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A little bit of me time!
A little bit of me time is what I have been craving for many years. Things have got hectic lately and decision has been made to reduce my working week to a 4 day week. This won't be imminent as this needs to be covered but even making the decision and talking to managers has release the work stress some what. Hence the…
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Dipping my orange toes into the water..
Where to begin.. I have loved reading other people's mfw diaries and been so inspired so thank you for sharing your journeys and your advice. My DH and I and our two children live in the insanely expensive South East, so we have a beast of a mortgage despite our modest home. 329,999 to be precise. Our house is roughly…
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Mortgage free or bigger house? I'm unsure what to do....
I'm coming to a bit of a crossroad in life and it would be great to get other thoughts on this. I'll try to be concise. * Myself and husband (35 and 37) have a joint salary of £128k * Two children, boy and girl, 5 and 7. * Live in a 2 bedroom mid-terraced house in East London. * House valued around £360k, £168k left on the…
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Forging our forever home and aspiring to mortgage freedom
Its a new year and my life and goals have changed a bit since my last diary. I want to start afresh, post regularly and read other diaries again. About me I'm in my early thirties, I've been with my other half for 10 yearsish....I think...we lose track, and married for about half that time too :) . We live in the pricey…
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Quest for (mortgage) freedom
I'm a long-time reader of this forum, I find other peoples MFW diaries really interesting and inspiring. Now it's time to do a MFW diary of my own and hold myself to account. OH and I bought a house in February 2019. We've spent around a year making cosmetic improvements (lick of paint, new carpets etc) as well as some…
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The Mortgage Free in Three - Take 6 challenge (MFiT-T6)
A three-year challenge for all of those who are want to pay down their mortgage (or save for house-related expenses) over a longer time period than MFW. First of all, a huge thank you to trix-a-belle who ran the previous two iterations of this challenge, inspiring many of us to stay on track (and becoming mortgage-free…
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My Mortgage Free Diary
Hi all, After lurking here for 3 months, decided to finally sign up and start my diary. My wife and I bought a 3 bed maisonette (1st and 2nd Floor) in August 2008 for 168,000, with a 5% deposit, with Directline 30yr mortgage, 2yrs fixed at 6.89% (ouch!), and since August 2010 we are on the SVR, currently 1.5% above base…
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Plan for a Sea View - Take 3
This is my third attempt at a diary as I am rubbish at keeping them up to date. I promise to try harder as I need something to keep me going as the mortgage pay off journey seems to take an age. Its also not something I like to discuss with people in the real world as we are in a very fortunate position that we are looking…
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Mortgage free mayhem
Hi everyone! Really excited to track my mortgage-free journey at 52. Before becoming a uni lecturer this year, I've worked in charities my whole life. I've got a pension of £60K, an easy-access savings pot of £3000, and a mortgage of £84206. I want to see how quickly I can pay off the mortgage with my new higher income.…
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The Long and Winding Road
This seems like an appropriate thread title given the very long path we have to walk to get even close to mortgage free, but we're certainly thinking about it and have been taking note of small milestones already. Hopefully this thread will see our walk turn into a canter. Except with one significant and self inflicted…
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Starting Over Again - Let's crack on and halve this term
Hello Mortgage-Free Wannabees Starting my own thread as over the years I have been so inspired by so many of you on here and thought now was the right time to get in on the overpaying action. A little about me, I'm 50 years old and live with my husband and our 7 year old daughter. I have three older children, one who is at…
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DrCarrie's adventures in saving to be a mortgage-free wannabe
Hello, all new friends and old? I am here for a new adventure, and to document my adventures. To notice new obstacles and turn them into paths. I have never been a saver. I am 50 and have never been a saver. I have been a spender. I have cleared my debts 3 times and spent significant windfalls. I have had 2 mortgages and…
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Mortgage Free: The final countdown
Hello - Just signed up to Julicorn's MFW OP thread, but I felt I wanted to create a diary for this aspect of my financial life. Sorry for the thread title - @FootyFanDan and I were having some music banter over at the DFW diary's and I just thought it was a great idea for a thread title (pun included) Situation: As of the…
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Overpaying mortgage payments
We are considering overpaying on our mortgage with the hope of being mortgage free sooner. Either a lump sum or regular overpayments. Current mortgage balance £126,495 This is made up of: £31,087 (Interest only) £95,4708 (Capital and Interest) Remaining Term = 15 years (currently fixed rate to Nov 2027) - intend to reduce…
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Mortgage Free by 50
Hi. Been lurking here for over a decade, and thought I'd finally register, participate in the community and set up my mortgage-free wannabe diary after reading through many others over the years. Age: 33 Married. 1 child aged 2. Outer London Purchased house for £300k in 2019. Current mortgage balance: £223k. Current house…
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Twinklies mortgage journey 2.0
New Beginnings So today is the start of our remortgage and as such I thought it would be nice to start a shiny new diary. Hopefully I can be reflective of the journey so far and make some new and focused goals. Just to bring anyone who doesn't know me up to speed. I am married, 2 kids, a dog, a house and an allotment.…
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Single gal balancing my way to mortgage freedom!
I've lurked on these boards for a while, but have not really been an active participant before. That is about to change! Four years ago I bought a property with one of my best friends. It's been a great few years and we both benefited from the stability of getting on the ladder rather than renting. Now I shall be…
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10k Overpay Mortgage or Save (to overpay at later date)
Hi I have been gifted 10k. I want to use it for my mortgage, but am not sure if it is worth saving it given savings rates v or overpay on the mortgage now. I appreciate there is a calculator ( Mortgage Overpayment Calculator: Pay off your debt early? ), but I believe that is if the saving rate remains at that rate for…
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***UPDATE! WE'RE FREE*** Drip Feeding update - Final countdown
Hi Everyone, I just popped back in because I remembered I started a MFW journal on here ages ago and I wanted to see what I was planning etc. I felt like I wasn't making much progress and it wasn't really flashy enough to keep updating it so I stopped posting but over the years we've kept drip feeding our mortgage and as…
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IO mortgage - Invest the difference
Should I switch to Interest Only mortgage and invest the extra cash in savings/investments. I'm sure this has probably been asked and covered in here before, but here goes... I need to remortgage as my current 5yr fix ends in 01/2025. Mortgage is approx 1.6% on £175,000 - 18 years remaining term - House value is £345k I'm…