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Mortgage Destruction. Beastmode Activated!
Hello everybody. So, I'm starting my overpayment journey as of today! I'm very excited. Over the last 12 months I've managed to save just on 26k. Today I will be overpaying by £21,000 and also setting up a standing order for £1500 every month to overpay and get this debt finally cleared! I'm really excited. The details as…
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Looking for advice
Hello there. :) I'm looking for advice on what is the best course of action to take with my money/mortgage situation. I have a mortgage with £58,430.63 remaining. It has 24 years and 1 month to go. I pay £339.43 per month. The interest rate is 4.74% I have savings of £26,000. I save a minimum of £1500 per month. My goal is…
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bank for best mortgage rates
being a first time buyer would like advice of which bank gives best mortgage rates and what kind of mortgage I should go for I have a 5 percent deposit and im looking for a 20 year or 25 year mortgage
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Last chance - Mortgage Packager
Hi all, I had an offer from the council to purchase my flat under the right to buy (100K discount) however I live in an 8 storey block and there are only 6 flat sold in 32. Every single high street bank and other lenders refused to lend on the basis that there is a low ratio of owner occupiers and it is a high raise…
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Mortgage reducing payments?
I must apologise first for probably coming across as a bit financially stupid, but I need some advice on our quest to be mortgage free asap... Currently mortgage is fixed with Nationwide, 5.18% ends May this year and we go back to 2.5% BMR. Means payments drop from 754 to 605 pcm on approx £100k outstanding. I've been…
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Little Steps To Mortgage Freedom
Hello all :j I have been a long time lurker of the mortgage free boards and have picked up some great tips along the way. I am so much in awe of the huge amounts some people can pay off but unfortunately I am not in a position to do this. I do however want to start to make small overpayments and hopefully, gradually…
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The Random Diary Of Mortgage free wannabe.
Where to start. I am 31 and my husband is 35. We have a little girl as have recently moved into our home. We have been lucky with property and have about 100k in equity and 210K left to pay. Scary. So I have decided we need to be more money conscious and we are trying not to spend any money at all in feb. we are now day 13…
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MFW by 50?
Hello everyone, been reading for years and finally decided to take the plunge. Read some very inspiring MFW diaries (and did that calculator on interest saved) and it has inspired me to go for it! Updated to exact figures : Mortgage amount at 31/5/15 : 151097.80 Mortgage term remaining : 17 years and 10 months Montly…
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Overpaying - Partner can't afford to.
Hi All I am wanting advice on the following situation. I bought a house last year with my partner - owing £118000 to the mortgage provider over the next 24 years. We are both debt free, but work hard for average salaries, and once the bills are paid there really isn't too much left. I regularly save £200 a month, and I…
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kensignton mortgages
hi can any one help me i read some where about kensignton mortgages years ago have been fined for cumtomers over paying on mortgages and now i cant seem to see it or find it i think it was a good few years ago i was wondering if any one else had had experiance . my payment to them is £289 a month fell in arrears i at the…
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Finally concentrating on becoming MF
Hi Everyone, I have been a very long term lurker here but have finally decided to concentrate on becoming MF by 2026.Yes I know that is a very long way out but our mortgage is due to finish in 2042 so 2026 is quite a difference. Here's a little bit about me.. Thoroughly messed up my finances when I was younger and first…
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Aiming for mortgage free
Hi, My husband and I have £130k on our mortgage. He's just turned 50 and I'll be 40 in 2 weeks. We've made a decision to be mortgage free within the next 10 years. I wish it could be sooner but we are also paying a loan from my mother at £450 per month. Going to try and remortgage later this year. There will be exit fees…
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Aspirations of Financial Freedom!
Hi all, 1st time poster, long time lurker. Thanks for all the tips and tricks I've put them all to good use allowing me to save in excess of a years gross salary in about 3 years. In December I purchased 60% of a shared-ownership property with a mortgage on approx 40% of the property, ie I had 20% deposit of the total…
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Chadwick Lawrence LLP
Thinking of using Chadwick Lawrence LLP as my solicitor. Anyone has any comments/reviews.
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Getting my head around a major change of plans.......
I've been skulking about for sometime now and finally decided to come out into the open. The background I don't do change very well! DH is about to retire in April and gets a significant lump sum. The plan was always to pay off the mortgage( or most of it anyway) and be MF. However we had a meeting with an independent…
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Overpayments - think I'm nearly sold on the idea
We're just in process of buying first house now. We'll have a £77,000 mortgage - 53% LTV. 25 year term 2.59% Nationwide 4 year fix, £349 per month Now we should, although won't neccessarily always be, in a position to overpay. I'd quite like to overpay by boosting the payment by £151 to match our current rent of £500.…
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Shall I Sell To Become Mortgage Free?
Hi, I am thinking of selling one of the two properties that I own in order to pay the other one off. There has been enough equity built up to allow me to clear the mortgage of the home that I intend to live in. I am really not sure on whether to rent it out again as I have done previously or whether to sell and become…
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One more step along the world I go.....
Hello everyone! I've been reading some of the threads on this forum for a few weeks whilst percolating! A bit about me. I've had a busy few years living modern life; having my two children, working, being a wife, looking after the house and finances etc. We had a few debts on cc and a loan for some building work that we…
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Got the dream..... Now how to achieve it?!
Us- myself, OH, ( both early 30s) 1 dog, 2cats, 2 hens and 1 pony. Our net monthly income £3500 Current house/mortgage situation House purchased SEPT 2012 FTb Purchase price £171k Current mortgage amount £142k Monthly payment £745 House soon to be extended - extension funded by 30k gift from FIL. Then planning to…
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So annoyed at myself for not making overpayments :-(
Ok so i took out a £120000 mortgage at fixed rate 5.6% over 6 years ago. It was a 35 year term and the fix was for 10 yrs. The last 6 years ive managed to accumulate £30000 of savings. Not once has it occured to me to make overpayments, im so stupid. Because id resigned myself to being stuck in this rate for 10 years i…
