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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…
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The mindful MFW: A healthy, happy journey to a mortgage free life!
Hi all! Some of you may know me from my last two diaries (museumworkers quest to consign the mortgage to history and Making the Future Happen). A lot DID happen during my last diary, mostly things that threw me off the MFW course, including an unexpected (but much loved) third child and a new full time job! These are both…
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Mortgage free plan in action, but what next?
Hello We are a couple living abroad with consent to lease on our small flat in London. As we are leasing we are tied to our interest rate and cannot remortgage. The rate is 4.25%. We have 90k left on the mortgage which we should be able to pay off in full within 2 years as we have good salaries and little outgoings here.…
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Finding the right mix.......
Hi, welcome, settle down! I'm starting this diary to help me question and decide small and large events to fit with my short and long term financial goals. To be totally upfront from the start, I'm not here to pay down my mortgage the quickest I can, I want balance. I love reading diaries of people who are really committed…
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Milestone reached - More than half monthly payment paying off capital
Hi, I wouldn't describe myself as a MfW, more of a Mortgage free Wannabe Wannabe! Would love to be mortgage free, but just have other priorities right now. But in going through our files last night I realised that, as of about 2 months ago, we've reached the milestone where over half of our monthly mortgage payment is…
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Dairy of a FTB!
Hi all! I've decided to add my own diary to the thread as a method of self-motivation! Me and my husband are about to complete on our first home.We are buying for £310,000 with an 11% deposit - our total mortgage is £276,899. This seems huge but we are close to central London and this is a ground floor, 2 bedroom property…
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Ready, Set, Go - April 2013 Iquit MFW Diary
I am now able to make a start on this MFW journey, something I've been longing to do for a long time. Thanks to reading diaries on here I am more informed and motivated to start chipping away at my mortgage. I am open to any suggestions that are made and am keen to learn more, so please feel free to chip in :money::money:…
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2018 Mortgage-Free Wannabes
Welcome to the Mortgage Free Wannabe thread for 2018 :D Mortgages can seem so huge and long-lived that it often feels pointless to make over-payments - what's the point in paying £50 off a £100k mortgage? But even small overpayments have a dramatic effect; that £50 extra a month would cut almost four years and £10k of…
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Mortgage advice
Hi everyone, I need some advice please. I have a £41000 mortgage on a svr with 9 years and 5 months remaining. I have contacted my lender and they have offered a 3 year fixed rate of 1.99. If I went for this my current monthly repayments would change from £456/ month to ££400. I could comfortably overpay by £100? / month.…
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Pay it off in one go or stick to monthly?
Hi Looking for some advice. I have a £114k mortgage and about to get some money which could mean I could clear this amount in one go. I have a fixed rate at 2.59% for 10 years (7 left) so there is a penalty for paying off early but when compared with the savings on interest means it's still worth doing for a saving of…
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Paying off the mortgage... in five years?!?!?!
At work we would call this a 'stretch goal' so I think I'm going to need some help. :eek: On paper it's doable but I fritter away soooo much money so I'm hoping that having a place to be accountable will keep me on track. I've got £84,500ish left to pay off on my cozy, little flat and according to the nice people at the…
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Time to get serious
Hello Everyone :wave: I have been reading this forum for quite a while now. There have been many mentions that a diary has helped many of you with your goals, so I'm here to join in and knuckle down. My oustanding mortgage is very small, that is not the real challenge! This year the mortgage will be gone, however we are…
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£200 pcm into 5% saving account, or to mortgage over payment?
Santander take £200 a month for a saving account with 5% interest. If I put that money to mortgage overpayment it'll save me £81K of interest (only) payments over 23yrs. Is the overpaying option the best? Mortgage is £281866, 3.2% interest.
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Overpayments to end mortgage-help with numbers
I need some help number crunching overpayments so that I do not breach 20% of overpayment allowance per year on outstanding balance. Would anyone be so kind and help? Starting off with 85K in view to end mortgage. 9year term at present but looking for new deal. I'll probably renew with current provider. Their rate is 2.06%…
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deleted as no longer relevant - sorry
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A Budgeteer's Adventure
Hello all I've been writing my mortgage free wannabe plans down in a book for a while now but decided to join this forum to help my focus a bit more and hopefully benefit from being cheered on :j and being told off :naughty: when i need to be ;) - plus my handwriting isn't that neat :rotfl: A bit about me - there's just me…
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The ups, downs, and occasional sideways bits of trying to be mortgage free
Hello! I used to loiter around here a few years ago and you were all terribly friendly. Then I was made redundant, started my own business, and it's all been a bit uppy and downy since then. We've been meandering along for the past three years, since taking on a new mortgage in 2014, paying things as they come up and…
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Minnie Mortgage Wannabe
Hello :j I have read many, many DF diaries over the years and have recently started to read some MF diaries. They are so inspirational and fascinating to read. After several years reading other people's diaries I am going to start my own diary. I very luckily don't have any debt but I also currently don't have a mortgage…
