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Mortgage free and Help to Buy Loan free by 2023
Hi everyone, Sorry another new diary. I have tried in the past to maintain MF diaries and life has always got in the way, but I'm determined to keep this one going :) A bit about me and my situation. I'm a SAHM to 4 DS's aged 2 to almost 8 <3 . DH works part-time for a large company. We don't have a particularly big income…
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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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Thinking about a journey to becoming mortgage free
Hello I was a MSE forum member 10+ years ago now, using all the great advice to pay off my debts. I became debt free in 2009 :smile: Bought my first property on my own in 2013, a 1 bed flat in the suburbs of South East London. Bought for £180,000 with an £18k deposit; I consider myself incredibly lucky to have managed to…
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Slowly slowly catchy mousey
I've wanted to do this for a while but my plans keep changing. I've always repaid more than due each month which has left us in a fortunate position although still paying a mortgage. I've always been careful with money even at uni I was working in nightclubs instead of paying to get in. Now with two kids and a husband,…
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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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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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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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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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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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Free By 45
Hi everybody. I previously had a username and diary here many years ago, but I completely forgot my login, so here I am with a new login and new diary! My goal is to pay off as much as possible, if not all of my mortgages by my 45th birthday, which just happens to be 45 months away in 2024. I have two mortgages, one is a…
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Any single mortgage free wannabes?
Hi there I know that it shouldn't make any difference and I have been reading a few of your diaries and picking up hints and tips but I was wondering if any of you were single with no kids? Would be nice to see how you are coping with only one wage coming in and no one else to rely on. It would be good to follow those I…
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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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Halifax variable
Hi, Think Im reading this on the Halifax website right and Im down to just under 9k left now so going to bang this out as much as possible... End of my current Halifax deal 1st May. I take it it moves onto a variable then automatically? Also anyone know if you can do as much/many overpayments as you like then? When you get…
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Halifax Overpayments
Morning For the last 6 months or so I have been making small overpayments on my Halifax mortgage via online banking. Do I need to contact Halifax to specify that I would like the overpayments to reduce the term of the mortgage? Since beginning making the overpayments they add upto over 1 months repayment, or 2 months worth…
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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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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.
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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…
