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[Lincs Robert]

Take a look at First Direct. Rates from 1.34%. We remortgaged with them a year ago & got 1.74% fixed for 5 years with no fees. 

[tunnie]

Take a look at First Direct. Rates from 1.34%. We remortgaged with them a year ago & got 1.74% fixed for 5 years with no fees. 

That's bloody good. Although not sure now I'd want 5 years fixed, more like 2 years now. In-case we want to move.

[Viral_Jim]

And if you're anything like me you'll want to be on the beach well before that ripe old age

[tunnie]

And if you're anything like me you'll want to be on the beach well before that ripe old age

Yeah, 10 years of no mortgage sound like a lot of fun.

Who knows I might be able to afford £50/m for a Vectra tax   

But seriously, that's lot of spare dosh for family holidays and generally enjoying life.

[Lincs Robert]

Take a look at First Direct. Rates from 1.34%. We remortgaged with them a year ago & got 1.74% fixed for 5 years with no fees. 

That's bloody good. Although not sure now I'd want 5 years fixed, more like 2 years now. In-case we want to move.

We actually paid the mortgage off completely when we moved from Amersham up here. Then took out a smallish mortgage to get work done on the house a couple of years after we moved in. Very low LTV ratio & will clear it completely in less than 3 years - hopefully.

[Field Marshal Dr. Opti]

And if you're anything like me you'll want to be on the beach well before that ripe old age

Yeah, 10 years of no mortgage sound like a lot of fun.

Who knows I might be able to afford £50/m for a Vectra tax   

But seriously, that's lot of spare dosh for family holidays and generally enjoying life.

£50 a month for a 'common as muck' Vectra is insane.

£50 a month for the lovingly hand built bespoke Signum is a snip.

The cars have nothing in common.

[Field Marshal Dr. Opti]

Take a look at First Direct. Rates from 1.34%. We remortgaged with them a year ago & got 1.74% fixed for 5 years with no fees.

That does look impressive.

[Kevin Wood]

I think I'm on 0.89% above base rate fixed for the life of the loan. Feeling a bit silly for overpaying so much when the rate was higher.

[Lincs Robert]

Take a look at First Direct. Rates from 1.34%. We remortgaged with them a year ago & got 1.74% fixed for 5 years with no fees.

That does look impressive.

Existing customer, the first fixed rate deal with them was coming to end, we were on 3.89%. I think they do loans for non FD customers as well.

[aaronjb]

What was the penalty, jimmy?

2% of the outstanding balance, about £4k in our case, we waited because it was a sliding scale, 5% in yr 1, 4% in yr 2, 3% in yr 3, 2% in yr 4 and 1% in yr 5. Sadly we signed up about 6 months before the interest rate drops filtered through into the residential mortgage market. Annoying but one of those things.

We are due to be finished on our mortgage when I'm 48  . However I think our next house move will take our mortgage debt from £200k ish to over 500  . Not sure I fancy 16yrs of £2700pcm mortgage payments so I think we may extend the term! 

Soo tempting to do this, I'm currently resisting this.

Otherwise we are looking at some expensive houses 

And that's why my term is so long

I took a 25yr mortgage out on my flat for £68000 in 1999, which was the absolute max balls-to-the-wall amount I could afford (and still meant living in Slough)
Then I moved house in 2009 and took out a mortgage on a ~£250,000 house, during the 'slump' (which meant the flat had dropped, too), the only way I could afford the repayments was.. to take the term back to 25yrs
In 2016 I moved to a ~£450,000 house taking very little equity out of the other (keeping it as a rental for now) which meant that .. the only way I could afford the repayments was to take the term back to 25yrs again; except, somehow, my broker managed to make that 35 years rather than the 25 I wanted, and I'm stuck with it for another year..

..Well, I could get out but the penalty is ~£10k so it's not worth doing at this point.


Of course I could have stayed in that 1bed flat and saved myself a lot of money, but I wouldn't want to be living in a 1bed flat at 39.. plus I'd have a hard time fitting in all my crap

[aaronjb]

Also I was young and foolish and thought I'd live forever

Now 40 is rapidly closing in ( ) I'd do things differently, of course; save more, spend less and have the shortest mortgage term I could manage!

[tunnie]

Yeah if I reset my term to 25 years, that does suddenly give us much better options. My neighbours houses are currently on the market one £450k other at offers over £425k, interested to see if it sells for that. As they are both a terrace house, smaller garden than me and only 1 parking space. Compared to mine which is detached, garage, 2 car driveway and bigger garden. I paid £325k for mine few years ago, so done quite well I think. Maybe a good day mine is £500k, not sure how much extra value mine would be, but normally detached does go for a little more. (also assuming my neighbours get their asking)

Problem is the houses we want which tick all our long term requirements and if we want to stay in same area are £700k 

[aaronjb]

Yeah - one up the road from me (6 bed but a horrible layout as it's a 1930s that's been extended on extensions on extensions) was up for £600k and just sold (no idea for what, yet, of course).. and I live in the arse end of nowhereville!

This one: http://www.rightmove.co.uk/property-for-sale/property-47925765.html

[tunnie]

Yeah - one up the road from me (6 bed but a horrible layout as it's a 1930s that's been extended on extensions on extensions) was up for £600k and just sold (no idea for what, yet, of course).. and I live in the arse end of nowhereville!

This one: http://www.rightmove.co.uk/property-for-sale/property-47925765.html

Be on Zoopla soon, unless you know them. I know my chaps quite well, so once they've sold I might buy them a beer and see what they go.

That's nice though, that would be £800k+ around here. I don't mind that layout, it could work for us.

Problem is for us we want a bigger garden, but all modern builds (like ours) have tiny gardens, also squeezing them in, so little land around them. So looking at older houses like that 1930's one, as we would want one that size or bigger ideally.

[Viral_Jim]

That's a really interesting rightmove link. I honestly didnt think any bits of Northampton were as nice as that. Most of it looks like a a bit of a dive 

I may have to put it back on the list of search areas.