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Mortgage free before school fees begin!
Hi all, Starting a diary in the hope that I can keep up my motivation to clear the mortgage and also pick up any handy tips! In terms of the mortgage, I have just over £269k to pay off with 33 years and 9 months remaining on the term. We had to take out a 95% mortgage as we were caught by the second home tax (basically…
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Second Time Lucky!!
Hi all - I started my journey to mortgage freedom a few years ago but didn't / couldn't keep it up due to redundancies and illness. I am looking to sell up my current property in the next year or two, to move to the forever home. However, I'd like to reduce the current mortgage just in case this move takes a while due to…
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Mortgage free or luxury house?
Hi guys. I’m new to this so not sure what to expect. Just wanted to ask a question and to see what everything thinks. So the situation is.. a few years ago I bought my first house at 21 for 89k, flipped it and sold it just over a year ago for 120k so had a nice bit plus savings to put into my current house, currently…
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Moral Support Needed On My Mortgage-Free Journey
Hi all, I had a thread on here a few years ago and was doing quite well at chipping away at the mortgage. Lots has happened since then, I tend to waffle dreadfully so I'm going to try and keep this first post short and sweet! 2010 - House purchased £132,500 mortgage approx £63,000 with Halifax (I had a huge divorce…
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penalties if you overpay over 10%?
hello - anyone know how much the Halifax charges if you overpay more than the 10%? I've paid off a sub account of my mortgage - and now just have £39K on interest-only terms, at 3.34% until April 2021. I called Halifax to confirm figures but they said one figure then another. And refused to write to confirm. I'm worried…
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How does remortgaging work? Can I cash out
Hi I took an 18 year mortgage a year and a half ago. by the time my 2 year term is up I'll have 55k in the house. I've recently been viewing houses in Scotland that are going for 40k. Is there a way to pull my money out of the house? Ie. sell up and then get my 55k that I've paid into the house
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A new start... a long journey...
Well hello to all in here Where to start, a bit of background. I am 36, and this year have my wife an I have divorced. I was left with nothing (including no job at the time as had just had surgery) However, I am shortly completing on a new home, via the shared ownership scheme. I have done this so that my two boys (stepson…
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mortage and over paying years off mortage question
hi guys well i currently have ashared ownership house which i brought 50% 3years ago. with a mortage of 43k plus 22 k deposit, i remortaged last year to buy more of the property so now i have 80% with a mortage of 81k with a 35 year mortage, i have been over paying as much as possible and my mortage is now down to 70k i…
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Best Mortgage Providers for OPs
Hi, This may be better for the mortgage board but i wanted advice from the OP community :-) I am currently with the Leeds and bascilly they are pretty rubbish wirh overpayments. they dont recalculate anything unless I repay over £1000 in one go and there is no online access. Who are the best providers for overpaying wuth…
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SmlSaving's go a long way!
Hello, hello :) I need somewhere to muse on random thoughts and to keep focus on my savings and overall aim to become mortgage neutral. I currently have a loose plan to save as much as I can over the next 4.5 years to when my current fix of 1.89% ends to change to an offset mortgage. This is hand in hand with trying to…
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The 17 Year Goal ....
Hopefully this forum will still be around in 17 years as it is a fantastic source of information and inspiration! I am a member of the armed forces, living with DW and have no kids (yet). We have just bought our first house and will move in the first week of November. We have got a 5 year fix mortgage at 2.14% of £235000…
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Expl0rer's mortgage journey
I bought the house in 2015. The original mortgage value was £172K. Now I'm down to £143K :) The interest rate is currently just under 2%. I've made both OP's and underpayments (when I needed extra funds to complete a project); now I'm a bit over £2000 in OP's and I hope to be able to OP more or less regularly. When I make…
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23 + 38 = Far Too Long
I've been lurking here since back in April in preparation for my House Completion, which I finally did on the 26th September. Now i'm looking to start overpaying! Some background, I'm a 23 year old Single Male with a mortgage of £139,545 over 38 years and a H2B loan of £37,999. Current plan is to try and overpay as much as…
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Over payments vs Reducing the term
Hi everyone, I have just recently started to make overpayments to my mortgage (its a 95% mortgage with 33 years to go, on a two year fixed rate (just passed year one) of 3.19%). I recently moved jobs for a decent pay increase, so I am now able to make £500 a month overpayments with the aim of getting down to the next…
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House Renovated now to Over Pay
So I've finally finished the major renovations and paid off all debts apart from the Mortgage, so now it's time to tame the mortgage beast. I currently have around 21 years left with £153k at a rate of 2.19%, around 4 years left on my fixed mortgage product. For the last 6 months I have been OP around £200 a month, my aim…
