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Mortgage-free wannabe
Archives for December 2014
Discussion List
Paying down as quick as possible
It was about a month ago, with my wife about to start maternity with my 1st, that I realised I needed to get a better grip on our finances. Partly because of the massive reduction in our income that will be happening over the next few months, partly because I want to make sure we can provide for our soon to be born DD. The…
Paying it slowly
Hi all, I've been reading a lot of these threads over the last few weeks and feel motivated to start my own. So here is the background - I currently have a mortgage with my dad. He has nothing to do with it but kindly said he would be on the mortgage so I could borrow enough for a decent property. Over the last few years…
Can someone advise? silly question...
Hi All, Actually still waiting on mortgage offer, but was interested to know the answer to a probably really obvious question... In the terms of the mortgage it states overpayments are: "restricted to 10% of the outstanding balance per year. A capital reduction of 10% per annum can be made without incurring an early…
How do you become mortgage free with capped overpayments?
If your mortgage has capped overpayments - how do you become mortgage free? Is it a case of saving outside of the overpayments and then seeing what penalties are in place for bigger overpayments? Or paying a lump sum at end of mortgage? OH manages our mortgage but I work our finances so wouldn't mind getting my hands…
The best way to start the journey of mortgage freedom..
I admire the enthusiasm of this forum but I'm not sure if I'm posting in the right place as right now I'm still debating whether to take the journey to become mortgage free. Before I make that decision I would like to know whether there is any benefit of overpaying whilst in a fixed deal or not? I have 2 years left on a 5…
My mortgage free mission...
Okay so here goes! I have poured over the threads and finally taken the plunge and writing my own! :eek: I'll try and explain my situation first... I'm 25. I have a mortgage with my parents on their home. I encouraged them to buy their council house 5 years ago (they were reluctant) when I was working for a bank. The…
MF by 30!
Hi All, So this is my second attempt at being MSE... *hangs head in shame*. This time last year I was determined to be MF by 30 (2020). But after a few weeks I became bored and 12 months later I'm 6k in debt and not made a single OP! :eek::mad: So long story short, if I write everything down in a diary, hopefully it will…
I really really want to be........mortgage free!
Just starting an official diary of the countdown to getting mortgage free. It will, I warn be a very long countdown! Currently standing at 140k and hoping to be mortgage free by 31.12.2020. That might be a little optimistic I know but that's what I'm hoping for. You might say, that's okay, pull your belt in but I've got a…
Clippy's first attempt at MFW
Hi all :wave: I have just returned from a lovely holiday to India yesterday, my first holiday since becoming debt free in April 2014. :j:T Since April I had been using all spare money to save for my holiday, electric work and getting a new window fitted in my bedroom. Now all thats paid for I am finally ready to start a…
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