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Mortgage paid :)
Hello, apologies in advance if this question has already been posted. I have recently paid off my mortgage. What do I need to do now? I have contacted the Land Registry for the deeds - which I need to pay for. But is this it? and do i need the deeds now? thank you Miguel
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The 'Mortgage Free in 2030' Club
Welcome to the thread for all those MFW's aiming to get MF in 2030. This is a place for us to chat to people working to be MF around the same time. We can help each other to celebrate each OP no matter how big or small and applaud each other as we become MF. If you want to be added to the members list just post your…
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The impossible dream
Hello everyone. I am new to the forum, but have been reading for several years. It has been a help and inspiration, but I have never felt the need to get involved until today. I have been financially aware for many years and now have set a goal which I know I cannot achieve. My aim is to be mortgage free within 2 years. It…
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Climbing hills
Right, here I am all raring to go. About to get my mortgage for our next house. Slowly moving up the ladder but I feel like I'm coming to this a bit later in life than some others - I'll be 40 next birthday and want to be MF by the time fifty hits. I didn't leave Uni until I was 25 and didn't buy my first property till I…
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Single Overpayment or Fixed Rate Savings First
Hi, I've come into some inheritance and plan to use it to reduce our mortgage, however I'm trying to work out the best time to do this and if I should put it into a savings account first. We're on a tracker mortgage (thanks to the mortgage adviser claiming they couldn't see interest rates continuing to rise in April) and…
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Mortgage option for paying off
I owe just over £4000 on my mortgage with minimum subscription of £311 I have been paying . £750 per month. If I got a 0% credit card will the Platform my allow me to pay it off with a credit card
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To pay off mortgage or save deposit for house
Hello I bought a small leasehold 5 years back. My mortgage ends in 2026 with current rate of 1.72% fixed. I just checked now its insane nearing 7%!!!! i'm actually a little scared about how much it will be when i come to remortgage. I'm wasnt looking to sell because rental yield is O.K but only because of such low rate. It…
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Prosperous soul, mortgage neutrality & creativity Year 2
A year ago I'd just got divorced and was about to take on my biggest mortgage ever at £202K over 22 years. I was terrified I wouldn't make it. I'd had a long history of repeated debt cycles the worst peaking at £70K at the end of 2016 which I'd got down to £1,479 in November 2021 but feared I'd never be free. Thanks to…
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Mortgage free… la belle vie!
Hello everyone, I love reading the diaries on here & the debt free wannabe boards and am in awe of the journeys undertaken and the sheer longevity of some of the diaries! I have decided that a diary might be a healthy outlet for my money and budgeting fixation - so I’m taking the leap! I turned 29 this month and would love…
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How much are your monthly outgoings?
Hello all, I'm looking to move into a new build and will have 20% morgage to pay. I've done a budget planner to see how much I'd spend per month and therefore what's left over to pump into paying off the mortgage. I am curious as to how much others spend monthly on average, I appreciate it will vary WILDLY from family to…
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Capital vs Interest pay off
Hi all, I'm hoping that someone might be able to explain the below, I'm sure it's correct at the banks end and it's just my inexperience that needs addressing. We bought our house in Dec 2020 for £220,000 with a £45,000 deposit - so we borrowed £175k from the bank. I've worked out that over the last three years we've…
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Documents
I achieved being mortgage free on my current house in February. The bank said that they'd be sending me some documents but it could take a while since there were a lot of people paying off their mortgages at that time. I feel like I should have had whatever they were going to send me by now. Does anyone know what they…
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Aiming to be mortgage free when I'm 40.
Hi all I want to start a diary even though we are going to over pay the same amount as much as possible.. We currently live in a 2 bed home which we have no plans to sell. We have scope to extend but won't until we have savings as I don't want to put it on credit. We bought our home for 83,500 with a mortgage of 75,150 and…
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Should we make overpayments?
Hi there, Our current Mortgage deal comes to an end soon and we have fixed it again until 30.01.2026, rather than going on a variable rate. We only have approx £48K left on this mortgage and want to get it finished really by around the end of March 2027. I know that we can make overpayments. Our interest per month is about…
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Forever home... not a forever mortgage
Hello all, I’ve posted here on an old diary before, but with a completely fresh start comes a completely fresh diary! Plus I fell foul of the new forum changes having not logged in for many years ;) We’ve recently (late Jan) moved into our wonderful forever home! I love it so much already. Can’t wait for the weather to…
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Advice needed for whether to overpay mortgage or save money in ISA
Good Morning Everyone I would really appreciate some help, I am not sure I have chosen the right category sorry. My partner and I bought a property at the start of the year. We were lucky to lock in a good interest rate of 3.42% for 5 years. The current mortgage amount is around £146600 and have 34 years left on the…
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Quick Opinion
Is it still better to use money left at the end of every month to pay off some mortgage even if the interest rate on the mortgage is less than the interest rate on my savings account?
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Opportunity to be mortgage free at 33
Hi All, We've recently found ourselves in a position to be mortgage free this year, by liquidating 2 BTL properties and moving from our current house to something a little smaller. We're north Midlands so properties are relatively reasonable. Current debt is just under £450k, with around 850k in assets backing that up. My…
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Pay off mortgage or save
We have 2yrs 10mths left on our mortgage 8mths left paying £511.17/mth at 2.96% then will revert to SVR. We have enough money to clear the outstanding amount on the mortgage (£17,000.00) Should we pay the mortgage off now? Continue to pay the monthly payments and put the money (£17,000.00) we have into a saving account?
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Is now the time to use savings to pay off the mortgage?
We are currently on a mortgage interest fixed rate of 1.69%. This was a 2 year fix that ends in February. As our fixed rate was low and saving rates were going up over the last 2 years, we have been saving instead. When our current fix ends in Feb, the best rate we can switch to is another 2 years at 5.99% however we have…
