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Time to start my race to zero
I've found myself at home, with far too much time available to stew and panic about everything, so I thought I'd tackle that subject I've shoved to the side for quite a while now - the race to get my mortgage balance down to zero. In terms of background, I spent most of my youth from 16 onwards trying to save up and shovel…
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Paying down the mortgage
I am trying to get back into the swing of noting any overpayments to the mortgage after we remortgaged this month. I have consistently overpayed the mortgage, a set amount of £105 a month for a while as standard. This time, we remortgaged to 22years, after extending to 30years, to make the mortgage more affordable due to…
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My Five Year Focused, Frugal and Fun Challenge
Hello all :) it has been a long time since I posted on here and a lot has changed. I'm now single and bought my new home last year. It needs a lot of work but after the next couple of jobs are done I’m having a break from doing anything else so I can focus on paying the mortgage off. I wouldn’t book any of the people again…
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Pay off mortgage or save
Hi Currently have 21, 000 left of mortgage to pay at 3.44% this interest rate ends oct 2027 and the remaining term is 3 years 4 months. We pay £576 a month and have been paying over payments too, We have a fixed isa that finishes next month and will cover that amount with a little change, is this the best thing to do??? We…
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I can't say this in real life...
Because few have this privilege... I couldn't even say this to my best of friends. Or even my Mum! But I paid off my mortgage yesterday after ten years aged 43, just me. It's "only" a 2 bed flat, but it's mine. I rented out the master bedroom / ensuite available to a lodger all this time (bar a break for the pandemic), and…
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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…
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Mortgage - Pay off or wait? Invest?
Hi all, New here, so please be kind! I'm useless with money and savings and looking around has my mind very confused to say the least. So many factors around ISA, Savings, Interest, Tax etc etc. So I'm playing dumb and hoping for some very simple answers. Long story short; My wife was diagnosed with cancer over 6 years…
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Mortgage overpayment
Hi all Can you makes sense of this for me coz numbers and I don’t go together. 😂 We are due to remortgage end of December. We will owe £290k. We have £50k savings so are going to pay that off so we need to now borrow £240k. I’ve been on a mortgage calculator and I can’t understand Why in 5 years time the balance we will…
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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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Countdown to Freedom
A new diary as we enter the last two months of 2011. I have been lurking for almost a year and have found so many of you inspirational, particularly Billy, Michelle, Radish, and Museum Worker. A bit of background I am married to a great man, two kids who are growing up too quickly, two cats and a dog! Never a dull moment…
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Mortgage free wannabe - haven't bought our house yet!
We have owned houses before but moved location and are currently renting. We have had an offer accepted on a property and I'm trying to decide on a mortgage term that will help us in our quest to be mortgage free (ideally before my oldest child starts university in 9 years time). We are borrowing quite a bit less than the…
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Aiming to be mortgage free before I am 62!
It feels very bizarre to be starting a mortgage free wannabe diary! I (and we when I was part of a we!) have always been a bit of a on off rollercoaster between paying off debt and creating more debt! I can’t really put much of a potted history of my finances together as I don’t really know how things built so much or how…
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A Better View 🌄
Hello Forumites 😊 here I am again with a new diary for the new chapter we're embarking upon. For those who haven't met me before, here's a quick summary of our journey so far: * I joined the forum 11 years ago. Mr F and I had bought our first house together 9 years earlier and life was very full on. We decided to pay off…
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I'll health and perspectives
Hi all I've wanted to pay off the house for a long time and we have been working towards paying odd our credit cards which will be done by September October time. After that we did have plan to go on a city break which I think still is the plan.. In the last week I gave had a heart attack and it's really put things in…
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MFW: Next step towards total freedom!
I've been a long time lurker and finally decided to start my own diary. My current repayment mortgage of £106,895 was taken out in December 2010 over 25 years at 3.54% (2 year tracker). [EDIT/SPOILER ALERT: This later grew to £169,000 in December 2012 with a new 25 year term due to unexpectedly moving house!]. I became…
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Pay off mortgage now or wait??
Hi all Due to an inheritance we are in a position where we could pay off our mortgage and I am looking for advice and thoughts as to whether we should do that or wait until our fixed term ends. I will try to provide as much information as I can: Amount outstanding on Mortgage - £73,912.01 (approx £640/month) Rate - 3.5%…
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Overpay or Save
Afternoon all. I am looking for some mortgage advice. We moved into a new property end of last year and have been funneling extra money into it since and have so far managed to pay 14% of the overall debt. We are paying double the required monthly fee. My question is, is this the best option for our money. Our remaining…
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Beware Mickey Mouse Mortgages from Lloyds Bank
Anyone trying to overpay a mortgage from Lloyds Bank should check every mortgage payment from day one carefully. We have had a roller coaster ride, including our mortgage term unilaterally increasing by 5 years, within a 3 month period, that resulted in 13 years of mortgage under payments. This is not noticeable unless you…
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Dora's mortgage no more 2021
Starting a shiny new thread as we've just demolished our last debt, down from nearly £25k to £0 so very pleased with the last few years of graft. Now we have the mortgage to work on so the graft doesn't stop it just shifts focus. Bought the house at the peak of house prices in 2007 and have only just got back into equity…
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Frugal Bytes with TechnoThrift
Hey there, lovely folks of MSE 👋 I’m TechnoThrift, and I’ve just wandered into this corner of the internet because—brace yourselves—our mortgage is on track to stick around until we’re well into our late 60s. Cue the horrified gasp 😱. When I picture our 60s, I imagine lazy mornings, spontaneous getaways, and working less…
