sjc Posted September 24, 2014 Share Posted September 24, 2014 Yeah, I'm hoping to get a bit more fired to it next year, would love it to come down to under 80% when we go to re-mortgage. Stick at it....you'll get there I've got just over 10years left on mine and am about the 50% mark.......hopeful I'll get a very low rate next time I re-mortgage. Link to comment Share on other sites More sharing options...
MONKMAN Posted September 24, 2014 Share Posted September 24, 2014 Base rate is 0.5% so I'm guessing he has a "Base Rate + 1.35% tracker mortgage" If he'd said, 'I have a mortgage rate of 1.85%' but he didn't. He was suggesting that interest rates on savings are better than current mortgage rates, which they're obviously not for everyone. Link to comment Share on other sites More sharing options...
sjc Posted September 24, 2014 Share Posted September 24, 2014 Mortgage rate is 1.85% and I'm making at least 5% per year in a stocks and shares ISA with low risk dividend paying blue chip stocks. OK, not as safe as cash ISA but over the amount of time you've had with low interest rates you'd be very unlucky to lose money. He did say his mortgage rate was 1.85%.........you've lost me Monkman! Link to comment Share on other sites More sharing options...
MONKMAN Posted September 24, 2014 Share Posted September 24, 2014 He did say his mortgage rate was 1.85%.........you've lost me Monkman! Think I miss read what was being said, I thought he was generalising that interest available on savings was higher than mortgages. Seems he was talking about his specific situation! Anyway, overpaying on mortgages is a no brainer. When I got my first mortgage 2 years ago, it was a 20 year term. I'm due for renewal in December and I've managed to effectively knock 3 years of payments off. At this rate, I'll take 13 years to clear entirely. Link to comment Share on other sites More sharing options...
sjc Posted September 24, 2014 Share Posted September 24, 2014 Think I miss read what was being said, I thought he was generalising that interest available on savings was higher than mortgages. Seems he was talking about his specific situation! Anyway, overpaying on mortgages is a no brainer. When I got my first mortgage 2 years ago, it was a 20 year term. I'm due for renewal in December and I've managed to effectively knock 3 years of payments off. At this rate, I'll take 13 years to clear entirely. Good man! Link to comment Share on other sites More sharing options...
BFTD Posted September 24, 2014 Share Posted September 24, 2014 I had what can only be described as a nervous breakdown about seven or eight years ago, and made a massive c**t of our finances during that time. As a result, I'm still paying off massive debts, and I've had to do self-employed work since (sort of) recovering because I'm pretty much unemployable. Thank Christ for Tax Credits. That said, we still usually have a hundred or two per month for more frivolous things, mainly due to the fascist financial regime I've imposed in recent years. Although we're probably screwed until Christmas now due to some minor house repairs that I had to make I think I'm debt-free in two years (well, other than the mortgage), so it's a matter of holding our breath until then. Definitely need to look at our mortgage, though, judging by this thread - I think our interest rate is 6.5% Glad to hear that most of you are doing better than us financially - hope you're having a good time You young 'uns remember to put a little away; everyone ends up kicking themselves for not doing so at some point. Link to comment Share on other sites More sharing options...
Bert Raccoon Posted September 24, 2014 Share Posted September 24, 2014 Why would you have to pay a hooker if you murder her? I don't think you're telling the truth here. I pay by card beforehand. Makes me feel slightly less guilty about slaughtering them. Link to comment Share on other sites More sharing options...
Latino Lover Posted September 24, 2014 Share Posted September 24, 2014 I get paid little more than minimum wage but back with parents for time being, don't drive, have no debt and usually average about another £500-1k a month off gambling so have plenty of money to waste. My life is tragic however. Link to comment Share on other sites More sharing options...
ayrmad Posted September 25, 2014 Share Posted September 25, 2014 I wish I had a quarter of the disposable income I apparently had when I was a mad gambler. Link to comment Share on other sites More sharing options...
EdgarusQPFC Posted September 25, 2014 Share Posted September 25, 2014 After bills I have roughly £650 to £680 left over per month. I don't own a car, or have any outstanding debts as I've never taken a loan or credit card out and I never miss any bills. Rather fortunate in that respects, although buying a PS4 this month has skint me and I'll be in my £100 overdraft before I get paid next week. Link to comment Share on other sites More sharing options...
CLANCY2KTID Posted September 25, 2014 Share Posted September 25, 2014 Roughly £650 a month usually left after paying all bills. Doing a lot of work to the house just now though, so I'm pretty much skint the week after payday just now. Hopefully have it all finished by Xmas and have some more money to hand as of next year Link to comment Share on other sites More sharing options...
CLANCY2KTID Posted September 25, 2014 Share Posted September 25, 2014 That's not taking the other halfs incoming into consideration. I pay the mortgage, bank loan, virgin media and insurances, she pays the food shopping and council tax as she's only part time now. I've no idea what she's left with but I'd guess a good few hundred anyway. A joint account wouldn't work with us as she's better with money than me so it'd be endless arguments if she could actually keep track of my insane spending habits. Link to comment Share on other sites More sharing options...
Ross. Posted September 25, 2014 Share Posted September 25, 2014 Mortgage rate is 1.85% and I'm making at least 5% per year in a stocks and shares ISA with low risk dividend paying blue chip stocks. OK, not as safe as cash ISA but over the amount of time you've had with low interest rates you'd be very unlucky to lose money. That's fair enough if you have a decent rate like you do, but I would guess most folk are on a rate of between 3.5% - 5% which would mean that unless they had a sizeable ISA balance, they would definitely be better paying down the mortgage. I hope you didn't have Tesco in that ISA of yours..... Link to comment Share on other sites More sharing options...
Tryfield Posted September 25, 2014 Share Posted September 25, 2014 I don't know how much we have. I take nothing to do with money, I just get pocket money and carry a credit card for emergencies. When I quit the cigs a year past in June, £5 per day got put away for a wee treat which was 5 days in Malaga with friends. Still got enough of that left for another trip in November. Link to comment Share on other sites More sharing options...
sjc Posted September 25, 2014 Share Posted September 25, 2014 I thought the DECE Bois would be all over this thread.... Link to comment Share on other sites More sharing options...
TheScarf Posted September 25, 2014 Share Posted September 25, 2014 I thought the DECE Bois would be all over this thread.... We are #bbz Us DECE bois are #somoney Link to comment Share on other sites More sharing options...
sjc Posted September 25, 2014 Share Posted September 25, 2014 We are #bbz Us DECE bois are #somoney Link to comment Share on other sites More sharing options...
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