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Littlefred's bid for mortgage freedom!
A seriously long time lurker here who has finally decided to give this diary malarkey a go! I'm 27 and its me and my 2 cats in the house and I see this staying this was for the foreseeable future! I bought my house in July 2009 with the mortgage of £103000 finishing in July 2034 and a loan from the bank of mum and dad as…
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Famof3's 10 year Challenge
Hi everyone, I've been a long long long time reader of this forum and also the Debt free forum. I have to admit it makes me feel uncomfortable to talk about finances, but i'm hoping that writing this thread and keeping track of my journey will help me open up a bit and help me keep on track of my journey as well as getting…
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The Crumpet family's journey to Mortgage Freedom:-)
Hi there, Long time lurker here, I've been inspired by so many diaries on here that I thought I'd start my own. After just spending an exhausting half hour working out this months Morgage overpayment on the very complicated financial system we have in our house, I thought a diary might help me to organise my thoughts…
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Mortgage or Pension
I am paying extra on my mortgage by doing this will finish by September 2020. But I am thinking stop paying extra that would be about £800.00 per month and putting in the £800.00 plus more funds into my pension pot. The reason this would take my income below 40% income tax freshhold keeping me under £463500.00 every pound…
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Long term MFW - 3 year starter plan
Hello everyone, I'm a longtime lurker on this forum, after reviewing the bank accounts today I've finally decided to stop procrastinating and start a diary :j So, basics first, our household consists of me, my BF, a greyhound, a cat and 2 chickens who think they're in charge...we are definitely done for pets now! This is…
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Time to clear my only debt, the mortgage
Hello, I am long time lurker to these forums, and funnily enough the only other time i posted was about 5 years ago when i was concerned about getting a mortgage. Alot has happened in those 5 years. -I managed to negotiate a reduced rate on a 3 bedroom semi to 117k on a house that is now worth well over 160k as it needed…
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Let the Adventure Begin
23rd August - Completion day Is it crazy that I feel genuinely excited to finally have a mortgage that I can start overpaying? MrMFW(2) and I somehow managed to get a deposit together on a £105,000 one bed flat (share of freehold) in sunny Wales with a 95% mortgage at a rate of 3.71% fixed for two years (shockingly high I…
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My blog
Hi guys, I created a mortgage free diary on here last week and I cannot find it, can anyone help me?
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Mortgage Free
Everyone, I paid of my 125k mortgage 4 years ago aged 44, it was my main priority, I'm the main breadwinner in family of 4, housewife don't work. I work in IT which is a fickle industry, over 40 means you're over the hill, so i was very target driven plus i wanted to get to a stage where i have the upper hand in…
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Do banks really want us to stay in debt?
So, I have received a reminder, to start looking at renewing my mortgage deal before the current one runs out. It was a 2 year term, which is up in August, so plenty time to go get! I'm looking through the options, and as much as I would like to overpay/shorten the mortgage, it doesn't make much financial sense! If I…
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Melbourne Mortgage
Hi all I've been on and off MSE since 2006. In that time I have moved to Australia, completed a degree, and got a job in a field that I love. We purchased a house 5 years ago in a lovely part of Melbourne, Aus that needed quite a bit of work on it, and we are now half way through that. One OH, two DDs and one dog in the…
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Charge release--Scotland mortgage
Hi folks hope someone can advise. I recently paid off my First Direct mortgage and they have advised that I need to contact a solicitor for a "charge release". I am in Scotland Can anyone advise of approx cost or is this something that I can complete myself Thanks
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Paying off mortgage on flat
Hello, I have a general mortgage/investment query. I bought a leasehold one-bedroom flat in an outer-London borough in 2015 for £201,500. It has served me well for the past few years (as it provides a reasonably short commute to work), however, it is quite small and I can’t really see myself living there beyond another…
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First post, however one year in.....
Hi All, I would like nothing more then to become mortgage free, I bought my property for £108,000 with a deposit of £50,000 leaving £58,000 mortgage plus fees. By the end of 2017 I owed £57273.88 For a large part of 2018 I have overpaid I have just received confirmation that I now owe: £54400 wahoo! or YIKES! Using Martins…
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First step, in the long road to being mortgage free.
We bought our first house in July 2010, and being intially quite clueless about buying a house this forum was quite useful in helping me out. It was reading this forum that gave me the idea of being mortgage free, so I thought this would be a good place to keep a record. From the even before buying the house, the idea was…
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The Fun Starts Here.....
Hi! I've been reading some of your inspiring MFW diaries and I thought I'd start my own, to keep me on track. My husband and I have just bought our house, first mortgage payment due on 25th April. The mortgage is £115000 over 14 years but we'd like to pay it off much sooner if we can. Our initial plan is to make regular…
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Managing The Mortgages
At the beginning of my journey on this site I was a DFW and now we have grown up and see money in a whole new light, making much better decisions. :j Now you can see from our signature that we do have 2 loans but they are from family members and as such have no interest on them. And I should point out that these loans were…
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WWYD brexit/mortgage
My husband has been told by his colleagues that everyone should be locking themselves into a good mortgage deal ahead of Brexit. Now I can't massively argue with this advice for the average homeowner but we (mainly me) have been MFWers for the last 4 years. We've paid off £40k (in under 4 years) whilst only earning £50k…
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Pay Off Credit Card or Overpay Mortgage?
I have just arranged a new 5 year fixed mortgage with Santander at 2.19% with 103,400 to pay and 16 years and 6 months remaining. I’m overpaying by £100 and this will reduce the term by 2 years and six months. I have a 0% credit card with a balance of £2,200 with 16 months left until the 0% ends. This may seem like a silly…
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Thoughts on overpaying
Hello Forums, Would like to get some thoughts / ideas on the below situation and how the GF & I can begin to overpay our mortgage as soon as possible. Situation: We bought our first house in summer 2018. We paid 15% deposit and were able to get a 2 year fix at 1.7%. I am keen for us to overpay the mortgage in the remaining…
