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I wanna be mortgage freeeee!
Hi folks I’m a long time lurker coming out of the shadows as our circumstances now mean that we have a real shot of getting rid of the mortgage early. Me and my husband were both made redundant in January. I found a job straight away and my husband has found one and starts early May. We got a pot of money from redundancy…
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Snug & Sorted: Our Race to Mortgage Freedom
Hello - welcome to my shiny new diary! I've refreshed this first post as of March 2025. Timeline so far: * First home in 2017, paid down mortgage from 228k 169k, thanks to the lovely support from people here and keeping up with a diary * Moved into forever home early 2024, mortgage now £295k!!!! * Lost any momentum over…
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Don't want to do this job for ever
So I am a couple of months into having my mortgage now and on the whole really like my house and realistically wouldn't need to move for many many years. I don't enjoy my job however and at the age of 35 don't want to be doing it for the rest of my working life. So the plan is to pay off this house whilst still having a…
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Mortgage Paid Off and Impact on Credit Rating
I find this very odd. I paid my mortgage off last month....and now my Equifax credit rating has taken an unprecedented hit because of it. I have zero other debts. It doesn't really matter, my rating would still be plenty high enough if I needed to use it....and I sort of get that if I'm not paying a mortgage off then there…
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I dunno if I'm a wannabee! Quite comfortable - what to do for the best, lump sum vs mortgage
I have a £600k home with £180k mortgage, and a £600k BTL with a £125K mortgage, and a lump sum of £150k. It may all just be down to personal preference, no 'best plan' as such - do I pay off as much BTL mortgage as I can, or just enjoy my lump sum. If I pay off the BTL, I'd get that money back when it sells anyway, it's…
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Mortgage Overpayment Advice Needed
Hello, I'm looking for some advice on overpayments. We have a large mortgage,
but over the course of the next year we will receive money we inherited that
will enable us to repay it completely. Probate and sale of assets mean
this will probably take 6-9 months. We will inherit a sizeable amount from cash assets very…
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Beating Lifestyle Inflation and Staying Mortgage Free!
I can't find my old thread, and it wasn't really mine anyway as I had to change my username recently! My not very catchy title says it all :smile: I will be writing about how I keep our money and lifestyle on track. I'm rubbish at budgeting and we became mortgage free on our little house, and then later again on our…
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Posting for motivation!
Really want to retire in 6 years. Mortgage being paid off is the determining factor so trying to throw everything at it! Current balance £188,723 Basic payment: £1437 Fixed overpayment:£500 Additional payment this month: £500 so far.
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Paying down the mortgage
I am trying to get back into the swing of noting any overpayments to the mortgage after we remortgaged this month. I have consistently overpayed the mortgage, a set amount of £105 a month for a while as standard. This time, we remortgaged to 22years, after extending to 30years, to make the mortgage more affordable due to…
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My Five Year Focused, Frugal and Fun Challenge
Hello all :) it has been a long time since I posted on here and a lot has changed. I'm now single and bought my new home last year. It needs a lot of work but after the next couple of jobs are done I’m having a break from doing anything else so I can focus on paying the mortgage off. I wouldn’t book any of the people again…
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Pay off mortgage or save
Hi Currently have 21, 000 left of mortgage to pay at 3.44% this interest rate ends oct 2027 and the remaining term is 3 years 4 months. We pay £576 a month and have been paying over payments too, We have a fixed isa that finishes next month and will cover that amount with a little change, is this the best thing to do??? We…
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I can't say this in real life...
Because few have this privilege... I couldn't even say this to my best of friends. Or even my Mum! But I paid off my mortgage yesterday after ten years aged 43, just me. It's "only" a 2 bed flat, but it's mine. I rented out the master bedroom / ensuite available to a lodger all this time (bar a break for the pandemic), and…
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Mortgage - Pay off or wait? Invest?
Hi all, New here, so please be kind! I'm useless with money and savings and looking around has my mind very confused to say the least. So many factors around ISA, Savings, Interest, Tax etc etc. So I'm playing dumb and hoping for some very simple answers. Long story short; My wife was diagnosed with cancer over 6 years…
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Mortgage overpayment
Hi all Can you makes sense of this for me coz numbers and I don’t go together. 😂 We are due to remortgage end of December. We will owe £290k. We have £50k savings so are going to pay that off so we need to now borrow £240k. I’ve been on a mortgage calculator and I can’t understand Why in 5 years time the balance we will…
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Countdown to Freedom
A new diary as we enter the last two months of 2011. I have been lurking for almost a year and have found so many of you inspirational, particularly Billy, Michelle, Radish, and Museum Worker. A bit of background I am married to a great man, two kids who are growing up too quickly, two cats and a dog! Never a dull moment…
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Mortgage free wannabe - haven't bought our house yet!
We have owned houses before but moved location and are currently renting. We have had an offer accepted on a property and I'm trying to decide on a mortgage term that will help us in our quest to be mortgage free (ideally before my oldest child starts university in 9 years time). We are borrowing quite a bit less than the…
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Aiming to be mortgage free before I am 62!
It feels very bizarre to be starting a mortgage free wannabe diary! I (and we when I was part of a we!) have always been a bit of a on off rollercoaster between paying off debt and creating more debt! I can’t really put much of a potted history of my finances together as I don’t really know how things built so much or how…
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A Better View 🌄
Hello Forumites 😊 here I am again with a new diary for the new chapter we're embarking upon. For those who haven't met me before, here's a quick summary of our journey so far: * I joined the forum 11 years ago. Mr F and I had bought our first house together 9 years earlier and life was very full on. We decided to pay off…
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I'll health and perspectives
Hi all I've wanted to pay off the house for a long time and we have been working towards paying odd our credit cards which will be done by September October time. After that we did have plan to go on a city break which I think still is the plan.. In the last week I gave had a heart attack and it's really put things in…
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MFW: Next step towards total freedom!
I've been a long time lurker and finally decided to start my own diary. My current repayment mortgage of £106,895 was taken out in December 2010 over 25 years at 3.54% (2 year tracker). [EDIT/SPOILER ALERT: This later grew to £169,000 in December 2012 with a new 25 year term due to unexpectedly moving house!]. I became…
