{"id":9530,"date":"2013-08-14T13:00:15","date_gmt":"2013-08-14T06:00:15","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-do-10-penalty-free-mortgage-overpayments-mean-in-real-terms\/"},"modified":"2016-03-31T13:39:16","modified_gmt":"2016-03-31T06:39:16","slug":"what-do-10-penalty-free-mortgage-overpayments-mean-in-real-terms","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-do-10-penalty-free-mortgage-overpayments-mean-in-real-terms\/","title":{"rendered":"What do '10% penalty-free mortgage overpayments' mean in real terms?"},"content":{"rendered":"


\nWe are re-mortgaging for the first time, but are unsure whether the offer is based on 10% of the capital owingQ We are about to re-mortgage for the first time. Our goal is to pay our \u00a3170,000 mortgage off as efficiently as possible, opting to switch to a mortgage with a 20-year term, rather than the 22 years left on our current mortgage.As our house is valued at \u00a3250,000 we have been offered two very attractive rates. We can either go for a repayment mortgage with a fixed rate of 2.89% for five years or a 10-year fixed rate of 3.89%. Whichever we go for, we can make penalty-free monthly overpayments of up to 10%. Continue reading…
\n
\nSource : theguardian.com
\nRead more…What do ‘10% penalty-free mortgage overpayments’ mean in real terms?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

We are re-mortgaging for the first time, but are unsure whether the offer is based...<\/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-9530","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\/p75ss1-2tI","jetpack-related-posts":[{"id":138674,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-overpay-my-mortgage-monthly-or-with-a-lump-sum-at-the-end-of-each-year\/","url_meta":{"origin":9530,"position":0},"title":"Should I overpay my mortgage monthly or with a lump sum at the end of each year?","date":"August 7, 2023","format":false,"excerpt":"\r I have a five-year fixed-rate deal, just missed the rising interest rates and want to plan for an uncertain futureQ I took a five-year fixed-rate mortgage last summer and was lucky enough to just miss the rising interest rates. I\u2019m looking ahead, as things could still be tricky in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120830,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-we-continue-making-mortgage-overpayments-or-decrease-the-term\/","url_meta":{"origin":9530,"position":1},"title":"Should we continue making mortgage overpayments or decrease the term?","date":"June 21, 2021","format":false,"excerpt":"\r We could go with a period of 17 years or reduce our term and increase our monthly paymentsQ Our current mortgage deal is due to expire in September. We have 17 years left on the term and a \u00a3160,000 amount outstanding. At present, our monthly payment amounts to \u00a31,050\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9528,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-we-be-making-overpayments-on-our-mortgage\/","url_meta":{"origin":9530,"position":2},"title":"Should we be making overpayments on our mortgage?","date":"March 31, 2016","format":false,"excerpt":"\r Now there are two of us, we\u2019re able to save about \u00a31,800 a month, but would like to do more than just save it up Q My fiance and I have just reached our savings goal for our wedding next year and we think that we can now redirect\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9532,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-we-save-or-make-mortgage-overpayments\/","url_meta":{"origin":9530,"position":3},"title":"Should we save or make mortgage overpayments?","date":"August 31, 2011","format":false,"excerpt":"\r Q My husband and I have an interest-only mortgage of \u00a3114,000 at 0.95% above base rate, so our payments have gone down quite a bit since rates went down. We have extra cash as a result of this \u2013 about \u00a3500 a month when we tighten our belts \u2013\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":138357,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/in-the-balance-with-rates-rising-is-overpaying-your-mortgage-a-good-move\/","url_meta":{"origin":9530,"position":4},"title":"In the balance: with rates rising, is overpaying your mortgage a good move?","date":"July 17, 2023","format":false,"excerpt":"\r Homeowners are desperate to find ways to reduce the bill they face each month, but should any spare cash be put into the home loan, or a savings account? We weigh up the argumentsRising interest rates have pushed mortgage overpayments to their highest levels in more than 20 years\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120834,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/im-paying-off-the-mortgage-on-my-flat-whats-the-best-way-to-buy-a-house\/","url_meta":{"origin":9530,"position":5},"title":"I\u2019m paying off the mortgage on my flat \u2013 what\u2019s the best way to buy a house?","date":"June 7, 2021","format":false,"excerpt":"\r I\u2019m wondering if I should sell my current property, or try to keep it to bring in rental income Q I bought my flat with a mortgage about six years ago, scraping my way in as a first-time buyer just before any of the government\u2019s help-to-buy schemes were available.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/9530"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=9530"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/9530\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=9530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=9530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=9530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}