-
Single Parent with Mortgage
Hi, I'm 53 with two children aged 15 and 17 and I have a mortgage till I'm 70, and currently owe £98000. I'm starting to panic about the length of my mortgage and never seem to have any extra to pay it down. It isn't a large house and downsizing wouldn't save me much. I'm also on shaky ground re my job and would like to…
-
Crisis of Conscience - mortgage or savings
I'm in a bit of a dilemma! I have about £30,000 in savings having taken redundancy and have been systematically paying off 10% of my £130,000 mortgage for the last couple of years. The first year I didn't tell them whether to reduce the term or the payments and they automatically reduced the payments. The second year (last…
-
Excessive Mortgage payment gone worng??
Hello, This is my first post here. I am working my way through paying my mortgage off, and something unexpected happened, and I am not sure if it was good or bad. My monthly mortgage is about $1450, and I got a large bonus at work in April. Because of the bonus, I put $4500 on my mortgage payment in April. I logged in just…
-
Overpayment spreadsheet
Does anyone have an overpayment spreadsheet that allows you to put in different monthly overpayments or know of a link to one please?
-
Stamp duty on 2nd House
Hi, I have got a house in England and i am currently looking to buy another house in Scotland for my family, is it we gonna pay higher rates for stamp duty or if we still qualify for First time buyer i am thinking this because both my houses will be in different countries, am i thinking correct? really appreciate if any…
-
Is this a bad idea?
So at the moment we have 33.6k left on our mortgage (most on 2.75% about 8k on 4%), it's due to finish in 2yrs 10 mths, we are paying about £1087/month. All well and good but by the time it's paid off I'll have turned 59 and I got to thinking it'd be nice to have extra money to spend earlier. Our credit rating/record is…
-
Squirrelgirls MF quest
I am venturing into the MF Wannabe world!! :D I have recently come to the end of my mortgage deal and have got a new one which runs to the 31st March 2019. My plan is to clear my mortgage on 1st April 2019 ;) I have an offset mortgage, so I can spend between now and then either paying off the capital or putting the extras…
-
Mortgage Free by April 2017
Hi everyone! Long time lurker on these forums! I have previously posted in my wifes diary, and whilst our OP’s have continued we have been a bit slack there. Our plan has changed a fair amount since she first posted so I have decided to kick off this new diary to chronicle the (hopefully) final 20 months of our mortgage. A…
-
Want to be mortgage free asap
So been reading these topics on here for a while now so thought I’d start my own. Mainly to gauge how I’m doing within my own overpayments and thoughts of other members. I bought my first house last year I’ve owned it since aguest 2017 but moved in jan 2018 so newly coming up to a year wow how time goes fast. I bought it…
-
Buying outright from aborad
Hi everyone This is my first time posting so sorry if it's in the wrong section or i make no sense :o I have no idea about mortgages or owning a home so again please forgive me if this is a stupid question! Me and my boyfriend are currently in a long distance relationship. The plan is for him to eventually move here. At…
-
Introducing....
Hi and thanks for dropping by to read my first MFW blog. I have been utterly inspired by the commitment (and sacrifices) so many of you have made in order to pay down your mortgages early. An especially BIG shout-out to Tilly, Museumworker and Man v Mortgage - you guys rock! I've been obsessed with your blogs for the…
-
Smiling my Mortgage Away
I have been reading the mortgage free wannabe diaries for some time and was inspired to start my own mortgage-free journey a while back. I thought starting a diary would help to motivate me, give me a way to record my progress and hopefully contribute to some of the mortgage-reducing inspiration on here. I hope there is…
-
A way to pay! Clear this mortgage before 30 years!
So; I'll give a little bit of background details about myself; I am a young 25 year old man who has just completed a house purchase on the 11th of November, 2016, my first ever house! I am so excited, me and the wife are very happy with our purchase, however we have some gritty bits that we must sort out! It's an old…
-
Whats better?
Hi everybody! long time watcher, first time poster.. after some advice.. Whats better? overpaying on your existing mortgage product...or.. Going for a new product that includes the overpayment but brings down the term of the mortgage? Any ideas would be welome.
-
Originalmiscellany's MF dreams
So I have read all these forums avidly, and have never really contributed – something like 10 posts in 2 years! However I’m going to take the plunge and start a MFW thread. So, I bought our house (co-bought with a friend) in 2002 – 127,500 – with us each paying half the mortgage. At the end of the five year fixed deal…
-
Kill the mortgage before 73!!
Hello to everyone and thanks for popping in. A bit of background. Myself and DH are due to complete on our next home in the next few weeks. We are porting our current mortgage and borrowing an additional £23,000 making a total mortgage of £183,250. To borrow this extra money we had to agree to a term of 37 years!!! I will…
-
SF's road to MF/FIRE: Part I
I started a MF diary back in 2013 and it started off well; we managed to do fairly substantial OPs and reduced the capital well. But, since then, life and plans have got in the way. So, we are now aiming for mortgage freedom plus financial independence and retiring early (FIRE). It's going to be a long and exciting…
-
Mortgage free or a bigger house?
Hi all For as long as I can remember I have always wanted to be financially comfortable with little to no burden. I have always had it in my head that I would be mortgage free before I am 45 and I am somewhat on track being 29 and having 16 years left on my mortgage. I would like to get your opinion on my current…
-
Newbie
Hiya, i've decided to join after reading your inspirational stories. I'm 26 just got married and bought our second home. We have a house that we are renting out and see as a pension pot, the new hosue is our main home with a 141,000 mortage over 30 years. We have litterally just finished it this week , after a full refurb…
-
Southernman's two mortgage reduction journey
Hi all, I wanted to start this off more to motivate myself given the amount of secured debt i've lumbered myself with. I have been a part of the MFW forum for a few years now mainly as a lurker. I have a city centre flat which i rent out and have overpaid by about £300 a month. It was originally at £90,000 back in 2011 and…
