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Mortgage Free in 5 - 10 years
Thought I would start this diary to document the process. Previously had a debt free wannabe diary and that helped keep me on track thanks to all the feedback. Debt free since April. Currently have the following state of affairs: Mortgage Balance £136,858 at 1.22% for next 5 years Emergency fund for 5 months bills £1655…
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First ever mortgage and start of my MFW Journey May 2024
So as of yesterday by Mortgage Lender had transferred the mortgage money to my solicitors plunging me in to the most amount of debt i've ever been in, in my life. I am very much looking at this as 'good' debt as opposed to 'bad' debt. I am starting a journey on here to try to make myself accountable for becoming mortgage…
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Using credit card to pay off mortgage?
I'm coming to the end of my fixed term deal and only have 15 months left on my mortgage, Unfortunately I have to move onto the standard variable @ 7.99% so I was wondering if it would be possible and cheaper to pay the balance of my mortgage on a credit card then do a balance transfer onto another card with a 3% fee?…
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New Mortgage, New Marriage, New Allotment - Oh My!
Hi Everyone, I thought it was time for a fresh diary considering how much has changed since I started the last one. I bought my first home back in October 2016 and with the help of MSE was able to pay off around 88k of my mortgage over the 5 year term. Sadly my OH was diagnosed with colon/liver cancer early on in the…
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Pension or Not ?
I am 67 with a Pension and a 22,000 mortgage. My Question is should I pay the Mortgage off using my penison and save my self £600 that I pay every month towards what left of my Mortgage ?
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Cheer Leaders needed on the final stretch
Hi As a regular reader of these threads I need some encouragement of my own. Whether thats keeping track of myself and proving to myself Im doing all I can or others helping me along Single lady on an interest only mortgage coming to an end, the mortgage not me!!!. Don't judge Ive been through difficult times and only…
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6 years of saving so I could take out 35 years of debt.
Started a thread a long way back while I was saving a mortgage deposit with the gf. lost track of keeping it updated so have decided to start a new one now we’ve finally done it! after moving back to my mums for “6months” i finally moved out 6 years later. Oops. so…. We completed in October and are now settled in and…
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Mortgage free in 3 (years)? Lets see!
ooohh this is scary! I am an old timer on the forums which helped me get out of debt way back in 2007-2009 when I first met my husband. Fast forward 18 years (woah!) and here we are in our forever home and I have finally got my husband on board to aim for mortgage freedom. A little bit of context, we have a lovely forever…
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Thinking of paying mortgage off next month
Hi all i currently owe around 46K on my mortgage at 5.2% already paid my 10% penalty free lump sum for this year my early repayment penalty drops to 1% on the 3rd of May i have max holdings in premium bonds at 50k on average this year so far i have won £97 per month so thinking of just cashing them in next month and…
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Minimum loan on mortgage
Just posting to see what others think and more importantly if anyone has done similar before. My husband and I are first time buyers, we intended to buy in cash, but just discovered 10 days before we were meant to complete that to use our LISA’s we needed a mortgage. The GOV website does not say any minimum value for the…
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enforcing an order to remove my name from the mortgage
Hi I'm looking at enforcing a financial order, using the D11. I'm not able to afford a solicitor, so completing it myself. The financial order was submitted in 2017 and re-addressed in 2020, and there is a section that the Ex (Respondent) has not fulfilled, namely to remove me from the joint mortgage, by either sale or…
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Paying mortgage or save
We have been really fortunate to have been left some money so we are looking at paying off mortgage. however my mortgage interest is lower than savings and I have 2 years left. interest 2.79%Redemption about £1400 on mortgage. i know it is sensible to save the money instead but even if we put max £ into ISA’s we will still…
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New year, new goal
Starting a new diary as I didn’t update the old one for a while and it was closed. We had a pretty large mortgage of 395k taken out 7 years ago and I set myself the goal to be mortgage free by 50! My old thread had that title. Anyways to recap - we’ve been diligently chipping away at that and I’m pleased to say that today…
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If you knock me down, I’m gonna get up again!
I’ve decided to start a diary, I’m not aiming to be mortgage free per se, but our life is possibly about to change unrecognisably. Our family is me, Mr Star and Baby Star (14 months). Mr Star has just been told he may be made redundant, he is the main earner in our house and brings in £3,300 a month. He works 4 days a week…
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Opinion on being Mortgage free with 2 x btls?
Hi all, I currently have 2 buy to lets and a residential mortgage which are all up for renewal within the next 12 months, however i'm not sure what to do, so I wanted to ask what you would do in my situation. BTL Property 1, outstanding mortgage balance £235k - value £400k , currently rented at £1700 p/m ,fixed rate ends…
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My Plans of Actions and Dreams
Hi All, I have decided to delete all my posts on this thread.
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Best possible way to pay back mortgage?
Surely these things should be in the open Should I lower the mortgage and then set a limit to overpayment each month Or just pay a set limit each month without an overpayment ? I can see why brokers don't mention these things
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From Flat to Farmhouse
Hello everyone, I am hoping some of you might recognise my name and no, my mission hasn’t changed, I still have lofty ambitions of upgrading from my flat to something a little more spacious. So where were we? Oh yes, paying £400 :eek: a month in interest on my mortgage! I need to start 2016 with a renewed vigour towards my…
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The thriftyish way
Introduction In 2019, DH & I sold our tiny 3-bed semi-detached, and moved into a huge 3-story, 4-bed Edwardian home, almost doubling our mortgage. This move gave us the much-needed space for our 4 children aged 13,11,9 and 7. However, we bought at the absolute top end of our budget and took our mortgage out over 39 years.…
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Only 5 Years left, can I cut it?
Hi All - New here, need inspiration, advice and encouragements please, as I am feeling overwhelmed with money issues. 🙇🏻♀️ Mortgage due to end in 2030. Really want to see if I can race to the end sooner and I want to find the best way forward. Have an old Offset mortgage that I have been overpaying, currently owe 45k and…
