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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…
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Aiming for 1200 overpayment this year
In August I remortgaged on to a better interest rate with the same company and they let me keep my repayments the same. This cut my mortgaged life from 19 years to 17 years. So I thought if I started some overpayments then I could reduce this further. I'm otherwise debt free and currently put away £600 in saving a month…
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Countdown to 60
Well, I was last a regular poster on here about 7 years ago when I had a tiny mortgage and a tiny home. Since then I've got a new job, extended my home, met my partner and am about to move in with him. I have a two part mortgage of M1 £148k and M2 - 11.5k, and a credit card of £3.5k. I've cleared £6.5K of card and aim to…
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Mortgage application planning advice
Sorry wrong board see Mortgage and Endowment Board
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Nearly finished
Hi Sorting out my mortgage should be done soon repayment mortgage with £4313 outstanding got my payments fixed £224 have been overpaying £100 -£200 p/m as well on nationwide bmr(allowed to overpay £500 p/m on product). I have £25k as overpayment. What do people do completely pay off ? Keep a nominal sum so can borrow back…
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#dreamer - mortgage free maybe
Hi all So stumbled across this forum today and I have spent a good few hours reading threads! Looking at the old ones from 5/6 years back and then flicking to the end page to see where and what happened to the present day. It has provided me with inspiration! My plans, I have a few, not sure what is do able as yet so just…
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Budget allocation
So the general consensus is that roughly spend/save/house should be roughly 1/3 of your monthly income? We are roughly 39%/25%/36% at the moment. We knew we were stretching ourselves when we bought the house and the balance is slowly returning through overpaying. At the moment annual costs like car insurance/tax (1 car)…
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Looking beyond mortgage-free
Hello all This is the first time I’ve done a post here so sorry if it’s in the wrong place! Long time reader of the website and forums, just resurrected a long forgotten user account to ask this question ! My OH and I have been overpaying on the mortgage for the last 5-7 years (got it in 2009), putting every extra bit of…
