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MortgageFTB's Countdown
After being in our first home for almost a year, decorated and replaced a bunch of appliances, we've decided to focus on getting rid of our mortgage. 24 years more of mortgage sounds... meh. Prior to paying our mortgage, we were paying around £1,600 in rent pcm, so we feel we can definitely match this for our mortgage…
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Lumina's leap towards a brighter future
Like many others, I've read countless mortgage free wannabe posts over the past year, but never managed to start my own diary. But here we go, I'm determined to make a start. A bit about us, we're a family of two (soon to be 3 :j) and have gone through so many changes over the past year, that I've kind of lost track of our…
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penalties if you overpay over 10%?
hello - anyone know how much the Halifax charges if you overpay more than the 10%? I've paid off a sub account of my mortgage - and now just have £39K on interest-only terms, at 3.34% until April 2021. I called Halifax to confirm figures but they said one figure then another. And refused to write to confirm. I'm worried…
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Giving it a go!
Hi all, The first and only time I posted was a week after my ex husband left me and I was in a right pickle emotionally and financially. I came here originally to ask for advice regarding a removal of borrower from my mortgage, and some people were really helpful. Unfortunately my mental health took a serious turn and I…
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How does remortgaging work? Can I cash out
Hi I took an 18 year mortgage a year and a half ago. by the time my 2 year term is up I'll have 55k in the house. I've recently been viewing houses in Scotland that are going for 40k. Is there a way to pull my money out of the house? Ie. sell up and then get my 55k that I've paid into the house
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A new start... a long journey...
Well hello to all in here Where to start, a bit of background. I am 36, and this year have my wife an I have divorced. I was left with nothing (including no job at the time as had just had surgery) However, I am shortly completing on a new home, via the shared ownership scheme. I have done this so that my two boys (stepson…
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Best Mortgage Providers for OPs
Hi, This may be better for the mortgage board but i wanted advice from the OP community :-) I am currently with the Leeds and bascilly they are pretty rubbish wirh overpayments. they dont recalculate anything unless I repay over £1000 in one go and there is no online access. Who are the best providers for overpaying wuth…
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23 + 38 = Far Too Long
I've been lurking here since back in April in preparation for my House Completion, which I finally did on the 26th September. Now i'm looking to start overpaying! Some background, I'm a 23 year old Single Male with a mortgage of £139,545 over 38 years and a H2B loan of £37,999. Current plan is to try and overpay as much as…
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mortage and over paying years off mortage question
hi guys well i currently have ashared ownership house which i brought 50% 3years ago. with a mortage of 43k plus 22 k deposit, i remortaged last year to buy more of the property so now i have 80% with a mortage of 81k with a 35 year mortage, i have been over paying as much as possible and my mortage is now down to 70k i…
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The £300k Road to MF Wonder by 40(ish)!
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…
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A long journey ahead...
I am biting the bullet and creating my first journal on this site, dedicated to my goal of becoming mortgage free and retiring at 60 - hoping to record my progress and pick up some tips along the way! Both my mortgage free status and retirement status are around 20-30 years away - I am 31, single, living in a mortgaged…
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Mortgage Money Worrier
Minefield, I entered it a little under 5 years ago, taking a 5 year fixed deal, on my own, at 32, I don't know which details should be kept private when discussing mortgages and my personal finances, but I'll figure that out as my quest to cure myself of this mortgage continues.... I'm quite a savvy shopper with a couple…
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Over payments vs Reducing the term
Hi everyone, I have just recently started to make overpayments to my mortgage (its a 95% mortgage with 33 years to go, on a two year fixed rate (just passed year one) of 3.19%). I recently moved jobs for a decent pay increase, so I am now able to make £500 a month overpayments with the aim of getting down to the next…
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Its time to grow up and pay off the mortgage
Well this is our year to start chipping away at the mortgage!!! Got our annual mortgage statement in, and instead of filing it away, I actually read it this year. We are due to be mortgage free in 2032 at the age of 48. This seemed very far away, so I began playing around with numbers and spreadsheets (a major weakness of…
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Discipline buys freedom
Hi all, I have read many of the journeys on here when I need motivation. I had enough of a deposit to put down £160 000 on a house. This money was acquired by 15 years of renting a room in various peoples houses and saving, completely avoiding any holidays that didn't involved a tent, making rock climbing my sport (less…
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Diary of a Property Dreamer
Update We now own a house worth about £305,000, with a mortgage of £216,944.65 We are 25 and 24 respectively and are currently bringing in about £50,000 between us after a change of careers. Things are tight so we are taking it slow and trying to be patient, whilst keeping costs to a minimum and trying to advance our…
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2 years to be mortgage free??!!
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…
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Mortgage free next steps?
So I’ve been struggling to answer my own question for some time and thought it would be simple to solve myself. But have realised I need some in put to get the best idea of what to do next. I’m 32yr old male. I’m managed to buy my current house mortgage free. This is the first time purchasing where I haven’t required a…
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Life changing decision.
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…
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Early Settlement vs Investment
Hi all, Our mortgage has £154k and 21 years outstanding and will reach the end of the fixed term in November (£5k penalty if settle before). We've recently come into a position that would allow us to pay it off in full when that term ends. Our current rate is 1.88%, and I'm sure we could get something even lower if we…
