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An £80438 yoke around my neck - it's got to go!
Hello fellow-MFWannabes! DH and I took our current mortgage out in December 2007 with a 25 year term. It capital repayment. We were fixed at 6.5% for the first two years. Today we owe £80438.38 at 2.5% (linked to the base rate) Our regular payment is £452.21 a month. I started making small overpayments in 2012, not much…
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Title deeds
Morning everyone, having recently paid off our mortgage, we then started looking for the title deeds. Having found them at the bottom of the safe we are now left confused in that the deeds are in the name of the original vendors we purchased from. Having just recieved an e mail 'bounce back' from the solicitor we used (…
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Anyone got a Abby mortgage ??
Hi we are in the middle of moving to a new house ,our new mortgage will be with Abby, fixed for 2 year at 2.14. I know we can over pay by 10% a year but that's all I know. Some questions I have ?? 1, can I over online.? 2, can I see my mortgage balance online ? 3 , will my amount I over pay go down straight away or at the…
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2.5 years MF Plan
Hi Everyone, I thought maybe the idea of writing this down may actually help this plan happen ! I have a small fear of losing my job ... Then house.... Hence to eagerness to clear mortgage and relax. I live on my own and I plan to MF in 2.5 / 3 years ( starting from jan 2014) . After having a fixed rate mortgage for 5…
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How much of our income can you devote to MFW?
Of our net (before cash back, interest income etc) we aim to put 50% into being mortgage free. What proportions are other people managing?
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Free By Forty-Five
Just taken out my 'first' mortgage, 95% LTV on £120,000 so £114,000 with Halifax. Two year fixed rate at 5.59%. Planning on overpaying a good chunk each month, hopefully rounding payments up to £1,000 for now. First payment due to come off is for £877 but I'm going to pay the extra £123. Plan on being mortgage free within…
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Mortgage free before 60
Hello, I'm divorced and have a new partner of 8 years now, and we're both in our 50s. I'm 55 in a few weeks! Children grown up in their late twenties. I have a mortgage on the property where we live, due to be paid by the time I'm 66 ( my state pension age). However, am trying to overpay so I can have it paid off before…
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Mortgage paid off........nearly
Hi all, what should have been a day to celebrate several weeks ago has left a sour taste. With only £1000 ish left on my mortgage I rang my provider for a exact settlement figure which they gave, along with the shock news that a 'admin' fee of £225 would also be due. Whilst i'm sure this is identified somewhere in the…
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£35k to £245k to £0...
Why I'm here... MrTeapot and I are in our early-mid 30s and through overpayments have got our mortgage down to just under £35k. So, are we looking forward to being mortgage-free in two to three years' time? Nope, we've just exchanged contracts and are dramatically upsizing. :D We complete in Feb and our new mortgage is for…
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Back to basics with pavlovs_dog: the £6k sprint
A new year offers the chance to refocus on goals. After a challenging 2013 saw us take our eye well and truly off the financial ball, I felt it best to retire the old diary and start afresh. We bought our house in 2010 with a mortgage of £131k. Thanks to reasonably regular and disciplined OPs from the outset we've managed…
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Ending 2013 with 348 payments to go
Hi, Well having lurked for a little while I have decided to keep track of my progress trying to reduce my mortgage! I have spreadsheets galore and I am planning to live frugally in order to make life easier as we go along. As the title suggests I have 348 payments to go which works out to around 29 years:eek: However, like…
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Aspirations of Frugality and Fun on the Road to Mortgage Freedom
Hello All :wave: I have dipped into a few diaries on here over the last few months and am delighted to be able to start my own thread on here now :D I had a thread on the DFW boards but have been overpaying on the mortgage as well for just over a year now :) As soon as i got my mortgage I wanted to overpay and had great…
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Building The Burrow!
Hello lovely MFWs! I thought it was about time I joined you all! Erm, technically I'm still a mortgage wannabe (despite coming agonisingly close to buying several months ago), life's changed a bit since then (will get to that in a moment!), but I hope it's ok to join in with all the fun and games as I head in the same…
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Mortgage overpayment clarification please
I've been over paying my 'capital repayment' mortgage by £500 each month for many years through Nationwide, and as part of their system, for every £500 overpayment, they reduce the monthly payment paid rather than the overall term. I've used the moneysavingexpert calculator to work out how much I will save on interest and…
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Taking the bull by the horns
Hi everyone, I have been laid up in bed with my first sick day in 5 years: horrid. For some unknown reason, in my few lucid moments between bouts of delirious sleep, I read through a few of the MFW threads on here and really enjoyed them. Moreover, I feel inspired to get a grip of my own situation as I feel like I have had…
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Paying up my mortgage
My mortgage fixed rate ends 31/12/13 i want to clear the balance approx £ 29000 my mortgage provider says i cannot do this until they send me a recalculated redemption figure and there will be charges .can anyone advise what this is and what is the likely figure to be i have never experienced such difficulty and stone…
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The dream!
Hi everyone, Found this site a few months ago. I'm now addicted! I've decided to post to help achieve 'the dream'! Hopefully mortgage free in 10 years or less. Would like to set up a spreadsheet but not sure how. Bit of info on me. I'm married with two kids. We originally planned to take out 120000 but made it with 90k…
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Query about overpaying
Hi all Has anyone used martins mortgage overpayment calculator ? I just did and am not sure that it's working either that or i don't understand. My figures are 95602.19 - mortgage 24 years remaining regular payment 531.88 plus 200.00 overpayment a month. The calculator reports that i would save 24,386 pounds and pay off my…
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Possession Order
Hi, not posted on here for a while due to life working out for once, but alas over the last couple of months it has got more difficult. I am with a well-known Mortgage company, and slipped into arrears of 4,500 odd in the past couple of months due to personal issues and working abroad, thus missing out on communication -…
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MF by 30!
UPDATE: As of 30th Dec 2013, I decided to thow every penny possible into my mortgage, in order to be MF by 2020, aged 30! (6 years) :eek: Talk about an impossible task! Wish me luck!:D ORIGINAL POST: Hi everyone.I finally bought my own home! :j It’s been a whirl wind of closed doors. As a 24 year old woman, with a…