-
"Isn't it nice to think that tomorrow is a new day with no mistakes in it."
So after lurking on other people's diaries for the last few years it's time to start my own. I'd almost paid off my mortgage 4 years ago when I decided to move to somewhere a lot bigger and a lot more expensive. It was also a project. So for the last few years there have been no overpayments as everything has gone into…
-
6 years of saving so I could take out 35 years of debt.
Started a thread a long way back while I was saving a mortgage deposit with the gf. lost track of keeping it updated so have decided to start a new one now we’ve finally done it! after moving back to my mums for “6months” i finally moved out 6 years later. Oops. so…. We completed in October and are now settled in and…
-
Mortgage free mayhem
Hi everyone! Really excited to track my mortgage-free journey at 52. Before becoming a uni lecturer this year, I've worked in charities my whole life. I've got a pension of £60K, an easy-access savings pot of £3000, and a mortgage of £84206. I want to see how quickly I can pay off the mortgage with my new higher income.…
-
Starting Afresh Back Home
Hi Everyone. It's been over a year since I posted on the forum and a lot has changed since then so I thought I'd start a fresh new diary to go with my fresh new chapter in life. Last year my marriage broke down and I left Yorkshire and moved back to my home village in Lincolnshire. I'm currently living with my parents but…
-
FtbDreaming wants to clear £69,700 before Im 40 (2027)
Hello!!! Well I joined MSE in 2016 in the DFW forums and I’ve finally progressed through to my ultimate goal as a Mortgage Free Wannabe! My house purchase has gone through today and the £69,700 is showing up in my online banking so a good motivation to get it paid off. Ive bought the house I currently live in from the…
-
Trying to get the balance right…
So after many years of debt, then a few years of no debt but spending like there’s no tomorrow, my husband and I have decided to crack on with really planning for the future. We know what we want but just need a plan to achieve it. However we don’t want to save everything at the expenses of living now. We need to maintain…
-
Mortgage free dreamer
Hi All, I've often visit the forums and dream of being mortgage free before I am 40-45, over the last few years I've really concentrated my efforts on clearing what little debt we have an focus on overpaying as much as I can. Bit of background - I'm 32, earn approx £30k p/a (full time) OH - Also 32, earns approx £11k p/a…
-
our forever patch challenge
well, this week sees the new start to my mortgage free plans. After 18 months clearing debts, then paying for our wedding, which took most of our hard earned savings, we are at the beginning again. Due to restructure at work, OH is on a reduced monthly pay, so the savings are even more of a challenge! Our plan is over the…
-
Should I pay off my mortgage
Hi All, Currently, I have a fixed mortgage at 1.39% until May 2026. I also have ISA and cash savings for emergency and other short-term goals (see numbers below). With the interest rates on the rise, I am thinking of paying off my mortgage in full when my current deal ends with my ISA investments. What would you do? Are…
-
Which Mortgage to Pay Off
I have three mortgages/loans all on fixed interest deals due to renew in 3 years time: 1. £100 k, 1.49% interest rate 2. £70 k, 3.69% interest rate 3. £30k, 4.29% interest rate. If I received a significant lump sum payment I would like to use it to pay down the mortgage debt. Would I be better off paying off the smallest…
-
Missy’s full time working mum juggling act MF adventure
Hi! I’ve been reading lots of inspiring threads and I’m finally in a position where I feel ready to jump over here from DFW threads. I’m now finally in a stable job with a regular income so I can hopefully start paying off the mortgage. A little about me, I’m a full time working mum of a 10 and 12 year old, myself and OH…
-
Pay off mortgage
Hi, need some advice, I have £55000 balance left on my mortgage with 2 years 5 months left on my fixed rate at 1.5%. I have received £50000 and put it in my savings account at 4%. Should I use it to clear the mortgage this month or not. There is an early repayment charge of £2000. Please advise.
-
Mortgage gone by 2030
Hi This is my first post where I have decided to try and reach my goal of being mortgage free, a lot sooner than I originally thought. In spring this year I started to make some regular monthly overpayments to the mortgage. I think this will be a good place to track my progress. Total mortgage borrowed: £110,475 Current…
-
Mortgage free by '33
The year, not the age! This is my first mortgage and it's been a year since I took it out. I've never really liked the prospect of being in debt but what with house prices being what they are, didn't have much choice if I wanted my own place. Last year after about a year of looking I exchanged on my first property: a one…
-
Tm's MFW ramblings
Hello :) I've been overpaying but with no real consistency or effort put in to it, for a while now. After getting locoblade's spreadsheet I realised how much I could be saving, so I want to give this my attention. Ideally, I'd like to be MF twice by 42. I'm 29 this year (OH is 38 this year). I did once upon a time dream of…
-
The Mortgage Free in Three - Take 6 challenge (MFiT-T6)
First of all, a huge thank you to trix-a-belle who ran the previous two iterations of this challenge, inspiring many of us to stay on track (and becoming mortgage-free herself!). Also a huge thank you to Financial Bliss who ran the challenge before that. This is a the sixth in a series of three year mortgage challenges on…
-
2023 Mortgage-Free Wannabes
A very warm welcome to the Mortgage Free Wannabe 2023 thread! <3 Over the last few years, this challenge has been providing support for everyone who wants to overpay their mortgage, whether it is by a big or small amount. Every little helps, and together we have been overpaying a fantastic amount of money every year over…
-
Paying off mortgage before 55 when single
I am a 40 something singleton and although I earn a very good salary, being in sales means it varies considerably month to month, and being single means I am very aware that if something happens to me there is no-one else to pay all the bills. From reading other threads, I am not alone, so the bonus is I don't need to ask…
-
Advice needed on which way to go
Hi All, I wasnt sure where to post this, so picked mortgages as i think its the key subject. I would like advice on the best way to turn with regards to clearning my mortgage early and ramping up the pension. The situation: I am just coming to the end of year 3 on a 5 year fixed 1.49% mortgage but am going to be in the…
-
Ninety months to pay off mortgage - or as near as dammit!
So I'm back with a shiny new mortgage all of my own which is supposed to take me up to April 2036 but I hope to be rid of it by November 2028, ambitious I know but I can but try. I am looking forward to getting my online mortgage account set up so I can start overpaying although there are a few things I would like to do to…