Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • pinkteapot
    • By pinkteapot 17th Mar 15, 1:00 PM
    • 6,165Posts
    • 7,928Thanks
    pinkteapot
    The "Mortgage-free in 2025-30" club!
    • #1
    • 17th Mar 15, 1:00 PM
    The "Mortgage-free in 2025-30" club! 17th Mar 15 at 1:00 PM
    Welcome to the thread for all those MFW's aiming to get MF during 2025-30. Come and chat to people working over the same timeframe as you, and then join the party in 2030 when we're all mortgage-free!

    If you'd like to be added to the members' list below, just post your details and I'll add you. Prod me if I don't - it's nothing personal and just means I missed your post!

    MF 2025-30 Club Members

    • abi a mfw mum || target August 2028 || goal: MF by the age of 40
    • amycool || original MF date Nov 2028 || target 2025 || goal: To have the freedom to work less and save more for retirement || amycool's diary
    • Anagran || original MF date 2046 || target 2030
    • audigex || original MF date 2040 || target 2028
    • Baby Angel || original MF date 2036 || achievable target 2029 || goals: DFW asap or Dec 2016 latest; MFW by 2025; Have enough savings to be able to retire at 60; and the list goes on and on ...
    • Brokeattheminute || original MF date Feb 2028 || target August 2025
    • bubblycrazy || original MF date Aug 2049 || target 2025 (even earlier if possible) || goals: to be debt free, happy and save for early retirement
    • choccielover || original MF date 2041 || target 2025
    • clarew || original MF date Oct 2028 (was £185k in 2003) || target August 2025 || goals: to have mortgage paid in 10 years from now so we can save to help the kids through uni or training etc or otherwise spend it on holidays for me and hubby!!
    • easylife73 || original MF date 2036 || target 2028 || goal: Pay the mortgage off, then buy a little place abroad.
    • engineer amy || original MF date 2035 || target 2025
    • Firegirl || original MF date 2042 || target 2029 || Firegirl's diary
    • hallamblue || original MF date 2033 || target 2030 || goals: to be mortgage-free on my 60th birthday
    • helibob || target 2030
    • Keeponmoving || original MF date 2033 || target 2027 || goals: I would love to be MFW before my 50th birthday, to be able to visit the countries that are on my list.
    • LannieDuck || original MF date 2039 || target 2029 || LannieDuck's diary
    • LadyGnome || original MF date 2034|| target 2025 || goals: to finish mortgage when the children finish school so I can move the focus to holidays retirement planning
    • Lippy1923 || original MF date 2035 || target 2025 || goals: To be MF at 35!
    • liuhutOz || original MF date Apr 2044|| target 2034 (ideal 2032) || goals: to be debt free and be able to help the kids out
    • LoveTheCoast || original MF date Jan 2033 || target 2028 (ideal 2025) || goals: to be debt free and be able to save for earlier retirement
    • Luckyinlife || original MF date 2040 || target 2025 || goals: To own my property outright is my life goal plan to be mortgage free by 40 im 27 now 2015 :]
    • McTaggus || original MF date 2048 || target 2027 || goals: get rid of the mortgage at the same time as child maintenance payments end, to then have far more financial freedom!
    • MFWKid || original MF date 2043 || target 2030 || goals: mortgage free by 50!
    • military twins || original MF date July 2039 || target July 2029 || goals: to have mortgage paid off before we are 50 so we can help the children out with uni/house deposits
    • missis_amber || original MF date 2041 || target 2030
    • Moneyfordreams || original MF date 2037 || target 2025 || goals: Get debt-free, mortgage-free and retire!
    • MrCrimeFiction || original MF date 2036 || target 2030
    • MummyEm || original MF date Nov 2039 || target Nov 2025
    • Mummyisbeauty || original MF date 2032 || target 2025 || goals: to then look at getting the Forever Home with a small loan, or helping our son out in the future
    • NorthernMonkey1 || original MF date 2033 || target 2025
    • ourcornercottage || original MF date 2034 || target 2025 || goals: MF by 50 and saved for a btl or investment property. Retired fully by 60. || ourcornercottage's diary
    • pavlovs_dog || original MF date 2040 || target 2028 || goals: freedom to travel and prepare for early retirement || pavlovs_dog's diary
    • pinkteapot || original MF date 2042 || target 2028 || goals: freedom to resign whenever we want, holidays, wine and, hopefully, earlier retirement! || pinkteapot's diary
    • poohbear59 || original MF date 2026 || target 2023 || goals: to be mortgage free so we can enjoy our retirement and travel. And help out our family too.
    • rammelino || original MF date 2030 || target 2025 || goals: to be mortgage free at 50 and to have some spare cash to put our two kids through University![/COLOR]
    • shanghaijimmy || original MF date June 2036 || target March 2025 || goals: to be MF by 46, to save for full retirement at 60, to save to put 2 clever boys through Uni || shanghaijimmy's diary
    • Skippycat || original MF date 2038 || target 2027 || goals: to pay off mortgage asap so we can start saving extra money towards retiring early
    • slicence || original MF date June 2033 || target May 2025 || goals: After this little house I'd love to build my own home
    • Synonymous || original MF date 2040 || target 2025
    • t-rexcellent || original MF date 2032 || target 2027 || goals: freedom to enjoy more time at home and be more flexible with work. And enjoy a beer or two!
    • turtlemoose || original MF date Dec 2038 || target Jul 2027 || goals: nothing specific, just being MF is the start, hadn't thought further than that! || turtlemoose's diary
    • velocity_girl || original MF date 2038 || target 2028 || goals: pay off mortgage to use whole sale proceeds as deposit on forever home || velocity_girl's diary

