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Purchase on first home completed - Time to start making a dent in the mortgage!
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…
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what to do with deeds?
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…
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I'm paying how much interest a year??!!
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…
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Paying off Mortgage - How do I do it.
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…
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Monmouthshire BS overpayment
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…
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SLLM (Single Lady Large Mortgage)
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…
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Halving our income and still aiming for mortgage free!
Hi everyone, A long time lurker of DFW forum, and then here. Finally starting my own diary as I feel it will help keep me on track! As the title suggests we are halving our income as I have resigned my job in order to keep sane and support DD with home educating for the next year. The last two years we have managed to…
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2 mortgages which one to over pay?
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?
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Plan 55
Howdy all! We've recently moved to our forever home and we are determined to be mortgage free by my 55th birthday (September 2033). We've got a fair bit to play with monthly and will be adopting overpayments and maybe savings accounts? We're using all of the cashback and survey sites going! :) I am loving reading…
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Over-payment or ISA?
I don't fully understand how the interest works in mortgages but right now my wife and I overpay our mortgage each month as much as possible. We know that no matter how much extra we pay in, we won't be penalised when our fixed rate runs out in 2029. However, I'm wondering if we should put all the extra payments into an…
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Future Proofing my life: Deposit saving then MFW journey in under 13 years
I have been reading lots of these MFW diaries over the last few weeks, some 300 odd pages long and tracking a decade or more of life. They have been fascinating, very inspirational and given me some great ideas. I am looking to buy within the next year, and then get MFW and o/p as soon as I can. My savings rate, income…
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Forever home... not a forever mortgage
Hello all, I’ve posted here on an old diary before, but with a completely fresh start comes a completely fresh diary! Plus I fell foul of the new forum changes having not logged in for many years ;) We’ve recently (late Jan) moved into our wonderful forever home! I love it so much already. Can’t wait for the weather to…
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Life after Mortgage (before the Next One!)
I have been a long time reliant on these threads and at times considered starting my own but bottled it...now I am just going to go for it! It seems like a strange time to be starting a thread as a 'mortgage-free wannabe', but I can't imagine being off this group! It's been such a lifeline to be with like-minded people.…
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I wanna be mortgage freeeee!
Hi folks I’m a long time lurker coming out of the shadows as our circumstances now mean that we have a real shot of getting rid of the mortgage early. Me and my husband were both made redundant in January. I found a job straight away and my husband has found one and starts early May. We got a pot of money from redundancy…
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I Want To Be Free!!
Good morning a little diary here to hold myself to account as we embark on a journey to savings and mortgage freedom. This is a 3yr plan for reasons that will become clearer :) So the biggie the mortgage.. We recently did the complete opposite when we remortgaged and borrowed an extra 7k and extended the term by another…
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Mortgage Calculator
I’m a little confused so some clarity will be very helpful. When I use the Mortgage Overpayment Calculator and I enter an extra regular monthly amount that I wish to pay, it calculates it giving me amount saved on interest and also years saved. But my question is, as the amount of the mortgage owed goes down, will I still…
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CrazyBee wants to be Mortgage Free!
This diary is going to be my typed up journey to mortgage
freedom. I begin a new job in the New Year and the mortgage roughly equates to
46K. I have projects that need doing around the flat such as flooring and
kitchen, I will be earning £1950 after tax per month roughly speaking and I
also will need a car fund soon.…
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65k in 65m
Hi! So, I've been reading this forum for a while now but I've only just decided to make my own diary. I have an obsession, which probably teeters on the edge of being unhealthy, with becoming mortgage free, ever since I realised I would have to borrow to own my own home. As I don't really have anyone that I can talk to…
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Onwards to freedom!
Hello and welcome to my MFW diary. Not sure how often I'll update as I'm going down the boring 'increase monthly mortgage direct debit' route, not the more interesting to read 'random repayment as and when a bit of extra money is made' route. Still, no harm in starting a diary here, even if it's just for me to look back on…
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The "Mortgage-free in 2025-30" club!
Welcome to the thread for all those MFW's aiming to get MF during 2025-30. Come and chat to people working over the same timeframe as you, and then join the party in 2030 when we're all mortgage-free! :D If you'd like to be added to the members' list below, just post your details and I'll add you. Prod me if I don't - it's…
