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Original poster

How much do you pay for your mortgage?

47 replies

spinelli · 10/03/2005 13:47

Sorry to be nosy.. but i guess we are all anon so any way. .. We have a 280,000 mortgage and our payments have just gone up to 1600 a month.

Is this over the odds. I know we had trouble getting a mortgage because my dh has an old ccj from being too scatty! Its so annoying . Are we paying a lot more?

BTW does anyone know if I take the proof that we have paid the ccj down to the courthouse is it wiped off. I know it will be marked as satisfied but does this mean his credit rating will improve?

OP posts:
Cod · 10/03/2005 13:48

Message withdrawn

maisystar · 10/03/2005 13:49

i don't have a morgage but my sisters is for £136,000 and they pay £800 per month so that seeems to fit in with yours.

Lucycat · 10/03/2005 13:49

Do you mean who pays the most or the least cod?

Cod · 10/03/2005 13:50

Message withdrawn

mummytosteven · 10/03/2005 13:50

we have a £90,000 mortgage and pay £600 a month.

NomDePlume · 10/03/2005 13:50

I'm sure you can find mortage calculators on financial websites, which will give you an idea of how much is too much.

Lucycat · 10/03/2005 13:52

I find that however much money you have, you still manage to spend it all by the end of the month!

mummytosteven · 10/03/2005 13:53

oh I dunno cod, at least a fight about money would have the merit of a bit of novelty, rather than fight about bfing etc.

mummytosteven · 10/03/2005 13:54

oh also what you pay may also depend on how much deposit you put down at the start in terms of what interest rate/discount you may have been able to secure

Cod · 10/03/2005 13:54

Message withdrawn

Preggars · 10/03/2005 13:56

Spinelli - I'd say that this sounds about right - without giving our figures away!!

Re: the CCJ, have you contacted experian?? You can pay the have this information updated so that your credit rating isn't affected at all.

mummytosteven · 10/03/2005 13:56

? name change?

all the teletubby names are gone so what else is there I could change to

Original poster
spinelli · 10/03/2005 14:10

Hi preggars. How would I update the file? Shall I send the recepits to experian?

OP posts:
elliott · 10/03/2005 14:15

cod we never have any fights on money threads!
Grapes and supermarkets...now that's contentious...

I thought ccjs expired after a certain number of years (7?) but that it wasn't to do with paying it off. Don't really know though.

What is your interest rate? Can you change lenders? Repayments will depend on the number of years your mortgage is paid over (assuming it is repayment and not interest only).

Original poster
spinelli · 10/03/2005 14:21

not sure what our interest rate is but i remember it was higher than some others because we were considered risky... don't think another company will have us unless we sort out dh credit file.

OP posts:
Original poster
spinelli · 10/03/2005 14:22

do you know its so bloody annoying ... we cant even get a credit card because of dh and the ccj.
they really do ruin your life.

OP posts:
posyhairdresser · 10/03/2005 14:48

Why not try phoning other companies for quotes without mentioning the CCJ?

This seems like an unusually large mortgage to me and I would expect the rates on larger sums to be more favourable than on smaller sums. I believe that the average mortgage is normally quoted as around £70k FWIW!

CountessDracula · 10/03/2005 14:55

It depends upon the length of the mortgage and the repayment method.

If for eg your £280000 mortgage was straight capital and interest repayment over 25 years then your rate is 4.66% which is good.

What was the term when you took the mortgage out (in years) and how is it capital and interest or interest only? If interest only what is your capital repayment vehicle?

otto · 10/03/2005 14:57

You can't pay to have information taken off your credit file, but you can ask to have it removed or corrected if it's wrong. There wouldn't be any point in not mentioning a ccj when asking for mortgage quotes as it would show up when you were credit scored if you applied for a new mortgage. You can get more information on this from www.experian.co.uk. To find out if you are getting a good deal look at one of the mortgage comparison websites such as moneysupermarket or moneyextra

Toothache · 10/03/2005 14:59

I have a £36,000 mortgage and pay £228 per month.

Toothache · 10/03/2005 15:00

Spinelli - My DH defaulted on a bank loan 6 yrs ago. Up until last year he couldn't even get a BANK ACCOUNT never mind a credit card.... but that didn't affect my rating. I can still get a credit card. His rating shouldn't effect yours.... apply for the credit card in your own name. That should be okay.

Sponge · 10/03/2005 15:17

Is it a repayment or an interest only mortgage?
If interest only it's a bit high I think (we pay just over £1000 on a £260,000 loan) but if it's repayment it's probably quite good, depending on the term you're paying over.

Keane · 10/03/2005 15:19

maisystar who are you with?

Preggars · 10/03/2005 16:05

Hi Spinelli - saw the experian address has been posted. Have a chat with them. We didn't know why we were getting turned down for a mortgage, so we contacted experian and they sent us our credit history. We found out that we had been blacklisted by a book club my DH had joined, who had charged him for a book he never received . Once we had the history we were able to dispute it, and our indep. fin. advisor was able to explain to potential lenders 'why' we had a bad credit history. Apparently book clubs and catalogue co's are very quick to black list your credit for minor discrepencies. But, potential lenders know this, so once you know whats written about you, you are in a much more powerful position to explain. God I'm waffling.

emmatmg · 10/03/2005 16:08

£76,000 mortage and pay £514 per month, repayment/20 yrs left.