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D'oh! Better get started... I wanna be Mortgage Free!!

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Comments

  • tattycath
    tattycath Posts: 7,175 Forumite
    Part of the Furniture 1,000 Posts
    Good luck Froggy! x
    GE 36 *MFD may 2043
    MFIT-T5 #60 £136,850.30
    Mortgage overpayments 2019 - £285.96
    2020 Jan-£40-feb-£18.28.march-£25
    Christmas savings card 2020 £20/£100
    Emergency savings £100/£500
    12/3/17 175lb - 06/11/2019 152lb
  • muddywhitechicken
    muddywhitechicken Posts: 3,940 Forumite
    Tenth Anniversary 1,000 Posts Combo Breaker
    Good luck!
    MWCx
    Mortgage at highest (April 2008): ~£195,000
    Mortgage-free: January 2021
    Retired: June 2022 (186 months early!)
  • megela
    megela Posts: 755 Forumite
    Ninth Anniversary
    Everything's crossed here (it's making work very difficult!)

    Good luck!
    Re-mortgaged 20/04/12 MTiT-T3 No.7
    Start balance £89611.10 + £22500 = £112111.10/Current balance £85436.53
    Original Mortgage Free Date April 2032
    Target Mortgage Free Date July 2022/Currently August 2029 (based on no offset)
    Total overpayments from 20/04/12: £8152.95
  • Froggy-G
    Froggy-G Posts: 2,145 Forumite
    Thanks all.. I am almost done with work here.. I should finish in the next half hour then drive up to the interview (3pm)..

    Will let you know tonight how I got on..

    Froggy :D
    Froggy's New Lillypad Fund
    Total so far: £ 10,009.77
  • Froggy-G
    Froggy-G Posts: 2,145 Forumite
    I am back from the interview.. It went well and lasted about an hour.. I did not get stuck with any questions.. They then took me on a tour of the building afterwards..

    I should have some feedback by the end of the week..

    Froggy ;)
    Froggy's New Lillypad Fund
    Total so far: £ 10,009.77
  • tattycath
    tattycath Posts: 7,175 Forumite
    Part of the Furniture 1,000 Posts
    Froggy-G wrote: »
    I am back from the interview.. It went well and lasted about an hour.. I did not get stuck with any questions.. They then took me on a tour of the building afterwards..

    I should have some feedback by the end of the week..

    Froggy ;)

    Fingers crossed for you Froggy. X
    GE 36 *MFD may 2043
    MFIT-T5 #60 £136,850.30
    Mortgage overpayments 2019 - £285.96
    2020 Jan-£40-feb-£18.28.march-£25
    Christmas savings card 2020 £20/£100
    Emergency savings £100/£500
    12/3/17 175lb - 06/11/2019 152lb
  • LydiaJ
    LydiaJ Posts: 8,083 Forumite
    Part of the Furniture Combo Breaker Mortgage-free Glee!
    Froggy-G wrote: »
    I am back from the interview.. It went well and lasted about an hour.. I did not get stuck with any questions.. They then took me on a tour of the building afterwards..

    I should have some feedback by the end of the week..

    Froggy ;)

    Delurking to wish you all the best for hearing good news by the end of the week. :)
    Do you know anyone who's bereaved? Point them to https://www.AtaLoss.org which does for bereavement support what MSE does for financial services, providing links to support organisations relevant to the circumstances of the loss & the local area. (Link permitted by forum team)
    Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
    Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.     :)
  • Lois_E
    Lois_E Posts: 2,227 Forumite
    Ninth Anniversary Combo Breaker
    Oooh Froggy how exciting. Good luck for the job (and good luck to Cal too.) :)
    Starting again 13/4/19
    Home loan 1: £21,102.50 Home loan 2: £7,698.99
    Total owed: £28,801.49
  • mcculloch29
    mcculloch29 Posts: 4,972 Forumite
    Rampant Recycler
    X fingers Froggy, very much so. (Size FOURTEEN? I didn't think you were particularly tall, am I wrong? My DS is 6' 5'' and a size 12.)
    Erma Bombeck, American writer: "If I had my life to live over again... I would have burned the pink candle, sculptured like a rose, that melted in storage." Don't keep things 'for best' - that day never comes. Use them and enjoy them now.
  • DudeDjm
    DudeDjm Posts: 287 Forumite
    I'm not sure I'm in the right forum so apologies if that is the case. I just want some advice on remortgaging the house I live in to buy a second house outright so I can rent the second house out. I am currently overpaying the house I live in by an extra £500 a month and have been doing that since day one approx 2 years ago when I bought the house. If I keep doing this (which I plan to do) then my mortgage will be paid off four years from now. I only took out a mortgage of £45k. My house is worth approx £100k. However, since buying the house I have changed jobs and gone part time because part time is excellent and I do enjoy an afternoon nap. This means I only earn £9k a year but I don't pay tax on that. I do rent a room to a lodger which gets me an extra £280 a month but I am not relying on that.

    I know I am looking ridiculously far ahead but after I pay off my mortgage do you think it will be possible to remortgage the house for say £50k or does it go on income? Also, do you think remortgaging is the best option? I want to buy a house outright for approx £70k if possible. I haven't ruled out a BTL mortgage but I think it would be less hassle if I just remortgaged unless I've missed something. My current mortgage provider is Nationwide and when I put my details in their remortgage calculator they would only lend me £23k!!!

    Any comments would be appreciated.
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