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Lumiona's MFW Diary
As a forum lurker, I'm not a threadstarter but I figured like many of you that a diary is a good accountability method. Ok so here goes: Backstory, we moved to our current house in 2006, bought for £178k mortgaged at £130k for 30yrs. Interest rates were high monthly payment about £750, went up to nearly £900 at one stage.…
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Purchase on first home completed - Time to start making a dent in the mortgage!
Well today is a pretty momentous day in our life's, after a few years of scrapping together a deposit we have been able to get our foot on the property ladder! Today we got a call at 10am to collect the keys after our offer was accepted back in late February! A little bit about us! We live on the south coast, I am 38 years…
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The second hurdle - Nichelette v the huge mortgage
Hello! I thought I would start a new diary as we attack the second phase of our mortgage... In Jan 2019 we bought our first (lovely, but little) house for 320k with a 10% deposit. South east prices :s . With the fees we began our journey with a mortgage of £289,500 over 30 years. To be honest, whilst it was affordable to…
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what to do with deeds?
We should be finished with our mortgage in about 9 months, friends have said that we should leave a small amount because then the deeds stay in the bank and are safe. If we pay of the mortgage we should never keep them in the house (in case the house burns down) and then we would have to pay the bank to keep them safe. I…
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My mortgage clobbering post
Putting this here because I'm an enthusiastic mortgage over payer and I have no one in real life to tell! Single parent for 15 years, left in £35,000 of debt by ex husband. (Paid off over 6 years). No maintenance paid in 15 years. Unable to pay capital for many years as I had to use the old endowment policy to pay off my…
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I'm paying how much interest a year??!!
Starting this to keep myself honest and on track. This is the year, well the first one of a few. I've always had the annual mortgage statement come in and put it away, little to no attention paid to it but not this time. If this was a credit card with this much interest per month I would be putting every spare penny…
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Paying off Mortgage - How do I do it.
I am in the fortunate position of being able to pay off the remainder of my mortgage when it comes out of its fixed period in Mid August. Is there anything I need to be aware of when doing this and how exactly do I do it. Do I just ring the bank and say I want to pay it off and transfer them the money or do I need to go…
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Monmouthshire BS overpayment
Hi, Is anyone with Monmouthshire Building Society and has ever tried to make an overpayment? I’m 28yrs old with a 28yr term mortgage and I’m aiming for mortgage settled by 50. I’ve calculated and need roughly £250pm overpayment. I find this wording very confusing, it says you can’t overpay then proceeds to say you can up…
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Impossible challenge
Hello! Trying to keep motivation so decided to stop lurking in the shadows and start my own thread. Family of 4 (2 adults and 2 children) with a very large mortgage of now £470k over with just over 23 years left. 1.5 years into a 5 year fix (thankfully a cheap one). OH and I are fortunate to have well paying jobs but…
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SLLM (Single Lady Large Mortgage)
Hello all SLLM - single ladies with large mortgages or single ladies who have previously had large mortgages or single laddies in the process of getting a large mortgage! So if you are a lady and own your own house then yes this is for you. Yes I could not resist it any longer. Ladies large mortgage is a loose term so if…
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Halving our income and still aiming for mortgage free!
Hi everyone, A long time lurker of DFW forum, and then here. Finally starting my own diary as I feel it will help keep me on track! As the title suggests we are halving our income as I have resigned my job in order to keep sane and support DD with home educating for the next year. The last two years we have managed to…
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2 mortgages which one to over pay?
I currently have 2 separate mortgage accounts on the same property, one is owing £82000 and the other is £50000. They are both with the same company and I make 1 monthly payment. My question would be if I was to overpay would I be best to pay off the lower or higher amount or split equally between the 2?
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Twinklies mortgage journey 2.0
New Beginnings So today is the start of our remortgage and as such I thought it would be nice to start a shiny new diary. Hopefully I can be reflective of the journey so far and make some new and focused goals. Just to bring anyone who doesn't know me up to speed. I am married, 2 kids, a dog, a house and an allotment.…
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Plan 55
Howdy all! We've recently moved to our forever home and we are determined to be mortgage free by my 55th birthday (September 2033). We've got a fair bit to play with monthly and will be adopting overpayments and maybe savings accounts? We're using all of the cashback and survey sites going! :) I am loving reading…
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Over-payment or ISA?
I don't fully understand how the interest works in mortgages but right now my wife and I overpay our mortgage each month as much as possible. We know that no matter how much extra we pay in, we won't be penalised when our fixed rate runs out in 2029. However, I'm wondering if we should put all the extra payments into an…
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Future Proofing my life: Deposit saving then MFW journey in under 13 years
I have been reading lots of these MFW diaries over the last few weeks, some 300 odd pages long and tracking a decade or more of life. They have been fascinating, very inspirational and given me some great ideas. I am looking to buy within the next year, and then get MFW and o/p as soon as I can. My savings rate, income…
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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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Life after Mortgage (before the Next One!)
I have been a long time reliant on these threads and at times considered starting my own but bottled it...now I am just going to go for it! It seems like a strange time to be starting a thread as a 'mortgage-free wannabe', but I can't imagine being off this group! It's been such a lifeline to be with like-minded people.…
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I wanna be mortgage freeeee!
Hi folks I’m a long time lurker coming out of the shadows as our circumstances now mean that we have a real shot of getting rid of the mortgage early. Me and my husband were both made redundant in January. I found a job straight away and my husband has found one and starts early May. We got a pot of money from redundancy…
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I Want To Be Free!!
Good morning a little diary here to hold myself to account as we embark on a journey to savings and mortgage freedom. This is a 3yr plan for reasons that will become clearer :) So the biggie the mortgage.. We recently did the complete opposite when we remortgaged and borrowed an extra 7k and extended the term by another…
