OK to post on MFW board, even tho only a MW?? 25 August 2012 at 10:59AM in Mortgage-free wannabe 3 replies 385 views

janineh1982

Hi all,

Just thought i'd get a consensus of opinion before i start posting on here.....

I am a MW (mortgage wannabe) at present , and hope to have a mortgage mid - next year after saving a 25% deposit. The plan is to then to pay the mortgage off within 5 years (i am all spreadsheet'd and forecast'd up already due to some fabuous individuals on here and their clever s/sheets :T!!)....So my question is, although i'm not 'technically' a MFW with a mortgage, would anyone mind and does it go against any MSE forum rules/regs if i start posting my dep savings diary (soon ish hopefully to be MFW diary) on here:A

I currently have a diary on the savings board, however never actually ready any of the diaries on there, only the MFW one's which keep me motivated - hence i'd like to defect over to the 'dark' side .... the MFW board :j

If you fancy a bit more information about my circumstances etc, i have waffled on below, if not i suggest you don't read any further or you may nod off whilst reading the rest

To give a bit of background:-

I (we) am a MW( mortgage wannabe)
DB and i are studiously saving (well to be fair i am studiously saving now, DB is just saving :rotfl:) for a 25% deposit for a mortgage.

The goal since we started this journey (around 12 months ago) has been to save a 25% deposit for a house valued @ ~£250k...... by April 2013 :eek:.

I had a little bit of a lapse and didn't really knuckle down as much as i should/could for about... erm ....9 months or so - however i still have a reasonable amount saved and we are on course (by hook or crook) to hit our original target (65k incl stamp duty) by Apr next year :T :j:beer::D

Several factors have given me the kick up the behind i probably needed though.

Firstly, i/we had a chat (a grown up and serious one ) with the Mansfield building society about obtaining a mortgage and it was very positive, much more so if we have a 25% dep. Getting a mortgage was always going to be challenging for me, due to my bankruptcy in March 2007 (hence the savings target date of Apr 13, 6 years after BR and all defaults + BR will have dropped off credit file!)....so the positive outlook has given me the boost i need to really really start cutting back on everything possible and squirreling away as much as absolutely humanly feasible for the deposit :T

Secondly - Based on feedback from the MBS i have started looking at houses on right move and torturing myself! :mad: Not a good plan as i saw what could have been our 'forever' house come on the market last month....... @ £360k:eek::eek: - which is erm... a little bit above the budget we had planned! :cool: BUT i checked yesterday (as most days) and it's now Sold STC :(:(

Thirdly, after having my 2nd LBM about knuckling down and saving, i started reading through all the MFW diaries/forum...the likes of Tilly, GG, MW, MRN etc etc - who have all really really really really been a HUGE inspiration ......

Hence i would quite like to start my MW, soon to be MFW journey on here.....

J x

numptyknownothing

I'm sure you will be welcomed with open arms. All a really friendly bunch over here. I would call it the enlightened side rather than the dark side

Good luck with your deposit goal, perhaps you could share some of the ways you have managed to amass your stash. There might be some tips others could benefit from.

It sounds like you have all your ducks in a row, you just need a pond to swim in now

Mortgage_Reduction_Novice

There's loads of MFW threads started by people without a mortgage but who are buying in the near future... there's even a thread from soneone who's saving enough to buy outright so will be an instant MF homeowner!

ammonite

Welcome and good luck

I started my MF diary because I wanted to be MF. Then our financial future became less certain so the "mortgage overpayment fund" became the "savings fund" which is now potentially becoming the "house renovation fund". I feel like a MFW fraud but I'm not, because I still have the same long term plan...becoming mortgage free by 40. I've worked out how much I need to pay off each year to achieve this but rather than pay it monthly (which would be better), until I'm more certain of our future than I am right now, I want to have the cash where I can use it if I need to.

So I'm only a sort-of MFW but still post here all the time