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Buying cheap
Hi peeps was wanting to know about buying property’s cheap at auctions the costs involved Anything to look out for any costs to consider as would love any advice at all Completely new to it all I’ve seen homes going for 30k at online auctions and was just thinking it’s a better investment then buying a 30k car And if I was…
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Panicking about mortgage end date approaching
Hi, I am 20 months off the end of my mortgage term, 8 years ago we hit hard times financially and health wise so I rang my mortgage company (lloyds) and changed my repayment mortgage to interest only. We have only now started to get on our feet and are fine financially. My problem is our mortgage is around £50,000 and 20…
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Trying to plan, with out a plan
Hi all Had a little sleepless night (due to kids, not stress/covid-19), so excuse the ramble. We have a 3 bed detached house in scotland, and two young kids. Wife had a fabulous job for a supermarket chain, me not so good job. So, we remortgaged 3yrs ago, to hopefully try and pay the mortgage off sooner, and probably…
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2 Part Mortgage. Which Part Do I Make Overpayments On??
Hi All, I have a 2 part mortgage both running for the same term but with different interest rates & amounts. Part 1 £22350 - 2.09% fixed til Jan 2023. Part 2 £30670 - 0.39% lifetime tracker. (BOE +0.29%) I want to make an overpayment of £100 ever month but I don't know which part to pay it off? As I want to decrease my…
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What happens when you make your final mortgage payment?
Hi I hope to have my mortgage paid off within the next 2 years. I'm wondering what happens once you've completed paying it off with regards to the deeds to your home? Are there any legal fee's etc, do you need a solicitor, do you physically get the deeds to your home? Sorry if this has been asked before and thanks for any…
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Is it possible to Pay 10% off the mortgage and then get an ERC on a lower amount?
Hi there, I am in a position to pay off my mortgage, however, looking to try and save money on how to do it. The mortgage is close to £150k, I pay about £300 interest a month on average and my current deal as about 18 months to run. I never make any over payments so I do know I have my 10% available to pay. My question is,…
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Second Time Lucky!!
Hi all - I started my journey to mortgage freedom a few years ago but didn't / couldn't keep it up due to redundancies and illness. I am looking to sell up my current property in the next year or two, to move to the forever home. However, I'd like to reduce the current mortgage just in case this move takes a while due to…
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First time buyer want to be mortgage free
Hi guys and gals I bought a house with my partner for 83,500 and a mortgage of 75,150. The mortgage is showing on my accounts page on nationwide and interest is accruing everyday but I have no letter yet informing me how much and when payment will be. My partner is furlonged and his pay will be drastically cut as his…
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Should I go mortgage free?
Can't make up my mind so thought I'd ask others opinions. Redemption figure is £6200 with interest at 2.29%. If i carry on paying normal payments (inc overpaying) I'll be free of mortgage anyway in approx 22 months, without overpayments it'll be about 3 years. I have £7000 in savings currently earning 1.2%. So if i pay it…
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Money and Life - my journey so far
I was on this forum when I started my MF journey a few years back and it has been a real help to me in the past. I haven't been on here for the last few years, but I have never stopped overpaying. My mortgage started in 2013 with a balance of £145k. Today the balance is approximately £15,500. I should have it paid off by…
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The light.... I hope it's not a train
The year was 2004, a fresh faced Roger Red Hat in his very early 20's placed a shaky foot onto the property ladder along with the 19 year old Ruby Red Hat. Our mortgage was £90,000 and for a couple earning £22k (COMBINED!!!!) the thought of having this paid off seemed a long way off. Well, it seems we were right. 16 years…
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Wishing on an ickle star
After lurking on other peoples diaries for a year I've decided to see if having my own diary will make a difference! Our circumstances have changed over the last few months which is making overpaying a whole lot more tricky but that's part of the fun....isn't it? I'll explain more about that later I'm sure - don't want to…
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My big financial challenge to mortgage freedom
I've been avidly paying off as much of the mortgage as I could for the last 8+ years, only...it wasn't my mortgage. Now we are parting ways and I'm ready for a new challenge. I need to get a mortgage-in the throes of, as we speak. Once I get it, I need to pay it off ASAP. It's more than 3 X the size of my ex partners…
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What would you do? Support needed...
Hello everyone, I'm faced with a decision and wonder if some of you might comment on what you would do in my situation. I'll tell you my thoughts - please feel free to comment or suggest other alternatives. Thank you in advance.... Current position ... I have a £69k mortgage at 4.74%, monthly payment £420 I have Ccard debt…
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Time to get back in the saddle!
Its been over a year since my last thread. I've seen the return of depression but have a good gp so was on the correct meds quickly. My personal side effect of the meds is as I'm less up tight about stuff... So I've added quite a bit of debt.. Nearly new caravan loan (not that I'll be using it much soon!) Part loan for…
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Mortgage free - are there any disadvantages ??
Hello, Just wondering if there are any disadvantages (f.e. higher tax ??) at all to being completely mortgage free ? Many thanks in advance for your responses and stay safe !
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Mortgage refusal
Hi all i dont know if iam in the right page,i wanted to ask for an advice or a solution,today my mortgage from santander was refused based on mine and my wife's outgoing bills,i don't see how that can make any sence as now i pay £600 rent where is my mortgage would've been £360 a month,and my outgoing bills have never been…
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Back to it
Hi everyone, I haven’t had a diary in any form before but I do really enjoy reading people’s achievements so I’ve decided a lovely shiny diary might help me become mortgage free. There is myself, DH and DD <3 (age 2.5) in our home. We have very much appreciated the security of having our own home during this pandemic and…
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Paying off the outstanding balance, using all our savings.
My wife and I are in a very fortunate position, despite this Covid-19 crisis, I am still earning a full salary and we have savings too. My questions is, with interest rates as low as they are, I think the best instant access is 1.25%, would we be better off using our savings to pay off our outstanding mortgage and then…
