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So it begins!
After stalking these boards for some time, I've decided to bite the bullet and have put in a plan to be mortgage free in five years. I've started by making swaps and looking for cheaper options and keeping a list of the difference to be overpaid. For example, I saw a gorgeous jacket in North Face in town, but found a used…
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Mortgage free target is under 10 years
I’ve been here before, over on the debt free board a while back. Quick link to my last diary https://forums.moneysavingexpert.com/discussion/5073831/working-towards-being-debt-free-and-a-new-house/p1 I’m back because we need a little motivation to stay on track :) our mortgage has 23 years left to run, I’d love to be able…
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Mortgage calculators?
I've been doing an end of year financial review and hubby has asked me where our balance will be in 3 years time when we come to re-mortgage - we're hoping our debt to asset ratio won't be quite as weak .... 😉 I need a mortgage calculator for the next 3 years that I can use from today's balance (its too complicated to do…
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Big mortgage, small steps
Hi there! I've been lurking/reading on this forum for a few years now, so thought it was time to start my own thread. I (31/f) live with my husband (34/m) and our two cats, in the south-east of England. It's an expensive part of the country but we're both from the area so never been tempted to move further afield (yet!) We…
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Mortgage Rates
Hi all, hope everyone is well. I was just looking for a bit of advice really, I’m a first time buyer and Ive been offered a mortgage but the rates is 4.47% and it’s fixed for two years. My questions is what happens after the two years ? How do I get better rates, will I have to remortgage ? Many thanks in advance, simon
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Need help to keep on track
Hi all first time I’ve ever posted on here, so not sure if I’m even doing it right, I’m not really up to speed with technology haha! Anyhow here goes. I’m in my 50’s, have a mortgage of £56000 left to pay, I can’t make any more overpayments until October 2022. I have no other debt just the usual bills and stuff but I do…
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Big mortgage - Big dreams
Hi everybody. New to this group after a long stint when I was successfully working to become debt free, something I finally achieved earlier this year. After debt-free wannabe, this feels like the grown ups board! My current situation is that I have an interest free mortgage of around £300k, and am currently on a long term…
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Help finding my balance
Hi All I enjoy coming on here to read inspiring stories and would love to be mortgage free. I am struggling to find a right balance and not be too obsessive about saving every penny and try to enjoy life as well as plan for the future. I have got to what feels like a junction at my life and I am not sure how I should…
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My FIRE and Mortgage Free Diary
Why am I typing this? Mainly because I want to be able to easily track my state of affairs from year to year. I regularly write some numbers in a random notebook and find them years later but that doesn't have the accountability or tracking. I find it easier to mentally track the numbers the way I want to rather than the…
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Nearly there.. .
Hi, I'm working my way to becoming mortgage free. My fixed rate term expires at the end of the year by then I'll have approx £5k left. I'm wondering if it's worth getting a credit card to pay this final bit off rather than remortgage for another few months? I'm not sure how it works transferring £5k to my current account.…
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9-6 next year.
Mortgage free date is almost on the horizon. 35.25k over 13 yrs. Have ramped up repayments to set from Sept 100 pounds overpayment from standard 250 per month 1.74% 2 yr fix. Early into 2022 I am to increase further to 200 pounds overpayment 450 per month. Which means reducing new term from 9 years to just over 6 years. I…
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A very long time lurker.............................
can finally say we are mortgage free!!! o:) Yippee!!! B) Swampy
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Healthy, wealthy and wise! MF in 10.
Hi, I originally joined in 2008, when I was made redundant, during the financial crisis, from a well-paying job that I loved. MSE posters helped me immeasurably to adopt frugal ways and attain debt free status. The ensuing years have been eventful with many ups and downs, but I am grateful to be here and realise that DH…
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Advice please!
Hi guys, I would like some advice please. I have two mortgages one at 1.45% interest rate (repayment mortgage 25 years) and a buy to let (25 years) at 2.25% and it's interest only. I am intending to keep both properties and would like to start my mortgage free journey with one of the mortgages. I am really not sure which…
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i made an overpayment
hi i hope this is the right area of forum to post this, apologies if not. i had built my savings up, so i decided to make a £10k overpayment to my mortgage. i wasn't sure if i should have done this, but i do like idea of getting mortgage free quicker so think it is the right decision. but it's done so i can't reverse this…
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Pay it all off??
After thoughts/opinions please! We currently have a balance of around £76k left on our mortgage. We are in the final year of a 5 year fixed rate at 2.59% and had always planned on paying off the mortgage with savings when the fixed rate ends on the 31st December this year. There is currently an ERC of 1% if we pay it off…
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Paying mortgage vs liquidity of saving
Hello, after some advice please. Large mortgage, tracker rate (base+0.64=0.74%) but due to go 1.49%(ish) in September on fix (probably). No other debts. Savings (0.5-0.61%). I'm looking at paying off some of mortgage but wondering how much savings to hold back as emergency fund? (Outgoings in a normal month £3000, Covid…
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pay off mortgage - Mortgage or Loan?
Hi all, When it comes to working out APR's, mortgage interest etc, I confess I'm not in the same league as the Chase beast. From the 1/1/21 my Mortgage is £23,597 * My rate is 1% above base rate * I am allowed overpayments and no penalty for reducing or paying off my mortgage before the end of term. * With my current…
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Attempting to get MF again...
Its been about 4 years since I've been on this site, a lot has happened. I am going to use this page as a motivation to get myself back in financial order, get rid of all debt/mortgages. Our current debts are as follows: 0% Credit card - £1,213.30 (0% rate until Mar 2022) Mortgage (our house) - £92,600 (fixed until…
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I shouldn’t be here yet....
So I don’t actually have a mortgage to pay off.... yet. but I thought I’d start a thread to track my savings and keep me motivated. I moved back into my mums for a year so that I could save enough to buy myself a one bedroom flat. Well that was around 3 years ago and I’m still here. Oops. Changed my mind after the year…
