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Neil8p

928 Posts
Member #: 65
Post Whore

South Yorkshire

13th Oct, 2005 at 10:40:15am


It was 5 years ago today when we got the keys to our home, and I've (very) roughly calculated we've paid £31,200 off the mortgage.

Only 20 more years to go - hooray! *oh well*

I'm bored - can you tell? :)

Ben H

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3329 Posts
Member #: 184
Senior Member

Melton Mowbray, Pie Country

13th Oct, 2005 at 11:02:24am

Bloody hell, I think in 4 years I have only payed off 8k. Given over 20k to the bank though.

http://www.twin-turbo.co.uk
http://www.hillclimbandsprint.co.uk/default.asp

A man without a project is like a like a woman without a shopping list.

Neil8p

928 Posts
Member #: 65
Post Whore

South Yorkshire

13th Oct, 2005 at 11:04:33am

Thanks for that. Don't you just love interest rates...

Arno

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583 Posts
Member #: 233
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Beugen, Netherlands

13th Oct, 2005 at 08:33:40pm

another 44821 hours untill retirement

fastcarl

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6965 Posts
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Fastest A Series Mini in the World

leeds/wakefield.

14th Oct, 2005 at 03:30:43pm

fkuk me thats some morgage,


carl

WWW.FORCE-RACING.CO.UK PLEASE CLICK HERE

turbodave16v
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10980 Posts
Member #: 17
***16***

SouthPark, Colorado

14th Oct, 2005 at 04:54:44pm

Does anyone else know about paying off your mortgage every half-month rather than monthly?
I've just been given this tip from a colleauge (especially usefull as we're paid every hal-month). Apparently it means a 25yr mortgage is paid off in 21 years - all for the exact same outlay. According to a calculator i've just plaid with - I can pay mine off in 18years with just another few $$ each month aswell.
Bargain!

On 17th Nov, 2014 Tom Fenton said:
Sorry to say My Herpes are no better


Ready to feel Ancient ??? This is 26 years old as of 2022 https://youtu.be/YQQokcoOzeY



Nic

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9326 Posts
Member #: 59
First mini turbo to get in the 12's & site perv

Herefordshire

14th Oct, 2005 at 05:13:13pm

note to self-find a rich female

Andymini

208 Posts
Member #: 438
Senior Member

London

14th Oct, 2005 at 07:14:40pm

I didn't know you could pay a mortgage half monthly.

I just put in any spare money I had over, and had the mortgage term reduced accordingly.

I've got another 10 months to go, then I'm free of the bank!

Andy

Jimster
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9407 Posts
Member #: 58
455bhp per ton
12 sec 1/4 mile road legal mini

Sunny Bridgend, South Wales

17th Oct, 2005 at 11:30:27am

I need to sort my mortgage out, paying out nearly £900 per month is just wrong!! that money should be spent racing

Team Racing

On 15th May, 2009 TurboDave said:
I think the welsh one has it right!


1st to provide running proof
of turbo twinkie in a car and first to
run a 1/4 in one!!

Is your data backed up?? one extra month free for all Turbo minis members, PM me for detials

AlexF2003

5795 Posts
Member #: 80
AFRacing LTD

Newbury, Berks

17th Oct, 2005 at 11:40:04am

It should jim!!!!

Alex

AlexF

Turbo Tel

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1060 Posts
Member #: 588
Post Whore

Delaware, USA

18th Oct, 2005 at 02:24:57pm

The half monthly thing is actually 2 weekly, You end up paying 26 1/2 payments a year which means you are actually paying 13 full payments, same effect can be had by overpaying by 1/12 of your monthly mortgage.

Mines only got 4 years to go--- but I'm a old fart...

website:- http://www.terryhunt.co.uk


Nicky
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I helped keep this site alive!

1921 Posts
Member #: 333
Post Whore

Tadley, Hampshire

18th Oct, 2005 at 05:18:51pm

Mines only got 25 years, and it's not even started yet :(

turbodave16v
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SouthPark, Colorado

18th Oct, 2005 at 08:05:28pm

Tel, Not entirely sure we're on about the same thing?
The payment i'm currently doing goes out on the 2nd of each month. I get paid on the 31st and 15th of each month, so I'm going to be switching to paying on the 2nd and 17th - basically half the current payment. It's to do with reducing the principal interest that builds up between the payments. Exactly the same sum leaves my account each year.

I'm fixed for the life of the mortgage - not great (somet like 6.8% i recall) but i'm sure that'll rise, so i'm happy staying where i am.

On 17th Nov, 2014 Tom Fenton said:
Sorry to say My Herpes are no better


Ready to feel Ancient ??? This is 26 years old as of 2022 https://youtu.be/YQQokcoOzeY



fastcarl

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6965 Posts
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Fastest A Series Mini in the World

leeds/wakefield.

18th Oct, 2005 at 08:29:28pm

OH well ,might as well piss jim off, my current monthly payments are £164.00, ha ha ha , and i hate paying that .

carl

WWW.FORCE-RACING.CO.UK PLEASE CLICK HERE

Jimster
Site Admin

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9407 Posts
Member #: 58
455bhp per ton
12 sec 1/4 mile road legal mini

Sunny Bridgend, South Wales

18th Oct, 2005 at 08:53:40pm

You telling me this and I owe £200! thanks for rubbing it in!

love you too carl!!

Team Racing

On 15th May, 2009 TurboDave said:
I think the welsh one has it right!


1st to provide running proof
of turbo twinkie in a car and first to
run a 1/4 in one!!

Is your data backed up?? one extra month free for all Turbo minis members, PM me for detials

Turbo Tel

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1060 Posts
Member #: 588
Post Whore

Delaware, USA

19th Oct, 2005 at 08:38:46am

OK I see, thats probably right, the interest is reduced because of the "early" payments. I get paid bi-weekly, pretty common in the states. The 2 months a year where I get 3 pay packets are pretty useful for buying car bits! next ones due soon....

website:- http://www.terryhunt.co.uk

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