    This thread came about following a discussion I had with some people on another thread on this board a few months back. I said it would be nice to have a place to chat with people who are aiming to be mortgage-free around the same time as us. I suggested clubs for those who aim to be MF in say 2015-20, 2020-25, 2025-30, etc. So far, this is the only club that's been started but hopefully more will follow if people like the idea.

    Early graduates (good work!)

    • A Frayed Knot || original MF date 2030 || target 2025 || goal: to graduate from the group early! - goal achieved! Graduated December 2015, with a new MF target date of 2018-2020. Now on the Mfit Challenge 4 thread.
    Last edited by pinkteapot; 17-01-2017 at 4:51 PM.
Page 27
    • wildcherry
    • By wildcherry 22nd Jan 17, 12:20 PM
    • 139 Posts
    • 1,161 Thanks
    wildcherry
    Hi there
    Thank you for the welcome!
    Our original mortgage free date would be 2041!!! I'm hoping we'll be mortgage free within 10-12 years. 10 years would be fabulous as that would make me MF just before my 50th birthday.


    We've been slow to start OPing though as we have an offset mortgage with just over £60000 in the offset account we're hoping that's going to help. Ive now set up up a regular payment into the offset account and am hoping to increase that next month. My plan is then to overpay anything we have left over in the current account minus a buffer so we're going at it at both angles.


    In addition to all that we're getting married in September so I have to consider that we might not be able to save in the offset as much as I would like.


    Our mortgage is currently sat at just over £166000. The house is probably worth about £210000 now. We bought in September and we've done abit to it already.
    • Firegirl
    • By Firegirl 17th Apr 17, 9:21 AM
    • 722 Posts
    • 2,902 Thanks
    Firegirl


    Current Mortgage Balance £209900
    Target for May 2017 was Somewhere inbetween 2 figures below!!
    19 Year Target Balance MF55= £216, 793
    14 Year Target Balance MF50= £207, 700

    Next years targets are on my signature!

    Yay I achieved my target and close to the MF at 50 too.

    Welcome WC - it's so lovely getting married! Enjoy all the planning. Remember do what you and your other half want to do and not what everyone else wants!
    Last edited by Firegirl; 17-04-2017 at 9:25 AM.
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022
    Current Mortgage Balance £197, 495
    Target for May 2018 - Somewhere inbetween 2 figures below!!
    19 Year Target Balance MF55= £205, 020
    14 Year Target Balance MF50= £191, 314
    • allmannerofthings
    • By allmannerofthings 17th Apr 17, 12:42 PM
    • 90 Posts
    • 520 Thanks
    allmannerofthings
    Hello, can I join in please, pinkteapot? Mortgage £115000, original mortgage free date 2031. Target mortgage free date 2027.
    Mortgage March 2017 borrowed £115,000. Balance September 2017 £107867.50
    Overpayments 2017 £3630/Target £5000
    May £1710 June £0 July £900 Aug £505 Sept £515 Oct £ Nov £ Dec £
    • armchairexpert
    • By armchairexpert 17th Apr 17, 1:50 PM
    • 727 Posts
    • 4,723 Thanks
    armchairexpert
    Oooh, look, a shiny new-to-me thread to join! May I please? I am

    armchairexpert || original MF date 2039 || target May 2028 for no good reason except that it's my 50th birthday

    I'm in Australian dollars so my figures look crazy high to you lot, but we owe $220,000. It's a Line of Credit product, I don't know that you guys have these but basically everything gets paid into the mortgage account and everything gets paid out of it. So I don't save up for, or make, overpayments as such - I just try and make sure there's a bit left in the account at the end of the month, and that's my overpayment. What that means is that we also leave money in the mortgage account that's actually earmarked for a savings goal, so sometimes the mortgage goes back up. That feels frustrating but it makes more financial sense than putting savings in a separate account.

