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  • FIRST POST
    • Dithering Dad
    • By Dithering Dad 3rd Jul 07, 8:33 PM
    • 4,230Posts
    • 8,150Thanks
    Dithering Dad
    The Mortgage Free Roll Of Honour
    • #1
    • 3rd Jul 07, 8:33 PM
    The Mortgage Free Roll Of Honour 3rd Jul 07 at 8:33 PM
    Welcome to the Mortgage-Free Roll of Honour.

    This is for Mortgage-Free Wannabees who are no longer Wannabees.

    Please report

    a. The date you decided to become a MFW
    b. Mortgage Debt at its highest
    c. Mortgage-Free Date
    d. Your one perl of wisdom.
    e. The MSE Mortgage guides and others that helped you
    f. And if you had a mortgage freedom diary on MFW, a link to it.

    And huge congratulations

    (I thought that we MFW's deserved a roll of honour too )

    PS Please no one else post - let's keep this a pure record of successes


    This Forum Tip was included in MoneySavingExpert's weekly email

    Don't miss out on new deals, loopholes, and vouchers

    Last edited by MSE Andrea; 21-02-2014 at 8:02 PM. Reason: added a p.s. by popular demand
Page 31
    • conorh
    • By conorh 12th Sep 16, 5:21 PM
    • 2 Posts
    • 25 Thanks
    conorh
    Holy Sh*t I'm now mortgage free!!


    A - Date we decided to become MF - as soon as we got a mortgage...
    B - Highest Mortgage Debt - About 210k...
    C - MF Date - 9 August 2016....
    D - Pearl of Wisdom - don't panic, you still have to live your life. Its not the be all and end all.. Overpay what you can when you can


    I didn't think I would ever become mortgage free, but with my lovely wife, we both worked hard and done it. Now its time to save for a pension...
    Good Luck
    • hiswitzend
    • By hiswitzend 29th Sep 16, 1:14 PM
    • 40 Posts
    • 58 Thanks
    hiswitzend
    a. The date you decided to become a MFW
    23rd Jan 2012

    b. Mortgage Debt at its highest
    £78,210 Jan 2009

    c. Mortgage-Free Date
    28th Sept 2016

    d. Your one perl of wisdom.
    Work out how you can maximise over paying but still save for a
    rainy day.

    e. The MSE Mortgage guides and others that helped you

    f. And if you had a mortgage freedom diary on MFW, a link to it.
    http://forums.moneysavingexpert.com/showthread.php?p=71371375&utm_source=MSE_FS&utm_me dium=Email&utm_term=27-Sep-16
    Mortgage when started: £78,314 :- 10 year fixed till Feb 2019
    Current mortgage (September 2016):£Paid
    Mortgage free day: Feb 2020
    • EssexHebridean
    • By EssexHebridean 30th Sep 16, 6:46 PM
    • 7,737 Posts
    • 40,097 Thanks
    EssexHebridean
    We've only gone and done it!

    a. The date you decided to become a MFW Pretty much when I joined on here - May 2008
    b. Mortgage Debt at its highest Started out at £103k
    c. Mortgage-Free Date TODAY!!! 30th september 2016
    d. Your one pearl of wisdom. Don't try to cut everything to the bone - yes you *might* pay the mortgage off marginally quicker than a more steady approach, but equally you might get utterly fed up with it and give it up as too difficult!
    e. The MSE Mortgage guides and others that helped you Just the general MSE message really - plus assorted blogs have provided inspiration along the way too.
    f. And if you had a mortgage freedom diary on MFW, a link to it. Sorry you lot on here but it's the Debt Free Wannabe board where I've been camped out throughout.

    Mortgage was originally taken out in July 2003 - we made a conscious decision not to stretch ourselves on what we bought, and as we had no savings for a deposit AND had a debt we wanted to clear we went for a 100% mortgage - yes, one of the infamous Northern Rock Together products! we talked about overpaying, but never quite got round to it until a conversation with a friend in Spring 2008 when we suddenly realised we didn't have to OP by a fortune - just whatever we could afford! So that was how it started - literally working out one at a time what we could shave off our regular bills - and each time we made another saving, the OP went up! I think from memory we started on £10 per month. We were helped along the way by the Northern Rock split - we were one of only 2% of mortgage accounts that got accepted over by the "good bank" so when our fixed rate expired we were able to renegotiate a deal and chose to also reduce the term thanks to the reduction in interest rate coupled with the OP's we'd already banked.

    Our fixed rate ended today - I had got the redemption figure a couple of weeks ago and ascertained the correct account details to pay by regular bank transfers rather than Telegraphic Transfer, which attracts a fee. Having done the 2 x £10k bank transfers in the early hours of the morning, all that remained this morning was for me to phone up and pay the remaining £606.87 on my debit card - much to the amusement of the chap on the phone!

