Recent content by ChristelleH

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    FNB access bond and overpayments

    Yes you are correct on both. I want to keep it safe for her should my mother ever decide she wants to do something else with it (buy a place that fits the budget for example) - I am also the sole beneficiary of my mother's will.
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    FNB access bond and overpayments

    Thanks for this, definitely will take it into consideration.
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    FNB access bond and overpayments

    Thank you All for your input, advise, I truly appreciate!!
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    FNB access bond and overpayments

    Thank you so much!!!
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    FNB access bond and overpayments

    Phew, okay, thank you so much!!!!
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    FNB access bond and overpayments

    Divided by 100? So: R700 000 * 10% = R770,000.00 R770,000.00/12 = R64,166.00 R64,166.00/100 = R641 ??
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    FNB access bond and overpayments

    Okay awesome, thank you very much. So in summary, I transfer the R700k (I dont request to capitalize/lock it in). My repayment stays the same, my R700k will stay there and I can access it if needed, but if I dont, and I ensure to only withdraw the rebate value (the interest that is on the...
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    FNB access bond and overpayments

    Please ask any question if something doesnt make sense... lol
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    FNB access bond and overpayments

    So, for those interested at all - sharing so I can possibly get advise on my best move. I am currently taking care of my mother who is sickly and have no source of income. So Im currently spending around R5-7K a month just to keep her going. She lives in another town, but due to her illness, I...
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    FNB access bond and overpayments

    Hahahaha, I agree. But my reason for asking or exploring this, is not because I cant afford my bond. OR to pay my bond quicker. Its a long story. Maybe I should elaborate so it will make more sense... Lol
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    FNB access bond and overpayments

    Very stupid question, but how can I calculate my interest savings? To have an idea how much I will be able to withdraw without decreasing the R700k....
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    FNB access bond and overpayments

    If I keep withdrawing from the flexi account, the money will eventually run out right? Meaning, if the interest accrued on the money is less than the amount I withdraw, the total in the flexi account will decrease over time? Say I pay R700k into my bond, it sits in the flexi account, repayment...
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    FNB access bond and overpayments

    Okay, this helps. My main goal is to reduce my monthly payment.
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    FNB access bond and overpayments

    Okay, thanks for that. Only thing I dont understand now thou is, if Im paying R700k on my bond, why is my repayment per month not going down? Because then my total owe decreases by R700k?
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    FNB access bond and overpayments

    Okay, so If I transfer R700k into my bond, my repayment wont go down? What I meant is, if I pay R700k into my bond (the flexi account), it will then show R700k available?
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