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Anyone good at maths? Overpaying my half of the mortgage (while partner doesn't do extra on his)
Hi everyone I am hoping that there is someone here who is much better at maths than I am. I want to overpay on our mortgage, my partner doesn't. We have paid half the mortgage each each month for the last 10 years. He is happy me overpaying to get my half paid for early. But we are stuck on the calculations of this,…
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Aiming for Mortgage Free!
Hi All, I've been a lurker here for a few months, but having read some of your diaries (losing many hours!) I've decided to bite the bullet and post my own. Situation Family consists of my Husband and I and a couple of gorgeous kitties. We bought our first place in July 2018, in London so prices are high and the mortgage…
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This is it! 2027 is the goal...update
Hello I have been lurking around these boards for the past year, I have finally made the decision to start a diary to track the progress of my goal. I'm hoping that it will hold me accountable and perhaps inspire others along the way. As of May 2019 my mortgage balance was £118, 842 4 years into a 10 year fix over a 20…
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Santander Follow On Rate?
My fixed term with Santander finishes on the 2nd September, would I be right in saying that once the mortgage goes onto their follow on rate, that I can pay off the mortgage in one final payment and apart from transaction fees, there will be no early repayment charges? Is there anything I should be aware of, if I am right…
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Mortgage free but when?? and against odds.
Two years ago tomorrow, i moved into a final home. I am 42 years old . i am more looking forward and like many people circumstance and our own behaviour made mistakes money wise but look forward. In September 2015 I had couple of strokes. I was fit and healthy and done triathlon a couple of weeks earlier. I was driving in…
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360 Months to go?
Hi all, I’m a bit of a lurker here, so thought I’d start a diary. We moved in late May, having sold our first home, and bought our “forever home”. We’ve taken a 30 year mortgage, but the goal is to pay if off in 22 years, before we’re 50, with a view to retiring early at 60 (in 2052!). Borrowed 95% on a 5 year fix. To…
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The 4 year rule
Hi I am so desperate to try and beat the system and get away with a small eco dwelling in some woodland and claim the four year rule. Has anyone got any info regarding how to get away with this and prove you’ve been living there and how long for and how to not get caught! Is it possible to still claim the 4 year rule if…
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A new royal start
I mmmed and ahhhed about whether to start a diary on here or not. However, my head hurts with all my internal planning, so I thought I'd give it a go! I cannot promise excitement though! So here goes... we bought our house almost 6 years ago now and stretched ourselves quite a bit to get it (in the expensive South). I…
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lump sum - pay off remainder mortgage or save for rainy day as economy currently very wet?
I have just got a lump sum payment for £35k, almost exactly the remaining sum of my mortgage. I am 52 and work in very volatile industry (arts). I have had good 3 or 4 years (until corona) recently - though this has not at all always been the case - and have managed to pay off all my outstanding debts apart from my…
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Should I stay or should I go?
Hello, I’d love some help making a decision about my home life. I’m a single person (aged 38) who currently owns a four bed house with two lodgers. I bought the house cheap and renovated it and have ended up with more debt than I had planned (mortgage, bank loan, credit cards and borrowing from friends) The house isn’t…
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3 years debt free - is it possible?
I've drawn up this scheme in my head but I feel like I'm missing something Currently me and my partner earn 95,000 after tax between us We keep 800 each in our current accounts and put 1000 on a joint card between us for household bills / supplies 5,000 then goes into savings I also do some work on the side which nets me…
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Property in Trust
Hi could anyone give some advice please, my sisters partner , was left a property which has no mortgage on which he rents to his daughter and her partner below market rate. As the property is quite small they would like to extend. He is going to leave the property to his daughter when he dies. He wanted to know if the…
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Pay off full mortgage
Say you had a mortgage of £100,000 and you were paying it as normal.Then you won £250,000 on a scratch card.it would make sense to stop paying mortgage and just buy it all with a lump sum payment.but is this possible? If yes what is the name given to such a event, are their hefty fees etc... Another question on similars…
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Will we have problems remortgageing if I loose a bit of salary?
Hi all. My partners income will be staying the same (21k per year) mine is (27k per year) Mine and my partners mortgage renews in April, and my current job is becoming unbearable, with the amount of hours I have to do, so I am considering becoming self employed earning the same amount of money but less hours. When coming…
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Advice please
Hi 👋 all, Have just taken out a mortgage on a £300,000 property which consists of £23,000 deposit £60,000 help to buy leaving £217000 mortgage. I’m on a 5 year fix with Barclays @ 1.8% . Would it be better to overpay in the mortgage given the low interest rate or concentrate on saving as much on the help to buy to pay off…
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Redemption
I'm coming to the end of my Halifax mortgage. Yippee. Is it best to request a redemption figure or should i pay off the mortgage leaving an amount much less than the last normal mortgage payment plus expected inerest and let them work any overpayment
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Clearing 241k in 5031 days - let's go!
Finally decided to join the mortgage slayers :) been here for ages and love reading everyone's diaries The challenge - 241k in just over 5000 days :# The mortgage was originally due to be finished 28/05/2034 but between the period 2010-2014 we ended up on interest only due to redundancies so the end date is now sometime in…
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FtbDreaming wants to clear £69,700 before Im 40 (2027)
Hello!!! Well I joined MSE in 2016 in the DFW forums and I’ve finally progressed through to my ultimate goal as a Mortgage Free Wannabe! My house purchase has gone through today and the £69,700 is showing up in my online banking so a good motivation to get it paid off. Ive bought the house I currently live in from the…
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Humour me, interested in peoples opinions.
Hello everyone. We have been mortgage free less than a year and are looking to move. We live in an area where housing is cheap and want to move to an area where it is more expensive. We had come to accept that we would need to buy something smaller than our current home but have looked at houses in our price range for the…
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Soon to divorce and need to save 60,000 over 5 yrs
help I need to save 60k over next 5yrs to pay off a mortgage. 2 kids under 16yrs. Is there any advice apart from being careful.
