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Slow and steady wins the race (we hope!)
An attempt to remain accountable to the mortgage free by 50 goal as I have now been a homeowner for a whole year! A bit of background - bought a 75% shared ownership property in September 2017 . Mortgage of £135,000 fixed for 5 years at 3.19% (thanks to irresponsible ex ruining my credit score). Outstanding balance as of…
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Wwyd?
Hi all I have been very lucky enough to be mortgage free for a few years now and have been living in my forever home for the past 3. Except my husband and I have now decided to split up. My dilemma is... do I move from here to somewhere smaller, not as nice and without my beautiful garden to remain mortgage free or do I…
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Remortgage without a mortgage
Hi all. First time poster, and need some advice. We have been mortgage free for about 5 years. Now that our 3 children have all grown up and flown the nest, we have decided that we'd like to buy a holiday home in Turkey and would like to raise the money (100k) to do this using our house. I'm not sure where to start or how…
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A long journey to mortgage freedom
Hello, I've been lurking on the MFW boards for some time and thought it was about time I jumped in with my own diary to try and keep me motivated. A little bit about us - it's me, DH and 2 little ones who are nearly 4 and 1, we bought our forever home just over a year ago for £509,000 :eek: and now we need to get on with…
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Halifax Reduced Contractual Payments
Hi, I have been overpaying my Halifax fixed mortgage and managed to wipe nearly 5 years off my mortgage, but recently due to a glitch in their system (charging interest on the mortgage fee) they have recalculated my mortgage and reduced my monthly contractual payment by nearly 20% by setting the mortgage to repay over the…
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The power of habit
I am a lurker but now is the time to commit as I need to keep on the straight and narrow if I want to achieve my goals! The mortgage: now nearly four years in, with OPs made in the last three years to take it from £180k to £140k. Interest is 3.8%, as I fixed when the market was jittery. :mad: The near term goal: to get to…
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Overpayments
I am starting to get a bit dispirited about my overpayments. I save up to overpay £500 and this has happened most months this year. I am up to £3,500 overpayments, so seven times this year. However, what I don't understand is why my spreadsheets do not seem to completely take this into account. I have spreadsheets which I…
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The last £20k...
As of yesterday, my remaining mortgage balance has finally dropped under £20k :j (£19843.70 to be precise). If I leave it to tick along as-is it will run to January 2025, and i'll pay about £2200 in interest between now and then. Currently monthly payment is £290.06 Obviously I'd rather pay it off quicker and save some…
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Newbie here - help re the £££ left after bills paid so can attack mortgage
Hi - As a family we have 2 adults working full time with 2 teenagers, and every month we have £2400 left after the bills are paid. In my mind we should be cash rich and able to pay more on the mortgage, but it's the age old problem that we spend to our means often spending a bit of next months. Debt has been paid down a…
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Fast-approaching deadline for Interest Only BTL mortgages.
Hi all Recently inspired by reading the very absorbing and impressive debt-free wannabe posts titled: 'I don't need another latte', I decided to grasp the nettle and log my own story to being mortgage-free. My posts will focus on paying down two buy-to-let properties. Both of which are on Interest Only mortgages and the…
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SVR cos below 25,000
My mortgage provider has written and advised my fixed rate ends Oct 31, which is great. They can't offer a further fixed rate because the remaining balance is under 25K, not great. The only option open to me with my mortgage provider is SVR :( Is there a list of the best SVR's with no set up fees over a short term period…