    Paid off in full in 13 years, 2 months and 6 days - nearly 12 years early.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£504.92 (29/08/17)
    • gallygirl
    • By gallygirl 1st Oct 16, 10:27 AM
    • 16,414 Posts
    • 107,580 Thanks
    gallygirl
    Fantastic EH - well done
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    Mortgage Balance = £0
    "Do what others won't early in life so you can do what others can't later in life"
    • A Frayed Knot
    • By A Frayed Knot 1st Oct 16, 12:16 PM
    • 2,111 Posts
    • 9,523 Thanks
    A Frayed Knot
    Great reading, Well done Bet your going about like
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/£4000, 2015/£6294.69,2016/£3186.80
    2017 £2422.71 + Phantom o/ps 2017 -£1367.81 so far
    • lemonjelly
    • By lemonjelly 1st Oct 16, 7:37 PM
    • 7,978 Posts
    • 46,560 Thanks
    lemonjelly
    a. The date you decided to become a MFW - before I bought, obvs... (june 2014)
    b. Mortgage Debt at its highest - £150k
    c. Mortgage-Free Date - sept 2016
    d. Your one perl of wisdom. - getting a mortgage deal specific to my needs...
    e. The MSE Mortgage guides and others that helped you - N/A, just comments from friendly people
    f. And if you had a mortgage freedom diary on MFW, a link to it. - also n/a

    I had 2 jobs for 8 years. In that time I minimized all overheads to get a decent deposit. Timed a purchase nicely, and across the past 2 and a bit years, as interest rates have plummeted, savings have paid off lumps. Last calsulation was final payment would be in 4 weeks, so was surprised my lender wrote to me advising it had been cleared early!
    It's getting harder & harder to keep the government in the manner to which they have become accustomed.
    • StevieJ
    • By StevieJ 25th Oct 16, 4:28 PM
    • 19,234 Posts
    • 32,122 Thanks
    StevieJ
    Wow, well done LJ
    ‘Hard as it is to say now.. I look forward to a United States of Europe, in which the barriers between the nations will be greatly minimised and unrestricted travel will be possible.’
    Winston Churchill 21st Oct 1942
    • BrassicWoman
    • By BrassicWoman 20th Nov 16, 10:25 PM
    • 1,298 Posts
    • 5,401 Thanks
    BrassicWoman
    a. The date you decided to become a MFW - June 2014
    b. Mortgage Debt at its highest - £110K
    c. Mortgage-Free Date - 18th Nov 2016
    d. Your one perl of wisdom. - you don't need a big house and loads of stuff. I am MFW as I downsized. My flat is the perfect size for me and it feels good to know where everything you own actually is, and why you have it
    e. The MSE Mortgage guides and others that helped you - house buying, renting and selling board - kept me sane through the move
    Downsized and mortgage free
    September 17 grocery challenge £64.28/£100
    • brila
    • By brila 4th Dec 16, 3:02 PM
    • 105 Posts
    • 398 Thanks
    brila
    Made the last payment today!

    Date I decided to become MFW - I paid of a large amount of debt in 2006 and it felt good, but I realised that I still had the shackles of the mortgage. We had a slow-ish start because of the recent big push to clear the debt, and family events/dramas. By 2009 we had regained our equilibrium and were ready to start properly.

    Mortgage at highest - £157k

    Mortgage free date - 4 December 2016

    Pearl of wisdom - just keep chipping away at it. Small payments feel inconsequential at first, but playing with overpayment calculators and fiddling with spreadsheets is motivating (and keeps you out of the shops!).
    MFiT-T4 No. 61 ALL DONE!
    • austonic
    • By austonic 14th Dec 16, 5:10 AM
    • 90 Posts
    • 67 Thanks
    austonic
    Yeh. Done it and currently enjoying a three week holiday in Thailand to celebrate.

    a. The date you decided to become a MFW
    April 2013.

    b. Mortgage Debt at its highest
    £513,200.

    c. Mortgage-Free Date
    18 November 2016

    d. Your one perl of wisdom.
    Sacrifice all comforts to ruthlessly pursue debt clearance from the best income you can achieve.


    e. The MSE Mortgage guides and others that helped you
    f. And if you had a mortgage freedom diary on MFW, a link to it.

    I read all the guides on MSE and elsewhere, followed the plan to cut biggest debts quickly, but I didn't use the diary.

    I was fortunate in that I had a big, but unusual and hard to sell, house and was ultimately able to downsize to a rather nice 4 bed executive property that my wife and I own outright.

    For over a year I was at considerable risk of losing that house through repossession though. It has been a tough few years starting with redundancy.
    • A Frayed Knot
    • By A Frayed Knot 15th Dec 16, 8:45 AM
    • 2,111 Posts
    • 9,523 Thanks
    A Frayed Knot
    a. The date you decided to become a MFW - June 2014
    b. Mortgage Debt at its highest - £110K
    c. Mortgage-Free Date - 18th Nov 2016
    d. Your one perl of wisdom. - you don't need a big house and loads of stuff. I am MFW as I downsized. My flat is the perfect size for me and it feels good to know where everything you own actually is, and why you have it
    e. The MSE Mortgage guides and others that helped you - house buying, renting and selling board - kept me sane through the move
    Originally posted by BrassicWoman
    I love this comment and has inspired me somewhat to at least start to declutter seriously, most of the time I just shuffle bits and items around the rooms. Food for thought.

