I have an offset, overpay already. Thinking about a foreign mortgage, say American which have lower interest rates, but unsure on exchange rates, and how to apply.
2007-03-25 04:32:54 · 4 answers · asked by Moneyloser 2 in Business & Finance ➔ Credit
2 extra payment a year will take a 30 yr mortgage to 20 yrs. check w/your lender about bi-weekly payments!!
2007-03-25 04:41:52 · answer #1 · answered by junebuggie 4 · 1⤊ 0⤋
Make double payments each month, that usually works
I'd avoid tying yourself to a foreign economy, what is US rates sky-rocket? Much safer to stick with British mortgage, try a building society rather than bank or other lender
hope find what looking for, maybe try nationwide website?
2007-03-25 04:36:26 · answer #2 · answered by Pete 3 · 1⤊ 0⤋
STOP!
If you have only 10 more years left on your morgtage, you have already paid nearly all the interest on your morgtage.
Check the principal balance at the present time.
Check the interest due over the next ten years. You will find this to be very little. Most of your payments are now going towards principal. If you finance the balance, you will obligate yourself to more interest than now exists on your present balance.
Invest any extra planned payments in something else. You'll find those will produce more interest that you owe.
STOP!
2007-03-25 04:48:33 · answer #3 · answered by ed 7 · 0⤊ 1⤋
lodgers.
2007-03-25 04:40:47 · answer #4 · answered by Anonymous · 1⤊ 0⤋