View Poll Results: What's the approach to your mortgage?

Voters
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  • Forget it until remortgage time

    18 33.33%
  • Overpay

    17 31.48%
  • Invest / save

    3 5.56%
  • Balance overpaying and investing

    3 5.56%
  • Offset

    5 9.26%
  • Mortgage free and luvin' it

    8 14.81%
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Thread: Mortgages: Pay down / Save / Offset?

  1. #201
    Regular Andrewt's Avatar
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    Quote Originally Posted by Steve C View Post
    I can repay up to 20% of my outstanding balance each year. But, I don't because I have a fixed low rate mortgage and the funds that could be used to overpay are instead invested at a rate of return that exceeds my mortgage rate.
    This was my approach although my funds I invest in are quite volatile at the moment so as mentioned earlier Iím putting less in the fund and more into overpayments. Takes 30 seconds to swap over again if Iím happy with the risk with the funds post Brexit.
    F80 M3. Missing a man up button and an M140i for good measure

  2. #202
    Quote Originally Posted by Steve C View Post
    I can repay up to 20% of my outstanding balance each year. But, I don't because I have a fixed low rate mortgage and the funds that could be used to overpay are instead invested at a rate of return that exceeds my mortgage rate.
    Think we have covered this before

    But unless your investments are going to double your money, consistently, I donít see how this approach can be supported

  3. #203
    Regular miller's Avatar
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    The hit that Brexit is delivering to my pension at the moment is depressing.

    Id love to be mortgage free at some point. Im one of those that cant sleep well with debt. Just the mortgage to settle of Ä120k. Id like to think I can get a lot of that gone before im 50 and still enjoy life....

    Retirment is scary, a small pension and relying on property to cash in on and move on.....
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  4. #204
    Just applied for a 10 year fixed rate, happy with it as fixes my payment for 10 years plus meaning the amount I am paying currently will be a slight increase in my over payment.

    For what it is worth Barclays allow an overpayment of 10% of the outstanding balance on its 5 year fixed rates, and a 5% of the balance on its 7 and 10 year fixed rates.

    With some quick maths if I over pay by the amount I am planning to I will need to reduce that after 7 years to keep it below 5%.

  5. #205
    Regular Steve C's Avatar
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    Quote Originally Posted by hobbit View Post
    Think we have covered this before

    But unless your investments are going to double your money, consistently, I donít see how this approach can be supported
    The rates are pretty much fixed. 1.85% for the mortgage, 4.2% from the investments.
    road: M140i
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  6. #206
    Regular Steve C's Avatar
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    A mate has been investing in cryptos recently. Currently making £3k per month from a £10k investment. But the volatility is horrendous; not for me!
    road: M140i
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