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Waving goodbye to my mortgage!
Hi, Welcome to my new MFW diary. I have posted on here before and have had a Debt free diary for a while, but feel I should now turn my attention to my mortgage for a while since my credit card debt is all on 0% and managable. I am Beachie, so called because I live near the sea and love going to the beach! I live alone…
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Confessions of a mortgage-spreadsheet-a-holic
Hi everyone :o I've really enjoyed reading everyone's MFW diaries, and have found them really useful too. So I thought it was time I did one myself (and all the people I know are sick of me talking about mortgages so I need another output!) I bought my first house in July 2009, I had a £20,000 deposit and a £108,000…
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babysteps
:rotfl: hi guys, i am now debt free and plan to start making overpayments to my mortgage, it wont be a lot monthly maybe only £50 or so but I am hoping to supplement that with birthday/christmas/cashback and any unexpected money (LOTTERY WIN - PLEASE PLEASE PLEASE:j) Anyway just wanted to say hi, i enjoy reading all the…
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Should I Become Mortgage Free
Hi, i'm new here and mortgages really aern't my expertise. I have recently come into a rather large amount of money and can afford to pay off my mortgage. However i'm wondering if this is the right thing to do. From my research is is my understanding that if i fix my mortgage for 2 years with a 3% interest rate (after…
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What to do...advice would be appreciated
Hi all My parents are in a situation now where they can afford to tackle their debts but just dont know the best way and I wasd hoping you experienced folk on here could give some pointers. They have 2 and a bit years left on an interest only mortgage but currently pay extra towards it. Its looking like there will be a…
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Mortgage overpayments
Hi everyone We recently started a new mortgage (25 years but 10 year fix @ 4.99% on £99k) which allows overpayments of 10% of balance each year. Our monthly payment is approx £570. When we applied we asked for clarification that overpayments could reduce our term rather than our monthly fee and were told that this would…
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Newbie to MFW - hello!
Hi everyone. I've recently caught the MFW bug. I just can't stop myself :j I've just got rid of the TV so I can put the licence money into paying off a few debts before I tackle the big one. :D I am strangely very excited about breaking out of these crazy mortgage chains that keep us enslaved in 9-5 jobs forever!! I've…
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Mortgage Free Wannabe stepping up....
Here's my diary about being an MFW. Me and my wife have decided that while we cannot afford to move house (too expensive) and we can't extend... we've decided to refurbish our house to spruce it up a while, and once this has been paid for, we are going to try and get our mortgage paid off ASAP. We owe £103K at the moment,…
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Should I save or Overpay
I have a 97000k mortage I took on in 2007. It was a big leap for me as my previous house only had 20K to go :) Due to my age....touchy subject:D the term was 18 years. I did this with the condition I always kept at least 12months payments in savings (cash ISA) just incase! Now the ISA is at 19K now and was wondering? If I…
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RJ - On the track but need some advice.
Dear all, been using the mortgage calculator for a couple of years and recently came across the forum. Situation: 1) I bought my first house three years ago for £122.5K. Not having had a mortgage before I went for fixed. The best I could get at the time was 5.93%. 2) Fortunately I had managed to save up and put down £32K…
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Mortgage free on a new build, is it really possible??
Hi, My partner and I have found a brilliant plot of land-it has a ruin on it with all the services connected and is a bank re-possesion going for £120,000. It would need to be flattened and be a total new build. Which is our dream!! I am 23 years old, work full time as does my partner who is a carpenter/ builder. We need…
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Counting down to mortgage free, dont know when but I do know how.
Well this is a strange feeling. 4 years ago I was in such a bad state financialy, every day was a worry. £23k in debt (cr cards, loans, hpfinance.legal costs etc) redundant and a new mortgage only 3 months old not forgetting on the brink of a divorce. I read this forum every day but was to stressed and negative to post a…
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will it be nigh on impossible??
moved as i posted in wrong area of forum!
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which banks let you view your mortgage online?
This question was asked by someone else in another post but not answered, it then got me thinking....i am out of my fixed period and want to start my overpayment journey, but would prefer an account where i can see updates to my balance when I log in, and perhaps transfer monies from a current account to the mortgage and…
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Want to be Mortage free
Hello everyone About me Married 2 children one 2 the other a few months old A&L mortgage is just over £100000 I got made redundant last year luckily managed to get a new job straight away. I have always wanted to get my mortgage paid of early use Karls mortgage calculator to check amounts. During the last 4 years I have…
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mortgage reserve
We have 12years left on our mortgage but have overpaid for some time and only owe less than £2,000 and have reserve of £100,000. Our question is should we use this reserve and keep the mortgage for the remaning term or pay it off? The interest rate we have is .75% above base rate (1.25%). We would use the money to buy a…
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Hurdler's Race to be Mortgage-Free
Driving to the track So... I have posted in the redundancy thread when I decided to take VR, and now I will be starting a new job on 1st August. Before the VR, I had been overpaying my mortgage by £300 a month and dropped it down to what it should be. I ultimately want to go contracting, so I am viewing this new job as…
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Mortgage hidden fee claim back
Has anybody been involved with a company called Signey Associates ltd? I have, and now ive paid my £695 up front fee for them to claim back "a minimum of £20k" i havent heard anything since. The phone just goes to voicemail and the agent i was dealing with isnt answering my calls. Has anybody else experienced the same. Who…
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Mortgage Free in 3 years?
I like a challenge! Currently got two mortgages: 1) £53k on flat we rent out (worth £90k) 2) £128k on a house we live in (worth £180k) Saving £2k + at the moment per month Five year Fixed (5.5%) for the flat finishes April next year and then reverts to Variable (currently 3.9%) Looking to clear up flat mortgage in two…
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Shashwoo's Mortgage free diary
Hello all, I am pretty new to this and am gonig to spend a lot of time reading through other posts to see if I am doing this all correctly. My partner and I took out a mortgage 1st time buyers in Feb 2010. The mortgage was Aprox. £114000 (I will update with all the corrct finacial details when I get home tonight) We want…