Mortgage Rate Rises

Probably not going to win me any friends in this thread but we've just paid our mortgage off fully 38 months early. :D

It was cheaper to pay the early redemption charge of £300.00 rather than pay the £80.00 per month interest fee's they were charging over the course of the next 38 months.
Congrats :)

Hoping to pay ours off in the next month too.
 
Probably not going to win me any friends in this thread but we've just paid our mortgage off fully 38 months early. :D

It was cheaper to pay the early redemption charge of £300.00 rather than pay the £80.00 per month interest fee's they were charging over the course of the next 38 months.
Excellent. Ignore the envy and the naysayers. People can say what they like about overpayments vs investments etc etc etc but we need to remind ourselves (me, a lot, more than I do) not to let perfect get in the way of good.
 
Excellent. Ignore the envy and the naysayers. People can say what they like about overpayments vs investments etc etc etc but we need to remind ourselves (me, a lot, more than I do) not to let perfect get in the way of good.
I'm not a big fan of investments over overpayments, especially if the investments are subject to taxes, which makes it extremely hard to defeat the mortgage rates. More importantly, mental health is valuable and should not be ignored.
 
Probably not going to win me any friends in this thread but we've just paid our mortgage off fully 38 months early. :D

It was cheaper to pay the early redemption charge of £300.00 rather than pay the £80.00 per month interest fee's they were charging over the course of the next 38 months.
Well done, always a good feeling although somehow you never notice the extra money as much as I think you should somehow. Still not worked that one out.

We've paid off two off on two homes so far, we'll be getting another one soon enough when we find our next place :cry:
 
I signed a 5 year fix 17 days ago. Y'all need to start a GoFundMe for me, as I triggered this cliff edge

We have until end of October to decide. I still can’t decide between 2 and 5, currently locked in for 5, but it can be changed. It’s not going to keep falling though surely?
 
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We have until end of October to decide. I still can’t decide between 2 and 5, currently locked in for 5, but it can be changed. It’s not going to keep falling though surely?

I expect it to keep falling unless we get some more wars or something.
Hoping for sub 3pc by time I need to renew.
 
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We have until end of October to decide. I still can’t decide between 2 and 5, currently locked in for 5, but it can be changed. It’s not going to keep falling though surely?
We're exactly the same - present rate runs out on 31st October. Still need to decide what to do. Obviously a tracker would be best but they charge a massive rate premium so what to do?
 
I'm in the same boat, my renewal is the 31st of October....

Never renewed a mortgage before but right now our family could just do with the peace of mind locking in for the next 5 years. However, I could do without getting stung if the rates drop decently over the next year or so. The rates can swing either way though.

Currently paying £599 a month at 2.29% but a 5 year fixed deal is coming in at £757 at 4.39%.
 
I signed a 5 year fix 17 days ago. Y'all need to start a GoFundMe for me, as I triggered this cliff edge
The thing is swaps and gov bond yields and therefore mortgage rates may actually creep back up a bit. 'The market' had priced in some pretty deep rate cuts that don't look feasible without recession. US yields actually went up after they cut yesterday. Will be interesting to see it play out.
 
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