Mortgage-free wannabe

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

Hi. sorry if this has been asked before. but if I owe 100000 on my mortgage and pay 500 per month and wish to make an overpayment of 200 per month what happens to future payments and the balance of my account. nationwide website says this, but. don't understand what it means How overpayments work We calculate the interest…

So my mortgage is £140000 I only took it out last month and already paid off £10k( I have posted about this already but this is a different question so bare with me.) The rules are I can make overpayments in year 1 of 10% of the original loan so £14k In year 2 I can do the same. I'm with Nationwide and when I called them a…

I have decided to complete a diary in order for me to stay on track & to keep me motivated :) I am starting early with my over payments as only just completed - you guys must be rubbing off on me! Lol! STARTING FIGURES Date: 23.08.2018 Mortgage:£121,500 Term - 25 year /5 year fix Goal - pay off mortgage in 10 years -…

Good morning, After some advice please. Due to an end of work contract bonus and receiving 4 months pay in one go, I am about to receive about £20,000. I have £4,500 on a credit card which I will pay off immediately, otherwise I have no debts (minus student loan). I currently make overpayments on my mortgage and have done…

Hi everyone. Would love some input on something I can’t get my head around. I am currently looking to remortgage and looking at a repayment of 844 per month over 23 years. We are lucky enough to be able (and looking to) overpay up to £1000 (total). So this would pay £150 per month towards the debt. But....... this is where…

Hi. I'd appreciate your advice. Options are overpay mortgage by £300 a month where interest rate is 1.99% or; Put £300 a month in to a regular saver where interest rate is 5% (and use lump sum to overpay mortgage at end of 12 months) What do you think?