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Yorkielass starts again
Hi, I've had a couple of diaries on here in the past - but then got to the point where we were in a very fortunate position to be able to pay pretty much our full overpayment allowances and were on track to be mortgage free around 45, in a house we bought in 2018 and were part way through fully renovating, so I stopped…
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Remortgaging after a title split?
Hi Everyone, So I have planning permission to split my house into 3 separate apartments. My house is currently on a mortgage. wanted to ask if anyone knows if it could be a simple process of legally preparing everything with Land registry and then just simply refinancing all 3 properties on 3 new BTL mortgages, if a lender…
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Mortgages After Probate?
Hello, I'm just needing a little advice really. My mother passed away in November and last week I was (finally) granted probate on the estate. I thought the mortgage would be a simple matter of just signing it over to my name and carrying on paying as I have but I have been told that it will count as a remortgage and I…
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Five year plan
Well I'm delighted to have the following offer now set in stone for five years having paid £999 for it in June before things went crazy... 5 Year Fixed Product end date 2nd Oct 2027 Interest rate 2.59% Loan balance £123,468.23 Up from 1.99% on my first five year fix and therefore an increase per month of about £36 I paid…
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Paying mortgage bi monthly instead of monthly
Hi, So I saw some info that stated if you divide your monthly mortgage payment and pay it bi-monthly instead of the whole amount at the end of the month then it will reduce your total amount and that you can pay your mortgage off earlier. Probably a myth so a simple yes it will or no it won't would be great. Thanks
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What would you do? ( Advice requested)
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Squirreling Away Those Nuts
I have spent endless hours on this forum reading through countless people's diaries from start to finish, forever inspired by everyone's life goals, unexpected events and motivation to get those extra pennies knocked off their balance come month end! After much thought, I have finally decided it was about time to take the…
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Cautious journey to mortgage freedom
Hello, I'm a bit of a long term lurker here but finally have my own mortgage to overpay and so thought I would try to document the journey! I'm not very good with all the calculations, I mainly keep track of what I have paid in a notepad and use MSE's Overpayment Calculator to give me a rough idea of where I am. I am…
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How much balance to leave??
So I'm opting to clear my mortgage (bar a tiny bit) in July after my fixed rate ends. My HSBC mortgage adviser agreed it's a good idea to keep the mortgage running when it auto switches to a SVR rate of 6.99% until its end date of April 2034. But how much to leave in? Will £100 be ok. Just don't want it to end itself…
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Pay down mortgage or invest in an ISA?
Hello Everyone, I have fixed mortgage with an offset facility fixed at 1.84% until feb 2025. The mortgage is £200,000 and the money in the offset is circa £100,000, currently im reducing the term by using the offset savings. My question is, should i invest the offset savings in to a stocks and shares Isa instead (with the…
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Better to save or pay off some of mortgage.
Hi. Our mortgage is half repayment half interest. In total still owe 65k . On repayment side we have Isa to hopefully reach £41k target. Target time fast approaching. However I don’t know if it’s best to put the £41k into a high interest account 5%? and don’t touch it for 2 yrs building a nice bit of interest or would I be…
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Making fairy dust of the mortgage
Hi All. So 2019 is the year I can really start sorting the mortgage hence I've decided to start a diary for all the usual reasons. A bit about me, I am a single mum to a 8yr old DD, separated but looking to divorce this year as can get a no fault divorce from later on in the year and didn't fancy any mud-slinging that…
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Does a long mortgage term matter if you’re saving a good amount?
Hi all Please can someone tell me if I’ve gotten the wrong end of the stick here: I’ve just refixed my £700k mortgage at 3.89% (Santander product transfer). There are 32 years left, and I could comfortably overpay around £60k lump sum (currently earning c.5% interest in savings). If my savings interest is more than the…
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Leasehold Mortgage
Hi all, A few years ago I bought my current home, A two bedroom Coach house. After moving in I worked hard to get all my finances in order - Paid off all other debts, raised a six month emergency fund (saved in an easy access ISA) and regularly contributing to a Stocks and Shares ISA. My next goal was to pay off my…
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I feel I'm turning the corner into final stretch
I bought my property in 2007. Was in a job I had grew to be unhappy with. Decided to make a plan to be more financially and personally happier. So about 5 years ago here is what I did. * Found a new job within close walking distance. Only part time but miles happier in it plus no transport costs. * Took in a lodger, the…
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Conflicting feelings about working to mortgage freedom - or increasing borrowing
Ive struggled to decide whether to post this, but its been on my mind for about a year now. Some backstory - We are a late 30's couple with 2 young school age children outside of the expensive nursery years. We both work with a combined income of £90k. (this may only increase slightly from now on as we've both had…
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GAP and LMG, can we become mortgage free?
Well, not anytime soon but it's good to have dreams. Hello I am finally venturing over here after years on the DFW boards. THE SITUATION My DD (Little Miss Gap (LMG) age 21) and I have just bought a house together. We were miserable in our old flat and neither of us could afford to buy on our own so decided this was a…
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Calculation Formula Reuired
Good Evening Apologies for the message, I am currently 1 year into a 5 year fixed rate of 4.57% current balance £225,000. I have been making small regular overpayments. However I want to shift focus to get my mortgage payment lower (short term goal). I understand repaying capital is better So I spoke to Nationwide and they…
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Simple living in the country - back to basics
Hi all, I'm Cheery, been round here a long time now, and feeling in need of a new space to spread out for the new year :smile: We are two, Mr Cheery and I, and at the start of 2018 we moved from a terraced house in a city to a detached house with 11 acres of very soggy fields in the middle of nowhere. It's been a steep,…
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Trying to get the balance right…
So after many years of debt, then a few years of no debt but spending like there’s no tomorrow, my husband and I have decided to crack on with really planning for the future. We know what we want but just need a plan to achieve it. However we don’t want to save everything at the expenses of living now. We need to maintain…
