-
Barny's Mortgage-busting thread!
Right, on Friday I complete on a property, the mortgage will be £180,900.00 for 25 years. I am 40 in July and aiming to be Mortgage Free by 55.
-
Keep calm and carry on....
Good afternoon all I have lurked for years and love reading all of your stories, but keep finding myself getting grumpy when you're not updating your diaries at the same time as I am available to read them (I tend to do a mega catch-up in bed on a Saturday morning, then you're all off being busy in real life); so thought…
-
1 brick at a time
As its a new decade I thought I would start a new diary. I have been on the forum for years but never created a diary or made a single overpayment (which I massively regret!!! :mad:) until July last year before a remortgage which really helped me focus. I remortgaged for 160, 242 in August to a 10 year fixed rate of 2.64%…
-
Cheery's country living adventure
Hello lovely people :hello: I'm Cheery, been around these parts a long time now and had several DFW diaries over the years, most recently here. We are two - Mr Cheery and I. We've been together over 12 years now, and last week we moved from the middle of the city to the middle of nowhere. We were snowed in within 24 hours…
-
Getting a Mortgage 🏡 in my name and saving to pay it off early 💰
Hello, I’ve been off these boards for over a year. Time to get back on it. To give you some background to my current situation. It’s going to be a long post! 2013 my ex and I bought a house together. March 2019 my ex and I separated and was divorced in Jan 2020. I wanted to keep the house and it was agreed in the divorce…
-
Peering over the hill...
Hello, I’ve been wanting to start a diary for a while now, but it’s never as easy as it seems is it? I suppose I’d better start in the usual place – a bit about me, a why and take it from there. I’m in my early fifties married to a lovely wife, own just over half the house and am starting to peer over the hill to…
-
Mortgage Free by 2026 - I hope!
Having been blissfully debt-free all my life, I'm about to take on a mortgage at the grand old age of 34 - and I want to be rid of if as soon as possible. So welcome to my challenge! My long term goal is to pay off the mortgage entirely by January 6th, 2026. Ten years seems far longer than necessary, but I know that there…
-
From apartment living to buying my forever home
I've been pondering starting a diary either here or in Deft Free Wannabe for a few months but I don't really quite fit into either circumstance atm. I'm actually starting this journey to home ownership from the position of being Mortgage Free on my flat thanks to a very generous inheritance. And, as a result of that…
-
Transfer mortgage to 0% credit card??
All the advice I've read has warned against using a credit card to pay your mortgage but I have really low monthly payments and only 16 months left to pay of mortgage (£4200). Deal has run out so I'm on the standard rate 4.49%. In order to get a new deal with current provider (Accord) I would need to extend mortgage term…
-
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…
-
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…
-
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…
-
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
-
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…
-
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 :)
-
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…
-
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…
