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Dream. Believe. Achieve
Hello shiny new diary, I recently became debt free in December 2018 well debt neutral as I have enough money in saving to pay everything back. All my debt is 0% so currently using regular savers to earn 5% so snoozing the CC and will repay loan to parent when my next reg saver matures. If you want to read my debt free…
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Always moving forward
Good evening all. I'm a long term user of the forum but wanted to start this thread with a fresh name. I'm hoping this will motivate and inspire me to work towards being mortgage free. It's not going to be a quick process. My wife works part time and we have a 1 year old and a 4 year old. The nursery fees alone for the…
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Retention refund
Hi On 30th April 2019 i had a email from my solicitor saying over 12 months have passed(12.4) to be more precise) and they have my £322 retention they want to refund me from the sale of my flat and i need to email them a pdf of my bank details as they were not able to make the last digit of my account number , i did it on…
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Mortgage free by 50 (13 years to go)
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…
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Should i go mortgage free?
Hi, I've always liked the idea of going mortgage free but wondered if it's actually a good idea in my position. Asking for opinions, understand there is no correct decision. My position is: - 80% of my mortgage is 0.38% + BOE, currently 1.13% - 20% of my mortgage is 1.69% + BOE, currently 2.44% This is for the life time of…
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Joining the mortgage free journey :-)
Hey Guys. I ve been inspired by a lot of threads on this part of the forum - so I figured now is the time to start a thread/diary for myself and my wife's quest to become mortgage free! We married in August 2018 and have since returned from our honeymoon - the wedding and honeymoon were paid outright, but its left our…
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Overpaying the DIY disaster dwelling
Hi All I did have a diary here a few years ago, but am starting afresh. A bit about me, I'm 35 and live with my husband and 5 year old son in Berkshire. Both working full time. We bought our 3 bed semi in 2016 Mortgage balance today; £214,113 I'll admit it, I don't like my house and I cant wait to move! That's why I've…
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Pay off my mortgage in 5 years
Hi all, Thought I'd start a diary to try and give myself some extra motivation. I'm 25 and bought my first property in 2014. After a year or so of settling in, doing up the place and working out a budget, I then started overpaying my mortgage in August 2015. My mortgage debt started at £72995 and currently stands at…
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Bit the bullet
I have finally started my quest to be mortgage fee again. I did owe £203995, and had 23 years left. Last week I overpaid £12k and reduced the term down to 3.5 years. I fear I have now over committed. So the excitement of last week passing the affordance test, has now been taken over by fear. The plan was to save each month…
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The Owner of a Property as Died NO WILL NO RELATIVES maybe a chance to declare Adverse Possession?
Hi guys, I please need some help, the owner of the flat where I live as a Tenant has died and he didn't left any will and no relatives have been found! He was sick and the person that he give the power of attorney which is on the contract as the Landlord and Me and My girlfriend as the tenants, there is a letting agency…
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Mortgage Free Retirement I Hope
So it begins again. Another Offset mortgage application and want to be MF by 64 So will we make the dream come true. So my bank is happy to lend us a Huge sum of money without even sending a surveyor out to look at the house ! It's less than 50% LTV but as my brother is a Building Surveyor what does that say about his…
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I don't understand this obsession with being mortgage free
Rates are at an all time low - banks will just give you money away. The property market is pretty tepid with deals to be made (not straight forward I'll admit, supply is still low). If I was still employed I would be looking at levering up even more today! (Lost the old job and now working with some old colleagues to start…
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Getting back on the MFW Wagon
Hi :o I have attempted this MFW wannabe journey before, with little success and after reading so many threads on the forum, would like to try again. Looking back, trying to start a MFW challenge with a newborn was possibly not the best time for me as I had made grand plans, just when our income was decreasing. A little bit…
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And Baby Makes Three....
Good evening people in forum land I've been a long term reader of these, and dabbled a little in the advice I've read. However, times have changed, and I need to look seriously at our finances. We currently have a mortgage of £87k and have found out that a funlovinbabycriminal is en route to us in June. We are currently…
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redemption penalty or pay it off?
I have made a decision to sell my house. Sadly, I didn't make the decision 6 months ago, as I am now 6 months in to a 2 year deal. But nevertheless, my decision has to stand. Now, I have sufficient equity in my home to pay off my mortgage (owned it 25 years), and buy my daughter a much smaller property, and have a bit…
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Starting BEFORE I mean to go on
Starting off this thread initially as a way of venting frustration at the mortgage people. So to start: After getting full time work in my home town last Christmas I've been saving up for a car (not the right board for that so do bear with me) which I needed to get within 6 months as part of my contract. 5 1/2 months in…
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MissCreative's journey to financial freedom!
Hello! This is my first post on my first thread as I'm hoping to have some company over the next 10-15 years whilst I pay off my mortgage! :hello: I know you wouldn't really expect a 25 year old to be scrimping and saving to pay off her mortgage early, but here I am! :rotfl: So, some details about us and our mortgage: DH…
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Inherited Mortgage due to mature... options?
Hello, I am embroiled in an extremely complicated situation at the moment, and I am instructing legal services for advice but wanted a fresh perspective from other people. This may be wrong forum, maybe even website... If you can't keep up, I understand and please ignore my story lol My family home where I live belonged to…
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Whats your Safety Net Number?
Its great to be able to pay off the mortgage early if we can and its what everyone on here wants....but before we start lumping off wedges of our mortgage it makes sense to have some money in the bank as a reserve in case things go belly up....nothing new in that. But it got me to wondering....what is your "Comfort wedge…
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Excel guru help needed
Hi I hope someone out there is an Excel whizz and can help me. I've got a spreadsheet for my mortgage with interest rate, amount each day/month/year, payments and overpayments etc. What I'm after adding is how much interest each overpayment saves, and the length it shaves off the mortgage. Can anyone help?? I've got…
