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Mortgage-free wannabe

Archives for June 2015

Brighter tomorrow :)
Hello :) I’ve finally decided to start my own diary, I’ve been a fan of a few diaries for some time and inspired by you all. I’m hoping this diary will motivate me to push on with overpayments (it’s going to be a long slow slog). A bit about us, I live with OH and DD who is nearly 2. OH earns a good wage. I’m due to start…
Got here by luck, intending to stay by judgement.
Having spent a chirpy hour this afternoon paying off 50k of credit card debts I actually find myself pretty much Debt Free, and so am ambling over to the more cerebral side of MSE Town to join in with the MFW cause. I have had a completely appalling attitude to money which has seen us carry ludicrously high levels of debts…
I can't sail the seas forever!
Hi all! I've been lurking in this forum since I bought my house in September last year and I've finally decided to take the plunge and join you all. As my title my allude to, I work offshore as an environmental scientist, however I'm stuck on the firm stuff and office bound for 6 months due to a back injury. This has…
My plan to be mortgage free
Hi, been browsing the forums for a while now but first post and thought I would run my plans by you all. I am divorced but in a long term, long distance relationship. After my marriage broke down I moved back in with my parents, unfortunately the marital home had to be sold just at the point the market crashed so I came…
Stalemate HELP! Ex/mortgage/moving on
Hi there I'll try to keep this as brief as possible. We need advice and fast. - 9 years ago my partner bought a house with his ex gf. - A year later he left her for me, awful I know but it was a long time ago. He moved out and continued to pay 50% of the repayment mortgage for a couple of years. - approximately 5 years ago…
£195,000 mortgage for a single mum!
I think I will start another mortgage free diary. I do have one on here somewhere, but the situation has changed somewhat. House worth approximately: £340,000 Current mortgage as of today: £106,962.44 Equity in house: £233,037.56 Unfortunately, only half of the equity is mine, so £116,518.78. However, my brother has agreed…
New to the game
Hi all, I've recently got my first mortgage aged 32 and haven't actually made my first payment yet - due 28th June. I currently owe £68,117 and even before I was approved I knew I wanted the debt gone as quickly as I can. I am with NatWest and have just set up an overpayment of £100 per month extra to increase my mortgage…
Alernative to Equity Release required!
Hello All. This is our first post. We are looking for an alternative method of funding some home improvements - new drive, new kitchen, update bathroom - prior to downsizing. We have lived in this house for 30 years and need to improve its 'kerb appeal' to get the best price possible. We are looking for a loan of £30k over…
Was Mortgage Free until 52!!!
I was a lurker, but inspired by this thread to start my own diary and although my figures are positively small fry to some - its still my mortgage. A bit about me, took the plunge and bought a house age 50 plus:eek: by myself, everyone asked "Are you mad?" But thought - I can do this. Bought at auction, so got a bit of a…
Best Mortgage for Overpayments and Lump Sums
I have a mortgage with H*BC which is fixed for 2 years, finishing November this year. I can only make 20% overpayments on the mortgage I have at present, which has to be done through the monthly DD. It appears that only tracker mortgages (or standard mortgages) allow for unlimited monthly overpayments or lump sum payments,…
Making Minijlu's house a home
Hi All So I have been lurking on various MSE boards for a while but decided to take the plunge of starting a diary to try and make sure I stay focused on the mortgage and all things MSE related. About me - Myself and my OH moved into our new house about a month and a half ago now. I sold my previous house for the deposit…
Windfall advice - throw all my money at debt and mortgage or save it?
Windfall advice - throw all my money at debt and mortgage or save it? Just having had a lump sum inherited, I'm clearing debts slowly (painful that it is) but do you advise putting more that 60% of lump sum in to paying off and clearing debt, mortgage etc or invest in ISAs and so on. I read MSE and know that cards at 19%…
Overpay or keep for a rainy day?
Hello everyone, I’m looking for some advice on what to do re overpaying mortgage or saving. Background – previously been a Debt Free Wannabe and paid off around £13,000 with the support of lovely MSE people. I currently have a £136,000 mortgage (5 year fix at 3.19% ends June 2019), I’m currently overpaying by £150 a month…
Paying off the Capital
We have recently come to the end of a 3 year fix deal on a £55K mortgage. We have been on an interest only basis and have been paying a total of £450 a month, £300 or so, of which is an overpayment to reduce the capital. We have just paid off £30k leaving us with a £10k balance. The interest on this amount is just £25.00 a…

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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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