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Should I pay my mortgage off?
Hello, My mortgage Is coming up for renewal in November and it currently stands at £32,000. I have been on a fixed rate for five years at 1.8% and I’m terrified about the monthly payments jumping up when I renew. Having done a budget plan this week in preparation to meet my mortgage advisor, I was shocked to find my…
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Paying off within the 10% limit
Hi We have a mortgage with Nationwide, 10 yr fix at 2.09% with 6.5 years to go, current balance is ~£27k and the original loan was £100k so checked with Nationwide and an overpayment of £10k is ok without invoking early repayment fees. So it’s possible to clear the mortgage in 3 years rather than the remaining 6.5, which…
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New life, same goal! Pursey’s quest to be mortgage free.
I started a diary back in 2011 with the aim of being mortgage free within 10 years; a goal I would’ve smashed (within 7), if we hadn’t bought our dream house in the hills. Life has changed so much since 2011, most significantly because we are now blessed with 3 wonderful children. Then we found somewhere perfect to live,…
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Paying off my mortgage early where do I even start?
Hi all, Been reading a lot on here and finally thought I’d post. I’m starting to look into overpaying on my mortgage but not really sure what’s the best way to go about it. There’s loads of calculators out there, but I one and was messing about with the numbers its called checkawage.co.uk It’s mad even just overpaying £100…
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Two years and then downsize... DONE!
Hello - I wanna be mortgage free! I have a mortgage in the high £40k's which has 14 years left to run and fixed at 3.04% until end Jan 2024. I'm divorced and have a grown up son living at home and job hunting, plus a teenager. September 2019 I got a temporary promotion at work and made the decision that all the pay rise…
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Paying mortgage off (Northern Ireland)
Hi interested in anyone who has paid their mortgage off (particularly from N.Ireland). I'm being told to contact a solicitor to have them remove the lenders charge over the property (Discharge of Security). I take it this is just another money grabbing exercise How much will this cost thanks
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Mortgage free in 10 years - success
Hi Long time lurker here but just wanted to share the news that after nearly 10 years in our forever home, we have just become mortgage free! Things were hard financially for a long time, and when things started to ease, I proposed saving the extra and paying off our mortgage. Our 1.7% fixed rate came to an end recently,…
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Just at the start but already planning to be MF ASAP
Apologies in advance for the ramble…. So, it's been well over a decade since I was on here. Back then, I had some debt, and sound advice on here helped me pay it off. Now I'm onto the big guns as a First Time Buyer, and MSE and TikTok have been helpful yet again. I've had an offer accepted on a house, spoken with a…
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Hope is not an Effective Financial Strategy
Hi all - Thanks for popping in and helping me to stay motivated. This is the 6th version of the opening post (Jan 2020 - 58 months into this diary/challenge), but is reflective of where we are currently at. Lots has changed since starting this MF journey, not least adding a 3rd child to our household! Initially this was to…
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Mortgage Free by 53!!
#Saved for totals.#
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Mortgage overpayments
I am coming to the end of cheap 5 year deal, obviously interest rate will be going up, probably quite significantly. We have saved £50k in this first 5 years - should I pay that to the mortgage as an overpayment to keep future payments down when higher interest rates kicks in, or pay the higher payments in future but don't…
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Reposession - negative equity
Myself and my ex partner had a house together, he refused to sell at the time despite me requesting this several times, and instead rented it out to various people that refused to pay. It got to the point were we owed thousands and got taken to court and did a voluntary repossession, and have ended up owing £35,000. I have…
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Paying off a mortgage with inheritance
Hi. I hope this makes sense! I'm due some inheritance which I'm going to use to pay off the mortgage (this is not the bit up for debate, it's going had enough). My question is - should I pay it off just as my current deal ends? Does this stop early repayment fees etc? Thank you.
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Mortgage Free in 5 - 10 years
Thought I would start this diary to document the process. Previously had a debt free wannabe diary and that helped keep me on track thanks to all the feedback. Debt free since April. Currently have the following state of affairs: Mortgage Balance £136,858 at 1.22% for next 5 years Emergency fund for 5 months bills £1655…
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First ever mortgage and start of my MFW Journey May 2024
So as of yesterday by Mortgage Lender had transferred the mortgage money to my solicitors plunging me in to the most amount of debt i've ever been in, in my life. I am very much looking at this as 'good' debt as opposed to 'bad' debt. I am starting a journey on here to try to make myself accountable for becoming mortgage…
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Using credit card to pay off mortgage?
I'm coming to the end of my fixed term deal and only have 15 months left on my mortgage, Unfortunately I have to move onto the standard variable @ 7.99% so I was wondering if it would be possible and cheaper to pay the balance of my mortgage on a credit card then do a balance transfer onto another card with a 3% fee?…
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Pension or Not ?
I am 67 with a Pension and a 22,000 mortgage. My Question is should I pay the Mortgage off using my penison and save my self £600 that I pay every month towards what left of my Mortgage ?
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Cheer Leaders needed on the final stretch
Hi As a regular reader of these threads I need some encouragement of my own. Whether thats keeping track of myself and proving to myself Im doing all I can or others helping me along Single lady on an interest only mortgage coming to an end, the mortgage not me!!!. Don't judge Ive been through difficult times and only…
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6 years of saving so I could take out 35 years of debt.
Started a thread a long way back while I was saving a mortgage deposit with the gf. lost track of keeping it updated so have decided to start a new one now we’ve finally done it! after moving back to my mums for “6months” i finally moved out 6 years later. Oops. so…. We completed in October and are now settled in and…
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Mortgage free in 3 (years)? Lets see!
ooohh this is scary! I am an old timer on the forums which helped me get out of debt way back in 2007-2009 when I first met my husband. Fast forward 18 years (woah!) and here we are in our forever home and I have finally got my husband on board to aim for mortgage freedom. A little bit of context, we have a lovely forever…
