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Mortgage overpayments
Hi Everyone, This is my first thread and I'm looking for some thoughts... I have a mortgage for which I am allowed to make overpayments of 10% of the previous years balance without a fee. I have made 2 overpayments, in 2 separate years, each for the max of 10% of previous years balance. Each time, the bank lowered my…
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Should I pay off my mortgage?
I am in a position to finally pay off my mortgage ... BUT I am self employed and wonder if there is any benefit to me keeping a small monthly repayment going in case I need to borrow money in the future?
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Post-paying off mortgage
I am expecting to be made redundant later this year or early next year. I intend starting my own business afterwards. My initial thought was to pay off my mortage so that my homw is paid for should I run into financial difficulty. However, I have read that, should my business fail and I have to live on jobseekers allowance…
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Overpay or continue saving? Advice sought.
Hello all, Long-term reader, first time poster. First of all, thank you to this fantastic community for helping me so far. I am always using this website to help get the most out of my money and so far I am considerably better off! OT is worried I'm in love with Mr Lewis! Thanks aside, I felt it was time to ask about my…
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Payoff Capital
Hi I was wondering if anyone has tried paying off their mortgage using a 0% credit card. Is this possible? If yes, how can I use credit card to pay off the mortgage? Thank you, Mac
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My Mortgage Free Baby Steps
I've had a tricky time over the past decade, and although I know I am very lucky to have got on the property ladder with my little flat and on my own, I find it a bit scary and also frustrating because I would really like to move somewhere bigger in a quieter place. I'd really like to have a house where I can make a home…
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Journey to be mortgage free...then what?!
Hi all I've be financially savvy for years, and have being following this forums for 10 years or so. The idea is sound - I like it. I've been hitting my mortgage hard for the past few years and have overpaid a substantial amount. If I continue on this track the mortgage is paid off within the next 3 years. I will be 41/42…
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Five year plans for my little family
Hi everyone, I've been lurking about on here for a while now and enjoy everyone's diaries so much. Having just had a baby and finding myself repeatedly coming back here in the wee small hours while I'm feeding her or cuddling her to sleep (more of the former and less of the latter atm) I thought I would start my own with a…
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“Home is the nicest word there is.”
I am starting a new thread to mark my new journey. My partner and I have a goal to pay back a family loan of £55,000 in 5 years. This was given to my partner to purchase the house we live in. To pay that back in 5 years we need to be paying off £916.67 a month. My half of this is £458.33 and I already pay £200 so I will…
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Money transfer card to overpay?
Hi everyone, I have been reading up on this forum for ages, decided today to finally join! :) I have had an idea and wondered if people could give me their thoughts. To get me started on my mortgage free wannabe journey I have already worked out that my plan should be as follows: - Fix ends July 2018 - aim to get LTV down…
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Credit card cash advances
Hi everyone. Hope someone can advise please. The last time I used a cash advance was in August 2014. I will admit that I used to use them quite a lot, when times were harder. Now we are financially much better off, have cleared debts and saved up for a deposit for a house. The problem is that 2 months ago we turned my sole…
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Where to start...
OK, So I'm about 7 months into my mortgage, and home ownership is treating me well. Finally getting a grip on where everything is going, how I want to run my home etc. I had this great idea that when I was settled I would make an overpayment every month in a bid to being mortgage-free. At the moment that feels completely…
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Overpaying mortgage
Should I overpay if I am planning to sell my new place in 4 years time. Or should i save that money.
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Putting my big girl pants on.
I will start at the beginning... 5 years ago my Husband's Mum died, followed by his Gran 3 months later. At the time we were heavily in debt with bailiffs chasing us for all sorts, had rent arrears in excess of £1500 for our housing association flat, and were struggling massively. My husband had been wrongfully dismissed…
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My Dream of Being Mortgage Free
This is my first post on the MFW board but have been following some threads. I posted under a different name on the DFW board a few years ago. I apologise for this very long post. I will inform you about my situation. I took out my first mortgage in late 1989 for £39,000 which was an endowment mortgage. A couple of years…
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A years mortgage challenge
From June this year until June next year I will try to pay off my mortgage. Today my mortgage went to just below £20,000. When my regular saver ends in December 2016 I will be able to pay off even more of my mortgage by paying a 5% fee. Then my mortgage will jump down to just £9000. I will keep on paying my mortgage until…
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Amy's mortgage free goal!
Hi I am joining this thread as I really hope to be mortgage free and would love to receive any advice and support from others aiming for the same goal. I am 33, married with 2 children. We own a house worth approx £300,000 with a current mortgage of £160,000 (give or take a couple of hundred interest, I need to check exact…
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Remortgage or not
Moved to another thread: https://forums.moneysavingexpert.com/discussion/5474986
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Dolly's dwelling dreams will become a reality.......
Getting a little ahead of myself by posting in the MFW boards at the moment but I thought why not start early. I am currently a DFW, will be DF by April 2017. My first steps to becoming a MFW are to get a mortgage so once my debt is gone it's time to start saving for the deposit. I will be buying a house based only on my…
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