-
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…
-
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…
-
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…
-
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…
-
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…
-
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…
-
Deleted
Deleted...
-
Frugally paying the mortgage down
Hello! I’ve decided to start my own thread here to keep myself accountable re: trying to reduce our mortgage. I read somebody’s daily interest calcs on their diary recently (sorry I can’t remember who!) and ours is at £15.03 a day - I can’t stand the thought of all that interest going towards the funding of arms and…
-
Paying off shared ownership, is this a good method?
Hi all, Hoping for any ideas or suggestions please in case I might be making any silly mistakes at all. Basic details: 50% shared ownership house Mortgage currently on 50% is £24k left at 1.49% until February 2027 (5 year fix) Rent on other half is currently £227 a month (includes building insurance) I can buy the freehold…
-
I have a spreadsheet and I have a plan!
Starting a mortgage free diary seemed utterly impossible 12
months ago. I was a broke single parent in a houseful of teens and animals,
with too much month and too little salary. A very bittersweet inheritance paid off my £30,000 debit and
for the first time in my life I have savings accounts actually earning
interest. And…
-
Help me become mortgage free before I turn 50
Hi, Any useful tips?? We are both 29 years old. I have a current mortgage outstanding of £220,000 on a house valued at £294,995. I have a 35 year mortgage fixed at 4.37% for 5 years. Just started this home journey.
-
Prosperous & Creative Soul & MFW Year 3
Two years ago I finalised my divorce and completed on my biggest ever mortgage - £202K and switched from interest only between 2 of us to repayment on my own. I took the term for as long as I could - so 22 years - which means I would be 73.5 by the time I was actually free. I've used my post from 2 years ago as a prompt…
-
Viking's Diary
So I'm a recent convert to MSE, oddly directed here by my FIL's love of the Martin Lewis Money Show. We're trying to move house right now to a place closer to work, which will actually involve picking up a much bigger mortgage, but having lurked for a few weeks I finally worked out yesterday that our current mortgage is…
-
Mortgage free or buy bigger
Hello, Looking for some thoughts on my dilemma. My husband and I are being gifted some money. This money would pay off our mortgage on the house we currently live in. We had planned to move to a bigger house in the future - maybe 2 years time (house is a 3 person - 2 bed bungalow with 2 adults and 2 children (Girls)).…
-
Mortgage Payoff
Hi, looking advice on paying off remaining mortgage. My mortgage which was on a 7 year deal at 1.99% is due for renewal shortly but an estimated £18K remaining and my queries relate to the following: 1. Plan to discuss renewal with the lender but does anyone know in advance the shortest term available for a mortgage and if…
-
Mortgage free by '33
The year, not the age! This is my first mortgage and it's been a year since I took it out. I've never really liked the prospect of being in debt but what with house prices being what they are, didn't have much choice if I wanted my own place. Last year after about a year of looking I exchanged on my first property: a one…
-
JJs Mortgage Free Journey
Hi All, thanks for having me and welcome to my new diary. I wanted to start this diary to really try and keep myself on track to get Mortgage Free by 45. It's a big aim for me and our family and I want to be much more strategic about how I do this. We are currently in the very fortunate position that I can comfortably…
-
Mortgage free or bigger house? I'm unsure what to do....
I'm coming to a bit of a crossroad in life and it would be great to get other thoughts on this. I'll try to be concise. * Myself and husband (35 and 37) have a joint salary of £128k * Two children, boy and girl, 5 and 7. * Live in a 2 bedroom mid-terraced house in East London. * House valued around £360k, £168k left on the…
-
My Mortgage Free Diary
Hi all, After lurking here for 3 months, decided to finally sign up and start my diary. My wife and I bought a 3 bed maisonette (1st and 2nd Floor) in August 2008 for 168,000, with a 5% deposit, with Directline 30yr mortgage, 2yrs fixed at 6.89% (ouch!), and since August 2010 we are on the SVR, currently 1.5% above base…
-
DrCarrie's adventures in saving to be a mortgage-free wannabe
Hello, all new friends and old? I am here for a new adventure, and to document my adventures. To notice new obstacles and turn them into paths. I have never been a saver. I am 50 and have never been a saver. I have been a spender. I have cleared my debts 3 times and spent significant windfalls. I have had 2 mortgages and…
