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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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Knocking years off the mortgage…that’s the goal!
Good morning! So thought it was time I started a diary so I can keep track of progress we have made. Bought our home in 2019 with a £240000 mortgage. Consistently overpaid £100 a month for the last 4 years and now starting to tackle the mortgage seriously, we are able to overpay around £600 a month so we are clearing 2…
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Where to focus - mortgage, renovations etc?
Hello, My partner and I bought our first home together last year (we're late 30s, and both had homes of our own before). The mortgage is high, but it's a forever home and we also only put down a 15% deposit so as to keep some cash back for renovations. Although we have a lot in savings, we've found the cost of materials,…
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Mortgage free in 4 years
Hi All, I have been reading these diaries for a while, I never really post anything, but it helps keep me to my journey as nobody in real life seems to be on the same path. When I tell people I am overpaying my mortgage they ask why? lol I took this mortgage in 2016 (£310k) and the interest just got lower and lower over…
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The Ongoing Saga of Ruby Trying to Own A Home
Hello, new home, new thread. If this is your first time here, welcome, I'm Ruby and together with my husband Mr Eskimo, we're on a journey to be mortgage free. We bought our first house in 2017 and made quite a big dent in the mortgage over that time, mostly due to some inheritance money and taking advantage of a very low…
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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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Beware Mickey Mouse Mortgages from Lloyds Bank
Anyone trying to overpay a mortgage from Lloyds Bank should check every mortgage payment from day one carefully. We have had a roller coaster ride, including our mortgage term unilaterally increasing by 5 years, within a 3 month period, that resulted in 13 years of mortgage under payments. This is not noticeable unless you…
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MF Date 2037 - MOP it up by 2030?!?
Hello my fellow MFWers. I've decided to start a new thread now that I am debt free (4th June 2025) - yippeeeeee! I took out my mortgage in 2021 for 16 years and I'd absolutely love to get it paid by 2030 but we've recently been told that our tiny team in work is being transferred to another department and our job is very…
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Dilemma, Dilemma, Dilemma
Hello, I've been on MSE for many moons, gone through debt repayment and many challenges but this one feels the absolute worst. I'm kind pre 'mortgage free wannabe' but also needing the comfort blanket of a good ole MSE diary. So current situation, co-parenting with Ex H. We both have partners and everything is friendly. We…
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Moved: Mortgage deal turnaround times
This discussion has been moved.
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One step at a time
2024 has been a big (and expensive) year. I got married! We also moved into our ‘forever home’. Weddings and moving house are so expensive, and I am now looking towards getting a hold on our finances in 2025. I have been on the MSE forum for years, and contributed to some threads particularly on the old style moneysaving…
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Never a good time but here goes..
Having lurked on and off for a while, it was about time to commit. I’m 38 and about 7 months pregnant so instead of traditional nesting in the form of cleaning, I seem to have resorted to financial nesting instead. My mortgage was originally for 25 years - fixed for 4 then reduced by 3 years when I switched to a new deal.…
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Alchemausterity II
Traditionally I would post in purple, but times change and on my mobile. I was torn between DFW and MFW but I feel like this is my spiritual home! I haven't been around for years and in that time we've moved to a smallholding. DD1 now at uni, DD2 doing GCSEs and DS1 starting secondary in September. We have a whacking 270k…
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Facing repossession even though there are no arears?
My 66 year old neighbour is in an awkward position. His long term partner died suddenly in 2023 leaving the house to the partners estranged Daughter. He contested the Will as he had invested time and money into the property. The Court ruled 50/50 split and at the same time put in the order that neither party could take a…
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Mortgage free mayhem
Hi everyone! Really excited to track my mortgage-free journey at 52. Before becoming a uni lecturer this year, I've worked in charities my whole life. I've got a pension of £60K, an easy-access savings pot of £3000, and a mortgage of £84206. I want to see how quickly I can pay off the mortgage with my new higher income.…
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Paying the mortage off
Luckily we are able to pay off to mortage, and I have now a date and a redemption letter to do so. Since the amount is > 100k and it's currently on multiple bank accounts, I wonder what's the best way to do it. The HSBC guy on the phone said that in theory I can also pay from different accounts, as long as it's all the…
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Shaving off the years at Sleepy Hollow
Finally after YEARS of talking about moving DH and I have done the big move. We've significantly increased our mortgage and started off on a 34 year term to give us some breathing space for a larger mortgage payment. We're aiming to reduce our term to 20 by making regular overpayments. Interested to read along and see what…
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My Mortgage Free Mountain - A 7 year expedition to climb to the top
OH and I are in a
position where we will be able to repay the mortgage on our own home either at
the end of this year or in Jan 2023 thanks to an insurance claim we have been
waiting to pay out for several months. However we also have 3
BTL mortgages which need to be cleared and our big dream is to clear them all
before my…
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Katkatmachine’s Adventures to Mortgage Freedom and Life Updates
Hi everyone, I’m a new MFW, we completed last 20th November 2020 on our new build forever home. Just to share, our 2nd (and last) mortgage extension was supposed to end 21st November but we managed to complete just in the nick of time. Hehehe. :smiley: 85% LTV 10% HTB 5% Deposit 23 year term Our goal is to pay our HTB…
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The Mortgage Free in Three - Take 7 challenge (MFiT-T7)
A three-year challenge for all of those who are want to pay down their mortgage (or save for house-related expenses) over a longer time period than MFW. First of all, a huge thank you to trix-a-belle who ran the 4 and 5 iterations of this challenge, inspiring many of us to stay on track (and becoming mortgage-free…
