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Overpaying mortgage
I currently owe £100,437 on my repayment mortgage with 13 yrs 5 months left to run. Currently on a 1.99% fixed rate until November 2026. After a promotion at work I’m now in a position to start overpaying the mortgage by £300 a month to pay it off sooner. Is that my best option, or should I put the £300 a month elsewhere?
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Mortgage Free Wannabe - My Diary
Hello all! (waves tentatively as creeps out of lurkdom!):wave: I have read so many diaries and been inspired by them, particularly GallyGirl, Nattypants, and Tilly's so have decieded that maybe its time to start myown dairy, if only to provide me with some focus on repaying my mortgage(s). Have a 30 year mortgage taken out…
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A little bit of me time!
A little bit of me time is what I have been craving for many years. Things have got hectic lately and decision has been made to reduce my working week to a 4 day week. This won't be imminent as this needs to be covered but even making the decision and talking to managers has release the work stress some what. Hence the…
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Plan for a Sea View - Take 3
This is my third attempt at a diary as I am rubbish at keeping them up to date. I promise to try harder as I need something to keep me going as the mortgage pay off journey seems to take an age. Its also not something I like to discuss with people in the real world as we are in a very fortunate position that we are looking…
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MF Wannabe - Sights firmly set on 2030 - Mortgage Free!
Morning everyone Have been reading everyone’s diaries here and have decided to start my own to live up to my name! 😃 I officially have 11 years left on our mortgage but aiming to have it paid off by 2030 Current mortgage debt is £69,278.38 and our lovely low interest rate ends in Dec 2025 😰 Who knows what it will be then 🙄…
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Help with overpayment questions plz.
Quickly as I know this is a pain in the tail end. i have contacted my mortgage provider to clarify the situation with overpayments. I was FTB now in 5 year fixed. they have said that I may overpay up to 10% of the balance each year without penalty, but it does not reduce the term of the mortgage. I know I am tied in now…
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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…
