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Paying off my fixed term mortgage pros cons
Hello My dilemma is do I pay off my mortgage in total and free up more disposable monthly income ? Or pay off max sum of 20% per year without redemption fee... I have a fixed term mortgage with 1.19% at £619 per month due to end Nov 2026 then goes back to variable rate. Current balance is £46,000. I am a 64 year old on…
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Travelling On
2018 really is a “travelling on” year for me: the final push, as far as finances and organisation are concerned. But I still need to look after the rest of me, so here it all is, adapted from the review I did on the last few pages of my previous diary: Make good memories. Building on last year. Carrying on reconnecting…
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2024 Mortgage-Free Wannabes
MFW 2024 - The annual challenge for everyone who would like to track their mortgage overpayments, mortgage payments, or even house-related savings. Feel free to join any time throughout the year. A very warm welcome to the Mortgage Free Wannabe 2024 thread! <3 Over the last few years, this challenge has been providing…
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FIREside Chats
We all know MFW is great, a friendly meeting place for folk who are all very different but a little bit similar, in that they're trying to provide stability for them and theirs by achieving something that is pretty hard work <3 I'm not sure if it's the demographics of the board, but I've noticed a lot more posts in the…
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The Long Journey Begins
Hello Everyone! 2024 has been a pretty crazy year for us - we got married...we bought a new build house...We completed just before Christmas and are kicking off 2025 in our new home together...and hopefully a diary we can stay on top of. :# A bit about us: We’re both in our mid-30s, no kids yet, but we do have a very…
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MF Motovation
What is your biggest motivation for being Mortgage Free? I’m returning after a long gap and want to start gathering some opinions to see if it can reignite an old dream ❤️
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Trying to live a simpler, frugal but fulfilling 2025
I have decided to start a diary to chart mine and my families 2025 - I have a mortgage currently which I am paying off slowly. I have just re-mortgaged for 2 years. The long term plan is to sell and buy a house with my partner and to merge our households. The whole idea of this is very stressful as I have never sold a…
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I Want To Be Free!!
Good morning a little diary here to hold myself to account as we embark on a journey to savings and mortgage freedom. This is a 3yr plan for reasons that will become clearer :) So the biggie the mortgage.. We recently did the complete opposite when we remortgaged and borrowed an extra 7k and extended the term by another…
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Onwards to freedom!
Hello and welcome to my MFW diary. Not sure how often I'll update as I'm going down the boring 'increase monthly mortgage direct debit' route, not the more interesting to read 'random repayment as and when a bit of extra money is made' route. Still, no harm in starting a diary here, even if it's just for me to look back on…
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The Hen House Chronicles
Hello folks, Former lurker and MFW frequenter here returning with a new name and diary. I haven't been around these parts for a while but was part of the Mortgage Free Wannabees challenge in 2016 and 2017 and even started my own (short lived) MFW diary in summer 2017. Life took a horribly unexpected change of direction…
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The turtle moves.... slowly
Hello all! Must admit, I spiritually feel like a DFW who doesn’t belong on the grown-ups board, but I’ve been debt free for over a year now so I'm shyly venturing into MFW territory 😂 For some background - after spending several years living beyond my means and thinking a ‘good’ salary meant I didn’t need to budget (while…
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So close, we can smell mortgage freedom!
Morning all, So, after 10 years (to the day) in this house and on my old diary, with all the trials and tribulations of not moving contained therein, I thought it was time for a new diary. My old diary is here: Finally I have a mortgage I can start to pay off! and if you have time to kill, reading it is one way to do that,…
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BookWorm's MFW Chapter
:wave: I’ve been lurking around these parts for a good while now with occasional posts here and there. However, after reaching what I consider to be a milestone with my mortgage (will come back to that shortly), I felt the time was right to start my own diary. I figured if I don’t now, I may never do so! It was after…
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Off-setting - do many people do it?
Having come into a bit of money, one option is to pay off a huge amount of the mortgage when the current deal runs out (in 2 years time). However I'm thinking that I'd rather continue to jointly pay off the mortgage with my partner and perhaps go down the offset mortgage route. My ponderings: I'm currently shoving money…
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It always seems impossible until it’s done…
I started this journey 14 years ago with some £65k worth of debt and £118k left on the mortgage. Whilst the original aim was to clear the mortgage by the end of 2023 in line with retirement plans, it hasn’t quite worked out that way. Buuuuut if I look at what we’ve achieved, we have come so far! We cleared every single…
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Katkatmachine’s Adventures to Mortgage Freedom and Life Updates
Hi everyone, I’m a new MFW, we completed last 20th November 2020 on our new build forever home. Just to share, our 2nd (and last) mortgage extension was supposed to end 21st November but we managed to complete just in the nick of time. Hehehe. :smiley: 85% LTV 10% HTB 5% Deposit 23 year term Our goal is to pay our HTB…
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Dipping my orange toes into the water..
Where to begin.. I have loved reading other people's mfw diaries and been so inspired so thank you for sharing your journeys and your advice. My DH and I and our two children live in the insanely expensive South East, so we have a beast of a mortgage despite our modest home. 329,999 to be precise. Our house is roughly…
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Withdrawing some pension to pay off some mortgage
Due to a recent change in my personal life and having to take out a new 18 year mortgage 12 months ago when I was 54 I'm left with the daunting thought of having to work beyond my 70th birthday. With this in mind I aim to clear my mortgage as soon as possible but within 10 years by making overpayments. My plan was to make…
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FtbDreaming wants to clear £69,700 before Im 40 (2027)
Hello!!! Well I joined MSE in 2016 in the DFW forums and I’ve finally progressed through to my ultimate goal as a Mortgage Free Wannabe! My house purchase has gone through today and the £69,700 is showing up in my online banking so a good motivation to get it paid off. Ive bought the house I currently live in from the…
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Living the Dream Ludlow style
Why Ludlow? A long time Poet Laureate probably says it better than ever I could ... " Ludlow....is probably the loveliest town in
England with its hill of Georgian houses ascending from the river Teme to the
great tower of the cross-shaped church, rising behind a classic market
building." - John Betjeman, 1943 Personally…
