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Mortgage-free wannabe

Archives for January 2013

Joint mortgage frustration
Hi, i have a joint mortgage with my ex. We had the house valued before we moved in. We split up 5 months later after I spent time and money making home improvements. I have realised in the nearly 2 years I have not lived there she hasn't payed the mortgage and it's affected my credit rating terribly. I have tried every…
A new Mortgage Free Wannabe!
Hey everyone, So myself and my partner have the following; Initial price:£89,995 Initial mortgage value:£80,995 Initial Interest and Term:5.79% fixed for 2 years on a 25 year mortgage. It expires on our next payment (15th Feb 2013). We have done extensive work to the property, including new kitchen and bathroom, full CH…
Mortgage free and debt free (nearly) but....
Hi, new poster here. I have looked around the forum but havent come across an answer for the following. I am well on the way to becoming mortgage free as planned within the next 2 years. :beer: Because I have a mortgage and paying it off regularly and never had any problems with debt , my credit score is good. But a friend…
Overpay if planning to rent?
Hi all, Both myself and my partner have our own houses with mortgages, and if things carry on as they are we will hopefully buy a bigger house and move in together, (needs to be bigger for our kids from previous relationships), but we would like to keep one of our houses as a rental investment, most likely mine. Now I have…
One tiny spreadsheet question!
Hello wise MFWers. I have a shiny new spreadsheet :j thanks to instructions on here :) Now I want to make it highlight cells in my Ending Balance column when they drop below another 000, so the first one under 150,000, then under 149,000 etc. I have found conditional formatting and I know I can set a formula but I can't…
Help Please Mortgage Situation
Hi i am new to this so hope this is in the right section. I have a mortgage of £100,000 my house is worth £160,000 - £170,000. I have slipped behind on my repayments as im on a zero hours contract at work. I ve notified the mortgage company that i forsaw a problem in early december. I managed to pay that mortgage with help…
Average? income overpayer
I've decided to be a mortgage free wannabe from the off. I got married in September and bought our first home together last month. We've borrowed £127,000 and currently the mortgage term is a whopping 30 years! I'm 34 and other half is 27. And really don't want to be paying off mortgage until I I'm 65! (I'm also a early…
Just being nosey,really!!!!
Well,here we all are,on this forum,with one major thing in common,to be MF!!!!:D So,just curious to know (sounds better than nosey;)) Once you become MF,what will you do with all that XTRA money?:D Wishing you all the best on your MF journey!!!!:T
What's the minimum you can have on your mortgage?
I was thinking about it recently, could you just leave £1 on the mortgage or £0.01? Do banks have a minimum amount before they direct debit it automatically?
Throwing My Hat in The Ring
Good Afternoon All Have spent a couple of weeks reading and absorbing as much information as possible from this thread and finally decided to throw my hat into the ring and make my challenge a real one. So I had a mortgage of £35,000 with 9 years to run which I have recently down paid by £10,000 so now sitting at £25,000.…
2 mortgages advice! Please help x
The house I live in currently has 20k left to pay off - I am overpaying by the maximum £500 month (hard but long term gain!) and will have paid it off in 2.5 years . My mortgage fixed rate (6%) due to expire in June.I have another house that I rent out and have 80k to pay on that - but the rent fully covers the mortgage…
Mfbf
MFBF - Mortgage Free By Forty. Achieved with over 18 months to spare. Think that deserves a drink! :beer::beer::beer::beer:
Mortgage Overpayment Calculator Anonymous!!!
Just a wee thread for FUN!!!! Ive been on this thread for a couple of weeks now,and i have gained a serious addiction 'MORTGAGE OVERPAYMENT CALCULATOR' .:D Its seems i am not alone in gaining this 'addiction' so this is a thread,to offer support,in your OPCA in your darkest hours,how many times,have you been over it today?…
Back on the MSE wagon
Hi All, I wanna be mortgage free ASAP (which is likely to be a looooong time as I only got a mortgage in November)...... £150k repayment over 20 years and as I am 46 years old i need to take action! A little bit about me, I was a debt free wannabe and cleared my debts in May of last year. Earlier than I expected due to the…
I will be MF, I will be MF! <3
I'm going to start a little diary of my own :D Mortgage is £74,065 over 25 years. Interest fixed 2 years is 6.29% - calculated daily. Monthly repayments are £487.23 Overpayment without penalty is 10% per year so this year £7406, I would aim for this but I only really earn about that much a year :rotfl: Hoping to make…
'Almost there...' A MFW Journey
Hello and welcome to my first ever MSE journal, my diary of our journey to mortgage freedom! :j This journal is called 'Almost there...' and as you'll soon notice we are anything but 'almost there'! It is the title of one of my favourite inspirational songs from 'The Princess and the Frog' (yes, Disney... you'll notice a…
Future mortgage question!
Hi, I wonder if anyone out there can help, i have approx £20k left on my mortgage. I intend to move house in the next year to which i will looking for a house at approx 300k, now the question is i have approx £120k equity in house i am in now and i would be purchasing alone and hopefully borrowing £180 so my question is…
Newbie to MFW - can I join in please?
Hi there, Just bought my first home and am sat here thinking about paying off the mortgage sensibly. Have spoken to Halifax this morning and after 3 phone calls have finally found out how much to pay and which method suits me best. I'll be setting up a standing order to go out the same day as my regular mortgage payment…
MFW Recipes
Since I rejoined the MFW board, I have seen some really delicious sounding recipes listed, put together with MSE intentions, for batch cooking, using up leftovers etc. I just thought that it might be nice to have a thread where we add the recipes that we have been pleased with and share them around. If people are keen, I…
The BIG Plan...
DH and I have a pretty big mortgage. We currently have around £280,000.00 with approx 27 years left to go on it. If we don't overpay and bring it down, we will finish paying when DH is 63 :eek: We bought a house that needed lots and lots of work doing to it. We have done a lot, but still have a large chunk to go. We have…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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Mortgage-free wannabe

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