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Mortgage-free wannabe
Archives for May 2016
Discussion List
Getting rid of the mortgage in 2016
So this thread is an effort to make sure that I stay on track with my target of paying off our mortgage by ideally the end of the year (at the moment it’s looking more like it might be February 2017, but still aspiring for 2016!) We are in a very lucky situation that both myself and DH have good jobs, and I am currently…
Any disadvantages?
Just wondering if there are any disadvantages to being mortgage free. 1) I have heard that it can have a negative impact on a credit score - is this the case if you have other credit e.g. credit cards paid in full each month, 5% car loan paid each month? Will it make it more difficult to get a mortgage in future if you…
Mortgage Free - Long Road
Hi, We are 2.5 years into our 25 year mortgage and after focusing spending on doing our house up we are moving to overpayments as well. Currently we have overpaid by £3.5k and will continue overpaying at £500 a month until the extension is finished when this may rise. Separately something such as children may put a stop to…
Negative equity - negotiating with lender
Does anyone have any experience of marketing their negative equity property in Northern Ireland (or elsewhere) and then negotiating with the lender to do a deal on the shortfall? If so, which lender? This is something I am considering doing to address c.£70k negative equity - I know lenders do it behind closed doors, but…
Mortgage Free Then Travel World
I am soon going to put down a mortgage to a cheap studio apartment. I am going to pay off the mortgage as quickly as possible. My question is: After paying off the mortgage could I rent out the property which would be my income to travel the world. I would travel the world from communes to volunteer projects and then leave…
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