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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…
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Tiny House Living 21st Century
Never done this before but hoping I may get some help! So my partner and I want to buy some land, nothing drastic, and we have the means to buy a completely eco friendly tiny house. I’m talking rain water filtration system, solar panels, home biogas system and compost toilet. Veg patch on the land and a 2 bedroom tiny…
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Snowball calculator says 5 years... will I do it?
Hi all, I have decided to start this diary in order to focus my mind and basically put in writing what my plans are. I have a couple of different debts and my aim is to knock them all down and be mortgage free by the time I am 45....I'd love to do it by 40, but I think 3 years is a push. I have 2 mortgages, £55000 on a…
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Halifax mortgage offer
Hi I received my mortgage offer today stating special conditions as “You have declared an intention to pay some or all of your outstanding credit commitments. The mortgage advance has been assessed on this basis and it is your responsibility to ensure that these commitments are repaid. Completion takes place on the…
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Let’s get this Monkey off my back
Hi guys , newish to the board although I’ve been a lurker for many years - sorry. Anyhow I want to clear my mortgage debt as soon as I can , I’m pretty clear on my goals but was wondering if I’m missing anything that you guys can help me out on . I’ve no personal debt or car finance so any spare cash can be ploughed into…
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Six month target
I realised that with being careful to stay within budget, I might be able to achieve a significant mortgage milestone by the end of the year and thought I would give a MFW diary a go. I've deducted all mortgage and bill payments from my income and used the MSE budget planner to consider and put aside money for all the…
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Short or Long term fixed interest term (porting costs)
Hi all, So just to say, I have some time until I need to change my mortgage, and with rates where they are, I'm starting to think of fixing in for a longer term - potentially 5+ years rather than my current 2 year term. What I am struggling with, is trying to forecast any porting costs in the future should I decide to move…
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Mortgage overpayment calculator
Hi, we are come into a chunk of money and want to pay off our mortgage. However, we are just about to enter the 2nd year of a 5 year fixed rate mortgage (1.57%) so I'm trying to work out if we would save more in interest by paying it off in one lump and taking a 5% ERC hit or whether to pay a lump sum of 10% (free of ERC)…
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My Journey to an exciting future!
Good Evening All, I have been an avid reader of this forum for sometime however have always stopped short of creating my very own thread. I find so many of the stories inspiring! A little context about me. I am a mid 30's man who is married to his childhood sweetheart, we have a 4 year old daughter and there are…
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Does an over payment benefit me?
Hello, Agreements with my current lender to borrow more have broken down and I may need to look at other lenders I have the cash to make a 10% over payment now, does it make sense to do that, will I then pay 10% less early repayment charge if I was to move lenders in 2 months time?
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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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Overpaying Mortgage or save for a lump sum?
Hi all, We have money in Premium Bonds and have been told the rate is being slashed. We recently bought a house and have a mortgage for 192k on a 2 year fixed rate and we can pay off 10% each year. In my mortgage contract it says 'The overpayment will reduce the balance of the account and the interest due will be…
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Future Me & the Rabbit Hutch House
So having lurked on MSE forum for a couple of years I am finally mustering the courage to start a diary to keep myself on the straight and narrow and to try and make proper inroads into 'becoming a grown up'. I've read through many of your diaries and have taken inspiration and learnings from all of them so let me start…
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Mortgage repaid, excellent credit score but unable to get a loan
I have repaid my mortgage, have an excellent credit history and score but am unable to get a car loan Any advice or ideas welcome
