Mortgage-free wannabe

Hi I wish to overpay mortgage - owe £45500 and can overpay 10%, which I have to do before the end of December. This is spilt into 4 loan parts - 4900 26100 13700 751 What I am trying to work out is, does it matter in financial terms, which of these loans to pay to? Are any better to pay to than others or is it more…

Hi everyone! Back with a bit more info on us. Me and hubbs in our early 40’s. I work part time, hubbs is full time. Our daughter also works full time. We are in our third house. We bought it for £188,500 and put a deposit down for £97,500. We love it here and doubt we will move again. We are aiming to be mortgage free…

Hi All I have just got a credit card with a £12k limit. I have a mortgage of £520 a month but i currently overpay an additional £300 on top, so £820. I was just looking at my credit card and it is 0% on money transfers for 12 months, just a 3% initial fee. My thinking is this...Transfer say £5000 to my account (£150 fee)…

Hi everyone, Setting up my diary, ready for 2020: We are a family of 3, me, hubby, daughter, plus our beloved pooch. The plan is to pay off our mortgage over the next couple of years. Balance as of today is, £52731.00. We are getting our plans in place and will update on here to stop me straying and spending my money on…

Yes, it's a huge mortgage. Yes, I'm in the South East. I'm a single parent, self employed and I really want to tame this mortgage beast!

Hi All, Got my mortgage approved and towards the exchange I paid all of the deposit. We save for years and years for a deposit and then it just goes away. For e.g. in my case, I felt financially very vulnerable after paying all the deposit and I am still coming into terms with seeing my account so low. But on a positive…

Thanks for the advice given

Having to start a fresh diary as unable to log into old one. So with only a couple of weeks before christmas I've attempted to look at starting to over pay on the mortgage which will be a squash and a squeeze but I need to do something in the new year. So I thought I'd restart the diary now rather than wait until the new…

I don't know how well I'll maintain this as a diary, but thought I'd share our story so far. We bought our home back in January 2015, as we only had one earner to make it more affordable we took the mortgage of £107,200 out over a whopping 32 years. We started a two year fixed deal during which we only made 2 x £200…

Hi everyone, feeling really inspired by all of the diaries although slightly overwhelmed as only seen 2 other large mortgage ones! I'm doing this diary to try and hold myself accountable to chipping away at the debt. I set myself a goal at the start of this year to overpay £50 per week, but I often forgot to make the…

Interested to get feedback and thoughts from you. I'm really torn, up till now in life i've always been an overpayer of my mortgage but interest rates are so low, i'm now thinking investment is the right way to go. My circumstances are: High rate tax payer, already max out my pension of 40k per year and ISA also maxed out,…

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Thanks to a bit of inheritance, I’m about to pay off my mortgage on my 4 bed detached house! I’ve overpaid for a while but came into a bit of money which has given me enough to clear the last £34k. I can’t quite believe it!! Whoop!! House no.1 purchased 1997 for £51k Sold for £125k in 2010 House no.2 purchased for £160k in…

A new year is coming and a fresh start is needed ..After being completely rubbish at keeping up with my old diary I thought i must try again . I now owe £134,000 or at least i will do by the first of January so new calculations to be made .I must now try to find around £430 a week ,huge ask but as my mortgage is interest…

Welcome to the Mortgage Free Wannabe 2020 thread! :heart2: Over the last few years, this challenge has been providing support for everyone who wants to overpay their mortgage, whether it is by a big or small amount. Every little helps, and together we have been overpaying around a million pounds every year over the last…

Hi All, Second post I thought I would give you an update, It has been a while since my first post and I wanted to share where I am at. I have until Aprill 2022 to save 1) Pay off the car and 2) mission to save £10,000 to pay off some of my mortgage they are my new plans as I had to get a new car, however I was very savvy I…

So I have done it once before, I was mortgage free for a grand total of 3 months 😂 Our first mortgage was £82,500 originally over a 25 year term. We made regular overpayments of £50 per month from the second payment and overpaid when we could. A couple of lump sums helped along the way too and after 123 payments our…

I'm starting this new thread a bit earlier than planned :D My old diary is here: https://forums.moneysavingexpert.com/discussion/5940974/2019-transforming-and-becoming-mortgage-free#topofpage (Hoping that link works - not great with technology! :rotfl:) Now that I have achieved the majority of the goals I set last winter…

Hi everyone So I'm happy to say that yesterday i made my first overpayment of £100 towards my mortgage :j My goal is to reduce my 28 year mortgage to 11 (in time for my 50th birthday) so it's a bit target to try to hit but I'm committed. The payment is a fraction in the big scheme of things but every little bit helps. My…

Hi everybody need advice making a big decision, me and my partner have 40,000 left to pay on the mortgage. We currently can't over pay untill July 2020 and we aren't living in the best area which is making me won't to move house asap as we now have a baby . My partner has suggested we stay here for the next 6-7 years pay…