{"id":55915,"date":"2017-05-25T13:00:21","date_gmt":"2017-05-25T06:00:21","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/whats-the-best-way-of-paying-off-my-interest-only-mortgage\/"},"modified":"2017-05-25T13:09:04","modified_gmt":"2017-05-25T06:09:04","slug":"whats-the-best-way-of-paying-off-my-interest-only-mortgage","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/whats-the-best-way-of-paying-off-my-interest-only-mortgage\/","title":{"rendered":"What's the best way of paying off my interest-only mortgage?"},"content":{"rendered":"


\nI have a savings account plus two Isas, and need advice to ensure I can repay the outstanding balance in five yearsQ I have an interest-only mortgage from a well known high street bank. The balance outstanding is \u00a3139,000. The lender has informed me that I have five years left to settle this balance and that I need to discuss my options for repaying the mortgage. The options are reviewing the performance of any repayment strategy with a financial adviser; extending the term of the loan to match my repayment strategy; or changing the mortgage so I repay some capital as well as interest (at a rate of 3.49%). I regularly save 20%-28% of our monthly income in a savings account offering a low interest rate. I have two Isas and am thinking of starting another. Continue reading…
\n
\nSource : theguardian.com
\nRead more…What’s the best way of paying off my interest-only mortgage?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

I have a savings account plus two Isas, and need advice to ensure I can...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-55915","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-exR","jetpack-related-posts":[{"id":132230,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-our-savings-go-towards-the-help-to-buy-loan-or-overpaying-a-new-mortgage\/","url_meta":{"origin":55915,"position":0},"title":"Should our savings go towards the help-to-buy loan or overpaying a new mortgage?","date":"December 5, 2022","format":false,"excerpt":"\r Our five-year fixed-rate deal ends soon, we have saved \u00a3100,000 and need the best remortgage strategyQ My husband and I purchased a property in May 2018 for \u00a3600,000 using the London help-to-buy scheme. We took out the maximum help-to-buy loan of \u00a3240,000 and put in a \u00a330,000 deposit. At\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":139874,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/we-have-10000-left-after-a-house-move-should-we-save-it-or-overpay-the-mortgage\/","url_meta":{"origin":55915,"position":1},"title":"We have \u00a310,000 left after a house move \u2013 should we save it or overpay the mortgage?","date":"October 16, 2023","format":false,"excerpt":"\r I think overpaying our loan won\u2019t affect our monthly repayment as we\u2019re on a two-year trackerQ After a recent house move we have about \u00a310,000 in savings left over. We\u2019re now on a two-year tracker mortgage while we navigate the uncertain economic times and rates.My question is: would it\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23635,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/labour-attacks-misleading-help-to-buy-isas\/","url_meta":{"origin":55915,"position":2},"title":"Labour attacks 'misleading' help-to-buy Isas","date":"August 22, 2016","format":false,"excerpt":"\r Scheme launched by George Osborne in the 2015 budget criticised for not paying a 25% bonus until the property deal is completedA government-promoted savings account taken out by more than 500,000 aspiring first-time buyers has been dubbed a \u201csham\u201d that has betrayed young people hoping for their first step\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":133623,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-let-my-fixed-rate-mortgage-term-end-without-negotiating-a-new-deal\/","url_meta":{"origin":55915,"position":3},"title":"Should I let my fixed-rate mortgage term end without negotiating a new deal?","date":"January 9, 2023","format":false,"excerpt":"\r The balance would be \u00a383,000 and my husband and I have about \u00a363,000 in accessible savingsQ My three-year fixed-rate mortgage ends at the beginning of April 2023. 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