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FSCS protection with offset mortgages
Hello, I'm considering an offset mortgage, does anyone have any information about what happens if your savings cross the FSCS threshold and the bank goes bust? Do you lose the difference or are you ultimately not at a loss should this situation arise? Thanks.
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Plans for a Sea View
Hi All, I've been reading peoples diaries for a while now and thought it was time to start my own, mainly just for my own ramblings. I'm in my mid 30's (feeling 21 still even if I don't look it LOL), mum to DD who is 9 and DD who is 3, and been with DH for many many years and married for nearly 6yrs. Our mortgage is…
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On my way!
Hi all I've recently found this forum, but have been wanting to finish my mortgage early for ages! I started my 25-year mortgage back in 2003. So, expected to finish in 2028. I bought my first house near the height of the property boom in 2003, using a fixed rate mortgage. My plan was to stay for 5-years and then move-up…
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S&s ISa or pay into offset mortgage...I can’t fathom which is better....
Hi all, I have about £200k to pay on my mortgage, it’s on offset interest only, so I put £1000 a month against that. It’s ISA time, and I don’t know what to do...I’ve only been putting money into Ida’s for 2 years so only have about 60k (mine and wife’s)....I’ve got £20k from saving super hard this year, should i ISA it or…
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Advice on tracking overpayments and spreadsheets
A question for the more experienced MFW’s that have been here a lot longer than me. I have a spreadsheet that I use to record daily interest, mortgage balance each month, interest paid and balance reduction. Now I’m making mortgage overpayments and keeping a record how do I work out interest saved, cumulative interest…
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Jumping on the MF train
Hello everyone! Been a lurker on here a while and reading all the diarys it really has motivated us to get our finger out and tackle our mortgage. We got married and moved into our first house last year so things were a bit hectic money wise. We are both 30 y/o and 1 year into a 25 year mortgage with the balance currently…
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What are implications of reducing term on mortgage
I have made some overpayments recently (after investing my risk appetite worth under S&S ISAs). I am also a 6-7 months away from end of my fixed term period. Remortgage will give me a lower fixed term interest rate than what I am paying currently.. I am thinking whether to reduce mortgage term so that new fixed deal would…
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And now the fuse is lit...
Well... I have a house. And a mortgage. Took years and cost a fortune, as Batman said once. Don't talk to me about surveys (though this one at "so so" was better than many). Or surveyors (I wouldn't use this one again - seemed scared of ladders). Or vendors (though this one was great). Or estate agents (this one was truly…
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Stewby's Second Start.
Good evening. So... I was here a few years ago and everything was a bit messed up (finances and me) so I paid off my credit card and then started looking at the mortgage. Then I gave up as everything was getting a bit much... but I'm back. So, here it is.... Stewby's Second Start. So... finances are a lot more stable. OH…
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Make Me Mortgage-Free!
I’ve always enjoyed reading these - so here‘s my Mortgage Free Wannabe diary. I’m 36 and married with (recently) two children. DW and I have just confirmed the second re-mortgage of our house – bought in March 2015 for £230,500. Remortgaging to Santander in 2017 gave us a nice boost in equity, when it was valued at…
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Just kept going!
So I became mortgage free a few years ago through consistently over-paying what I owed. After I paid off the mortgage I said I was going to start just enjoying the fact I didn't have any debt repayments to make. May be it's just a hard habit to break but I am now mortgage free and for the first time this month have a six…
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5 year mortgage overpayment plan - first step towards MFWb55
I first joined this forum with quite a bit of debt and a target to be debt free by 35 (hence the username). Lots of things happened since then, it was quite a journey and now I'm back with the ultimate aim to be mortgage free by 55! Being on the dfw boards has really changed my whole attitude to money and was a major turn…
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Huge mortgage - ahhhhhgh!
Hi all, We have recently bought a house - house value a whooping £600,000 and a £300,000 mortgage. This is a huge house and the idea is that it is our forever house. It needs work though - it's cold and not nice aesthetically inside. We moved from a lovely house a year an a half ago and had no mortgage - it was just a bit…
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My New Frugal Life
Hi all, I used to post quite a bit under a different name on DFW forum but have lost my log in, also my situation changed dramatically so I'm taking this opportunity to create a fresh new log in and start my new frugal life :wave: I will be back with a quick intro and my plans a little bit later on :money:
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Baby steps towards mortgage freedom
Hello Everyone :j After lurking for around the last two years and being inspired by so many other diaries I thought it was about time to start my own. Me and DH are both 27 and this is the fourth house we have lived in - in fact it was the only one we ever had to re-mortgage as we managed to stay put until the initial fix…
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Eagerlearners journey to Terminate the mortgage
Hello everyone :j:j:j I read the diaries here with interest and they are so motivating, I thought I would start one of my own and see where the journey leads me. I am 42, married and we have a little boy and a cat. We live in the south so it's expensive, but I can't see wanting to move away anytime soon, so our mortgage…
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Would love to be mortgage free ...
Hi all, we've been in our house for 20 years ..... but kids, caravans, house extensions, life generally has stopped us from paying off the mortgage. We are on an excellent mortgage rate at the moment, couldn't possibly beat it I doubt, 0.79% tracker for life..... I think we owe about £65,000 as of now. It's coming down…
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All I want to be...is Free!
I've never posted on a forum before so please bear with me. I bought my flat in 2010. I took a £66k mortgage and a 0% £15k loan from my parents. I also have my student loan to repay £5k left. My goal is to have all these debts paid by Dec 2018. Or at least have enough money in savings to be able to pay off all these debts…
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More Bangs for Our Bucks - Part 2
Having cleared our mortgage a couple of years ago, I’ve now found my way back to this forum as we’re just about to undertake another £62,000 (re-) mortgage to help pay for some major home improvements. I found contributing to the forum the first time around, hugely beneficial – as well as picking up various tips, it…
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Overpayment advice - where to target first.
My wife and I have been in a fortunate position for some time that we have been able to save £1,500 per month. We've amassed the equivalent of 6 months in wages for us both / one person's salary. We both are about to get significant pay rises in April, we really want advice of what to do next. We have the following…
