We have only recently bought our new build house, we knew at the time that it was a really bad time to sell but we couldn't wait to get out of our old house. It had a leaky roof, mould on one of the downstairs walls due to the fact that the house was so poorly heated, electric storage heaters as we had no gas and loads more things that meant we could not wait to get out of there.
Anyway, we were able to part exchange and now we live in an area that I am happy to bring my kids up in and we have a house that I love coming home to every night.
The only problem with this is the fact that in order to move, we accepted a lower than expected offer on our old house and now have a higher mortgage that is fixed, so we haven't benefitted from the lowering interest rates.
We aren't in a negative equity situation at the moment and I hope that it won't come to that but just in case I want to start overpaying our mortgage as soon as we are in a position to do so. Which definately is not at the moment due to our other debt.
I can dream though can't I.... I like to look at this mortgage overpayment calculater and see how much quicker I could pay my mortgage off if I paid just £50.00 extra a month. I could save thousands in interest and reduce my mortgage term by about 3 years.
Have a look at how much you could save here, I think you will be surprised and I hope it motivates you to pay a bit extra each month.
Anyway, we were able to part exchange and now we live in an area that I am happy to bring my kids up in and we have a house that I love coming home to every night.
The only problem with this is the fact that in order to move, we accepted a lower than expected offer on our old house and now have a higher mortgage that is fixed, so we haven't benefitted from the lowering interest rates.
We aren't in a negative equity situation at the moment and I hope that it won't come to that but just in case I want to start overpaying our mortgage as soon as we are in a position to do so. Which definately is not at the moment due to our other debt.
I can dream though can't I.... I like to look at this mortgage overpayment calculater and see how much quicker I could pay my mortgage off if I paid just £50.00 extra a month. I could save thousands in interest and reduce my mortgage term by about 3 years.
Have a look at how much you could save here, I think you will be surprised and I hope it motivates you to pay a bit extra each month.
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