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A Budgeteer's Adventure
Hello all I've been writing my mortgage free wannabe plans down in a book for a while now but decided to join this forum to help my focus a bit more and hopefully benefit from being cheered on :j and being told off :naughty: when i need to be ;) - plus my handwriting isn't that neat :rotfl: A bit about me - there's just me…
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Better variable rate with more equity?
At the end of a fixed period you move to the banks standard variable rate. Does the standard variable rate vary depending on the equity you hold in the property? For example, if after the fixed rate period you have 40% equity then you get a variable rate of x% and if you have 10% equity then you get a variable rate of y%…
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The time has come...
So after talking about it for ages I am finally going to make an overpayment tomorrow. We can pay 10% of the outstanding balance as of the start of the year, so the plan is to pay off £13k tomorrow. From January I should be able to pay off just under 1k a month to keep within the 10% threshold. I really hope we can keep…
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3 or 5 yr fixed rate?
We have around 6 years left on the mortgage and as none of us are equipped with a crystal ball I am not sure whether to go for a 3 yr fixed now my current terms are up for renewal or whether to go for a 5 year and see out the mortgage? This is such a headache - any help would be amazing.
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Money for non-essentials ?
Quick question How do you decide how much to spend on non essential stuff? And do other people struggle in making sure that this is done? I could go 6 months without buying anything except maybe a lunch out on the very odd weekend. Am I far too obsessed with the mortgage?
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Saving Our forever bungalow-we dont have yet!
We have a 3 bedroom terrace house...we have just remortgaged in Dec. We would like-within 10 years to move to a different area about 10 mins drive from where we live and we would like our FOREVER bungalow-3 bedrooms. You got to have dream right? Think our house is worth £160,000-170,000 a bungalow would be £220,000-250,000…
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If you have 50K, which one would you go with and why.?
Hi all, Need your advice. I have 50K and I want to check with you what is the best way to use the 50K that will be MOST beneficial... 1) Pay down my house #1 where my outstanding principle is 193K with the interest rate of 4.25%. Payment is $1,008. 2) Pay down my house #2 where my outstanding principle is 126K with the…
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Ready to do it all over again ...
Hello, thank you for popping by :hello: I have been a regular on the debt free diaries board for years as well as dipping in here at times. I did join in Tallgirls Mortgage Free in 3 Challenge several years ago and have had several diaries over the years. This is the first time I've had one here though despite never…
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[New Diary] Mortgage Free wannabe before big 40! (2024) - new build
Hi Everyone! Long term lurker; not much poster. Been saving for a good 5-6years+ now to own our own place. Have always had a 'if you don't have the money to buy it outright; you cant have it' motto so a first-time buyer with a hefty mortgage is a bit outside of my comfort zone.. Looking to pay off my mortgage before I turn…
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Wanting to be MF but help needed
Hi all, I'm just waiting for a mortgage decision (surveyor coming Thursday) and I'm already thinking of how to be MF. My mortgage will be £105,000 monthly mortgage payment of £830 for 11 years. I tinkmif I over pay just £100 a month I can take that to less than 10 years but what is the best way to do it? Pay it monthly or…
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What plans/challenges have you got for 2017?
Hi, now I have got rid of the relatives and the kids are back in their rooms catching up on playing video games with their friends, I shall be spending the day working out my targets for next year today, not just financial but in other areas of my life too :D I know we have the very kind hiddenshadow running the mfw2017…
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Enjoying life, even with a mortgage!
Dear MFW-fellows, I decided to start my MFW diary after being inspired by all of your amazing stories! I got a mortgage almost 6 months ago and I have already managed to do some overpayments based on your suggestions and experiences. The most important lesson I learnt so far is to prioritise spending on things that truly…
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Parents Mortgage
Hi guys, reading all these mortgage free stories makes me want to help my parents get rid of their mortgage as quickly as possible. I'm getting confused with the calculators available on the website as there isn't one to see both how much remortgage and overpaying will both save us together. can anyone help break it down…
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Parents Mortgage
Hi guys, reading all these mortgage free stories makes me want to help my parents get rid of their mortgage as quickly as possible. I'm getting confused with the calculators available on the website as there isn't one to see both how much remortgage and overpaying will both save us together. can anyone help break it down…
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Our Christmas present to ourselves
MrTeapot and I just made an extra OP of £327, instead of buying each other Christmas presents. There was nothing either of us particularly wanted or needed. Plus, this amount took our mortgage below £200k - seeing it start with a 1 instead of a 2 feels amazing. :T Our friends think we're weird and unromantic so I came to…
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MFW to be
Good evening all, Firstly some background, I'm 33, full time employed (although looking to go from 37 to 30 hrs per week next year), I've a mortgage with HSBC on BOE +2.49% lifetime tracker with unlimited repayments permitted. Barring a credit card, which is paid off monthly, I have no other debt. I have been able to pay…
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Paying off mortgage at end of fixed rate help?
Hi Posted on mortgage thread but wondered whether people on here would know. I have 13 yr mortgage fixed for 5 years with Nationwide. The 5 years is up in Feb and I have heard that if I pay off the mortgage in the last month of fixed rate I will not incur any charges. Anyone heard of this? Thanks in advance for advice.
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Crunching Numbers...
Hello! So, firstly, hats off to everyone on here... You're advice & determination is inspiring! Which brings me to a little number crunching of my own... And here's my journey, so far... Skip to the bottom for a bulletpointed list if you wish... First Time Buyer c.2011 on a property worth £89,950 - it's probably worth…
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Diary of a wimpy mum
I have been on a mission to pay my mortgage off early in order to have some real choices in life. I work 3 days a week in a job that I used to love, but after several rounds of redundancies and every year a new turn around of staff, I have begun to despair of work.The office politics that I don't quite get. The pettiness…
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Mortgage neutral in 8 years!!!
I have been reading these diaries for a while now, picked up some great tips and very inspirational. We are just about to move to our forever home and taking on a rather large mortgage, so an ideal time to start our own diary. The rate on the mortgage is only 1.24% and we feel we can get a better return investing the…