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Legality of temporary dwelling living?
Have often daydreamed about the prospect of living in a caravan or similar temporary dwelling on a bit of land bought outright like a cabin rather than spending decades paying the bank back for a mortgage. I was shocked to discover that this is illegal in the UK and you'd need planning permission for pretty much anything.…
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So close to being mortgage free!!
I took out a 5 year fix with Nationwide in November and a matter of weeks later I inherited some money and these funds are now in my bank and can clear the mortgage. I've had a quote from Nationwide for this, but it includes 100% of the interest over the rest of the term! This year I've made the max overpayments I can…
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Best put on my big girl pants! my saving for a deposit diary
My diary to debt free and saving for a deposit by 35 .*updated feb 2018 - aim to be homeowners by if not hopefully before 30* we aim to save 25k before even going to the bank for a dip current age 25 . current financal status . trying but not trying hard enough . in debt with hardly a pot to wee in ... it has to change ...…
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Mortgage repayment advice...please
Hi all I would greatly appreciated some advice with regards to overpaying my mortgage, with the aim being to clear it completely as quickly as possible. Situation Current mortgage outstanding- £93000 Term 23 years exactly Fixed at 2.09% for another 2 years Monthly standard payment £450 but currently overpaying from salary…
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no longer a wannabe
We have just the exit fee to pay now :) Light bulb moment was about 6 years ago when i realised just how much interest a mortgage costs. A few calculations and the wonderful wife was on board - she controls the finances :) . We have reduced the 25 year term on a ~130k mortgage to just 10 years. We are now in our forever…
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Dreaming of a 10yr Mortgage...
Hi Everyone! I've been on here looking at peoples tips and advice whilst i got bought out of a house owned with my ex and my new purchase went through...longest year of my life! I now have a mortgage of £100,800. It is on a 35 year term as at the time we weren't sure if i'd have to sell the other house and this was the…
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Advice please
Hiya just after some thoughts/ advice My mum is gifting me 150k. I plan to put 50k split between children's savings/ emergency fund/ debt repayment and home improvement. Bit of background- I currently live with my partner (30k salary) and myself (45k salary). We have a 4-year-old and one on the way. We own a property worth…
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Petroni's big fat financially responsible mortgaging
Hello everyone, Here to join the journey to a mortgage free future after reading through loads of other people's diaries and witnessing the achievements of the members of this forum. My boyfriend of 8 years and I discussed late last year that we need to be more financially sensible and channel our earnings to good use,…
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Mortgage free & buying property
Hi, First of all I will give you a bit of info about me I am 27 and we have bought our first house over a year ago, we have done it up and looking to add about 15-20k on it. Our mortgage is for 35 years (now 34) and we are overpaying £100 a month. We have over £300 spare a month after all bills have come out. Do I pay off…
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Mortgage or Pension Pot?
Hi I'm looking for general advice here or perhaps an authoritative article that covers the issue. I'm 73, retired and comfortable living on a company pension and State pension. My wife and I have an outstanding mortgage of £100,000 with the term coming to an end in November. We're now looking for a new mortgage to pay off…
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The Financial Adventures of VelvetFreak
Hello Friends :D I recently became debt free 'cept the mortgage, so I thought it was time for a new diary. If you would like to read my debt free diary, it can be found here. https://forums.moneysavingexpert.com/discussion/5610244 Long story short, I borrowed $8000 from my mum to assist with the downpayment to purchase of…
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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…
