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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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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…
