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Mortgage-free wannabe
Archives for June 2020
Discussion List
It will be a marathon not a sprint - but still a MF Wannabe!
So, I started a MFW diary 3 years ago and it seems I managed two posts and that was it! So why try again now? - well, we are just waiting for the paperwork to come through for our remortgage (our 5 yr fixed finishes this month) and given lockdown etc it's given me the time to play around with some numbers and think about…
Mortgage free by 2030!
Had a diary on here years ago which helped me to become debt free. Unfortunately I’ve not been able to reset my password so the old me (copperjar) has become griffinsaver. And that’s not the only thing that has changed. Once I became debt free, I started to live my life. Got a good promotion at work, started going on…
Length of Mortgage
Hello Our current 3 year fixed term ends in September so we are looking at new rates. Our old rate was 1.94%. The mortgage term was 30 year, so we now have 27 years remaining - If we get a new deal, what is more cost effective over time - is it best to keep a 27 year term, and pay overpayments, or switch to a lower term of…
Is buying a house or flat possible for self employed?
I'm in a bit of a dilemma in life and I'll try and keep this as short as possible. Due to an ongoing injury much of my employment over the last few years has been part time (PAYE) . I'm also self employed but profits have been minimal for the last 3 years. I've been working towards learning a new craft and feel confident…
The time has come...to get the mortgage under £100k
Hello all, I used to have a diary under my old username of 'thewalrussaid' but I lost that during the forum switchover when I couldn't remember the relevant email address :'( So, I am starting a new diary. Despite some misfortunes (OH losing his job twice) and fortunes (being gifted some cash), we have brought the mortgage…
What to pay off first Interest only or repayment portion of mortgage
Hi we have a mortgage with Barclays - if has it been impossible to contact them over the last few days to speak to their mortgage team. We have £98 k on repayment and £392k on interest only - both on same interest rate We have a lump sum to pay into the account of 40K (which we have a latitude to do) However we are going…
Twenty-something's aim to be mortgage free
Hi all! I've been lurking around this forum for quite some time but have put off creating a diary of my own because I wasn't feeling confident enough to do it. But here we go anyway! I'm a 28 year old on the south coast, my partner and I bought our first home (a lovely 3 bed flat) in December 2019 with a mortgage of…
Overpayments
Hi All. I wondered if you could help me with a question? I've got a fixed rate Nationwide repayment mortgage. I've been overpaying £266 a month since March 2019. Then I missed one, so paid double the amount the following month. So have now received a letter about the £532 payment, reducing the term. I wasn't really aware…
Final mortgage payment
Hello all! So today I have made my final mortgage payment and I am going to pay the balance off with savings. My mortgage is through Barclays and they have taken the final payment, however when I go to the mortgage settlement amount it does not take into account the payment i have made today? Does anyone know how long it…
Halifax Overpayments
Morning For the last 6 months or so I have been making small overpayments on my Halifax mortgage via online banking. Do I need to contact Halifax to specify that I would like the overpayments to reduce the term of the mortgage? Since beginning making the overpayments they add upto over 1 months repayment, or 2 months worth…
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MSE News
Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.
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