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5 years mortgage left.
We have about 15 grand to pay on our Nationwide variable 2.25% mortgage. I have about 10k in Santander savings 123 account. I have legal and general joint life insurance which is £12.66 a month. The question I am putting out is what are my best options to reduce the mortgage time as well as avoiding possible interest rate…
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Single mum - sink or swim!
Hi everyone :hello: So firstly, thank you to everyone for posting your inspirational diaries! I've been lurking for a while and have loved popping in and reading your stories. I'm hoping that my own diary will help me stay focused and on track too :D I had a lightbulb moment earlier this year when I realised that my…
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Unlimited overpayments
Hiya Which mortgage providers allow unlimited overpayments? I am currently with Post Office (Bank of Ireland) and I am limited to paying off 10% of my mortgage each year. I don't like it - ha ha! UC
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On the road to freedom..
Hello everyone! I finally did it! After saving up for many years on my own, I finally have my own home. This has been a dream of mine for many many years. Just 8 years ago I was jobless, miserable, and in debt. I had a lightbulb moment and decided to change my life for the better. I got myself a good job, cleared all of my…
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Goodbye Mortgage - the beginning of the end!
Hello! I've been lurking for a while and have finally plucked up the courage to start my own diary. My OH and I moved into our current house a few months ago (it doesn’t feel that long!) We bought it for £125,000 and we have a mortgage with Woolwich for £102,000. It's a 3 year fixed at 4.28%. The section of our keyfacts…
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Pay off mortgage quicker or buy rental houses?
I’ve got to the point in my life where big expenses have been paid ( wedding etc) I now have a disposable income of approx 2k per month to use on whatever is financially best. I currently have a personal mortgage with an outstanding balance of 91k, I could pay 2k per month off this and be mortgage free in just over 5 years…
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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…
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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…
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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…
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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?
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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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.
