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Mortgage Free in 10 Years - My MFW Diary
Mortgage Free in 10 Years - My MFW Diary My MFW aim is to completely pay off my mortgage in 10 years. We bought the house in May 2010 and have lived there 1 year already, so we have 9 years left to go! We are also renovating the house as it's a 18th century listed building in need of a little TLC. We're performing a bit of…
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Mortgage pay-off?
I’m not normally one for posting on forums but would just like people’s thoughts before I go to an IFA for advice. I’m 30 yrs old in FT employment, married with a 6 month-old baby. My wife and I are 5 years into our £78k 15 year fixed rate mortgage on our first home. At the moment, having made regular overpayments (albeit…
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Woman magazine would like to speak to mortgage-free wannabes - earn £50
Woman magazine would like to speak to ladies aged between 35 and 50 – one who is actively planning to pay off her mortgage as soon as possible and one woman who has a financial plan in place to pay off any existing credit card / store card debts (these can be quite small – she is just interested in the strategy she has to…
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Ecoelle's 'this time next year we'll be millionaires' thread
Ok, well maybe not millionaires but i am wanting to save some money for the future. My challenge is to save £10,000 by this time next year, we already have £5,000 so another £5,000 over the next 12 months. £400 a month would basically mean living of only my husbands income and saving everything i earn from work. A little…
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what would you do? was mf...not now.
Hello all, I would like your opinions please. Not sure what to do......a bit of background. When I divorced about 20 years ago we were heavily in debt and as he did a disappearing act I paid off all the outstanding amounts myself. Managed to hang onto the house and bought him out. I still remember the day when I could say…
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Deposit size?
Long time lurker here I find this board quite inspirational with everyone's determination to be MF. I don't know if this is a daft question but how much does the size of the deposit effect the interest rate. I know it depends on other factors such as the Boe rate and credit history, size of mortgage etc But say if you had…
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Goodbye FirstPlus
God, I'm so excited. I've paid off my account with FirstPlus, so no more secured debt, or mortgage for me. I had a heart attack in 2007 and rang them up, they agreed a 6 month payment holiday, and that was that. After 6 months they started hassling me saying I was in 6 months arrears, and threatening re-possesion etc. I…
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Crisps Mortgage Free Quest
Hi everyone, Having been an occasional lurker of this fab site for the past couple of years, I have finally gotten round to registering. I have been over paying where possible on my current mortgage, sometimes £30, somethimes £1000 - currently owing just short of £45k. Were up for renewal May 2015, however, I really want…
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Starting mortgage repayments early
Hi all, I've been looking at this forum for ages, so thought I should join in. I bought a house last year and hate the idea of paying out so much money (mainly interest for the first 5-7 years) for the next 25 years. So I have been decisive and decided to start overpaying. So far I've put away £100 a month for the last 4…
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When is it best to overpay?
Hope someone can point me in the right direction as im wondering when the best time would be to put down a lump sum on my mortgage. Our mortgage is with lloyds and our balance is £139,500. Our fixed term runs out September '12 so then we will go on another rate but as of now we are at approx 5.70% and paying £780pm, about…
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the quicker the better!??
My husband earns £31,000 and im a stay at home mother. We have a mortgage of £61,000. We have no other debts. How long would it take YOU to pay off this mortgage?
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12 goals for 2012
Hi, This your chance to be creative. List 12 goals for 2012. They don't have to be money-related. They could be anything from eating healthier to smiling more. Here are mine, in no particular order:* Spend more time with the kids. * Help OH with the chores. * Spend time and money wisely. * Overpay the mortgage as much as…
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Am i silly??
The wife and I have very little in savings but have been overpaying with our spare cash instead of saving an emergency fund. (we have £1k in savings) Am i doing the right thing overpaying £350 a month? We have no debts 6 years warranty on boiler etc so i havent seen the need to save. What would most of you do? 1. Keep over…
