I had my Mortgage Statement today.

Only £67316.58p to pay, thats if i paid it off today.

Just worked it out that i still have £87158.75p to pay with the interest

Only another 125 months @ £697.27p and i will be mortgage free

Steve.

 

Lucky you, I still owe £183,000, 29 years till I'm done.

Mind you only moved in last November

 

Well, provided the interest rate doesn't change of course....

 

Very true, but still fixed for another 2 years 6 months.

Steve.

 

think i owe about 300k yes real tears, thanks for reminding me, tho if i get a premotion ill move and owe even more

 

You lucky sod i only have £137,000 left but then again im only 28 so have plenty of time

 

Im only 36

If we had not moved 5 years ago i would have No mortgage.

Steve.

 

I hate you lot

I'm 25, and hopefully about to move into my first home, so I've not even started my 30yr mortgage, and currently owe £76,000 Plus the interest

I'm hoping tho, that if I can work hard, and save about £5k a year, I can pay a nice lump sum of it off every year to help speed up the pay back, and hopefully avoid some of the interest payments

 

Bugger me you've done alrite ay

 

Thanks

We moved in April of 2002 and my mortgage would of finished in the September of that year.

Would of just been 32 then.

Steve.

 

Fuck me! What do you do for a living (if you don't mind my asking of course)

 

ive only got 35 years @ £750 a month

 

Im a Train Driver.

I put a £20k deposit down and had a £40k Mortgage

Houses in 1992 was a lot cheaper, that was a 3 bed link detatched house that was about 10 years old. House was linked by the garage so the house was in effect detatched.

Steve.

 

only got to pay £970 a month for few more years 22 is a few please tell me it is oh go on please

 

50k to go

 

are you serious?

 

We just got 470k on mortgage but only a temporary measure to get a house done wont be staying there long. over 2.5k a month

 

Check out your terms and conditions. Some lenders will have a clause built in about where the loading is re: interest and making payments...

 

Rich - I'm allowed to overpay up to as much as £500 a month with no interest, so I reckon that if I can save £100 a week, that's about £433 a month, so I should be fine. I'm sure some weeks/months I won't be able to do it, but if I can average about £5k a year in overpayment, then I might be able to half the ammount of time to pay the mortgage back. So instead of 30yrs, I could pay it back in say, 15yrs.

 

Thats one mortgage

 

It is interest only, might buy something else before april

 

Thats more than my take home pay every month

Steve.

 

It's about twice as much as my take home! (stock pay, with no bonus/overtime)

 

There's some quite good overpayment options out there on mortgages at the moment.

The HSBC home start mortage is quite good, for the first three years you pay interest only but you can pay up to 20% over so it's quite flexible in some respects. Depends on what you need really.

Best of luck to you Thrush, paying £5K off a year now will make such a huge difference in the long term

 

I don't know how sustainable it will be MWF, but I'd like to try, just so the debt is gone sooner. Mainly cos I only own half the property, so the sooner I can pay it off, the sooner I can buy the other half, pay that off and own the entire thing.... Maybe I won't spend the rest of my life in this house (unlikely) but this is the approach I think I will take to it, as I guess the more of it (the property) I own, the bigger the profit will be on it when I sell. Also, the sooner the more capital in the mortgage is paid off, the less I will have to borrow again when I move/upgrade...?

My rough calculations tell me that if I overpay by £100 a week consistently, I could pay this mortgage off in around 15yrs (unless of course I am way off base)

 

LOL yeah why? Seeing some of the other replies on here, thats not too bad

 

TF - If I had bought all of my house, I'd be owing £160,000 and have 30yrs left on the mortgage!

I suspect you bought yur house a good while ago, and in the elepased time, prices have gone up somewhat silly? My bro has 24yrs left on hos mortgage, and owes about £150k