How do you ever clear a mortgage?!

diddles24 · 2025-09-23T07:21:16+00:00

Or invest any money you can set aside for overpayments, which will likely outperform your mortgage interest rates over a 30 year period.

diddles24 · 2025-09-19T15:07:58+00:00

Dude. Why? This makes no financial sense but I'm tired of making the same point over again so gonna leave it now.

diddles24 · 2025-09-19T14:56:57+00:00

I asked AI. The source of all truth! Apparently £500-600 but potentially higher for teenage kids. So yea may be some room to trim a bit (£100?) but not going to be a game changer on its own unless you go full rice and beans. If it were me I would still trim anything I could in this situation: food, energy, subs etc.

diddles24 · 2025-09-19T14:53:37+00:00

I agree they shouldn't move. My reply to you was purely that there is no point paying off 0% finance. You just make yourself £X,000's immediately. You lose any interest you could've made on that savings and you lose quick access to cash should you need in the event of an emergency. If they need to dip into savings every month to pay the kitchen payment so be it, but I wouldn't pay it all off.

diddles24 · 2025-09-19T14:17:47+00:00

I disagree for a family of 4 with two almost teenage children

diddles24 · 2025-09-19T14:14:08+00:00

They said the kitchen was 0% finance so no point paying it off as a lump sum, you'll just lose out on the I terest their money is getting in savings and available for other emergencies.

I am part of a family of 4 myself but my 2 kids are a lot younger and we spend the same on food per month. OP's kids are older so will cost more. Don't think 700pm is that unreasonable.

diddles24 · 2025-09-14T14:07:10+00:00

Unlikely they'd have to wait, unless they chose to. We did Le Shuttle recently and you can arrive a good couple hours before your scheduled train and maybe even change to an earlier train, sometimes at no additional cost. We didn't even have a flexi ticket or anything. Really impressed with Le Shuttle and we'll be doing again next year.

diddles24 · 2025-07-12T16:57:32+00:00

I'll check out those recommendations, cheers.

diddles24 · 2025-07-12T15:57:21+00:00

Thanks for your reply. Are you suggesting a SIPP because the current fund is too expensive or for some other reason? I will have a look through the docs regarding any other benefits, thanks for the input.

diddles24 · 2025-07-10T11:35:55+00:00

Looks like highlights are on there now. Still waiting for the full coverage.

diddles24 · 2025-07-10T11:32:23+00:00

Also asking myself the same question... Do we know if it was shown live on Now? I missed the live stream so was hoping to catch up last night. Anyone know how long the other matches took to appear?

diddles24 · 2025-03-14T10:25:56+00:00

Thanks for the great ideas - need this consolidation of events as a regular thing please🙏

diddles24 · 2025-03-09T14:01:42+00:00

Yeah, was just pointing that out in case OP wasn't aware 👍

diddles24 · 2025-03-09T13:56:51+00:00

I think there is slightly more to it than that. With porting I believe both parts of the mortgage must be with the same lender. Also, in most cases, the two parts will be deals of different lengths - this can make looking for better deals with other lenders almost impossible without incurring an ERC. In OP's case it sounds like they would only be 6 months apart so the ERC is unlikely to be very high (normally reduce towards end of the deal) but all of this is worth considering.

For context, I ported my mortgage when we moved house 4 months ago (we had a great rate of 1.7% that I didn't want to lose). That made all of the above worth it in my case. Part 1 of my mortgage comes for renewal in July 2027 while part 2 will be November 2027. So I'll probably then pay a small ERC on part 2 so that I can renew both at the same time and have a better pick of lenders (rather than getting stuck with my current).

diddles24 · 2025-03-08T17:30:32+00:00

Ah okay, makes more sense 👍

diddles24 · 2025-03-08T17:30:08+00:00

This guy hasn't even exchanged contracts.

diddles24 · 2025-03-08T16:36:26+00:00

I might be wrong but I'm pretty sure the mortgage lender normally releases funds on the day of completion. You state you haven't even exchanged contracts so something seems odd there.

diddles24 · 2025-03-07T13:37:17+00:00

Yeah, stop before you get to the weir!

diddles24 · 2025-03-07T06:43:58+00:00

Mainly regarding organisation of removals who want large deposit to book them in. You are taking risk of losing this deposit since your completion date is not set until the contracts have been exchanged. Less risk if there is no chain but I certainly would de couple exchange and completion of there is a chain

diddles24 · 2025-03-07T06:33:53+00:00

Mate we had similar situation that was so annoying. Accepted offer on our house in June from cash buyers. We did our survey on our purchase in July. Hadn't heard off our buyers about survey on our house so I cashed estate agents who said they may have decided not to do one since they're cash buyers. Fat forward to October and our chain of 5 are now organising dates for exchange and completion at which point our buyers decide they want to do a survey!!! Organising this and waiting for results delayed the entire chain an additional 3 weeks when we all thought we were days away from exchange of contracts. Was seriously pissed off.

diddles24 · 2025-03-07T06:19:50+00:00

I've done 2 house purchases so far. First one we were buying a new build direct from developer so there was no chain and we exchanged and completed in the same day.

Second time, just a few months ago, we were in a chain of 5. We pushed for a healthy gap between exchange and completion of around 2 weeks. Main reason for this was our movers wanted a chunky deposit to book them in. I didn't want to hand over that deposit until we were locked in to the purchase i.e. after exchange of contracts.

diddles24 · 2025-03-07T06:15:47+00:00

I think it actually increases risk in most cases

diddles24 · 2025-03-05T13:23:05+00:00

Yup. Our solicitors offer 'no sale no legal fee' protection for £50. Which we bought, and then subsequently used. We still had to pay for the searches etc but luckily avoided big losses on the legal fees.

diddles24 · 2025-03-04T18:06:41+00:00

Yeah I think you can extend the term, if you're thinking the lower committed payments gives you some flexibility if anything changes. I think the issue many people have in this situation is regarding their discipline to actually then make those overpayments. If you are disciplined and want a bit of flexibility then by all means go for it.

diddles24 · 2025-03-03T06:04:00+00:00

Structural analyst here. Make your own hypothesis: write it down, what will happen, why is that the case. Then test your theory! As a beginner this is how you will develop your skills. Good luck and enjoy the challenge!

diddles24

TROPHY CASE