Mortgage-free wannabe

Morning all, Long time lurker here, and also had a previous diary under a different username. A bit about us: there's me (31), DH (35), DS (5), and DD (3). We (just) live in the South East, but in an area with reasonable house prices! That meant we were able to buy a 4 bed house nearly 6 years ago, with a mortgage of just…

Hi all This month we became debt free! next we are building up an EF of 3 months expenses , that should be finished in next 4 -6 months and thereafter we are going to be over paying towards the mortgage. We currently owe £100,643 with term of 14 years left , fixed rate until April 2022 at 2.19 % payments are £682.00 Would…

Hello everyone, After lurking in the background I have finally plucked up the courage to start a thread again. I had a diary a couple of years back but never seemed to have time to update it. I’m truly inspired by the diaries on here and want to be part of this supportive community. A bit of background about me...I’m 30…

Hello everyone, After having all of our debts paid apart from our mortgage, we are now looking at how we can get our mortgage paid off quicker. We would like to aim for 6 years - this is by the time our youngest starts secondary school. Our existing mortgage ends in March so we can start looking from December but I am…

Well here goes....again! Previously started a diary back in 2017 (https://forums.moneysavingexpert.com/discussion/5557221/little-by-little-to-be-mf) but things drastically changed during that year which meant that my original goals felt completely out of reach. To summarise the clusterf**k that is my financial situation: *…

Hi all I have just bought my house and eager to start overpaying on my mortgage. Could anyone with a Lloyds mortgage tell me if their balance changes daily to reflect the daily interest added to the account? Hope this makes sense Thanks Susanna

Never started an office diary on here before but have always wanted to be mortgage free. Every house I've owned I've overpaid with that dream. But life tends to get in the way, as just as am about set a firm plan its time to move up the ladder. Thankfully we are now in our 'final' family home, move in 2.5 years ago, and…

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2018 was quite a year, I mean, brexit, brexit and well...brexit... for me however, 2018 was full of surprises and a complete change in lifestyle and money management! At the end of 2017, I started going out with a fine, beautiful and hilarious young lady. In May 2018, we adopted a kitten, an adorable black and white cat…

Hello. I am looking to pay off the remaining mortgage balance in 2 years time (2021). The current balance is approximately £57.5K. I have a couple of 2-year products to choose from but I'm not sure which one would work out better. I could choose a 1.61% rate with a product fee of £995 (approx £308 p/m) or a 2.25% rate with…

I had a mortgage with Northern Rock, when NR went into administration, they for some reason placed my mortgage with NRAMS who eventually passed it on to Tulip mortgages managed by Engage Credit. On the 1st Aug this year I requested a settlement figure, after requesting it a further 3 times, I eventually got it and…

Hi, I have just made the final payment on my mortgage! However, I am still repaying a further advance, taken out on a 5 year fix, same property. I have 4 years left on the fix with 9 years remaining on the term of the loan. As I now have the excess cash from my main mortgage available every month i’d like to pay this to…

Hi experts So, bought a house and got a mortgage of over £300k over 30 years. I'm planning to make overpayments over the years so that I will be mortgage free within less than 20 years. I have read, heard and seen that people are mortgage free within 10 years. Realistically, it may not be possible for me to achieve to be…

Hi I have got 2 year fixed mortgage. I'm planning to make some overpayments within these 2 years. However, not sure whether regular overpayment is better than one lump sum payments. For example, lets say I over pay £400 per month for 2 years which means over 2 years its £9,600 of over payment. Or make 2 lump sum…

Hello friendly helpful people, I have posted a couple of times here having found the forum when I was struggling with worry over the size of the South coast mortgage I took out in April 2018. At the time this was £338.5K, I also had unsecured debt then of around £25K. I have had no life and worked way more hours then is…

Hi. I have been a MFW for a few years now. About 2 years ago I reduced the term of my mortgage from 23 years to 3.5years with my mortgage going from about £950 to currently £5500. All had been going well. Standard of living is good. Lots of holidays so it is affordable. I have 16 payments left with about £89000 owing. Kids…

Hello, I’m just looking for people’s opinion on what they’d do in our situation. Married Both 25 y/o Own our house - £240k £140k left on mortgage, still in the first year, we have a 5 year fixed rate Both earn £30k Both paying into company pension - minimum amount we can, such that we get the maximum from our employers Hit…

Hi everyone I thought I was set on my plans to move in the next six months but now I'm starting to wonder if it's the right thing to do and could do with some advice. We currently own 50% of a small 3 bed semi. Bought in 2007 by my OH for £65,000 (full value £130,000). I moved in (and transferred onto the mortgage) in…

We (wife (30), myself (29) and baby (4 months) have a plan to be mortgage free by the time our youngest hits secondary school, which I believe gives us around 11 years from today. (although I'm not sure the baby has much of a say...) We also have a Japanese Spitz called Sasha and 2 cats (Bluebell and Pixie) so it's a…

Hiya :j Figured I needed my own lil anonymous space to ramble on about what I have going on financially to try and get it all straight in my head, make sure we are doing our best to make our money work well for us and stay accountable. OH and I are moving in together and combining 2 lots of 2 teenagers. Here are our…