-
Potential Redundancy
Hi I'd like some thoughts on what my fellow MFWs would do in my situation .... I've been chipping away at my mortgage for about a year now. Not huge amounts, just whatever was left over at the end of the month - no more than £300 a month, plus a couple of other small lump sum amounts that have come my way. I love seeing…
-
Newbie MFW - Advice to clear Mortgage in next 4 years
Hi All, a very brief history, having 2 bankruptcy's under my belt, managed to get clear of all that and work our butts off at being financially good, now have a decent credit score, savings, credit card (paid off every month - IN FULL Martin!). Purchased a property almost a year ago £242K, had a lot of help (inheritance)…
-
Overpayment in the first year?
Hi We purchased our first property in October 2017 - we have £260k to pay back for 30 years. I am keen to start some overpayments as soon as possible - but we do have some home improvements to get on with as well - eg the kitchen needs modernising. Is it best to over pay now with the money we have saved or do the kitchen…
-
Trying to avoid a near life experience
Hi everyone, I've been a lurker on the forums for a few years and considered joining many times. Just over 18 months into our mortgage free quest I've decided to join to keep me accountable. A little bit about myself.....I live in the North of England with my SO and fur baby, we are 27 and 28 years old respectively! We…
-
The Plan
Ive called this 'The Plan'...because im terrible for constantly planning financials things, goals, spending etc. This habit followed my 20's of constant overspending with little thought to what I was doing and little enjoyment gained from doing so, I never want to be so wasteful again - I worked very hard and had nothing…
-
Should I overpay my mortgage with a loan?
So a couple of months ago, I wrote off my car, and we decided to upgrade a bit plus we needed another car so our au pair could get the kids to school - we'd moved the kids to a school a few villages along. I'm in the habit of overpaying the mortgage every month by £500-£800, but this simply needed a loan at this stage. No…
-
My "Out of the Rat Race" adventure.
As of yesterday I am totally Debt Free :j I also have a slight red wine head to show for it. There are some amazing people around these forums and my journey to debt freeness was made easier by reading inspirational diaries and also having the support of those who posted on my own DFD. So I have come to the conclusion that…
-
Coventry BS paying SVR on offset balance
I have a question about Coventry BS (CBS) mortgages I'm hoping someone can help me with. I'm interested in their 5 (at 2.15%) and 10 (at 2.59%) year fixed offset products. While discussing this with one of their mortgage advisers I was told that opting for the 5 year deal and then going onto their SVR with an offset at the…
-
The next £10k - Part One
Well hello there! Here's to a shiny new diary! I've been lurking on these boards for a long time, and felt it was time to start my own diary. There has been so much inspiration on here, along with lovely, like minded people. Although my OH is on board with my MFW [STRIKE]obsession[/STRIKE] goal, I do see their eyes glaze…
-
The Start of a New Adventure
I'm canaryfeather, a 25 year old who has had her eye on buying a small starter home in the city I work in for the last year. I found a tiny one bed house within walking distance from my work and yesterday the exchange finally went ahead! Completion will take place in just over 2 weeks and I thought that now was a better…
-
A question to the mortgae free wannabe's
Hi All, I, like most (all) of you wish to be mortgage free. I dislike having that axe above my head and after moving a couple of years ago that goal seems further away than ever. I am not put off though, I have a 30year mortgage, purposely so as it gives me more flexibility than a shorter term mortgage. I aim to pay if off…
-
The start of my journey to staircasing and becoming mortgage free
Hi all, I'm a long time lurker on the forums and decided that I'd like to join all of the journeys posted here into becoming mortgage free! It's my first post - please let me know if I've done anything wrong! However, all is not as it seems, as my situation is a bit different from the posts I've seen in here... here's the…
-
Here we go
Hello! I’ve been a lurker on these boards for years and have read many of your inspirational diaries, but have now decided to take the plunge and crack on with my own. Bit of background, we got a 30 year mortgage last year and have already paid our 10% yearly overpayment allowance. The plan is to do that again next year.…
-
Not enough for a mortgage
So my mortgage fixed rate is due to end in October, we owe £16,000 so not enough for us to remortgage onto another fixed rate. What’s our best options????
-
Pawlala's MFW diary (Part II now underway in earnest!)
UPDATE 31/12/2016 OK I’m resurrecting my diary because... I’m no longer mortgage free :rotfl: and I predicted this moment would come! If you are not aware of my journey since 2009 I have paid off two mortgages before. The first 8 years ago and the most recent was four years ago today when I paid off the mortgage of my…
-
yet another mortgage escape quest
Hi everyone. I've just remortgaged and added some debt to my mortgage to renovate and to extend the lease - and even though on paper it's not a bad move, I'm feeling [STRIKE]a bit[/STRIKE] very worried about this. The good news is that I managed to lock in a 5-yr fix rate mortgage at 1.79%, also that I don't have any debt…
-
New User and Info needed....
Hello All! I have seen many videos on how to get mortgage free in 5-7 years but most are American. I was wondering (and apologies if this has been covered before and i have missed it) if there are equivalent UK plans? Could someone please advise me in the right direction. Many Thanks!
-
Worth paying the 3,300 to get a lower rate?
Hi there Great forum , have learnt a great deal . My current mortgage rate is 2.89% fixed for another 2 years (5 year fixed) . I was looking to fix for 10 years at 2.49% (with the same lender I am with now - HSBC) , to change now will incur a 3,300 charge . The current mortgage is 148k - can anyone advise how much I will…
-
Mortgage Free in 10 years....
Hello one and all, I thought that i would put together a specific Mortgage-Free Wannabe diary to look at how I can over pay as much as possible on my Mortgage to reduce the term. I have recently bought my first family home (in Jan 2012) and want to start making a dent on the overall mortgage of £119500 which we have fixed…
-
Mortgage Discharge
I had a mortgage with Bank of Scotland that l paid off in 2014. I recieved the Deeds for the property. I am now selling, actually sold, and about to buy another property. I have given the deeds to the lawyer who is dealing with it. She called today to say there was two morgages against the property, one from Halifax and…
