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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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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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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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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…
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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…
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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…
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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…
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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.
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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…
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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…
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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)).…
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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…
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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…
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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…
