-
Little big milestones
I am starting this thread to post little/big milestones on our planned journey to be mortgage free within the next 3 years. We bought our dream house 9 years ago for £200k...and took on a £170k mortgage. At the time interest rates were rocketing, and our monthly interest payment was £900. Had light bulb moment five years,…
-
the time has come...to get the mortgage below £200k
Hello all on the MFW board! It is a bit scary to start a diary so do bear with me if I start rambling. I have been a long term lurker on this forum and this board in particular for years. I have been inspired by everyone but especially Gally Girl, Tilly, GreenT, HelenDaveKids & Edinburgher, in fact it was Edinburgher and…
-
sarahevie's single quest to mortgage freedom
I had a diary a while ago but I let it slip, my circumstances have changed massively in the last six months, so I am back aiming for one thing mortgage freedom. So about me, single mummy of three beautiful girls. Full time primary school teacher, I also have a Saturday job at a well known supermarket. About six months ago…
-
Can i join your club???
Hi folks Have been a MFW for a couple of years now, but thought I would post up to tell my story Me and my wife are both 39, we bought our first property in 1999 - a new build. How easy was it back then???? The builder paid our deposit and a bit towards our legal fees. Think it cost us about £1,000 to move in! Fast forward…
-
Mort's mortgage muzzling mission
The Mortgage. Mortgage balance £21,230, approximately 12 years to run on a repayment basis. About us. I am 53 and in full time work, Mrs. Mort is younger and has been out of work for a long time because of depression. My job is currently steady but in about 18 months when a current project is set to deliver I may possibly…
-
Forever Home Fund
I have been lurking here for a few weeks and decided it was time to stick my head above the parapet :) I'm a bit of a fraud TBH, I don't even have a mortgage, but OH and I are saving to buy a house so it's kinda the same thing - will you let me join in? OH and I are both mid (ahem, okay getting less mid by the day) 30s and…
-
Apple muncher's number crunching
Time for me to start a diary :j. I work 2 days a week, dd is at school and dh was made redundant in the summer. We are living carefully, although the redundancy money is being nibbled away at of course. We are fortunate to have no debts other than the mortgage, so I would like to get rid of it! We'd also like to have a…
-
When I'm 64!
Hello everyone, I have gained so much inspiration from reading various diaries, that I have decided to post one of my own. In February 2012, I purchased a house of my own following the break up of my long term relationship. House was £162,500 with a mortgage of £127,000 over 20 years meaning monthly repayments are £716.48…
-
I have a dream...to be a money magnet!
I have never posted on any kind of forum before, but have been reading other peoples diaries and thought I would have a go... My plan is to try to overpay my mortgage for the next 4 years until my current mortgage deal ends, then to buy my 'dream' house. I have already increased my monthly overpayment by £130 per month. I…
-
Mortgage Free Wannabe - My Diary
Hello all! (waves tentatively as creeps out of lurkdom!):wave: I have read so many diaries and been inspired by them, particularly GallyGirl, Nattypants, and Tilly's so have decieded that maybe its time to start myown dairy, if only to provide me with some focus on repaying my mortgage(s). Have a 30 year mortgage taken out…
-
Mrs M's Mortgage Free Journey
Having followed the mortgage free threads for a long while I am ready and eager to take up this challenge in the New Year. I have joined the Mortgage in 3 challenge. My aim is to reduce my mortgage from £90k to £50K in the next 3 years. Last month I reduce the term of my mortgage from 13years 7 months to 10 years so now…
-
Two Pennies Left
Hello fellow MSEs. I am a long-time lurker on the site and have been benefitting from all the sage advice and wisdom of others who post their diaries here - for which I thank you greatly. Inevitably I realised that keeping a diary myself would be a great tool in keeping focussed and on track with my own financial plans -…
-
1-year in to mortgage free - Small steps make progress
Morning Mortgage Free Wannabe's! I've been reading up in here quite a lot, started early part of last year and really liked the sound of being mortgage free! So over the last 12months, I have been making small chips into the mortgage by making payments of whatever I have left at the end of the month before payday into the…
-
Finally I have a mortgage I can start to pay off!
Hi Everyone, Having been a long time lurker on this board whilst saving for a house deposit (you’re all so friendly and positive that it’s an inspiring place to ‘hang out’), my fiance and I completed on our first house yesterday! It’s a three-bedroomed terraced house in Hertfordshire (hence the long saving period) with an…
-
Davilown and family's attempt at being MF!
Well, having had a LBM in 2007, paid off in 2010, became deposit savings the following month, then finally purchasing our own place this month, we have now to become MFW. £224,995 outstanding, with an aim to over pay £300 pm and an additional lump sum payment in Oct 2020 - This will, if we're lucky, allow us to pay the…
-
Danni R's little road to riches?
Hello, I figured its time I jumped on the band wagon as well. I'm 28 and 1/12 and I have had my mortgage since april 2011. Its for £105k over 30 years. Its just little old me and I really want to pay it off as soon as I can (who doesnt?!). I got a nice sized deposit from my parents to buy it and things have changed…
-
Mortgage Free in 15 Years..... 2025
Here goes nothing................. So here I am starting my diary which I thought might help me to become a little better with my money. Over the last couple of weeks I have become slightly addicted to reading other peoples MFW Diaries so I thought it probably wouldn’t help to do one myself. A little about me, and my…
-
My Mortgage Free Diary
Hi all, After lurking here for 3 months, decided to finally sign up and start my diary. My wife and I bought a 3 bed maisonette (1st and 2nd Floor) in August 2008 for 168,000, with a 5% deposit, with Directline 30yr mortgage, 2yrs fixed at 6.89% (ouch!), and since August 2010 we are on the SVR, currently 1.5% above base…
-
Setmefree's Diary: MFi5 journey
Hi This is/was our Mortgage Free journey. MORTGAGE £250,000 Mortgage June 2003 £ 67,443 Payments/Overpayments 2003-2007 £182,557 Mortgage April 2007 - MFi3 Challenge start date (Dithering Dad's) £ 23,081 Payments/Overpayments £159,476 Mortgage April 2008 - MFi3 Challenge plus 1 year £ 40,785 Payments/Overpayments…
-
Advice re overpayments or savings
Evening all, I currently have a mortgage of 57K (3 year discounted/flexible deal @ 4.94%), house value is approx 145k. I have 6k in 2 ISA's and 4K in a 4.75% savings account. I can make overpayments (as much as I like as long as it isn't redeemed in full) but would it be sensible to make such overpayments (as much as I am…
