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dreaming of financial freedom
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Combine Help to Buy with the main mortgage
Hi guys, I'm new here & would like to post a question here. I have a mortgage (approx £200000) & have a Help to Buy (approx £45000). I've bought the property a year back & I'm currently on 2 yr fixed term mortgage. I'm paying a monthly repayment mortgage and would like to combine my Help to Buy loan (it's currently…
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Mortgage and car finance Advice needed please
Hi all. This is my first post on any kind of site so please be kind. Basically my ex and I bought a house 10 years ago . We then split 6 months later and the house had gone into negative equity. When we divorced the ginacial side of things couldn't be sorted because there was no money to sort! I managed to get it done a…
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The Financial Adventures of VelvetFreak
Hello Friends :D I recently became debt free 'cept the mortgage, so I thought it was time for a new diary. If you would like to read my debt free diary, it can be found here. https://forums.moneysavingexpert.com/discussion/5610244 Long story short, I borrowed $8000 from my mum to assist with the downpayment to purchase of…
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Mortgage spreadsheets
Hi Guys, Many apologies for starting a separate thread, but i need some help. Im trying to find a mortgage spreadsheet which is simple to use, allows me to input adhoc payments, and will show daily interest. I have searched the web, and cant find what i need. Can anyone share or link what they use please? Many thanks
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Can I use credit cards to pay off my mortgage?
Hi everyone, Is it possible to pay off my mortgage using credit cards, and then switching them immediately to an interest free balance transfer card to pay off over a few years? I wonder if credit cards have t&c's which say you cannot use them to pay off mortgages. If anyone has had any experience in doing this, any…
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We Need a Budget To Stop Us Coasting
Hi I couldn't decide which board to post this on as I need to deal with all areas of our finances so I guess we could come under many boards but I want to have a place to track it all. If this isn't the right place let me know and I will ask for it to be moved appropriately. My aim as the title says is to stop coasting. We…
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Taking Control and Making It Happen
I've been a bit of a lurker on these forums but now I'm getting serious as my light bulb moment happened this week! My household is me, my OH and our pooch. For the last 3 years we have been planning to move to Wales. The plan all depended on OH getting a transfer with his work and me finding work once we moved, so we have…
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Mortgage v Pension
I bought my first house a year and a half ago and have already started overpaying as I hate being in debt. To be mortgage free is definitely a nice dream. What does everyone do to balance paying down the mortgage versus paying into a pension? I am not suggesting anyone should not pay into a pension to pay down their…
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part time worker, full time dreamer
Hi Everyone, think its time for a fresh new diary to reflect my new life. I've made the huge decision to go part-time at work. However, we still want to maintain our lifestyle (if possible!) and also our dreams of being mortgage free as soon as we can. This diary will be an attempt to reduce our expenditure as well as make…
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Advice - Mortgage, Inheritance and Divorce
So, I need some advice, Martin would be rolling his eyes at me, as I am aware you will be too. So I split up with my husband January 2016. August 2016 my father died, I spent the 8 days in hospital watching him die, my husband moved back into the family home to care for our children, 7 and 11 at the time. When my dad had…
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Understanding ERC and overpayments.
I am coming to then end of my mortgage and think this will be the last time I will remortgage, or get a new deal with same provider. Should I ask them to shorten term? I still have 9 years left on the term. However I think I have overpayed in the past so that I can actually finish paying off the mortgage within the next 3…
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I am now mortgage free
Today I have paid off my mortgage Early in June I gave a £3000 overpayment and then on 12th June I paid my direct debit. Today i phoned Nationwide and paid off the remainder. They will be sending me some paperwork. I began my mortgage in 2010 and began overpaying in 2013. I had a fixed mortgage so had to pay fees I feel…
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Is it worth decreasing the mortgage term years? I already do overpayments
Hi all, Is it worth decreasing the mortgage term years on my property? How can I calculate if this is right thing to do right now? E.g. I have a 25 year term mortgage. I overpay by £10,000 a year currently and have £110,000 left to pay on my mortgage. I am trying to understand if reducing the mortgage years is wise or not.…
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Chip Chip Chipping away
Well after logging on today, I had a message containing a 10 year badge, so looks like I've been lurking around here for a while! I've just purchased my first property - 2 bedrooms, that met all my goals - Central to town :starmod: Bigger than current rented flat :starmod: Cheaper than my current rent :starmod: All things…
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What's the best method to overpay?
I'm 7 months into a 25 year mortgage. £71800 left to pay, currently 7 months into my 2 year fix rate at 2.34%. I've been overpaying £50 a month making my payments approx £370 a month. I can probably afford more than this but just been wanting a nice chilled out life at the moment with my 1 year old. I'm now changing my…
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Mortgage free in 3(ish) years.
Hi, got a question around part interest only part capital and interest mortgage (£50k +£10k@ 2.5%) that i want to start overpaying with money i was paying to a further advance but have paid this off with endowments earmarked for interest only part as this was 3.75% with nationwide. I have half share in a rental worth…
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Mortgage day one - Diary to MF
Hi All, Like many in the past I've been a 'reader' - reading all of your useful tips and advice and other people stories as inspiration. But now feel like I have my own small story to tell and hopefully get a bit more advice and encouragement from you wonderful bunch! Even if no one reads this or comments I'll be filling t…
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How a leaseholder can buy part of a garden from the freeholder
Hello I am a leaseholder of a first floor flat in a converted Victorian house. There are two other flats in the building - one below, one above - but they are both still owned by the freeholder so until he sells both flats (which I understand he has no plans to), I understand I cannot buy the freehold/share of freehold to…
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Simple app that allows you to track mortgage OPs and balance?
Been looking for a while since started MFW journey January, can't find a easy to use app that allows me to check progress? Any recommendations? Thank you
