rather than later

its addictive as hell.

I sent one to the missus and she said "can you book a viewing". I didn't reply.

if I was to move then it would have to be a bit further out as I'd want some land and outbuildings
 
had a scout for a few in NE but doubt she would up sticks..

if I had to choose and allow for work then I'd probably go west country but that can be pricey if you want to be near the coast

A bit pricey? The locals can't get houses in some areas of Devon and Cornwall
 
A bit pricey? The locals can't get houses in some areas of Devon and Cornwall

I've dropped my price locally. some lovely stuff around if you can raise 1.5 million. you can pay a million for a bog standard house round here. you can get that extra half you can get into superb houses.

mental money though but plenty seem to have it

http://www.rightmove.co.uk/property-for-sale/property-59853620.html

http://www.rightmove.co.uk/property-for-sale/property-55170844.html

dropping further... another 200k knocked off

http://www.rightmove.co.uk/property-for-sale/property-65079044.html

donw to 1.3 million.. canny pool room

http://www.rightmove.co.uk/property-for-sale/property-61716431.html
 
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Hijacking this thread.

Are there any benefits to using a mortgage broker?

First time buyers with good credit ratings. Only potential issue I can see is the wife has only been in her current job for two months.
 
Hijacking this thread.

Are there any benefits to using a mortgage broker?

First time buyers with good credit ratings. Only potential issue I can see is the wife has only been in her current job for two months.

sometimes but I've found they often point you in the direction of where the most commsion is to be made but some do get exclusive deals.

check the sunday times money pages and online for best deals.

the more you can put down the better the deals generally.
 
Atom bank are doing a 5 year fix for 1.29% - £900 fee and need 60% LTV though.
That's suggesting no expectation on a big shift in interest rates for the next 5 years.
 
sometimes but I've found they often point you in the direction of where the most commsion is to be made but some do get exclusive deals.

check the sunday times money pages and online for best deals.

the more you can put down the better the deals generally.

I've looked online so I know roughly what the best deals are out there, just curious if these exclusive deals exist/are really any better?

I like the idea of them doing a lot of the work as well if it doesn't cost me anything.
 
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