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How do I work out how many payments I have remaining?
So I have been making overpayments. We’ve recently had a payment revision notice come through as I think they are reducing the amount we pay monthly to keep the term the same (but we will just pay what we were anyway, but could stop if we needed to) Is there a way to calculate how many payments I have left? I assume I need…
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FT Mortgage - Lump sum early repayment - Help needed
Hi people I recently purchased my first property at the age of 28. The purchase price was £199,950. I deposited 20% with a borrowing of £159,950. I have a 2 year fixed rate deal at 2.34%. My monthly repayments are approx £704 with my first repayment being higher. I have the option to make 20% overpayment on the outstanding…
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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…
