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Mortgage Free at last but....
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…
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Nationwide making it difficult to finish paying mortgage
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…
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Radish & Hooch - The BIG house MF journey
So after 9 years of being together only at weekends, this year has finally seen some excitment and much stress My house sold in April (virtually MF) BF house sold in July (58% MF) We bought the BIG house in August and have lived here 2 weeks today After a deposit of £95K being put down we are now left with a mortgage of…
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36/100 payments into MFW - SOA for review
About 3 or 4 years ago I split the mortgage balance into 100 and vowed to overpay every time I had saved up. The balance of mortgage was in the 160'sK so I rounded up to £1700. Up to now I have paid 36 overpayments leaving 64 to go. This still leaves my balance at well over 106K. I am becoming a bit despondent as although…
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When I grow up - The Return
After over 3 1/2 years I've logged back into my MSE account :eek: after spending time over the last week reading some MFW diaries and I'm itching to get back to overpaying after an unexpected house move last year. A summary of my previous diary/home ownership/mortgage history:* We became (very lucky) home owners in late…
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Borrow against BTL to refurbish main residence
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…
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Mortgage Advice - What would you do?
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…
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Mortgage free advice and tips
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…
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Regular Overpayments vs Lump Sum Overpayments
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…
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The last £20k...
As of yesterday, my remaining mortgage balance has finally dropped under £20k :j (£19843.70 to be precise). If I leave it to tick along as-is it will run to January 2025, and i'll pay about £2200 in interest between now and then. Currently monthly payment is £290.06 Obviously I'd rather pay it off quicker and save some…
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SH77 Accountability Diary
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…
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Bit of a progress update
Bit of an update, our original 3 year deal just finished so was able to make an overpayment of 23k to reduce our mortgage balance which now stands at just under 90k and has knocked 6 years off our 19 year mortgage term. Signed up for a new 2 year deal at 1.69% which has the same monthly payment roughly as before. After our…
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Freedom for the future
Hi All, I've been an avid reader and occasional poster of the forum for many years but now I need a push to achieve my goal so I've decided to start a dairy to keep me accountable. Back story - back at the end of 2014 I was close to mortgage freedom @ £52k. But following the little MM's arrival in 2012 we needed to move to…
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Is now the time to move?
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…
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How best to pay off mortgage?
Hi Will be debt free except the mortgage in September and want to then start to attack the mortgage , currently stands at just over £100,000 with 14 years to run. I am confused though how best to do this, is it better to put aside the savings in an account then pay off a lump sum or pay extra each month? I am with…
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Best Mortgage to Overpay
Hi guys, If I wanted to go for a Mortgage where I had no restrictions regarding overpayment, what is the best one to go for please?
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Impossible to reality
I always thought growing up that I would never own my own home, was just too far out of reach. But just this week, we have moved into our own home. What I thought was impossible has just become our reality. :j I am over the moon with what we have achieved in just a few short years but also very eager to start paying off…
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My Lightbulb Moment
Hi everyone! So I'm feeling a bit nervous making my first diary but it's been a long time coming. I've always thought of myself as a money saving queen...and felt (embarrassed to admit this now) smug when I had saved a deposit and got on the housing ladder at 27- something my friends would be a while in doing. However,…
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Mortgage ... or pension?
Being a newbie to all this money-saving, I've spent the past year over-paying my mortgage as much as I can. It's very slow-going as I can't afford much but it's also very satisfying to see the outstanding amount reducing. However, as time has gone by and I've learned more about savings/interest/pensions etc, I've realised…
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Interest only offset mortgage - Too good to believe?
I recently saw First Direct offering Offset interest only mortgage. I have 60% LTV left and now thinking of taking it. I also (by grace of God) have the remaining 60% in savings. If I put the whole in First direct, that would mean I would have 0 (zero) to pay in mortgage payments. I am aware that would mean I do not touch…
