We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the
Community Noticeboard for more info. Thank you for your patience.
📨
Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Mortgage-free wannabe
Archives for December 2020
Discussion List
Repayments
Hi , I need plain English explaination about my mortgage over payments. I have a fixed rate repayment mortgage with Barclays. Recently I've decided to start over paying , not on a regular (set amount) , but a £100 here 200 there basis. My confusion is that the balance does not reduce in relation to the payments. £93,816…
Forever hopeful MFW 2026
hi all, had to set up as a new user as old log in won’t work 😬 can I ask am I better OP each month or saving into a S&S ISA then OP every year or so?
Financial Independence
Confession time, we need an outsider's perspective. This year has brought about some significant changes to our household. At the start of 2020 myself and my partner (both in our early 30s) were at the peaks of our respective careers and were loving life with our 1 year old and a happy, healthy lifestyle. Having been…
Overpay mortgage or keep an emergency cash fund?
Hi all, this is my first ever post on the forum! I am looking for some advice on overpaying my mortgage versus keeping some savings/emergency cash fund. Until recently I always felt that it was important to have an emergency fund, and for the past few years I have kept about some cash in a savings account 'just in case'.…
2021 Mortgage-Free Wannabes
Welcome to the Mortgage Free Wannabe 2021 thread! <3 Over the last few years, this challenge has been providing support for everyone who wants to overpay their mortgage, whether it is by a big or small amount. Every little helps, and together we have been overpaying close a million pounds every year over the last few years…
Paying off more including ERC, or not?
Hi. I have a 19 year mortgage at about £190K on two products averaging at about 2%. I have the option to pay off 10% per year, Early Repayment Charge (ERC) free - which intend to do. I am lucky enough to be able to afford to pay off a little more than that. My question is it worth paying off more and incur a 5% ERC against…
Changing Conveyancer mid purchase
Hi all, A very long story short, our current property solicitor has been working with us for nearly 18 months and in that time it looks like we will have failed to Exchange on 2 properties. There are a few issues but the main one is: “5. This is my main concern, there is a mortgage registered over the land and restrictions…
MFW tips and journey
Right so I have realised I want to be mortgage free. Please can anyone give me any tips? It’s all welcome. I can make an overpayment of £880 per month. I have just under 33 left over 8 years with no penalty to overpay with an interest rate of 2.77.. When I think of how much I have spent on handbags and clothes over the…
Overpayment
Hi everyone, first time posting. I have 8 years left on my mortgage through overpayments. It’s a repayment mortgage at 2.77 percent. There are no penalties for overpaying. I can now afford to pay about £750 per month overpayment. I also pay an extra £133 per month extra as part of my direct debut from my mortgage…
Our forever home
I'm a new mfw 😊, moving over from the dfw board. We moved into our forever home on 16th November 2020. 90% LTV, 25 year mortgage. We've just paid our first standard monthly payment so only 299 more to go!!! We'd like to actually pay it off a little sooner, but due to home improvements and our saving pot for IVF it's likely…
Confirm your email address to Create Threads and Reply
Is this how you want to be seen?
We see you are using a default avatar. It takes only a few seconds to pick a picture.
