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To mortgage neutral and beyond...
Hi everyone! This is really a statement of intent; I’m starting this diary now even though I’m not really going to be doing anything much with it until this time next year. We currently have ten years to go on our mortgage, and have a fixed rate of 2.19% until March 2023. Currently there is zero scope to overpay in the…
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Mortgage end September 2022
Hi we are now heading for the finish post for our mortgage to be paid off in September 2022 along with 2 other loans ending in August 2022 Currently we are paying back all three with The Nationwide the following £119.44 for towards the closing balance of £1065.39 (Basic Mortgage Rate Capital Repayment Mortgage repaid…
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VelvetFreak's Investing Adventures
Hello everyone :) So I've decided to start a brand new diary because I neglected my old one to the point it became haunted. Just kidding, it's just that I wanted a fresh start but I do feel like the old one is cursed with some negativity so here we are. A bit about me I'm 27 and live in Australia so you'll hear me talking…
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One down, Four to go
Just had notification from the bank that this month's payment will clear one of our mortgages. Over the last 10 years we've taken out 4 further advances in addition to the main mortgage. I've not really been bothered about overpayment of mortgage before as any spare cash was channelled into S&S ISAs but once the…
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What to do with mortgage over payment?
Hello to you all. I have been a fan Money Savings Expert and the forum for years and have had got great tips and advice. I had a very old account many many years ago but did not use it so decided to start a fresh from 2022 and start clearing debt and the biggest one is mortgages. Yes mortgages! I used to work for a bank…
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What happens when I pay off the mortgage?
I'm sure this seems a silly question. I have just £2620 left, and it will be around £1100 when the fixed rate comes to an end later this year. The Early Repayment penalties finish with the fixed rate, so I'm planning to pay it off when the fixed rate ends. What happens next? I've a vague feeling there something to do with…
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Silver-mystic optimistic
I’ve spent far too much time reading everyone’s stories and celebrating small and big victories with you all. I decided to start a diary as my own motivation tool and accountability as well. We finally got our mortgage, contracts are exchanged and completion date is this Thursday. Very exciting stuff, I am surrounded by…
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Help me find the incentive!
So, MSE has been along with me on my financial journey for some time, from Debt Free Wannabe, to saving a deposit, to buying a house.. and finally to remortgage (ditching my fix) and finally where I am now, with a £250,000 mortgage at a low (1.5%) interest rate. Ok. That's the background.. However, for the first time I'm…
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360 Months to go?
Hi all, I’m a bit of a lurker here, so thought I’d start a diary. We moved in late May, having sold our first home, and bought our “forever home”. We’ve taken a 30 year mortgage, but the goal is to pay if off in 22 years, before we’re 50, with a view to retiring early at 60 (in 2052!). Borrowed 95% on a 5 year fix. To…
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MFW by 50
Got a mortgage last year on a 5 year fixed rate. I took it out over 16 years so I will be MF by the time I am 54 but I would love to be MF by 50! I had all these big ideas to be paying extra off each month but tbh that has not happened. Over the last year I have slipped back in to some bad habits and I'm now in debt which…
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long time watcher - nearly there...
So just over 10 years I had a mortgage of around £135k. I came into a small amount of cash around £14.5k and wondered what to do with it and came across this forum. So taking the advice here I paid it off the mortgage but kept my payments the same at around £800 a month. Since then I have gradually increased my payments…
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Restriction on the property
Hello all, I am trying to re-mortgage my property to a new bank and the solicitor of the bank has noted a restriction on my property. it says: (05.01.2015)
RESTRICTION: No disposition of the registered estate by the proprietor of the
registered estate , or by the proprietor of any registered charge, not
being a charge…
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Transfer of Fathers House Deeds to children
My father's mortgage will be completely payed out this month. He's in his 70's and lives alone. He is considering transferring the house deeds to the family but I'm concerned about tax implications. There are 3 of us siblings in various parts of the UK and his home is in Northern Ireland. There are also grandchildren aged…
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MFW 2022
Please could I rejoin Julicorn I was 107 but any number is fine. My target is £2,500 Thank you!
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Downsize to achieve mortgage free/FIRE
I live a very frugal, single life. 30 year old guy, no dependents. My current home is coming to an end of first 5 year mortgage term. £250k value, £159k mortgage. I overpay the maximum and would expect to have it paid in 5-7 years. I put it on the market as I realised I didn’t need a house as good as this and could happily…
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Discount Duck’s Quest For Mortgage Freedom
My boyfriend lovingly (?) calls me his little discount duck - partly because I’m from Leicester (as in “Ay up me duck”) and partly because I am tight as a duck’s backside with money! This originally came from necessity, seeing my mum struggle when she became disabled and I was in my teens - working part time to be able to…
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Isa v mortgage
I have £20k in an isa and owe £19k on my mortgage.. Is it worth using the savings to pay the mortgage off, or paying £15K and a monthly surplus..
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Using my house as equity
Hi, We are looking build a new house, and using our house as equity. Myself and my wife own our house outright. I have no loans or credit cards. My income is 30k, my wife's is 28k. My wife has no loans against her, other than a credit card that's paid off every month. Our house is worth 150k to be conservative. what is…
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Saving for lump sum
I was out of work for way too long recently and my biggest worry was mortgage payments. My wife was working and my savings meant we just paid the bills as usual with no issue other than me seeing all my savings dwindle. I now have a job and I want to save as much as possible to get the mortgage paid off as that is by far…
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Overpaying with around 5 years left?
Hi - can anyone give advise on overpaying when your mortgage is nearing the end? I've been desperately overpaying as much as I can and am now 6 years from paying my mortgage. As the mortgage amount has decreased though so has the maximum overpayment allowance. Last year I managed to overpay the 10% by mid year and so saved…
