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The Mortgage Free Roll Of Honour

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  • misselvis
    misselvis Posts: 285 Forumite
    Energy Saving Champion
    let me begin by saying I was just browsing through the forums and happened to read this thread and whilst my DFW lightbulb has been well and truly lit once that has been cleared I am definetly going to work on being MFW by the time I am 45. I am 30 now and my debt including my mortgage is near 200k wow. I am heading for a remortgage in October so am going to look for a deal whereby I can make overpayments and the like. Thank you so much for your journeys to becoming MF. I hope to join the roll honour list:T
    misselvis proud and in motion - dealing with her debts step by step :)DFW #107
    challenge pay off 6.5k by the end of 2017~ £388/£6500 challenge 1% challenge = 6% of debt cleared; challenge - build up 3 months emergency fund- £0/£6000
  • pupsicola
    pupsicola Posts: 1,175 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Mortgage-free Glee!
    Only just found this site.

    But when we took out our first mortgage we decided we wanted to mfw straight away

    Got Mortgage March 1999
    Mortgage was for 115k
    Mortgage free by 15 June 2002
    Pearl of wisdom - Lots of bloody hard work and staying commited to it.

    Sarah
  • wow it was great
  • Max_Headroom_3
    Max_Headroom_3 Posts: 1,597 Forumite
    Mortgage-free Glee!
    Cleared mine today, yay!! :T

    I actually pretty much cleared it at Christmas time last year, but kept £1,200 on it as it had a guaranteed loan up to £85K attached to it should I need it and i thought it might be useful to keep an instant credit line open so was paying tiny payments and keeping it going.

    Then I got made redundant last week, got my payoff (not huge but a reasonable chunk), and thought "well I'm certainly not going to be borrowing money for anything now, and as I've no income I don't like the idea of owing anything at all" so I decided to use some of the money to wipe off that last bit and close it. I did wonder whether I ought to leave the money "liquid" in that once I pay it off, that cash has gone if I need it, but the idea of being as "self contained" as possible appealed and there's enough left to last me till the year end (I think!!) if I'm really careful. I also bought a secondhand car with some of the money as I'd had a company car which has now gone back of course so the theory was to own everything I needed outright, which I now do.

    So that's it, done! And despite the unfortunate circumstances I have to say it's quite a relief. :)

    Just need a job now... :rolleyes:


    Please report

    a. The date you decided to become a MFW
    b. Mortgage Debt at its highest
    c. Mortgage-Free Date
    d. Your one perl of wisdom.
    e. And if you had a mortgage freedom diary on MFW, a link to it.

    And huge congratulations :)

    Ok, so:

    a. Not sure exactly, but maybe three or four years ago when I felt things were getting out of control with the countries finances, house prices, borrowings etc and started to feel uneasy about everything. I decided I wanted to make my personal financial position as safe as possible, and given what's happened I'm bloody glad I did!

    b. At it's highest it was about £34K I think, when I took it out in the early nineties. (I've switched lenders over that time to get better deals, but never borrowed more).

    c. Mortgage free date is today, yay!

    d. My one pearl of wisdom would be I think, don't get obsessed with putting every single penny into it. You still need a life and the odd treat. If you obsess to the point of never spending any other money ever you'll "burn out" and get fed up of it after a while.

    e. Didn't have a diary, just got on with it. I felt that if I told everyone I was going to do it I wouldn't. And if I didn't then I would. Odd logic but it works for me. :D
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • gettingbetter
    gettingbetter Posts: 1,449 Forumite
    Mortgage-free Glee!
    :j:j:j am mf

    bought house 2001
    mortgage at highest £30000
    mf date 22/05/09

    my parents stood guarantor for our mortgage, on the understanding that if we came into any money we would pay off and free them
    unfortunately MIL died in Jan
    we used some of inheritence to pay it off
    guess that is cheating a bit

    i over payed every month. payments should have been £137.06 per month and i paid £220.00 every month which it was at its highest

    really love reading everyones posts

    kas xx
    br no 188 ;) AD 17th apr 09:D
    :Dmortgage free 22/5/09:D
    :Ddebt free 11/8/09:D
    :j#18 £2 saver = £ :T sealed pot #333
    silent member of mikes mob
    i will lose weight :rolleyes: i will sort my house :o
  • creme_brulee
    creme_brulee Posts: 168 Forumite
    Part of the Furniture Combo Breaker Mortgage-free Glee!
    a. The date you decided to become a MFW
    Since the day I got my first endowment mortgage plan before I even had a property over 17 years ago!
    Mortgage Debt at its highest.
    £77,000 approx
    c. Mortgage-Free Date.
    Yesterday :j
    d. Your one pearl of wisdom.
    Just keep going, the feeling is incredible when you can go around your home and garden breathing in the air and even just touching the walls and saying "it's mine now and I feel safe"
    e. And if you had a mortgage freedom diary on MFW, a link to it.
    never been brave enough but just took inspiration from all you guys :T
  • mah_jong
    mah_jong Posts: 1,284 Forumite
    Mortgage-free Glee!
    This is for Mortgage-Free Wannabees who are no longer Wannabees.

    Please report

    a. The date you decided to become a MFW
    The day I got my first statement in from the building society, I was aghast at the amount of interest that had been charged!
    b. Mortgage Debt at its highest
    27000. may not sound much, but household income at the time was 8000. I am still at tax credit level.
    c. Mortgage-Free Date
    June 2009
    d. Your one perl of wisdom.
    Prioritise, if this is what you want, then do it. If there are more important things one month then that is OK, spend there and dont feel guilty.
    e. And if you had a mortgage freedom diary on MFW, a link to it.
    I paid mortgage off in 9 years, despite low income and age! I am now 50+ I am going to use monthly surplus to do things that other folk take re mortgage for - both kitchen and bathroom need updating. Not urgently, so will save over time! No link here but I have posted from time to time!!

    And huge congratulations :)

    Thanks
  • a. The date you decided to become a MFW - Dec 2005
    b. Mortgage Debt at its highest - £241k
    c. Mortgage-Free Date - fingers crossed by Sep 2009. (im 31). I have £30k to go!
    d. Your one perl of wisdom - prioritise. I went without a decent car, designer handbag, lots of self pampering and splashing cash, to pump 95% of my salary into my mortgage each month! its dull, but so rewarding too!
  • Max_Headroom_3
    Max_Headroom_3 Posts: 1,597 Forumite
    Mortgage-free Glee!
    Your one pearl of wisdom.
    Just keep going, the feeling is incredible when you can go around your home and garden breathing in the air and even just touching the walls and saying "it's mine now and I feel safe"

    Darn tooting it is!

    Perfectly put. :T
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • We did it back in February 2009, only just got round to adding on here as keep forgetting we are MF as we're so busy having building work done on the house we moved to!

    The date you decided to become a MFW

    March 2006

    b. Mortgage Debt at its highest

    88k
    c. Mortgage-Free Date

    Feb 2009

    d. Your one perl of wisdom.

    Believe you can do it and you will


    e. And if you had a mortgage freedom diary on MFW, a link to it.

    N/A We are going to sit back and enjoy it eventually once all the building work is finished.

    Good luck to all of you who have acheived it and good luck to all of you who will in the future!:beer:


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