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Our Mortgage Free Journey
Hi everyone! We're in the middle of purchasing our first house and we've known we wanted to overpay since before we'd even found one, so I thought a diary here might help keep us motivated. :) A little about us... There's my husband and I, both 29, plus our daughter who is 13 months old. We live on the outskirts of Belfast…
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2033 the year I am going to be free!
I am hoping thirteen years from now I will enjoy a debt-free life - fingers crossed! I would like to start a diary to help me stay focus on my goal and to find support and inspiration from other people here in this community. Me and my husband started saving money for deposit year 2016 as we realised the house rent will go…
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Tip toe towards my goal
Well I read mortgage free diaries all the time and find them motivating. So going to do a diary myself and log how I get on. Property purchased five years ago for £155000 now has I think £119570.24. This was a five year fix and and at the end of December will have 19 years and 4 months left. It has interest at 2.99%. I…
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How do I work out my daily/ monthly interest please
Maths is so not my strong point. Please could anyone help? Mortgage 43800. Interest is 0.85% What is that a day and per month please ? If you show me the sum I can learn as I over pay monthly thank you X
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Advice please paying mortgage off early
Advice please, I'm in a lucky position whereby I can pay my mortgage off early My balance is £88k , my current term is 1.94 until 31/7/24, current mortgage payment of £805 a month. Erc is £2402. Would I be better off staying as I am or paying it off and trying to get a 2nd home , I've owned my property 17 1/2 years and…
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Help to buy life insurance?
Hi, my broker seems to think we need life insurance to cover our HTB equity loan, please can someone confirm this :)
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Should Mortgage Companies be forced to be more helpful?
I have my mortgage with Platform (part of the Co-operative Bank). I'm trying to pay off my mortgage in the next 12-18 months but I find them singularly unhelpful when trying to work out the most cost-efficient way to do it. I ended up having to create an excel spreadsheet to help me work out the best way forward. I think…
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Natwest larger payment
Hello, I will be making some larger payments on my Natwest Mortgage accoint around 7k. Just wondering do they they ask proof of funda etc? I don't want payment to be blocked. Thanks
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Gifted £100k - wanting to Overpay - Lump Sum n Fine or stagger it until fixed term runs out 2023
My hubby and I have been gifted £100k We owe about £190k on the Mortgage, we want to overpay Option 1: if we paid £100k now we would be fined approx £1600 -£1700? Option 2: if we can overpay £18k now, then next year £17k and then in 2023 when we remortgage in March 2023 pay approx £75k off the remainder then ? Which option…
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Overpayment Confusion
Hi I am a bit confused about shortening the term vs reducing monthly payment. As we are now overpaying by £500 a month the bank automatically reduces our monthly payments. I've asked if we can keep them the same but we can't unless I reduce the overpayment under £500. I could ask to reduce the term but I want the…
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Babystep 6
Hiya :) How's everyone doing? I'm a newbie here and have spent the last 2 years hanging out on the dfw boards, paying off £21,228.07 of debt - here's the link to my diary if you fancy a look. https://forums.moneysavingexpert.com/discussion/5865681/tidying-up-the-mess/p1 I am self-employed and OH has a very stable job. We…
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Removing a Charge in Scotland
Just paid off my mortgage and in the termination letter am told that I must employ a solicitor to remove the charge from virgin. Any ideas how much this would cost me and how to go about finding a reasonable solicitor?
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Try again and try harder
Last years money saving plans went right out of the window as did lots of my other plans .I have been waiting for today ,for a new year to try and motivate myself back in to action so here i am again.. I am afraid my numbers are more or less the same , i paid off several debts last year as i was afraid that if my husband…
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Mortgage Rates
Hi all, hope everyone is well. I was just looking for a bit of advice really, I’m a first time buyer and Ive been offered a mortgage but the rates is 4.47% and it’s fixed for two years. My questions is what happens after the two years ? How do I get better rates, will I have to remortgage ? Many thanks in advance, simon
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Big mortgage - Big dreams
Hi everybody. New to this group after a long stint when I was successfully working to become debt free, something I finally achieved earlier this year. After debt-free wannabe, this feels like the grown ups board! My current situation is that I have an interest free mortgage of around £300k, and am currently on a long term…
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Green Bean's Mortage-Free Dream
This is a bit premature but I've been lurking in the background on this forum for a while and I'm hoping that setting up a diary of my own will help keep me motivated and accountable for what feels like a very long slog ahead. I'm 21 and have just started by first proper (post-uni) job, which pays 23k pre-tax, and I'm…
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Need help to keep on track
Hi all first time I’ve ever posted on here, so not sure if I’m even doing it right, I’m not really up to speed with technology haha! Anyhow here goes. I’m in my 50’s, have a mortgage of £56000 left to pay, I can’t make any more overpayments until October 2022. I have no other debt just the usual bills and stuff but I do…
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Mortgage
I've came to the end of my 5 year fixed and got 5grand left to pay to my mortgage whats the best way forward
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Thought it was time to join
Hi all, Long-time lurker, first time poster. Hope everyone is good! I've just had my letter through from my mortgage lender confirming that I've now repaid it in full. So happy it's finally done - inspired by this thread; I decided about 6 years ago to focus on paying it off as I wanted to change career which would mean a…
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Buying new house roof’s leaking and need new roof
Hello everyone, I am planing to buy a house and the offer has been accepted. Bank did valuation survey and said roof need replacing and also house have dampness on one of the external wall. How can we solve this issue.? I don’t have enough cash to get the roof replaced once I get the keys. House itself from internal need…
