Mortgage-free wannabe

OK so that maybe slightly optimistic but you have to dream big! I’ve been reading these for a while and decided it was time to go public instead of lurking; hopefully I can keep up with it and keep motivated. I have a mortgage which is not huge but I still have one. Originally £80,000 in November 2015 and as of tonight…

I always knew I overthought things but even I didn't realise just how much until it came to house buying and then mortgage overpaying. When we took out our mortgage we went long (30 years) intentionally to allow us a buffer of lower payments if ever needed but with the intent of overpaying. We've now been in our house 4…

Welcome to my first ever mortgage-free wannabe diary. :T I purchased my home 6 months ago and am still recovering from the shock of the monthly interest payments. I bought it for £145,000 with a 95% mortgage at 4.04% fixed for 2 years. I would have liked to save up a 10% deposit to get a better rate but it wasn't possible…

if you really want to be mortgage free don't just consider overpaying . The current interest rate is around the @% mark so any over payments could be invested for growth of over that with ease. hargreaves Lansdown have an ISA that you can choose the funds or they will pick for you. No advice fee and easy to set up funds…

Hi, I have an offset mortgage and was wondering is it better for me to pay things such as council tax on a weekly, monthly or yearly basis to give the most interest/savings on mortgage interest or does it not matter? To me it seems paying things yearly would be better as it leaves all the cash against the mortgage for a…

Hello! Long time lurker to this forum so thought it was time for me to join in with a diary of my own. I'm 31 and engaged and live with my partner in our first home which we purchased two years ago. We bought our house for 153k and I love it. It's nothing fancy and it's pretty small but making it a home without spending a…

So I just checked and I originally signed up to MSE Forums back in 2008! Back then I was looking to be debt free, which I managed in 2012. There’s a lot that’s happened since then and my current situation is as follows: Married in 2015 H born Sept 2017 B due Aug 2019 Brought our house in 2014 for £205,000 Have £135,583.83…

Hi all thought I would jump on the band wagon and get this debt paid off earlier . Current situation I am 32 years old and currently have a mortgage outstanding of just over 129k on my 210k house. ideally i want to be mortgage free before I turn the big 40 which I know would be extremely difficult Current mortgage details:…

Hello MSE folks :money: Is there a calculator out there or an easy way of working out how quickly I can pay off my mortgage if I pay off the max 10% amount every year? So my usual monthly payments, and each year with the 10% lump sum added. At the moment I can find calculators that work out how much you'd save with a…

Ok... so not quite a farm, but a few chickens are the plan! So the past I bought my flat five days before Christmas 2014. I had been desperate to buy, having missed a few opportunities in the past and instead of feeling joyous I just sat on the floor of my new empty home and cried. I was 27, had put in a deposit of 45k,…

Hello. My husband, doggy and I moved in to our first flat in mid January. We're finding the prospect of the huge mortgage debt somewhat intimidating so have decided the best thing to reduce our anxieties is to try to do something about it! Have been lurking on this forum now for a while, and making an occasional…

Hi everyone! Currently looking at acquiring my first home and I'm torn between choosing with my head or my heart. I currently have £30k saved up as a deposit for a 2 bed property but the prices vary wildly. I tend to side with cheaper options (as I can pay them off quickly) and expensive options (as I would see them as a…

Hey! I'm in the process to buy a house. All the searches have been just made. The report shows that Natural ground subsidence is on Moderate-high level. Please, see on the attached image below. Is that something which I should consider? Should I make structural searches (which cost £800). Should I directly try to get a…

Hi folks, wonder if you might be able to help me. I'm 31, engaged and into the second year of the mortgage on our first property ( 153k) We've been overpaying and have got our LTV down to 73% I work in the arts and earn £23k a year, my partner earns closer to 40 pre tax. Although I've never earned much, I've been a saver…

Hello everyone Long time lurker and you guys have inspired me a lot. I’m looking for motivation to keep going with my horrifically ambitious target and so I’ve decided to start my own diary! The facts: Mortgage currently of £343k with about 22 years to run. It’s fixed for another 6 years at 3.19% and so far I have over…

April 2010 - Took out mortgage for £112,000 April 2019 - Current balance £ 74,026.70 Which means I have paid off £37,973.30 !! 17 years left to go...... :wow: Crikey! :hello: So - its been a tricky old path to get here. Lives and paths are never simple, are they?! My particular story starts with a divorce. I bought my…

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…

This is a fairly quick question as I suppose I'm looking for a binary answer. I have £70K repayment mortgage @ 0.75% variable (i.e. English base rate) with freedom to make unlimited overpayments through my employer. I also have circa £4.5K left on a personal loan for a car @ 11. 9% (when I applied for the loan, I was…

Hi all, I have about £200k to pay on my mortgage, it’s on offset interest only, so I put £1000 a month against that. It’s ISA time, and I don’t know what to do...I’ve only been putting money into Ida’s for 2 years so only have about 60k (mine and wife’s)....I’ve got £20k from saving super hard this year, should i ISA it or…

Hello everyone! Been a lurker on here a while and reading all the diarys it really has motivated us to get our finger out and tackle our mortgage. We got married and moved into our first house last year so things were a bit hectic money wise. We are both 30 y/o and 1 year into a 25 year mortgage with the balance currently…