mortgage interest rates

[shuffle]

@boagz57 These expenses don’t come anywhere close to 6.3k. Get rid of the car loan today and then you’ll have about 3k/month left over to do whatever you want with. You’re in an extremely strong position. One of you could lose your job and you’d still be fine. And to your original question, an increase in your mortgage won’t affect you at all.

 

[boagz57]

@shuffle thanks for the advice. I have been considering clearing the loan for awhile. I feel a little bit more optimistic now!

 

[nique1]

@boagz57 Vodafone will price match 35 per month fibre broadband from pure (500mbs speed, no useage limit) so shop around if you have fibre.

 

[boagz57]

@nique1 Good tip. thanks

 

[kitcatrn]

@boagz57 Just FYI, it looks like you are calculating monthly payments by multiplying weekly payments by 4. You should multiply the weekly payment by 52 and divide by 12. So the car payments are closer to 542 per month.

 

[boagz57]

@kitcatrn actually ya I didn't think of that

 

[thebigfinalepostapocolyps]

@boagz57 HI there,

On your Green Mortgage you can pay off more than 5k without penalty fees. See askaboutmoney for coverage on this.

I would be sticking with the green until expiry and paying off what you can when possible.

 

[boagz57]

@thebigfinalepostapocolyps thanks very much. il check o ut ask about money now

 

[elam]

@boagz57 Keep in mind you still have 3 more Years, you got a very good deal with 2.15%, shop around closer to the time. You wont be get a better deal now, and if you move you will have to pay a big penalty. Its not even worth worrying about it now. Regarding paying back early, it is worth it. The majority of your repayment in the first half of your terms are mainly interest. 5k is not much, I am able to pay 40k early with my lender.

You do have other things on interest, consolidate if possible do pay it back early as anything on credit at this time is a disaster, they are variable.

 

[boagz57]

@elam thanks for the advice. I'm going to pay Fownhope the car loan and go from there

 

[jaugu]

@boagz57 At 2.15 you can make unlimited overpayments, the 5k is irrelevant to you

With 30k in savings I'd pay off the car loan then hop off the mortgage, the sooner you overpay the more you will save

 

[penfire1]

@boagz57 The car loan will be cleared by the time ur rate may go up. I don't think rates will be this high in 3 years.

 

[owretchedguy07]

@boagz57