    Anyway, enough blathering!
    MFW diary here. 1 Feb 2017 $229,371 - MFD Feb 2043 aiming for May 2028
    14 August 2017 - Refinanced: $220,000
    November 2017 - $216,000.00 Current MFD 31 July 2035
    • Dogbooks
    • By Dogbooks 17th Apr 17, 9:58 PM
    • 32 Posts
    • 80 Thanks
    Dogbooks
    Hi all, I haven't yet got a mortgage (I'm currently in the process of buying a property!) but am following this with interest We've applied for a 27 year mortgage which would take us to 2044 (argh!) but hopefully with regular OPs we could bring it forward to 2030

    Best of luck everyone!!
    Goals for 2017:
    • Complete purchase of house
    • Save emergency fund- £1200/ £9300
    • Suebevvy
    • By Suebevvy 25th Apr 17, 6:01 PM
    • 1 Posts
    • 1 Thanks
    Suebevvy
    Suebevvy - 17 year mortgage but hoping to be free in ten years if not sooner!
    • LadyGnome
    • By LadyGnome 25th Apr 17, 7:09 PM
    • 420 Posts
    • 1,560 Thanks
    LadyGnome
    Best of luck to all the new posters.

    I have a clear plan to pay off the mortgage by 2027 rather than 2034 which is on track so far. So obviously I am now trying to think of ways to beat the that target...
    Last edited by LadyGnome; 25-04-2017 at 7:11 PM.
    Mortgage
    Start Nov 2012 £310,000
    June 2017 £248,590.81 Reduction £61,409.19
    MFW 2017 #42 £2386.30/£3100
    End Oct Sept 2034 but I have a cunning plan...
    • bubblycrazy
    • By bubblycrazy 21st May 17, 10:22 PM
    • 135 Posts
    • 401 Thanks
    bubblycrazy
    I have put my monthly OP up to £100 from £60. This brings the current mortgage free date to 2033.
    16 years early and I would be 48, but still not where I'd like it to be. Ideally I'd like to bring it down to my 40th!
    Hope everyone else is doing well?
    MFW - Original balance 28/08/2014 £52850
    Original MF date: 2049 Aiming for: 2025
    Balance 28/04/2015 £52250
    Balance 27/07/2016 £49990
    Balance 08/07/2017 £47999
    • amycool
    • By amycool 27th May 17, 4:00 PM
    • 778 Posts
    • 3,264 Thanks
    amycool
    We've been putting any spare cash in the savings pot and we're nearing the point of being mortgage neutral (probably a few more months). Once our fixed deal ends the plan is a big overpayment to avoid fees but we'll wait and see nearer the time. I reckon we might be able to pay off the whole mortgage just before 2025, which would be nice.

    Having said that, OH's department has just announced redundancies...
    Mortgage (Start Sep 2014)- £70,295/£37880.12- 46.1%
    Overpayments - £18935.03
    • purplevamp
    • By purplevamp 27th May 17, 5:32 PM
    • 7,405 Posts
    • 358,841 Thanks
    purplevamp
    Can I join in please? I may not post that often as I only seem to read the boards when my DH is alseep and the clickity clacking of the keyboard would wake him up

    Ideally I'd like to be MF by 2025 but realistically I think it'll be more like 2030.

    purplevamp || original MF date 2039 || target 2030 || goal: To retire earlier than age 67 || purplevamp's diary
    Mortgage: Was: £154,495 Oct 2039
    Now: £131,937.44 Mar 2038
    MFW #28 £1100/£3,000

    Swagbucks ~ £325 (2016 ~ £340)
    Surveys ~ £279.65 (2016 ~ £407.55)
    PTC, etc ~ $329.22 (2016 ~ $696.89)

    ďArenít you a little short for a stormtrooper?Ē ~ Princess Leia

    Money's money my little honey! A rich man's jokes are always funny
    • bubblycrazy
    • By bubblycrazy 28th May 17, 9:39 PM
    • 135 Posts
    • 401 Thanks
    bubblycrazy
    That's great news amy! Welcome purplevamp (love the name) good luck with your goals
    MFW - Original balance 28/08/2014 £52850
    Original MF date: 2049 Aiming for: 2025
    Balance 28/04/2015 £52250
    Balance 27/07/2016 £49990
    Balance 08/07/2017 £47999
    • clarew
    • By clarew 26th Nov 17, 4:34 PM
    • 484 Posts
    • 407 Thanks
    clarew
    Wow-found us hidden away on pg20
    How is everyone doing...? Still chipping away..?

