[Finance] How much left on your mortgage?

[Dick Swiveller]

so once the mrs has finished school,

You might want to rephrase that!

 

[Dave the OAP]

You might want to rephrase that!

She is a TA. What’s you point funny man?

 

[Dick Swiveller]

She is a TA. What’s you point funny man?

Jesus Christ. Time of the month?

 

[Dick Swiveller]

She is a TA. What’s you point funny man?

Actually, you have piqued my interest. Did you genuinely think I was insinuating you are a paedophile? Or did you really not see it as a very, very light hearted dig at the fact that most people would see "leaving school" as someone taking their GCSEs?

 

[SK1NT]

Paid off years ago….supposed to hear that I was going be made redundant today ( didn’t happen the ********) so once the mrs has finished school, the world is our oyster and we will spend the pension money on holidays and wine ( and cruises and hotels).


Anyone want to add me as a friend and family to have my tickets when I am not there!

Fantastic... enjoy mate and congrats on avoiding redundancy although you may have wanted it, to get out that rat race.

P.s.. i think [MENTION=21477]Dick Swiveller[/MENTION] was messing... life's too short to not be friendly and nice.. NSC is a good place

 

[dadams2k11]

Only 3 payments into this mortgage so a long long way to go yet. Very envious of the mortgage free gang. Must be so liberating.

 

[Weststander]

Same position as me. Could have been mortgage free in 2 years but wanted that bigger house. Couldn't have our 2 kids eating on their laps forever. Not our dream home but considerably bigger. The saving grace to the big mortgage is that i won't ever be going bigger than our current mortgage. The only way is down. The next move will probably be a downsize and equity release... more than likely to help the kids out (although only 5 and 1 now)

1.49% nice work... i got 2.2% 5year fixed. Very happy with that considering how rates are increasing. I definately wouldn't have been able to buy if i waited a few months later with how rates are. Another rise yesterday.

Great work, the certainty of just 2.2% for that length of time. Enjoy the new home.

 

[Weststander]

That is a very good point.. i may put some thought into just adding more to the pension... the one down side is if mortgage rates are high when my mortgage term ends then i will be hit by massive monthly payments... i want my remaining mortgage to be as small as possible when my 5 year fixed ends.

Or, trickle those funds into carefully chosen share funds in ISA’s for 5 years, giving a sum to use against the mortgage capital then or save for retirement.

No tax relief on the premiums unlike pension contributions, but flexibility with the investments and matching the same growth you’d have got with the pension idea you mention. Growth quite possibly greater than 2.2%, after taking advice.

 

[DJ NOBO]

Same position as me. Could have been mortgage free in 2 years but wanted that bigger house. Couldn't have our 2 kids eating on their laps forever. Not our dream home but considerably bigger. The saving grace to the big mortgage is that i won't ever be going bigger than our current mortgage. The only way is down. The next move will probably be a downsize and equity release... more than likely to help the kids out (although only 5 and 1 now)

1.49% nice work... i got 2.2% 5year fixed. Very happy with that considering how rates are increasing. I definately wouldn't have been able to buy if i waited a few months later with how rates are. Another rise yesterday.

. I’ve also got a 5yo and a 1yo. And a five year mortgage with a near identical rate. We’re practically twins

 

[Taybha]

God bless Maggie

 

[Hugo Rune]

Only 3 payments into this mortgage so a long long way to go yet. Very envious of the mortgage free gang. Must be so liberating.

I’m sure they’d swap their mortgage situation together with their 10 or 15 years left of life for your 50 in a heartbeat!

 

[dadams2k11]

I’m sure they’d swap their mortgage situation together with their 10 or 15 years left of life for your 50 in a heartbeat!

If I live till I'm 90 then happy days. [emoji3]

 

[Westdene Seagull]

God bless Maggie

Home ownership is a bad thing ? As a mortgage holder I always wonder how people pay their rent once they have retired. The biggest problem around ownership is that too many people see their property as a way to make money rather than a home - thus driving up property prices.

 

[Uncle Spielberg]

Brighton and Hove are trying to penalise second home owners. Not sure of the details yet. We have a perfect storm of rapidly increasing mortgage rates, 1% fixed for 5 years in January is around 3% now and affordability calculators are being tightened so that mortgage lending will be much reduced which will have an impact on the property market this year

 

[Madafwo]

Just a smidge under £224k left to pay and just under a year left on a 5 year fixed term so I'm really looking forward to getting that remortgage sorted out.

My singular focus at the moment is clearing any debt that I have, rapidly clearing off a small loan I took out a couple of years ago, after that I'll over pay even more off the mortgage (currently overpaying by about £25 a month as it was a throw back when it was rounded up to the nearest hundred, we've just kept it going but it does make a surprising difference).

For the last 4 years I've been the sole income for the house but the wife is working towards a degree to go back into employment when the kids are a bit older, once that's done I'll be chucking as much as I can into a salary sacrifice pension scheme and the wife's earnings will pretty much go towards the mortgage, our view is we've done alright for the last few years so anything she brings in is essentially a bonus.

I saw this a few years ago and it has become a bit of a mantra for me.

 

[Tim Over Whelmed]

Paid off my mortgage on 1 Apr, of all days, six weeks before I got seriously ill, so lucky to be in this position, worked very hard to achieve it but still count myself lucky to have had the chance and opportunities to allow it.

 

[Tim Over Whelmed]

Brighton and Hove are trying to penalise second home owners. Not sure of the details yet. We have a perfect storm of rapidly increasing mortgage rates, 1% fixed for 5 years in January is around 3% now and affordability calculators are being tightened so that mortgage lending will be much reduced which will have an impact on the property market this year

I don't have your knowledge of the market US, but as I see it people are paying £1,300 to rent a house that would cost them £850 with a mortgage. So why don't the government make it less advantageous for people to own 3, 4 or 5+ homes, exploiting the poorest in society and maintaining high property prices? Shirley, if you paid a property tax that made it less attractive the landlords would leave the sector, house prices would fall and more could afford their homes. Those that are renting may be those that need the most help and we start to equal society a little?

 

[Uncle Spielberg]

I don't have your knowledge of the market US, but as I see it people are paying £1,300 to rent a house that would cost them £850 with a mortgage. So why don't the government make it less advantageous for people to own 3, 4 or 5+ homes, exploiting the poorest in society and maintaining high property prices? Shirley, if you paid a property tax that made it less attractive the landlords would leave the sector, house prices would fall and more could afford their homes. Those that are renting may be those that need the most help and we start to equal society a little?

Good points. We need property to be more affordable for all. Things are changing, the mortgage market is in an overhaul