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Mortgage-free wannabe

Archives for December 2011

Wobbly Jellie looks for balance!
What a year! Thanks so much for all the support on here. In the last year we got married and managed to keep to a low budget. Having gone through the DFW phase I moved over to here and we started on our mortgage when we bought our house in May 2010. We have moved very slowly in the right direction but nowhere near as much…
Newgirly's January challenge
I have decided to set myself some mini challenges for each month during 2012, its easy to get a bit stuck in a rut and I often spend more time thinking or writing about the things I want to achieve than actually doing them. SO for January I am setting myself 5 tasks:* Pay £817 off the 0% cc * Earn £167 (1 /12th of my £2012…
Mortgage free 2012
This may sound elementary to some but I am struggling to get an approx figure on how much we have saved. Any advice would be greatly appreciated. We took out a £75,000 mortgage over 25 years at 5%. We have managed to bring it in over 12.5 years period. How much have we actually saved. Thanks
It's time to attack the mortgage!
After being a longtime lurker (and a nudge or two from Museumworker), I've decided to have a stab at a diary to help sharpen my focus on reducing our mortgage. I/We (mainly me as I am a fashion addict and lover of all things lovely:o) had rather large CC bills up until earlier this year. I was promised a large windfall,…
2012 - Handmade Pressies here we come (oh & no craft spending for a whole year!!!)
Hello everyone, I'm back again and 2012 is definately going to be my year to put a serious amount of money (well for me being a SAHM anyway!) in the savings pot ready for our dream holiday and next BTL property deposit. Well thats the plan anyway!!!!! ;) OK I have decided to stick to what I know and accordingly craft is…
FifteenFifteen (1515)
I have decided to bite the bullet and document my mortgage free adventure, its trials and tribulations and hopefully successes too. My aim is to be mortgage free by 1 May 2015, hence the title fifteenfifteen ahead of the programmed 30 June 2027 and denying the man (Nationwide in my case) as much of my hard earned cash as…
Stick or Switch?
Hello MFW'ers As of today our mortgage balance is £232,705.20 We have been overpaying £132 a month for the last 5 months which - according to the MSE overpayment calculator will knock off over 4 years! :j However, we are on a 5 year fix @ 6.6%:o (ends August 2015) we rented out our first home, so remortgaged and this was…
Pammy's 5 Year MF Challenge - New Year New Target
New Year New Target Hi all that know me and welcome those that don’t know me yet! This is my second diary, first one can be found here - 1st Diary started in June 2009. Thought I would start a new diary to start things fresh in my head and to take a look back on how far I have come since I started this 2 and half years…
Does it make any difference?
I have an offset mortgage with Yorkshire Building Society, which has separate mortgage and savings accounts, but adds them together for the purposes of interest calculation. I currently overpay by around £100 per month and stick around £500 per month in the savings account. Does is make any difference doing it this way or…
Hopeless MFW needs help!
Hi All, A little about us and our situation..... I'm going to be 40 next month (shh don't tell anyone) and DH will be 48 in June. We met on 2005, have 2 teenage DD's (mine from previous marriage) and married in 2010. Unfortunately DH's Mum passed back end of 2010 and we have (subject to house completion on the 17 January…
3 weeks (approx) until Mortgage begins...
And already I'm thinking about being mortgage free! It is only(?) a £30k mortgage on an investment property that we will never live in (my in-laws will be living in it untill they die, or if they want move to another property which we will buy :) ) We will be paying over 10 years, and the payments including insurances will…
This month has really hit my MFW plans hard!
Hi, I was planning to start the new year on a high by paying a good OP of around £300. However, we have been hit by a couple of unexpected high costs: 1, Had to spend £50 on the car to fix an oil leak. 2, Having to travel to visit family 100 miles away due to special occasions (non-xmas occasions), this will come to around…
TYO's 2012 MF House Fund!....
Origonal title huh? Though I would start a shiney new diary a few days early and differentiate between years of blabbering on about myself for anyone interested enough to listen!! :p ;) Having finished off 2011 technically mortgage free (and house free!) my next big step is to hammer away at savings for one day in the…
overpayment and insurance
i have been inactive here but very active reading threads i bought the house 2 years ago with quite a bit of help and pushover from here 235000 - 60.000 deposit, leaving me with 175000. i was shattered by the no diference monthly payments make, when i received my first yearly statement ! 15 december , at 2 am, i transfered…
mortgage advice
i have a mortgage with northern rock which has run out off the fixed rate 4.79%, i phoned them up and tried to get a variable rate but they dont offer one or a fixed rate and the bloke on the phone said they wouldnt be offering one so ur best bet would to be to go else where. my problems is my house is worth 112,00 and my…
Mortgage Wannabe! A chronicle of FairyLights efforts towards home ownership!
Hello everyone :santa2: My name is FairyLight and I've been lurking here with interest for too long - inspired by your efforts and the rapidly approaching new year, I've plucked up the courage to register and start my own diary thread! In contrast to the majority of posters on the MFW board, OH and I would LOVE a mortgage…
Withdrawing overpayments from mortgage account before renting out property??!!!???
Hi All, I’ve been making overpayments on my mortgage for almost 3 years and have approx £18,000 accumulated. My 5 year 5.18% fixed with Nationwide is due to end in spring 2012. I intend to fix again for either 3 or 5 years. I’m also planning to rent my flat out for at least a year next year. The projected new rate of…
Sandrock's MF Plan
I've been on MSE for a while but have not yet found my way to this section. I'm writing down my own circumstances mainly for my own benefit to record my achievement over the next few years, but hopefully others will find it useful at some point! :beer: My story When I finished university in 2007, I moved into a rented flat…
Choices!
Hello and Merry Christmas to all! I'm a long time viewer, first time poster to MSE. I'm looking for some advice... wife and i have house valued about 125k with mortgage of approx 20k oustanding to Jan 2020. Our fixed term deal expired in November and we are now on nationwide's SVR (2.5%) and are paying £240 a month.…
Mortgage Wannabe! Not MFW!
Hey everyone! After lurking in the shadows of this forum for years I have decided 2012 is the year to come out of the dark and make a start at saving for a house deposit. Hence why I want a mortgage and not mortgage free...however that would be my next aim once I've got the house that is! So the goal is to get to £5,000 by…

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