swindonmaniac
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« Reply #15 on: Thursday, June 3, 2021, 06:10:20 » |
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Apparently Nationwide are introducing 0•99% mortgage, might be worth hanging on a bit.
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Life is a Rollercoaster - Just gotta ride it.
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Legends-Lounge
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Non PC straight talking tory Brexit voter on this
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« Reply #16 on: Thursday, June 3, 2021, 07:27:10 » |
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Worth a read. If you’re adverse to or allergic to The Daily Mail swipe right, or is it left 😁
https://www.dailymail.co.uk/money/mortgageshome/article-9644093/The-perfect-home-lockdown-savings.html
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4D
That was definately my last game, honest
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I can't bear it 🙄
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« Reply #17 on: Thursday, June 3, 2021, 08:06:41 » |
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I'd imagine so. In many ways, buying a football club is a lot like buying a house .... Or making love to a beautiful woman
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4D
That was definately my last game, honest
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Posts: 22704
I can't bear it 🙄
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« Reply #18 on: Thursday, June 3, 2021, 08:10:24 » |
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Paying your mortgage off early is more of a physiological than numerical decision. Money is cheap so there's little incentive for paying off debt, but if you want to try and pay it off in 10 years, go for it.
Generally it's better to keep the term the same but then over pay to bring the term down, you never know when you might want to go back to the lower payment for a while if necessary.
It's a numerical decision for me, less interest in the long term. I try and pay a lump sum each year as there is bugger all earnings on savings.
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FreddySTFC!
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« Reply #19 on: Thursday, June 3, 2021, 16:15:51 » |
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Thank you to those who have offered their opinions.
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I have a culture, I don't stop my culture!!
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Bob's Orange
Has brain escape barriers
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« Reply #20 on: Wednesday, September 7, 2022, 07:55:24 » |
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*Bump* Our 2 year fixed rate is coming to an end in Feb 2023 where we move to a variable rate. Is now the time to be badgering the Mortgage provider to remortgage (not sure if that is the correct terminology) onto a new 2 year fixed rate in Feb? Obviously with rate rises going through the roof I figure our best plan might be to try and get fixed into a lowish rate as possible.
I did a rudimentary comparison check yesterday and have an idea of what other providers (that said they were 'small' building societies that I had never heard of) might offer but ideally would like to keep the mortgage with my current provider if at all possible.
Any advice greatly appreciated.
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we've been to Aberdeen, we hate the Hibs, they make us spew up, so make some noise, the gorgie boys, for Hearts in Europe.
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Nemo
Shit Bacon
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« Reply #21 on: Wednesday, September 7, 2022, 07:58:13 » |
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When I worked at NBS Mortgages (which was 15 years ago, so possibly useless advice), people could move off their old rate onto a new fixed term one three months before the old rate expired, but couldn't move onto the variable rate ahead of time.
It's not an ideal time for your rate to come to an end, as you've probably already worked out. Probably worth taking a look at your LTV and seeing if there's any way you can get it into a lower bracket with whoever your provider is, which might offset a bit.
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Bob's Orange
Has brain escape barriers
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« Reply #22 on: Wednesday, September 7, 2022, 08:05:25 » |
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When I worked at NBS Mortgages (which was 15 years ago, so possibly useless advice), people could move off their old rate onto a new fixed term one three months before the old rate expired, but couldn't move onto the variable rate ahead of time.
It's not an ideal time for your rate to come to an end, as you've probably already worked out. Probably worth taking a look at your LTV and seeing if there's any way you can get it into a lower bracket with whoever your provider is, which might offset a bit.
Thanks Nemo, our LTV is way below the apparent good LTV (80% I'm reading) so I assume that works in our favour?
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we've been to Aberdeen, we hate the Hibs, they make us spew up, so make some noise, the gorgie boys, for Hearts in Europe.
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Nemo
Shit Bacon
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« Reply #23 on: Wednesday, September 7, 2022, 08:14:35 » |
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80% is pretty good, there will be lower bands though. Think NBS' "best" is 60% and below, and there's a band at below 75% as well.
Depending on house prices in your area, your LTV may be better than you'd imagine. If you change provider they'll probably do a basic house valuation, your existing provider may just ask you how much your house is worth or use an average.
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