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MFW to MF Future Me.............
Hey all, Dolly here with some goals to tick off one by one! I really need to get a lot better with my finances. I'm 40 now so time to grow up and get a grip!
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Anyone taken out a large mortgage (over 300k) at 50?
Hi all We decided to move to our dream house this year. Our mortgage has gone from £800 to £2100 per month. Is there anyone else who’s done this sort of thing at aged 50? I think everyone thought we were nuts and they were probably right! But I don’t regret it.
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Should I pay my mortgage off?
Hello, My mortgage Is coming up for renewal in November and it currently stands at £32,000. I have been on a fixed rate for five years at 1.8% and I’m terrified about the monthly payments jumping up when I renew. Having done a budget plan this week in preparation to meet my mortgage advisor, I was shocked to find my…
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Paying off within the 10% limit
Hi We have a mortgage with Nationwide, 10 yr fix at 2.09% with 6.5 years to go, current balance is ~£27k and the original loan was £100k so checked with Nationwide and an overpayment of £10k is ok without invoking early repayment fees. So it’s possible to clear the mortgage in 3 years rather than the remaining 6.5, which…
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Shaving off the years at Sleepy Hollow
Finally after YEARS of talking about moving DH and I have done the big move. We've significantly increased our mortgage and started off on a 34 year term to give us some breathing space for a larger mortgage payment. We're aiming to reduce our term to 20 by making regular overpayments. Interested to read along and see what…
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New life, same goal! Pursey’s quest to be mortgage free.
I started a diary back in 2011 with the aim of being mortgage free within 10 years; a goal I would’ve smashed (within 7), if we hadn’t bought our dream house in the hills. Life has changed so much since 2011, most significantly because we are now blessed with 3 wonderful children. Then we found somewhere perfect to live,…
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Paying off my mortgage early where do I even start?
Hi all, Been reading a lot on here and finally thought I’d post. I’m starting to look into overpaying on my mortgage but not really sure what’s the best way to go about it. There’s loads of calculators out there, but I one and was messing about with the numbers its called checkawage.co.uk It’s mad even just overpaying £100…
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Two years and then downsize... DONE!
Hello - I wanna be mortgage free! I have a mortgage in the high £40k's which has 14 years left to run and fixed at 3.04% until end Jan 2024. I'm divorced and have a grown up son living at home and job hunting, plus a teenager. September 2019 I got a temporary promotion at work and made the decision that all the pay rise…
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Paying mortgage off (Northern Ireland)
Hi interested in anyone who has paid their mortgage off (particularly from N.Ireland). I'm being told to contact a solicitor to have them remove the lenders charge over the property (Discharge of Security). I take it this is just another money grabbing exercise How much will this cost thanks
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Mortgage free in 10 years - success
Hi Long time lurker here but just wanted to share the news that after nearly 10 years in our forever home, we have just become mortgage free! Things were hard financially for a long time, and when things started to ease, I proposed saving the extra and paying off our mortgage. Our 1.7% fixed rate came to an end recently,…
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Impossible challenge
Hello! Trying to keep motivation so decided to stop lurking in the shadows and start my own thread. Family of 4 (2 adults and 2 children) with a very large mortgage of now £470k over with just over 23 years left. 1.5 years into a 5 year fix (thankfully a cheap one). OH and I are fortunate to have well paying jobs but…
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Just at the start but already planning to be MF ASAP
Apologies in advance for the ramble…. So, it's been well over a decade since I was on here. Back then, I had some debt, and sound advice on here helped me pay it off. Now I'm onto the big guns as a First Time Buyer, and MSE and TikTok have been helpful yet again. I've had an offer accepted on a house, spoken with a…
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Hope is not an Effective Financial Strategy
Hi all - Thanks for popping in and helping me to stay motivated. This is the 6th version of the opening post (Jan 2020 - 58 months into this diary/challenge), but is reflective of where we are currently at. Lots has changed since starting this MF journey, not least adding a 3rd child to our household! Initially this was to…
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At a crossroads
Hi all. Ive been an avid reader and sometimes contributer to the debt free wannabe pages for some time although not so much in the past year. Ive got to the point in life where excluding the mortgage, ive managed to pay off all debt. No loans, credit cards, student debt, hire purchase. Nothing. Its all gone and i must say…
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Light the fire...
Hi All :wave: After lurking for a few years and having been inspired by lots of the amazing stories on this board I have decided that its time to join in and post my (our) journey. I am a mum of two (DD is 8, DS is 3) and have been married to my lovely DH for 10 years. We moved into our current house 4 years ago. We paid…
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Mortgage Free by 53!!
#Saved for totals.#
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Mortgage overpayments
I am coming to the end of cheap 5 year deal, obviously interest rate will be going up, probably quite significantly. We have saved £50k in this first 5 years - should I pay that to the mortgage as an overpayment to keep future payments down when higher interest rates kicks in, or pay the higher payments in future but don't…
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Reposession - negative equity
Myself and my ex partner had a house together, he refused to sell at the time despite me requesting this several times, and instead rented it out to various people that refused to pay. It got to the point were we owed thousands and got taken to court and did a voluntary repossession, and have ended up owing £35,000. I have…
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Paying off a mortgage with inheritance
Hi. I hope this makes sense! I'm due some inheritance which I'm going to use to pay off the mortgage (this is not the bit up for debate, it's going had enough). My question is - should I pay it off just as my current deal ends? Does this stop early repayment fees etc? Thank you.
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Mortgage Free in 5 - 10 years
Thought I would start this diary to document the process. Previously had a debt free wannabe diary and that helped keep me on track thanks to all the feedback. Debt free since April. Currently have the following state of affairs: Mortgage Balance £136,858 at 1.22% for next 5 years Emergency fund for 5 months bills £1655…
