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Is it worth overpay 10% mortgage allowance?
Hello, I'd like to ask if it's worth to overpay 10% mortgage or you are better off with investing in a active/passive fund? I read so many arguments against both those options.
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Mortgage Free - Sort of !
A bit about myself 43 yrs old, Married both in good jobs (20 and 10 years service in each) and reasonably well paid 2 kids (9 and 5) I have an offset mortgage which is £ 65K oweing but I am fully offset and therefore don't pay a penny in interest. Am I classed as mortgage free or a wannabe ? I draw down the payments made…
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Pay it off with overpayment fee or pay of gradually?
We're in the very fortunate situation to be able to either payoff our outstanding morgage in full, however if we do that, we'd face a very 5% early repayment penalty. I've spend a long time looking at overpayment recalculators but I can't really work out if it's better to overpay at the beginning of each year the maximum…
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Eating the Frog
Hi all, I've lurked on and off for many years and seen some great successes and think now is a good time to write down my thoughts and let you all hold me to account. So a bit about me, there is me (35) oh (40) son (4) and daughter (1) in our little family. While childcare is expensive I don't find the day to day living…
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Using BTL to pay of mortgage ?
Hi, I could really do with some sensible advise. I have been left 120K. The person who left it to me was a real entrepreneur and would want me to do something clever with the money. From my research it would seem the sensible thing to do would be to pay off the mortgage debt......but I am wondering if there is some way I…
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Mortgage Overpayments - How Small or Large?
Hi, After reading the posts on here I've begun making small overpayments on my mortgage when I can, but wondered,what are the smallest payments people on here make at any one time? Do you put money into a savings account and let it build up to a sizeable sum first, or do you pay small sums directly off the mortgage? Jx
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Time to stop procrastinating!
Afternoon All, I hope you don't mind me joining on this thread. A little about me, first marriage 1992 - 2005, second marriage 2010 and going strong! :D . 2 adult children, eldest DD 20 and in second year of Uni and youngest DD 18 just started an apprenticeship both of whom still live at home but eldest DD leaving in…
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Parking Eye £100 Fine - Welcome Break Warwick South
Hi All, Surprised to get this in the post yesterday - have done some googling and it looks like I can use lack of signage and identity of the owner as reasons to cancel this? can someone tell me if this is correct? Below is a photo of the exact spot where I parked (from 4:09am to 8:59am on 31/12/17 - I was driving from…
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Jonny20222 diary to a MF life
Hello all Like many of the diary's I've read, I've floated around the forums for a while inspired by your stories and wanted to tell my own. Mainly to keep myself motivated and on track but also maybe a couple of you might find my story an inspiration in years to come. A tiny bit about me.. I'm 30 and live with my partner.…
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A treehouse for the twins
I am so excited to write the first post of my mortgage-free diary! Some of you may have seen me around the MFW boards. I only post every now and then but reading the boards has become part of my daily routine and I am subscribed to many MFW diaries. I have wanted to start this journey even before we bought our first house…
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2017 mfw
Welcome to the Mortgage Free Wannabe thread for 2017 :D Many thanks to Lomcevak for running the thread the past few years. I've blatantly stolen the starting post from 2016's thread. ;) 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…
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South Coast Mortgage
I've recently discovered this site and this forum, a great source of inspiration and helpful to know I am not the only one with a large mortgage. I guess I am posting as I've spent the best part of a year saving for a move from the Midlands to the South, have now moved and am now somewhat freaked out by the amount of…
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Mortgage-free for us 3
Hi all, I've been lurking on the forums for a few months now. I finally bit the bullet and made myself an account, but it's taken me a few days to get round to starting my MFW diary. I will post an SOA tomorrow or Saturday, depending on how busy my DD keeps me. :D For now, I'll start with a brief bit about myself and plans…
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Something to aim for
Hi all, I've been a MFW for a while now, and often browse this board for inspiration. There are some v good ideas on here! I've been overpaying for years just by increasing my monthly DD, and have sometimes had an extra push to take more off the balance each month, but never sustained it. However, life has got complicated,…
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New forever home, new focus!
Well, what a year it has been.....we sold my house to first time buyers eager to move in, so we moved into rented at the beginning of the summer. Our new house was scheduled to be finished in August so we put our stuff in storage, packed a suitcase of summer clothes and wished our purchasers all the best in their new…
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The Smith Clan - Mortgage free in Germany
On and off I have been making attemps to trying to pay off the mortgage early. We kept falling off the bandwagon. I am getting frustrated with myself, as the mortgages and the renovation credits are the only "debts" we have. Mr. Egon76 is partly on board. He likes the idea of paying off the mortgage early - but doesn't…
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How/when do you overpay?
All being well, we'll move into our first purchased home next month. We've got a 95% mortgage at a reasonable interest rate on a 5yr fix, and I'm already thinking about overpaying. In an ideal world, we'd like to get lower LTV when we remortgage in 5 years to get the best rate we can. We do need to build up savings (we…
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Credit card or mortgage
I’m looking to purchase a house following the sale of our home which will have paid off our current mortgage . I will only need 10-20k to purchase the home I want, I would also like to pay this off as quickly as possible (3-4 years) My question is - am I better taking a small mortgage or putting it on a credit card with 0%…
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Mortgage Meanderings
Hi everyone, I've been on this forum as a lurker for a long time...when I tried to register recently, my email was apparently already in use - when I eventually got into that account I had a 7-year membership award! No recollection of setting that up! I've decided to set up a diary to document my mortgage-free journey, as…
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Mortgage free by 53
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