The Mortgage Free Roll Of Honour

diable

^^^

Congratulations, now enjoy life.

kingster2069

Congratulations, very impressive. I wonder if you're the youngest person on this roll of honour?

Tidd83

Not sure to be honest, maybe there are younger people even if not in this thread. Thanks for the comments and diable - I intend to!

starbucks

Dear Tidd83,

WOW very impressed, wish I was as switched on as you when I took my first mortgage out. Yes you're 100% right, your mum would be proud.

Well done to all the others that have posted their good news, I I enjoy reading everyone's stories and tips, really very motivational for me.

Keep up them coming.

Sashk

a. The date you decided to become a MFW
December 2007 we made a goal of paying off the mortgage by May 2011 - we paid it off on 1st June so not too bad!!

b. Mortgage Debt at its highest
£63500

c. Mortgage-Free Date
June 1st 2011.

d. Your one pearl of wisdom.
Sometimes it seems like its a long haul in front of you but when you see the progress you are making it really spurs you on! Keep at it - but like another poster said you do have a life too don't forget that!! Good luck everyone!

Unicornucopia

a. The date you decided to become a MFW
July 2011 when we took out our mortgage following a house move
b. Mortgage Debt at its highest
£27,527.45
c. Mortgage-Free Date
July 2011 - This Month!

d. Your one pearl of wisdom.
Go for a great long term deal if you can. I had a 10 year deal with rates capped to Bank Base Rate + 1% - so, for the past two years, that's been 1.5% and lower than interest receivable from several of my savings accounts

Sashk

Congratulations Unicornucopia - its a great feeling hey!!

Justin_Christley

My time will come one day!!

Well done to you.::T

William_Mateless

a. The date you decided to become a MFW
September 2006 when we decided that retiring to run a bed and breakfast in France was not going to be feasible in the area we had our eye on. A current account mortgage allowed continual overpayments and we had been overpaying tiny amounts form early days. We made thousands from Capital One credit card cheques and interest free cards paid into the account and paid back before interest was due. Then they started introducing fees for cheques and the party ended, well we still tarted but it was less profitable.

b. Mortgage Debt at its highest
£92,000 August 2002

c. Mortgage-Free Date
1st August 2011 :beer: Target was August 2012 so we came in a year early. Can't wait for the end of the month and being £1600 better off!

d. Your one pearl of wisdom.
If you decide to do it then commit whole heartedly and keep chipping away. Dont sacrifice time with the kids though because you cant get that back.
Looking forward to having a life again, it has been hard but worth it and everything suddenly tastes nicer for some reason The world is an exciting place again thinking we can treat ourselves to anything now (within reason). Need to change my sig now!

vacheron

a. The date you decided to become a MFW
Many years before buying a house. Probably around 2004-5 when I noticed that my savings were doing pretty well meaning that mortgage free ownership of an average FTB house was a real possibility.

b. Mortgage Debt at its highest
£187,000 in May 2010 when I bought my, "first and forever" house (and hopefully jumping over a couple of expensive rungs on the ladder in the process).
At this point none of my savings were yet moved into the offset mortgage.

c. Mortgage-Free Date
Today! (Technically at least) As a loan I gave to someone was partially repaid which means my offset savings now slightly exceed my remaining mortgage. YAY \o/ :j

d. Your one pearl of wisdom.
Save as much as you can as early in life as you can. If you are planning on using an offset mortgage, borrow the maximum amount that the LTV band and your earnings will allow (whether you need it or not) and borrow it over the longest time possible. Use the "reduce payments" rather than the "reduce term" option and place the resultant monthly savings into your offset savings account. This maximises both the amount and the future availability if your savings for whatever the future may bring.

e. And if you had a mortgage freedom diary on MFW, a link to it.
No diary I'm afraid, I was too busy working, flogging my earthly belongings on eBay, and offsetting everything I could to write a diary.