Hello all

Empty_pockets

Though i'd stick my head in the door. Recently departed the DF lounge with a smile and arrived in the MF department.

Tis my first house and I see me moving at least twice.


Current mortgage is £59734

£43K of that is 0.5% over base

£17 is 1% over base.

A great rate, just need to start ploughing into it now.

originalmiscellany

Well done on going straight from debt free to MFW
You're on an amazing rate of interest as you said, you must be paying peanuts a month - and if you can keep up the habits that took you from DFW to clear all debts, then carrying on each month overpaying will clear your mortgage in next to no time.
What time frame have you got on clearing your mortgage? Can you set a target to clear by say December? 1k off? That's £333 a month extra on your mortgage?
Finally, have you got (from DFW boards?) an SOA?

Congrats on completing your first half of your journey, here's to your next chapter - that of being MFW!

someday_soon

Hi Empty Pockets

I also graduated onto these boards from the DFW about 2 years ago now. Well done for getting here, and the best of luck in the next stage in your journey to financial freedom.

Someday Soon

dimbo61

With your current mortgage rate and the FACT that you want to move at least twice I would be filling a cash ISA or regular savers to that when you take the next step up the ladder you have cash to put into the property and port your existing loans

SeriouslySeekingtoSave

I agree with Dimbo, with those rate you can almost certainly get more bang for your buck in Saving Accounts/ISA's etc.

P.S. Are you sure you really want to move 'at least' twice? Your call of course but it can get expensive to move with all of the fees associated with it. I've read a few peoples comments regarding the fact that any capital gains they make on a property gets eaten up by moving costs.

Empty_pockets

Checked today and my mortgage is portable. Decided to make whatever saving possible and try and stay on that rate for as long as possible.

Thanks all.

Mrs_De_Bris

Hi Empty Pockets

Good luck on your MF journey! It's inspirational to see someone leave the DF board and immediately join the MF board. I hope to start a MF diary myself once I've built up some savings. I make my last CC debt repayment tomorrow and I'm free

Anyway - good luck I will follow your journey

quintwins

good luck on your journey i guess really DFW and MFW are the same thing either way your paying a debt only this way you own something at the end