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ATOM mortgage overpayments- Does this sound right?
Hi all, hope you can advise if this advice from Atom CS sounds right. My daughter is one year into her mortgage journey with them and I’m encouraging her to overpay a little each month. (Overpayments are permitted 10% a year) She phoned Atom and was advised that as her next monthly payment was due the following week that…
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Overpay mortgage or put money into pension?
I am a very late starter with my pension. I'm in my 50s and only started paying into one about 5 years ago. I'm self-employed and contribute on an ad-hoc basis. There is around £15k in there. I have a flexible mortgage which I really like because I can draw down money if I ever need to (roof repairs, new car etc) without…
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Should I pay off my mortgage? Discussion area
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Paying Off Mortgage legal process
Hi, Hopefully will be paying off my mortgage this year. I was just wondering what the legal process is around it, if any? I don't know what happens to the deed of the house, do I get it or does it have to go to a solicitor? Also if I want to add my children to the deed so they can become inheritors etc Thanks
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Halifax reducing monthly payments on a mortgage
Hello, Not sure if anyone else is experiencing this but I regularly overpay every year on my mortgage with Halifax. This year they have decided because I have overpaid they are going to decrease my mortgage payments so that my mortgage will still last the same amount of time. I am on a fixed rate mortgage and I feel like…
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Booking myself in for an independent future
Hello, After reading for a while now I have decided to start a diary to keep track of what I am doing. Background In December 2016 I bought a shared ownership flat in an "up and coming" area of South East London, I currently own 25%, and have been trying to overpay that since I got my mortgage. Since September 2021 I have…
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Our forever home
I'm a new mfw 😊, moving over from the dfw board. We moved into our forever home on 16th November 2020. 90% LTV, 25 year mortgage. We've just paid our first standard monthly payment so only 299 more to go!!! We'd like to actually pay it off a little sooner, but due to home improvements and our saving pot for IVF it's likely…
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FIRE Through The Mortgage - MF by 55 - LATEST
Hi Everyone, I've started a brand new diary!!!! I have decided I want to recalc my figures in line with retiring by 55. I'll keep you in suspense for now but I'll pop back later with some figures. 19 Years - MF at 55 May Year - Remaining debt May 2015 - £239,992 May 2016 - £228,450 May 2017 - £216,793 May 2018 - £205,020…
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Easter 2025 I’m coming to get you!
OK so that maybe slightly optimistic but you have to dream big! I’ve been reading these for a while and decided it was time to go public instead of lurking; hopefully I can keep up with it and keep motivated. I have a mortgage which is not huge but I still have one. Originally £80,000 in November 2015 and as of tonight…
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Holey Moley!
Today I got the call to say that I have exchanged and completed on the flat I offered on in May this year. I now have a huge amount of debt, £167,000 but nothing other than that. The flat is not actually suitable to live in currently (for me) as it needs to have decoration done and the bath replaced with a shower. I know…
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New life, same goal! Pursey’s quest to be mortgage free.
I started a diary back in 2011 with the aim of being mortgage free within 10 years; a goal I would’ve smashed (within 7), if we hadn’t bought our dream house in the hills. Life has changed so much since 2011, most significantly because we are now blessed with 3 wonderful children. Then we found somewhere perfect to live,…
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Bricks Not Books
The first day of a New Year seems like the best time to start this diary! I was on this board under another name for a number of years, but I felt like a change of name as well as a change of diary, so here I am! Completed on new home with OH in December, we haven't even owned it for a month yet. But we have a mortgage of…
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Mortgage free july 2024
Hi guys / girls. 1st time poster here. Im 35 and been saving like a mad man since i qualifed as an electrician 15 years ago. Im finally in the postion to clear my 35 year term mortgage 30 years early in july. I also rent out my 1st property which i bought when i was 23. I had £125,000 in vanguard shares portfolio which i…
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It always seems impossible until it’s done…
I started this journey 14 years ago with some £65k worth of debt and £118k left on the mortgage. Whilst the original aim was to clear the mortgage by the end of 2023 in line with retirement plans, it hasn’t quite worked out that way. Buuuuut if I look at what we’ve achieved, we have come so far! We cleared every single…
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Five Year Fix, Five Year Plan
I've not even got a mortgage yet, but here I go. I'm finally getting on the housing ladder and settling, after living around the country for the last decade. I've been in a position where "I'm just about to buy" for about 8 years for various reasons, so while I've not spent well, I could have saved better instead of…
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Marginal Gains
After a lot of lurking I thought I should start my own diary. I am about to start a new job with 20% pay rise and a 5 year contract. So this diary is about how I can improve our financial situation over this time - so if my contract isn’t renewed I can afford to take a lower paying (and less stressful job). I have a lovely…
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A Dream Worth Dreaming?
Long time lurker, first time poster …. Hopping on because I come here for inspiration regularly …. so my story and plan I will share because I’m starting to flag and lose motivation … insights and opinions appreciated 😊 bought a London flat for £355k in 2017… £60k deposit, £153k mortgage and £142k help to buy loan 2020…
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Twinklies mortgage journey 2.0
New Beginnings So today is the start of our remortgage and as such I thought it would be nice to start a shiny new diary. Hopefully I can be reflective of the journey so far and make some new and focused goals. Just to bring anyone who doesn't know me up to speed. I am married, 2 kids, a dog, a house and an allotment.…
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Roll on October 2025!
Thought I would start my own thread! * Mortgage taken out c.10 years ago for £95,000 * Have had several rate changes in that time * Now on a 1.4% fix through until October 25, with currently 9 years left on the overall mortgage term * Have overpaid a lot pre 1.4% deal and since savings rates went above this, overpayments…
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Best overpayment tactic
Hello, I'm hoping for some help. I'm on a mission to pay off my mortgage asap. I have used the MSE calculators, have looked at my income/ outgoings and have settled upon overpayments averaging at £900 per month, allowing me to be mortgage free in 6 years. I am aware of the 10% overpayment limit (currently £8533 for 2024).…