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Mortgage free by 2028
I have been lurking on this forum for a while now and since I have just remortgaged, I have decided that I will start a mortgage free diary. We have been overpaying here and there for a while, helped by being blessed with decent mortgage rates for the last 12 years or so. Ever since we got a mortgage 14 years ago, we have…
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MFW_by_50's diary - here I come, 2029!
Hello! I’ve been a long time reader of MFW, and have meant to start my own diary for ages. I turned 40 a couple of weeks ago and am determined to be mortgage-free before I am 50, so this diary will help me keep on track, hopefully! I have 83K left to pay, and, all being well, I have a plan to pay it off in 9 years,…
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Interest Only Mortgage Query
I have an interest-only mortgage with 8 years left to clear. The balance at the moment is £126,000. My mortgage is currently £257.00 a month. I have two options: (a) Would it be better to overpay each month (I am not sure if one can overpay an interest-only mortgage, and does this reduce the interest or the capital), or…
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Mort's mortgage muzzling mission
The Mortgage. Mortgage balance £21,230, approximately 12 years to run on a repayment basis. About us. I am 53 and in full time work, Mrs. Mort is younger and has been out of work for a long time because of depression. My job is currently steady but in about 18 months when a current project is set to deliver I may possibly…
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Hazelnutty's New Start
Hi everyone :wave: I've been an MSEr for many years although on and off the forums (I was a total addict of the families board when I was expecting DD) A lot's changed in my life in the last 18 months and it's a new start in many ways so I thought I'd come back and start a diary to help me get me on course. I could do with…
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Half a House
Hello! I realised I hadn’t posted on my old thread for almost a year, so thought it best to start a new one, as things have moved on a bit since I started the old thread. Our situation: we bought a shared ownership house 3 years ago, buying 50% of the property and renting the other half. We were debating whether it was…
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2020 vision. VoucherMan's MFW diary
I only recently came across this forum, probably less than a week ago, but in that short space of time you've convinced me that I should be a MFW. Thanks. I've been making occasional overpayments since base rates dropped to their current levels (couple of years ?). I never discussed with the bank how this would effect the…
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The easiest way to overpay. Am sure lots do this already.
Current situation. Married, 4 small kids 9,8,6,2. Age 37 101k approx on mortgage. Just remortgaged at a rate of 1.64% for 5 years so plan to over pay as much as poss while this rate is so low. I always overpay the mortgage by a little without noticing. Rather like those round up apps for saving I do it for mortgage…
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One Year Count Down
So this is the second time on this forum, we had great delight in finding our original log-in from 2014 (although cannot for the life of me remember the e-mail address and password to access). It stated we would be mortgage free in Jan 2020...we aren't but have made significant progress :) A little background, been in the…
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Davilown and family's attempt at being MF!
Well, having had a LBM in 2007, paid off in 2010, became deposit savings the following month, then finally purchasing our own place this month, we have now to become MFW. £224,995 outstanding, with an aim to over pay £300 pm and an additional lump sum payment in Oct 2020 - This will, if we're lucky, allow us to pay the…
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Should I pay off my mortgage or not?
I have an offset mortgage which was an excellent decision for me & I am now in the position where I could pay it off completely (ie I have more "saved" than "owed") but on the other hand I currently pay £0 interest so could just keep paying off something like £50/month from the capital for a few more years & still have…
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What is the best gaming mouse right now?
Recently, I was searching for a mouse for my cousin. He usually likes to play games, and tends to have better performance and a light gaming mouse. Can you recommend it?
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Over paying on 2 mortgages?
Hi, Looking for a bit of advice. I have 2 mortgages. 1 for my home and the other for my parents home. Both mortgages were recently renewed and both are around the £120k mark. I would like to overpay £200 per month, should I split this and ovepay £100 to each mortgage or is it better to focus on just the 1 mortgage? Thanks…
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13 coronacoaster weeks to Christmas
Hi. I used to frequent the forum several years ago and managed to escape credit card debt mostly by doing debt free challenges and reading debt diaries. Things have changed a lot since then, in good and bad ways. I am now debt-free, except for my mortgage BUT I became a single parent since then :cry: I'm finding the 2020…
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Kimplus8 MFW I will own my own home diary
As the title says, I am saving every last penny, the hardest part for me is having a no spend month, I always crack and buy something unnecessary and then I am furious at myself afterwards. The last 2 months I have managed a No Spend month and I have managed to sell a bunch of stuff too to buy the kids the new school shoes…
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Weekly vs Monthly Mortgage Payments
Hello, My mother has a Halifax interest-only retirement mortgage. While reviewing it with her, I noted that the interest is calculated daily. I was wondering if there would be any benefit if she changed her standing order to make weekly payments, the shortest payment frequency permitted, which would equal her current…
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skipping a mortgage and buying outright
I am 40 years of age with around 30k savings. I want to save another 80k, giving me a total of 110k. The plan is to buy a derelict property for cash and renovate it myself over the next 10 years or so (I will live in a caravan on site while I do the work myself). I am unable to get a mortgage on such a property, so the…
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Shared ownership
Hi everyone, we have just bought our first home 🎉 finally! We have bought via shared ownership and have a mortgage of £49k. We have taken to mortgage over 35years to give us the flexibility to over pay most of the year but have reduced payments around Christmas and also enable us to pay the lower amount in a few years when…
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Race against time to become mortgage free
My consent to let my primary residence is running out by April with 0% chance to extend. I am having issues getting a BTL because of a confusing tax residency status which is stopping me from getting an expat mortgage and likely will prevent me getting a UK mortgage. i am trying to get creative to clear the final part…
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Race against time to become mortgage free
My consent to let my primary residence is running out by April with 0% chance to extend. I am having issues getting a BTL because of a confusing tax residency status which is stopping me from getting an expat mortgage and likely will prevent me getting a UK mortgage. i am trying to get creative to clear the final part…
