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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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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…
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2020 Mortgage-Free Wannabes
Welcome to the Mortgage Free Wannabe 2020 thread! :heart2: Over the last few years, this challenge has been providing support for everyone who wants to overpay their mortgage, whether it is by a big or small amount. Every little helps, and together we have been overpaying around a million pounds every year over the last…
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MF by 40!
Hello :) I have been a long time lurker here and must thank you all for your inspiration and encouragement. I am on the wrong side of my mid 20s crisis and it has dawned on me that I do not want to be paying my mortgage forever - I need to get serious about my overpayments! I live alone in my lovely little flat, work full…
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Drawing cash from house
Hello all. Hoping to find you all in great health and spirit. We are nearly mortgage free (still owing £1300 that I do not want to pay off for reasons). House is worth £500k Question: What kind of method would allow us to release cash out of the house (thinking £100k) ?? We do not want yo consider equity release. Thank you…
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Can someone please explain monthly payments and how to speed up this paying off !
So... we took a mortgage of 230k - 14 years ago. Originally the monthly repayment was around £900 at a rate of around 5%, then it dropped after 5 years to 2.75%, which was great. so we started making ovepayments of £400 a month. A few years ago, interest rates went down again, around 2.5%, now 2.1%. We took the opportunity…
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2021 Mortgage-Free Wannabes
Welcome to the Mortgage Free Wannabe 2021 thread! <3 Over the last few years, this challenge has been providing support for everyone who wants to overpay their mortgage, whether it is by a big or small amount. Every little helps, and together we have been overpaying close a million pounds every year over the last few years…
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What would you do?
Hi I currently have £160k mortgage that I am trying to pay off. I've been lucky that I am in a fixed rate of 0.99% over 5 years so my monthly mortgage payment is approx £890. I have been overpaying £500 a month as well as this is making it drop quite quickly. I've also been saving (approx £500 a month) and I am currently…
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Fully paid up
Done it. finished. 1. I decided around ten years ago. I cant be sure exactly. 2. £110,000 3. 5/01/2022 4.No matter how long it takes even if you only shave a year off your repayments. ITS TOTALLY WORTH IT. I have to admit I had help with the last few miles with a windfall from my departed dad. however he said pay it off…
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Nationwide mortgage - not applying preferences to overpayments
Not sure if anyone else has come across this with Nationwide. I have a number of mortgages with them that are all being overpaid by up to the 10% allowed each year. The problem is that Nationwide don't seem to be applying the preferences to reduce term that are set on the accounts. Each time I overpay I need to contact…
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Mortgage Conundrum
I'm toying to sell a previous martial home to pay off my flat's mortgage. The plus being every month my salary is my own but the other being I no longer have passive income or better retirement options? Open to hear peoples thoughts, for and against?
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Mortgage brokers
Hello. Is there anyone on here who can advise me if a mortgage is possible? I have 2 defaults from telecommunications one has been settled and the other is unsettled and due to fall off my credit report April 22 and the other Dec 22. I have a settled water bill from 2019 which was paid within the month. Is it possible?…
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Is there much point?
We have a 25 year mortgage, already taken off a fair amount - we've paid about £600 a month (well, it's currently £565). We've remortgaged twice, the amount paid was £625 a month, then down to £598 over the remortgaging. We don't have a huge amount of disposable income. I could potentially save around £300 a month but that…
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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…
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Pay off mortgage and start having fun!
I have been reading other peoples posts for a while,trying to get myself in the right frame of mind to start overpaying on the mortage.DH and I have a house worth about £220,000 with a mortgage of £159,000 although we only paid £120,000 for it (£93,000 mortgage) to start. So as you can see we have been not so great in the…
