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  1. Agreed. Although there is a lot of speculation surrounding the possible boom of currency if it reverts back to a gold/silver standard. Although that remains to be seen. Part of my collection of metals is purely to save money that hopefully follows inflation. As I don't see returns from keeping it in the bank. And as for shares, I'm not experienced enough to take the risk. If something seems to good to be true, more often than not it is. In my opinion of course. Kev
  2. Kudos for finishing the mortgage after the early bad luck. Much respect to you Kev
  3. Hi welcome to the forum👍
  4. Sorry if I have missed something in the rest of your post, I'm not massively clued up on the financial world. Do you mind elaborating on the quoted text? What benefit do you see in not getting rid of the mortgage? Do you mean a paid for house with a possibility of negative equity prevents future moves? Or are there other reasons which I didn't grasp from the post. Kev
  5. How it's legal is beyond me. The benefits of paying the mortgage off asap are becoming increasingly more important. These little charges here and there for the remortgage clearly add up to a substantial amount over time. It would be interesting to find out what the average interest payments over the life of a 25 / 30 year mortgage actually equate to. Granted house prices are different but the % paid over the term would be relevant to the house owned. A 30 year term with a remortgage every 2 years could possibly be upwards of 15k. Then the % paid on current rates fluctuates. There is one hell of a lot of 'interest' over the duration of a mortgage. The banks do clearly get the penny and the bun. Kev
  6. Totally forgot about the charge to change. The last time I remortgaged the best deal was with my existing provider. So I'm sure the fee isn't applied. (At least as a one off payment). As you say, the merry-go-round of remortgage fees would soon add up if you change your provider every 2 years as an example but don't reduce the period of time the loan is over. 60% is ludicrous! I dread to think the implications a rise to 10% would cause to the u.k economy. Although it isn't impossible for rates to go that way I really don't think they will. In my opinion at least. The ramifications would be disastrous to say the very least
  7. I think the lifestyle I live is more helpful than the job title. Quit smoking. Rarely drink. Live within my means. I very rarely spend on luxuries. And take overtime when ever it is available. I believe a lot said about brexit is scaremongering but time will tell on that. I'll look into transferwise and European mint. It clearly seems the way to go with future purchases. Kev
  8. 1 year becomes 10 in no time. I wish you all the best on your journey. And looking at the other posts on this thread , if you can overpay then it seems to be worth it. The only downside is the stacking will have to go on the back burner. Kev
  9. Being new to the PM market I've stacked a few numismatic coins. Is there a reason why sovereigns are easy to sell? What is the attraction about them that allows quick sales? 16% is scandalous, I'm sure my parents told me interest rates practically doubled overnight. Do you honestly believe with the world's current economy that they could put rates up that high? 2007/2008 was obviously bad resulting in low % rates. But to go from just over 1% to 10%+ In today's market wouldn't happen? Or would it!
  10. Definitely worth looking into. I've been down the divorce route already! Thankfully escaped with the house and a pay off which was amicable. Set me back on my future goals, but with time and focus I'm getting back on track. So the 'happy chappy' part of your post is actually worthwhile knowing. Luckily I didn't have to implement the tactics you mentioned. But for future reference and to anybody else going through a similar experience, I would say that's sound advice. Kev
  11. Good question, will have to check my T's & C's. I'm currently going into the last year of a 5 year fixed deal. The current rate is 4.09%!! Does anybody know the maximum time in advance you can negotiate your new deal? For some reason I'm sure I've heard you can get your new deal sorted approximately 3-6months before current deal expires. I had a quick look yesterday and have seen a few deals around the 1.4% mark. Would be worth reducing terms of time and heavily investing into at that rate Kev
  12. Seems the majority are in favour of the early repayment. Kookas method of paying over the 10% allowance is probably a little too high risk for myself. So it's most probably going to be a case of paying up to the penalty fee and what's left invest into PM. My stack forecast for this year has now taken a turn for the worst. If silver and gold take off within the next few years then I'd like to think I'd be able to make a modest return on the investment so far.
  13. Another good view on things to be honest. Your right in many ways. Illness etc. With being only 32 I hadn't put much thought into the illness scenario. Touch wood it would never come to that. But it does happen unfortunately.
  14. I've never heard that, but I'll work it out shortly and see if it's there or there about for my situation. I totally agree with not letting the banks gain any interest off me for which they created the mortgage loan out of thin air. As kook said above seems a great way to reduce the loan amount quicker without paying over the 10%. Although job security is relatively safe. I think I'd need to see the aftermath of brexit (if it's actually allowed to go through) before taking those steps. I believe a lot of the hysteria is fake news but time will tell
  15. Great post! Out of interest did they allow you to amend the years owing whilst being inside a fixed mortgage? I.e.... Fix for 5years at 3% for e.g 15years Then in 1st year alter policy to 10 years but remain inside the 5 year fixed interest rate? As for paper assets. Although the idea seems ok. I have such little faith in the global economy that I'm not sure how safe it is to have shares. I could be wrong and it could be a good investment but this isn't an area where I have much, if any, knowledge. Are paper shares a long term investment plan or would they require a fair bit of attention to the market and buy/sell at semi decent opportunities?