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Mortgage-free wannabe

On your journey to becoming mortgage-free? Share your goals and support others looking to pay off their mortgage here.

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
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…
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…
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…
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?
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…
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
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…
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…
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…
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
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…
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…
Joint mortgages and guarantors
Edit: Just realised I posted this in the wrong place. Apologies. If an admin could please delete this I'd appreciate it.
31yo with mortgage and savings. Is there a better way of doing this?
Hello, I'm currently on a tracker with nationwide 1.39% I expect to be happy living in my home for atleast the next 3 years possibly longer. I think interest rates can and will go up very soon. So I'm looking to fix I currently have 110k remaining on my mortgage 24.9 years remain paying 450pm. I've never over paid😬due to…
Do we pay off our mortgage or draw down cash and put into my AVC towards my pension??
First post..looking for some advice please We have overpaid our mortgage over the years and we now have a very small amount left to pay - around £1000, which will be paid within the next couple of months although the mortgage term is not due to end until in August 2023. We wondered if we should draw down some money from…
Online Portals for checking account
Hello, My mortgage is due for renewal and rates are comparable against lenders. What would really help me going forward would be any lenders which have an online portal to allow me to regularly check balance and received overpayments, etc. Does anyone know of any lenders which provide this service? Trying to get through to…
9-6 next year.
Mortgage free date is almost on the horizon. 35.25k over 13 yrs. Have ramped up repayments to set from Sept 100 pounds overpayment from standard 250 per month 1.74% 2 yr fix. Early into 2022 I am to increase further to 200 pounds overpayment 450 per month. Which means reducing new term from 9 years to just over 6 years. I…
Mortgage Letters - Paperless
Hello, Often my post gets mixed up with another street around the corner, which has a very similar street name. Unfortunately is human error by the various postman. We often take the post around to the correct house, but rarely get any back. All my banking is paperless however my mortgage letters are not - do you know if…
Help finding my balance
Hi All I enjoy coming on here to read inspiring stories and would love to be mortgage free. I am struggling to find a right balance and not be too obsessive about saving every penny and try to enjoy life as well as plan for the future. I have got to what feels like a junction at my life and I am not sure how I should…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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Mortgage-free wannabe

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