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Getting the balance right
Hi all, Long time no see, its been a crazy time for us all and for me keeping a diary was not up there with things that must be done. I still feel at home here in MFW land so if you dont mind i will stick around for a bit :) Will give you a quick run down of the story so far, some of it you will know some of it will be new…
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This is it! 2027 is the goal...
Hello I have been lurking around these boards for the past year, I have finally made the decision to start a diary to track the progress of my goal. I'm hoping that it will hold me accountable and perhaps inspire others along the way. As of May 2019 my mortgage balance was £118, 842 4 years into a 10 year fix over a 20…
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Life after mortgage free
A few years ago I posted about becoming mortgage free. I planned to stop carrying on that thrifty mindset but I decided to aim first of all for a target of £50k savings post mortgage free and then that became 100k. Now a few years later it should be heading towards 250k by the Autumn. With interest rates changing I should…
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Need a solicitor to repay an Equity Loan?
Hello I am trying to repay my final Equity Loan I took out with housing association. They insist I need a solicitor to repay the loan due to anti money laundering checks? The loan repayment will be ~£20,000. I can not find anything for private individuals. Is anyone aware of this, I do not want to pay any solicitor fees on…
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Thirty-something on 30 year plan- No Thank you
Hello! I’ve discovered this forum as few days ago by chance because I was looking for best ways to overpay my upcoming mortgage eek 🫣 I found other peoples MFW diaries really interesting and inspiring! I decided to create a mortgage free journey diary because I can see how supportive you guys are on here and hold myself…
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Mortgage free now
Well we finally did it and paid it off yesterday. I rang the bank and they said they couldn't do it over the phone so off I popped the branch- he said "you can wait and send a cheque" ...erm no thanks you charge £3 interest a day you gits. Anyhow all done ✔️ and just have to wait now for all the letters to come through and…
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Final check before committing to pay off mortgage
Our mortgage fix is coming to an end next month and we are obviously exposed now to much higher rates. Savings plus a small inheritance means that we have enough cash available to pay off the outstanding mortgage amount and leave enough savings to cover around 9 months salary. As there re no savings options that pay close…
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!!My time to be mortgage free!!
Well its about time i finally set a thread up to record all my money saving exploits. My main reason is simple - to be mortgage free by the time the hubby is 50 and i am 47!!! i dont expect anyone to read it. I am highly boring. Current situation: Hubby is 43. Full time employment and earns 41k a year without bonus - which…
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Buy to let
Is it possibly to repay an amount off a buy to let mortgage?
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Mrs S…on the road to financial freedom
Hi, I’ve been on these boards for quite a few years with a few different diaries over on the debt free wannabe board. However I’ve decided to make the jump over here as other than my mortgage, I have been debt free since 2018. Life has changed quite a bit since the end of last year. I am currently going through a divorce…
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Which is the best option when paying off my mortgage?
I have taken the very first steps towards paying off my mortgage through overpayments (only 20 years to go!). I have these 3 options on the Nationwide site to choose from and I'm unsure which is the best? Any and all advice welcome...
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Am I doing this overpayment thing right?
I'm currently on a joint mortgage from buying my council house with my now ex-husband. Although it's joint I'm making the full payment each month and have been for a while. It's in our divorce agreement that he stays on the mortgage until I can financially afford to have it put solely in my name on the basis I continue…
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Help with moving and avoiding mortgage??
Hi I am new to this forum so any advice would be great please. Husband and I just in our 50s (53/51). Around 34k left on our mortgage, paying off more to get it shorter. Looking at a change of life and new home but where we want to be is slightly more expensive and so the house are more than what we are likely to get for…
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Mortgage free by 2030!
Had a diary on here years ago which helped me to become debt free. Unfortunately I’ve not been able to reset my password so the old me (copperjar) has become griffinsaver. And that’s not the only thing that has changed. Once I became debt free, I started to live my life. Got a good promotion at work, started going on…
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Petition to Link Income Tax allowance threshold with Inflation
Hi everyone, I have started a petition on change.org asking for the Annual Tax allowance threshold to be raised annually with the rate of inflation. I started this locally but now it has drawn quite a few signatories, I realise now that I need to get a far wider audience. Here is the link https://chng.it/BCLx7hMG and if…
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Paying it all off in April. I CANT WAIT
Paying off the rest of the mortgage in full in April. I can't wait. I'm also a wee bit nervous as the entire savings pot is almost wiped out, but who cares. Our home will be ours 100%
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Mortgage overpayment tracker
Hi, I have a mortgage with NatWest in two parts. 1st part fixed ended in March 2024 2nd part fixed ended in Jan 2025. Is there a spreadsheet or app I can track mortgage balances and overpayments. Basically it shows two parts, payment amounts, interest, overpayment amount and breakdown until the balance is fully cleared.…
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Over paying mortgage or investing?
Hi guys just wanted some advice on overpaying my mortgage every month. I’ve currently got a 5 year fix mortgage at 1.44% (this was over a year ago I took this out). I am weighing up my options and would I be better off in terms of growth putting my money into index funds or to continue over paying over the 5 years?
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Early Thirties Mortgage Free Goal
Hi all. Been reading people's diaries on here about their path to being mortage free, so I thought I'd start my own. Bought a house with my wife last year. We're both in our mid twenties. £165k mortgage on a 4 bed house. Aiming to pay it off before I'm 33. Hit the max overpayment limit this year and aim to do this each…
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Lump sum at end of calendar year or drip feed through the year?
Just wanted to get some thoughts. I think a number of people are in the situation where they have a fixed mortgage deal in place where the rate is lower than the current interest rates offered on accounts. My current mortgage rate is 2.64% and I can get 3.21% from Zopa for example. I can overpay 10% with penalty/charge per…