    2025-30 seemed a long way off when this was started but we are at the 8 year (nearly 7 year) countdown for those aiming for 2025

    Iím still trying to pay £250 extra per month which I have been struggling with recently on my 15hr week pay packet and all the kids activities costs (and teenagers food bills). Still plodding onwards and downwards and aiming for 2025 instead of 2028 original date.
    Last edited by clarew; 26-11-2017 at 4:42 PM. Reason: Spelling
    Original mortgage 185k. 2003
    Current mortgage. 96k. Dec 2016
    OP £221/month-Aiming to finish June 2025 instead of October 2028 (whilst keeping the 4 dependents fed,watered,clothed and sheltered!)
    Mfw 2015-17 #5
    • turtlemoose
    • By turtlemoose 30th Nov 17, 3:43 PM
    • 1,515 Posts
    • 4,398 Thanks
    turtlemoose
    Yes still chipping away Just had a look and if I just carried on my current monthly payment (which includes an op built in to the original mortgage payment) with no additional OPs, that makes me finished *just* in to 2031. I'm hoping of course that plenty of other OPs in the mean time will knock a few more off that!

    My standard OP is £178 a month, then whatever else we manage to make/find/save gets bunged on top. Once youngest starts school (Sept 2021) then I'm hoping to really hammer the mortgage as we will finally be free of £1k a month childcare bills. We'll still have childcare but it will be more in the £200 a month range so rather more affordable!
    • louloubelle79
    • By louloubelle79 30th Nov 17, 3:58 PM
    • 257 Posts
    • 127 Thanks
    louloubelle79
    Yes please x


    Hoping to be mortgage free by 2026 age 47

    Current mortgage end date: 03/10/2043
    Hoping to be mortgage free by 2026 age 47
    Current rate 2.79% fixed for 10 years
    Current mortgage end date: 03/10/2043
    MFW Starting Mortgage Jan 17 - £114,703
    2017 OPs £6000
    Jan 2018 balance- £105,923
    • slicence
    • By slicence 30th Nov 17, 5:02 PM
    • 203 Posts
    • 143 Thanks
    slicence
    I've had a massive change in circumstance, but still on target I'd say!

    I split up with my partner who I bought the house with, but it was amicable, and he's buying me out. So I've bought another property, on my own this time, and will be getting a lodger. My new morgage is due to end in 2043, but I think, with the power of my lodger and a payrise, by 2030. So I'm still in the gang!

    Due to be mortgage free in May 2033
    Mortgage free wannabe by May 2025, eek!
    Current daily interest ~ -£6.40 -£4.95 - £4.48
    Overpayments since June 2015 - £10,225
    • teameffort
    • By teameffort 30th Nov 17, 9:59 PM
    • 64 Posts
    • 222 Thanks
    teameffort
    Please can you add me to the list?

    Original MF date 26 years ending in 2043 but going for 2026. Goal MF by 42, thou 40 would be better Ultimate goal to travel more and stress less.
    Debt Free
    and Saving like mad
    Emergency fund £5,750 | £10,000

    2018 #143 MFW £0.00/£6500
    MFW Dec 17 101,560.00 original end date 2043 goal 2026
    • bubblycrazy
    • By bubblycrazy 1st Dec 17, 11:23 PM
    • 135 Posts
    • 401 Thanks
    bubblycrazy
    I've remortgaged to a better deal and have kept my payments the same for a bigger OP. If I keep to my current OP's my MFD is now 2030. I hope to reduce this even further but it won't be the end of the world if not.
    Well done everyone, keep going!
    MFW - Original balance 28/08/2014 £52850
    Original MF date: 2049 Aiming for: 2025
    Balance 28/04/2015 £52250
    Balance 27/07/2016 £49990
    Balance 08/07/2017 £47999
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,677Posts Today

7,134Users online

Martin's Twitter