    Excellent work - well done
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/£4000, 2015/£6294.69,2016/£3186.80
    2017 £2422.71 + Phantom o/ps 2017 -£1367.81 so far
    • Dia Pita
    • By Dia Pita 9th Jan 17, 9:02 AM
    • 65 Posts
    • 347 Thanks
    Dia Pita
    a. The date you decided to become a MFW - September 2002
    b. Mortgage Debt at its highest - £60,000.00
    c. Mortgage-Free Date - August 2016
    d. Your one perl of wisdom. - Plan for the unexpected.

    Debt Free Aug 15 Mortgage Free Aug 16
    Early retirement 1/10/ 2016.


    • Space Cadet Smith
    • By Space Cadet Smith 3rd Mar 17, 7:06 PM
    • 9 Posts
    • 7 Thanks
    Space Cadet Smith
    a. The date you decided to become a MFW - 1999
    b. Mortgage Debt at its highest - £59,000.00
    c. Mortgage-Free Date - Dec 2016
    d. Your one perl of wisdom. - Don't waste money on crap you don't need..
    • Jo Blogs
    • By Jo Blogs 3rd Mar 17, 10:48 PM
    • 751 Posts
    • 2,593 Thanks
    Jo Blogs
    a. The date you decided to become a MFW - June 2008
    b. Mortgage Debt at its highest - £85,000.00
    c. Mortgage-Free Date - December 2014
    d. Your one perl of wisdom. - always have a rainyday fund and plan for the unexpected, that way you never waste money on rubbish you really don't need .
    Saved Nitty Gritty £7440.75 [149%] / £5000-[Sep] £58.44 for the 'Save 12k in 2017' #157
    2017 Womble #35 £3463.27 Sept NSDs 4/15CCCChl 9/12 months
    Sept PPChl#002 Pts 71
    • wildcherry
    • By wildcherry 4th Mar 17, 8:53 AM
    • 139 Posts
    • 1,160 Thanks
    wildcherry
    This thread is SO inspiring! I've tried to find this thread for a while and I'm so pleased I've found it today. I've subscribed, and I can't wait to one day be adding my MFD on here!
    • vivatifosi
    • By vivatifosi 4th Mar 17, 10:42 AM
    • 17,184 Posts
    • 107,776 Thanks
    vivatifosi
    Good luck with your mortgage free journey wildcherry.
    Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
    • stedwell
    • By stedwell 5th Mar 17, 1:00 PM
    • 323 Posts
    • 351 Thanks
    stedwell
    Today we officially have reached the point where our savings are higher than our mortgage! I consider that as mortgage free!!!:


    a. The date you decided to become a MFW .... April 2010 when we moved to our last house

    b. Mortgage Debt at its highest .....110,000

    c. Mortgage-Free Date March .....2017 (5 years early)

    d. Your one pearl of wisdom.....make regular payments if you can and then it becomes part of your budgeting and you don't notice it as much.
    • Cornucopia
    • By Cornucopia 10th Mar 17, 10:33 PM
    • 9,157 Posts
    • 8,609 Thanks
    Cornucopia
    I've been Mortgage-free for a couple of years, now. I downsized to achieve it.

    a. The date you decided to become a MFW .... 1989, when I bought my first property and realised that the mortgage would cost way more than the property itself.

    b. Mortgage Debt at its highest ..... £283,000

    c. Mortgage-Free Date... May 2014

    d. Your one pearl of wisdom..... For most people, their mortgage is the most expensive thing they will ever buy - choose wisely, and manage it well.
    I'm a Board Guide on the Phones & TV, Techie Stuff, In My Home,
    The Money Savers Arms and Food Shopping boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views (especially those on the UK TV Licence) are mine and not the official line of moneysavingexpert.com.

    Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com
    • Shecar
    • By Shecar 15th Mar 17, 3:47 PM
    • 35 Posts
    • 48 Thanks
    Shecar
    The date we decided to become Mortgage Free was around 2012

    Our debt at it's highest was £200k

    We became Mortgage Free on 14th May 2013

    Our 1 pearl of wisdom - overpay as much as you can afford (if your mortgage allows this without penalty)

    • JimLad
    • By JimLad 22nd Mar 17, 7:11 PM
    • 894 Posts
    • 1,484 Thanks
    JimLad
    a. The date you decided to become a MFW:

    October 2011 when we bought our first house together

    b. Mortgage Debt at its highest:


    £155,000

    c. Mortgage-Free Date:

    TODAY! 22/03/17

    d. Your one perl of wisdom:

    Its all about the side hustle. Anything and everything you can do to make a buck on the side. Highly recommend Airbnb for renting out a spare bedroom.

    e. The MSE Mortgage guides and others that helped you.

    This forum and reading everyones diaries. Too many kind comments to name them all.

    f. And if you had a mortgage freedom diary on MFW, a link to it.

    http://forums.moneysavingexpert.com/showthread.php?t=5308207
    Mortgage Free 22/03/17. Now expecting a Baby girl in August!
    MissWillow is my OH!
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