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Balancing the books
Welcome to my diary. This is a diary for many things; paying off the credit card, building up savings pots, starting a small business, paying down the BTL mortgage and saving for retirement. There doesn’t seem to be a natural home for this diary on the forum, as I’m doing a little of everything, but as I have found the…
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Writing off the mortgage
Oh dear, I've already resorted to a punning title, let this be a warning of what is to come... I've been reading MFW diaries for months, finding a lot of inspiration and now I've decided to start my own. A little about me. I'm a mum of three, the youngest child was born in october so a very busy little household. My…
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Monthly OP or annual?
Hi, We are looking to make overpayments on our 16 year mortgage and our interest rate is fixed at 1.99% until September 2021. Realistically we can currently afford OPs of £100 pm. I've been looking through some of the threads, and it seems that it would work out better for us if we put £100 away in our savings account and…
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Halifax mortgage overpayments - not reducing payment OR term
Hello and good morning MSE! FIrst post, I have searched for similar answers before posting! I have a halifax repayment mortgage, taken out in 2007 (pre-financial crash) for 40 years. It was only a cheap property - I was a first time buyer. Over the last 6 months or so I have been making overpayments of around £600 a month…
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Playing with fire
Loooong-term lurker, first-time poster. :hello: There’s me, DW and 2 kids. We have a big mortgage (£238k/£320k on 1.99% until 2023), little savings (£1,800) and some credit card debt (£7k, all on 0%). We also currently have pretty terrible pension savings but I don’t want us (so-called) grown-ups to work beyond 60. Now…
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Anyone with a mortgage from Skipton?
Hi, We currently have a mortgage with Skipton Building Society and the interest is fixed at 1.99% for 3 years. As things stand, we have 16 years before we are MF, but we'd like to reduce this by making overpayments of £100 per month. I realise this isn't much, but we have to be realistic as to what we can afford, and it…
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Mortgage free.
if you really want to be mortgage free don't just consider overpaying . The current interest rate is around the @% mark so any over payments could be invested for growth of over that with ease. hargreaves Lansdown have an ISA that you can choose the funds or they will pick for you. No advice fee and easy to set up funds…
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Paying Lump sum mortgage Through 0% balance transfer fees
Hi, i have Natwest Mortgage and i want to make lump sum mortgage payment to bank. I am planning to use my Amazon credit card to make payment to Natwest for mortgage and then use halifax 0% balance trasnfer fee and rate to pay off Amazon credit card which used for Natwest mortgage lump sum repayment. Any advice if it works…
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New Diary For A New MFW Attitude
We have spent the past few years focusing on the YOLO, as the kids say, and not really making any progress with our mortgage plans so now it is time to get serious! We currently live in the first house that we bought and we want to go from this to our forever home. Our mortgage is a 10 year fixed so we can only overpay 5%…
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Village Lane Mortgage Diary
Hello! Long time lurker to this forum so thought it was time for me to join in with a diary of my own. I'm 31 and engaged and live with my partner in our first home which we purchased two years ago. We bought our house for 153k and I love it. It's nothing fancy and it's pretty small but making it a home without spending a…
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To pay bills weekly, monthly or yearly with offset mortgage?
Hi, I have an offset mortgage and was wondering is it better for me to pay things such as council tax on a weekly, monthly or yearly basis to give the most interest/savings on mortgage interest or does it not matter? To me it seems paying things yearly would be better as it leaves all the cash against the mortgage for a…
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Another mortgage free wannabe diary :)
So I just checked and I originally signed up to MSE Forums back in 2008! Back then I was looking to be debt free, which I managed in 2012. There’s a lot that’s happened since then and my current situation is as follows: Married in 2015 H born Sept 2017 B due Aug 2019 Brought our house in 2014 for £205,000 Have £135,583.83…
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Lois_E begins a long MFW journey
Hello everyone. I've been lurking on here a little while and decided now was the time to join. You all seem so encouraging. I'm not sure how much of a challenge to set myself, so I'm going to begin with a mini challenge: keep a spending diary for the whole of May. I'll set a proper mortgage OP challenge after that, when…
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£170000 in 10 years
hi first post on mortgage free wannabe site -i have a £170000 mortgage on a house valued at around £230000 we have an interest only mortgage on £155000 and repayments on the other £15000 paying £676 a month total mortgage we are paying 3.88%variable rate.We received a small inheritance that we used to pay a lump sum off of…
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The Goal Mortgage free at 40
Hi all thought I would jump on the band wagon and get this debt paid off earlier . Current situation I am 32 years old and currently have a mortgage outstanding of just over 129k on my 210k house. ideally i want to be mortgage free before I turn the big 40 which I know would be extremely difficult Current mortgage details:…
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ok lets start this mortgage free journey
Hi all having been a browser since 2007 finally time to start this mortgage free journey! i know i know why didn't i start much sooner. mortgage 1 £61000 3.99% svr currently paying £443.00 per month overpaying £200.00 per month mortgage 2 £84000 2.74% svr tracking base rate paying per month £710.00 any help support…
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Anxious First Time Buyer
Hi everyone! Currently looking at acquiring my first home and I'm torn between choosing with my head or my heart. I currently have £30k saved up as a deposit for a 2 bed property but the prices vary wildly. I tend to side with cheaper options (as I can pay them off quickly) and expensive options (as I would see them as a…
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Pay off House or Buy to Let
Hi folks, wonder if you might be able to help me. I'm 31, engaged and into the second year of the mortgage on our first property ( 153k) We've been overpaying and have got our LTV down to 73% I work in the arts and earn £23k a year, my partner earns closer to 40 pre tax. Although I've never earned much, I've been a saver…
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What is the risk of buying house with Natural ground subsidence - Moderate - high level?
Hey! I'm in the process to buy a house. All the searches have been just made. The report shows that Natural ground subsidence is on Moderate-high level. Please, see on the attached image below. Is that something which I should consider? Should I make structural searches (which cost £800). Should I directly try to get a…
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Adding value before making over payments
I’ve spent a couple of weeks lurking around other people’s diaries so thought starting my own might help me (and in turn my partner) stay on track with reducing outgoings and saving money. Our situation is somewhat different to most of you that post on this board. Currently, we don’t make over payments on the mortgage,…
