New Posts For Thread: Pay off mortgage??https://community.betfair.com/tradefair__financials/go/thread/view/94198/25812277/pay-off-mortgageI cant deceide what to do. Owe 12.5k on my mortgage at a rate of 5.99% fixed till oct 2012. And have roughly that in a stocks and shares isa, which is mainly European stocks so as a general rule if the ftse is doing ok, it is too. Now I think the ftsWhat would happen when in 2012 I take the remainding x amount elsewhere will I still have to pay a penalty?? I only agreed to 5 yrs with them. As I stated my plan was to get it right down to say 2 grand and then just pay say £70 month till oct 2012https://community.betfair.com/tradefair__financials/go/thread/view/94198/25812277/pay-off-mortgage?post_id=469434049#469434049What would happen when in 2012 I take the remainding x amount elsewhere will I still have to pay a penalty?? I only agreed to 5 yrs with them. As I stated my plan was to get it right down to say 2 grand and then just pay say £70 month till oct 2012Sat, 09 Oct 2010 06:11:46 -0500no expert but payed mine off 6 yrs early a few months back with a redemption fee,dont think its as easy as you think to avoid the redemption fee,your rates over the length of your mortgage so whats in it for them to let you pay of early and avoid thehttps://community.betfair.com/tradefair__financials/go/thread/view/94198/25812277/pay-off-mortgage?post_id=468258573#468258573no expert but payed mine off 6 yrs early a few months back with a redemption fee,dont think its as easy as you think to avoid the redemption fee,your rates over the length of your mortgage so whats in it for them to let you pay of early and avoid theThu, 30 Sep 2010 10:22:14 -0500And Mr Ben I would have to gamble on my ISA rising the 6 % which very very roughly would have the FTSE at around the 6200 mark. Which I think it wil do next summer maybe??? I dunno what a ISA is but if you consider interest rates will be higher oberhttps://community.betfair.com/tradefair__financials/go/thread/view/94198/25812277/pay-off-mortgage?post_id=467696249#467696249And Mr Ben I would have to gamble on my ISA rising the 6 % which very very roughly would have the FTSE at around the 6200 mark. Which I think it wil do next summer maybe??? I dunno what a ISA is but if you consider interest rates will be higher oberSat, 25 Sep 2010 22:30:20 -0500Also if I was strict with myself I could just put whatever money I would have used to pay the mortgage off monthly into any form of saving and therefore I think this has to be a no brainer.P.s plan was to pay off 95% of it and just pay £50 a month fhttps://community.betfair.com/tradefair__financials/go/thread/view/94198/25812277/pay-off-mortgage?post_id=467483269#467483269Also if I was strict with myself I could just put whatever money I would have used to pay the mortgage off monthly into any form of saving and therefore I think this has to be a no brainer.P.s plan was to pay off 95% of it and just pay £50 a month fFri, 24 Sep 2010 09:55:21 -0500Lender is Halifax btwhttps://community.betfair.com/tradefair__financials/go/thread/view/94198/25812277/pay-off-mortgage?post_id=467482225#467482225Lender is Halifax btwFri, 24 Sep 2010 09:46:28 -0500Sorry not looked in for a week or so. Pretty sure that early repyment charge is 2%.Current situation, ISA worth 13,400 Mortgage now 11,900.And Mr Ben I would have to gamble on my ISA rising the 6 % which very very roughly would have the FTSE at arounhttps://community.betfair.com/tradefair__financials/go/thread/view/94198/25812277/pay-off-mortgage?post_id=467482017#467482017Sorry not looked in for a week or so. Pretty sure that early repyment charge is 2%.Current situation, ISA worth 13,400 Mortgage now 11,900.And Mr Ben I would have to gamble on my ISA rising the 6 % which very very roughly would have the FTSE at arounFri, 24 Sep 2010 09:45:01 -0500chisel in martingale shocker!https://community.betfair.com/tradefair__financials/go/thread/view/94198/25812277/pay-off-mortgage?post_id=467475089#467475089chisel in martingale shocker!Fri, 24 Sep 2010 08:37:13 -0500Oh well, Double up on Pompey on Friday night!!https://community.betfair.com/tradefair__financials/go/thread/view/94198/25812277/pay-off-mortgage?post_id=467192833#467192833Oh well, Double up on Pompey on Friday night!!Wed, 22 Sep 2010 06:26:54 -0500Leicester on a roll,played the mighty Cardiff off the pitch last week too.https://community.betfair.com/tradefair__financials/go/thread/view/94198/25812277/pay-off-mortgage?post_id=467184781#467184781Leicester on a roll,played the mighty Cardiff off the pitch last week too.Wed, 22 Sep 2010 04:27:43 -0500chisel 20 Sep 10 16:00 Why not put 12k on Pompey to beat Leicester tomorrow night? 6/4 Hope you didn't advise your clients to do this chancers bet as the debt laden Pompey lose yet again .https://community.betfair.com/tradefair__financials/go/thread/view/94198/25812277/pay-off-mortgage?post_id=467183641#467183641chisel 20 Sep 10 16:00 Why not put 12k on Pompey to beat Leicester tomorrow night? 6/4 Hope you didn't advise your clients to do this chancers bet as the debt laden Pompey lose yet again .Wed, 22 Sep 2010 04:07:27 -0500