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21 and looking to buy
Hi, Apologies if there’s an instant recognisable lack of knowledge regarding purchasing property here! I believe I will be inheriting around 50k and am looking to invest into property, in order to rent it out, as I am still living at home and am not looking to move out just yet. I have looked at buy to let mortgages but…
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Building Up Some Options!
Hi Guys Been a long time since I posted but have remained a lurker behind the scenes and have still been working on the money stuff a lot - today is the day for a shiny new diary :) Current situation is as follows: House value = £200,000 and Mortgage = £135,730 and 1.5 years into a 5 year fix, 14.5 years to go. I've…
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Reduced Mortgage Term
Hi I am new on here, although I am already on the debt-free wannabe thread as I have a (0%) credit card and an (intrest free) loan from a family member to pay off. However, after taking out a 25 year mortagage with my (now) husband in July 2005, we should have just over 12 years to go, but on Monday we reduced the term to…
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Mortgage free on 1 house or smaller mortgages on both
Hi I’m looking for some advice on how to use some savings that I have painstakingly built up for our next move. There has been some very frugal living to prepare for our next move. The savings, around £43000, would give us 67% LTV including equity from our current house. The other option is to use these savings to pay off…
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What you do? Stay invested or pay off mortgage?
Hi I consider myself reasonably financially savvy but just wanted to put this out there to hear what you guys think about whether to sell my investments and pay off the vast majority of the mortgage of not So about me Married mid 40s 3kids Household income £130k 2xdb pensions worth 20k per year at todays prices 1xdc…
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Not paying off mortgage completely?
My husband and I will be in the fortunate postiiton of being able to pay off our mortgage within the next couple of years. My husband has sold his business and we were planning on using the proceeds to clear off our mortgage. However my dad recommended that we don't clear the entire mortgage but leave an amount in case we…
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The final countdown
well were now slightly over 3/4 of the way to completing this challenge Chapter One https://forums.moneysavingexpert.com/discussion/3071580 Chapter Two https://forums.moneysavingexpert.com/discussion/3688361 Chapter Three https://forums.moneysavingexpert.com/discussion/4473857 Chapter Four…
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Should I pay the whole mortgage off?
Hi Was just wondering if I can quickly get your opinion on something. I took out a 35 year repayment mortgage in June 2011. Over the past seven years it has reduced from £94K to about £83K at £390 a month payments (paid so far approximately £21K interest). I haven't made any overpayments. My fixed rate deal has ended and…
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Mortgage free by 33
With 0 help from the bank of mom and dad I find myself about to be mortgage free by 33. myself and the hubby bought our house 5 years ago for 155K with 15% deposit, our mortgage payment is ~£650 and we overpay £1700 to £1900 a month. We went with first direct so we don't incur a penalty for overpayments beyond 10% and we…
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Mortgage free before my kids turn 18
Hi there folks. Long time reader, first time poster, brand new account. Short Story: We bought our first house in June 2016. It's nice 3 bed property in East Midlands and it will serve us well for several years unless something unexpected happens. Great value for what we got really and definitely works better for us than…
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Title Deeds-a few questions
I have paid off my mortgage and am considering taking the deeds into my possession but am worried about what happens if i lose them. the mortgage company wants over 300 pounds to give me my deeds so its a big decision for me. Ive read related posts on here and believe the real deeds are stored at land registry in paper and…
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Some advice please in paying of my mortgage early.
Hi, I would really welcome some advice in reducing and hopefully paying of my mortgage early. Below is my current situation: I am currently into my 1st year of a 5 year fixed deal (1.89%) with Tesco bank. My current mortgage balance is circa £205k. I have at least £23k worth of savings which isn't really doing anything for…
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My Mortgage Overpayment Journey
Hello, I'm a long time lurker across all the MSE forums but it's this wanna be mortgage free which really appeals to me. I find other people's stories quite motivating so I thought I would give it a go. Initial situation... I have two mortgages (original mortgage on my flat then an extension to this when we bought our…
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The long march to a Mortgage Free Future/Larger Forever Home
Hi Guys. I ve been lurking on these forums for a little while now, I've read lots of very useful advice. I was wondering what everyone's thoughts are regarding which option is best? Little bit of information on my personal circumstances: Myself and my partner are getting married in August 2018. We currently own a 3bed…
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New but not new - Year 1 of 5!
Hi! I'm a re-joining member of old.....and whilst I'm reluctant to give up my previous 10,000 post count, I also don't fancy ex husband following my every move as I go into this next exciting chapter of life! I was a DFW stalwart for years, but am pleased to announce am on the MFW journey....with vigour :D I've not been on…
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Aiming high!
A little about us firstly. We bought our very first house just under a year ago for £151000- a renovation project that people thought we were mental for wanting. Why? The house had been empty for 6 years, the bathroom was disgusting (inch thick fly poop anyone?) and the kitchen didn't exist (we put a fake temporary kitchen…
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Family member paying off my mortgage but wants a charging order
A family member has offered to pay off my mortgage (it has about 5years remaining), however he wants to place a charging order on my house. I believe that this is because should anything happen to me then my estate will repay the money back to him. Not having a mortgage to pay will save me about £700 per month so the…
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OK lets do this.....24 payments to go
Been lurking on here for a while getting lots of hints and decided now is the time to get posting to keep me motivated so I hope to get on here regularly and update and read all about your journeys. Background to posting is we recently found our dream house and really started to look at mortgages in detail with our bank…
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Where is the money coming from?
Hi, I have contacted my bank to enquire how I could pay off a slice of my mortgage, in this instance £10K. The bank gave me all the details and then asked where is the money coming from, I told them that I had received an email from a Nigerian prince who has promised me the money by Friday .................... why are they…
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Start As I Mean To Go On [Gorg's MFW]
Husband and I have only signed the mortgage documents today, and haven't even moved yet. But I've been applying advice from MSE to my finances for a few years now with great success, and as this is the biggest chunk of debt I've ever taken on, it seems sensible to cut it down as fast as possible (without causing any…
