Mortgage-free wannabe

 Happy New Year!!! As our MFW journey finished back in July 2015(wow!) on our family home and Apr 202 on our BTL (because we sold it! :D ) I thought it was time for a new diary (seeing as some others are doing it, I thought I'd also jump on the bandwagon 😉 🚙) and the new year seems a good time to start. Back when I started…

Traditionally I would post in purple, but times change and on my mobile. I was torn between DFW and MFW but I feel like this is my spiritual home! I haven't been around for years and in that time we've moved to a smallholding. DD1 now at uni, DD2 doing GCSEs and DS1 starting secondary in September. We have a whacking 270k…

Good morning diary and all, I recently became debt free after 31 months of debtbusting over on Debt Free Wannabe, following the advice and diaries on this site. Here is my previous diary My debt free diary I have found keeping a diary really helpful in staying focused and also therapeutic being able to think things through…

:wave: I’ve been lurking around these parts for a good while now with occasional posts here and there. However, after reaching what I consider to be a milestone with my mortgage (will come back to that shortly), I felt the time was right to start my own diary. I figured if I don’t now, I may never do so! It was after…

Afternoon all! To keep it short because you probably heard this many times before. End of January next year my fixed term is finishing,at the moment is fixed at 1.49%. I will have roughly £70K left on my mortgage.Should I pay it off in January or is it not a good idea? I looked around and my new rates will be around 4.6-7…

OH and I are in a position where we will be able to repay the mortgage on our own home either at the end of this year or in Jan 2023 thanks to an insurance claim we have been waiting to pay out for several months. However we also have 3 BTL mortgages which need to be cleared and our big dream is to clear them all before my…

Hello! Trying to keep motivation so decided to stop lurking in the shadows and start my own thread. Family of 4 (2 adults and 2 children) with a very large mortgage of now £470k over with just over 23 years left. 1.5 years into a 5 year fix (thankfully a cheap one). OH and I are fortunate to have well paying jobs but…

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…

Hello all! :) I am returning to the forum in an attempt to gain your collective wisdom in sorting out our dire finances. I've been experiencing a series of mini lightbulb moments of late and have realised that it's time for a change. Despite being vaguely savvy as regards areas of personal finance such as pensions, I have…

Hi, it’s been ages since I posted and I was very lucky to pay off my mortgage before covid. my house was 25 years old and needed a lot spending on it to make it energy efficient and modernise it so we decided to move instead as we just couldn’t change certain things we didn’t like) Unfortunately this meant getting a…

Hello, I've been registered on the forum a while and posted a bit, but have struggled to keep up with it. However, I've joined the MFW 25 challenge and maybe starting a diary will help keep me accountable so here goes: Situation My mortgage is currently £114, 762 and I pay £531.50 a month. I am a solo homeowner working 40…

Welcome to the new Mortgage Free Wannabe board. After watching the popularity of the Debt-Free Wannabe board which focuses on mutual support for people who want to get rid of their debts, I thought it would be fun to try the same with mortgages. It isn't about mortgages themselves, for that go to the mortgage board. Why?…

I know everyone will tell me that a 4% interest rate mortgage I should probably be investing in a global index fund instead as the % return on that is likely to be greater than the 4% interest rate. But for me personally I suffer from quite bad anxiety regarding having a mortgage. The constant dark cloud hanging over me of…

Well today is a pretty momentous day in our life's, after a few years of scrapping together a deposit we have been able to get our foot on the property ladder! Today we got a call at 10am to collect the keys after our offer was accepted back in late February! A little bit about us! We live on the south coast, I am 38 years…

We should be finished with our mortgage in about 9 months, friends have said that we should leave a small amount because then the deeds stay in the bank and are safe. If we pay of the mortgage we should never keep them in the house (in case the house burns down) and then we would have to pay the bank to keep them safe. I…

Starting this to keep myself honest and on track. This is the year, well the first one of a few. I've always had the annual mortgage statement come in and put it away, little to no attention paid to it but not this time. If this was a credit card with this much interest per month I would be putting every spare penny…

I am in the fortunate position of being able to pay off the remainder of my mortgage when it comes out of its fixed period in Mid August. Is there anything I need to be aware of when doing this and how exactly do I do it. Do I just ring the bank and say I want to pay it off and transfer them the money or do I need to go…

Hi, Is anyone with Monmouthshire Building Society and has ever tried to make an overpayment? I’m 28yrs old with a 28yr term mortgage and I’m aiming for mortgage settled by 50. I’ve calculated and need roughly £250pm overpayment. I find this wording very confusing, it says you can’t overpay then proceeds to say you can up…

Hello all SLLM - single ladies with large mortgages or single ladies who have previously had large mortgages or single laddies in the process of getting a large mortgage! So if you are a lady and own your own house then yes this is for you. Yes I could not resist it any longer. Ladies large mortgage is a loose term so if…

I currently have 2 separate mortgage accounts on the same property, one is owing £82000 and the other is £50000. They are both with the same company and I make 1 monthly payment. My question would be if I was to overpay would I be best to pay off the lower or higher amount or split equally between the 2?