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What would you do....?
What would you do if you had the choice..... Option 1 Stay working 3500 miles away from home earning good money (tax free/no national insurance) paying £1800 a month off a £85875 mortgage and being able to go out when I want / buy what i want. or Option 2 Come back to the UK, back to friends and family working an average…
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maths help please!
Hi there. I have a mortgage and would like to work out whether I should sell my stocks and shares fund in order to bring the mortgage down. However, I cant do the maths! (Maths was never my strong point). Im going to use fictional figures here, mainly to keep the maths simple. 25 year Mortgage currently at 2% variable…
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MFi4 wannabe
Hi. Been lurking round this mortgage board for ages and have decided to join in because I think I'll feel more guilty if I don't stay focused on OP the mortgage. Strictly speaking, I won't be MFi4: I want to clear my existing mortgage (just over £36,000) so that I can take out another relatively small mortgage, allowing me…
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Lump sum to mortgage?
Hi I am looking for some advice regarding my mortgage, I am currently on a fixed rate which doesnt end until 31/10/12 the rate is 6.08% and I pay £567.12 per month. I want to pay £40,000 to my mortgage but would like to reduce my monthly amount rather than my term (obviously still allowing for possible overpayments to…
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Mortgage-Free ??
Hi everyone I am 27 and have a question. I have been saving for my mortgage deposit, and ideally I would like to have a deposit of about (£50K if possible!!) before looking for a place. So, at worst a 50% deposit. Although ideally my FTB property would be £90K max. So that gives me £10K leeway just in case. ANYWAY, will a…
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MG33 is a mortgage free wannabe!
Hello to everyone on the board :) I'm long time lurker on the MSE forums and thought it was high time I registered - this is my all time favorite thread and the diaries are a real inspiration. My partner and I have been working hard to reduce our mortgage for a while although it's only in the last two years that we have…
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Juicygirl's forever home but NOT forever mortgage diary!
Hi everyone! Serial lurker of this board here. I recently posted about whether small overpayments on a large mortgage were worth it and was surprised by the great advice and friendly welcome I got. As a result I have decided to start a diary of my own. A bit about us: Me and hubby both aged 29 but turning 30 in the next…
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We've decided to attempt the impossible
We are a military family and DH is half way through his 22 year engagement and after having the last 5 years of our lives dealing with debt we've decided to attempt what seems impossible! All our debts will be cleared by Christmas this year and we are then going to attempt to save to buy our first home outright. We've…
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Mortgage Application declined
Hi This is my first post to this forum and was wonderin whether you could shed some light into this situation. Back in November we applied to our bank First Direct for a fixed rate mortgage as our current fixed rate was due to expire at beginning of March. The fixed rate offered by First Direct was 2.99% for two years…
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Are you mortgage free? What difference has it made?
Hi, I just wondered if any of you out there have made it to being mortgage free and if you have what difference has it made to your life? I'm thinking both financially and personally. I could finish paying mine off but am on maternity leave at the moment so not quite sure what to do. Any stories out there to help me try to…
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Just overpaid 8k, was that the right thing 2 do?
After finally arriving at our first savings target (£30k :j), I’ve been able to have money spare to overpay the mortgage. I’m on 2% above BOE base and have just paid 8k off my mortgage to bring it down to £75k. I’m very very happy with myself as it was very tempting to find other uses for the 8K (new car etc). I paid it…
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Reducing mortgage payments monthly instead of the term
If i have an £80,000 mortgage over 25 yrs at approx 5.99 percent, and i overpaid £500 every month, how much would the direct debit go down by every month?
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Which mortgage should we overpay on?
I'm usually pretty good with numbers but my head doesn't seem to be working at all today! We are moving house soon and will be porting our current £81,000 mortgage which is on a lifetime tracker at 0.18% above base rate with a 2% floor so we are currently paying 2.18% (we are still tied in until November) We will be…
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How long to hold on ...
So the bank have held the interest rates again this month and I'm on a base rate mortgage, no ties at 2.5%. Last year we went for it, four jobs working in many timezones as an IT consultant, money kept aside for the dreaded tax bill but we are close to clearing the mortgage. I'm considering now setting the term to five…
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Introduction, MF wannabe
Hello one and all. I have been somewhat of a casual browser over the years but have finally got round to registering. I am the same as many of you and wishing to be mortgage free. Seeing the other posts everybody gives a brief background insight so here is mine. I have only recently (6 weeks ago) moved into my second home…
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Advice on repayments/over payments.
Hi, I am seeking a little advise about a mortgage i have just got. I'm 24 and just buying my first home, single (only way to be lol!). My house should complete in a few days, so i should start paying my mortgage next month i would think. Facts Mortgage Amount: £87875 at a 5 yr fixed rate at 4.89%. 30 yr term. 10%…
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whats the acid test of being mortgage free?
İ have done a SOA which revealed that my mortgage is about the same as my disposable assets---does this equate to being mortgage free??
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need help as a first time buyer
sorry, posted in wrong section
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Wot?! 25 years until mortgage free? -- Our dream to reduce our term --
Hi everyone! (I've copied this over from a previous post) I've skulked over here from the savings board as my OH as I received our first annual mortgage statement yesterday. To give you a bit of background information - we bought our first house in July last year. Things are going ok, and when we received our first…
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What cuts did you make to increase overpayments
I have a £96473 mortgage with nationwide on bmr rate 2.5% my normal payment is £475 but I am currently overpaying up to payment of £700. I have a loan of £189 which is paid in september and one credit card 0% with a balance of £1300. I know I should probably be paying everything to these debts but feels better for me to do…
