The Mortgage Free Roll Of Honour

good_advice

Thank you MSE and all the kind members that have shared their stories.
I have helped the family save many £'s following the good advice.:money:

A. The day we decided to become mortgage free was 01/05/2015

B Mortgage dept at its highest - less than most people. This year we still had £15000 to pay.

C. Mortgage free date - 26th August 2015
We moved to a new area and bought a smaller home.

D. Your one pearl of wisdom - follow your destiny.

E. The mortgage guides and others that helped you - Over many years I have learnt to be careful and plan spending. Reading MSE members helpful advice has been a real help.

F. I did not have a MF diary. I read the MSE news letter and have become a team member giving and reading advice.

Mortgage FREE :j

qwerty001

Hi All,

a. The date you decided to become a MFW
-As soon as we got the mortgage Feb 2011

b. Mortgage Debt at its highest
- £67000

c. Mortgage-Free Date
-Last payment made on 17th August 2015

d. Your one perl of wisdom.
-Pay as much as can comfortably, as and when you can
-Ultimately there is only one maybe two tips.
It boils down to Prioritisation:
1 - use spare cash for overpayments
2 - make spare cash (we made spare cash by going without things we did not really need but desired a lot, there are other methods available to suit different people)

e. The MSE Mortgage guides and others that helped you
-the Overpayment Calculator showing how much interest I could save; and how much I could reduce my monthly payments to, my final monthly Standard Payment was for £7.55 !!!
-Reading about other peoples experiences especially their tips

f. And if you had a mortgage freedom diary on MFW, a link to it.
-My diary: MF within 10 years or less
-It took exactly 4 and half years, and it was a bit of a hard slog

lancer165l

paid the mortgage off today,£64,749,52p endownment paid out after 25 years,did not cover half the amount,cashed in all our investments and isa's.my only pearl of wisdom,monthly investing through thick and thin,good luck to everyone on the same path.

troubrs

a. The date you decided to become a MFW about 10 years ago when we sold our individual endowments & changed to an interest only mortgage, suddenly being mortgage free sisn't seem such a daunting task after we paid a big lump off with the proceeds of our endowments.
b. Mortgage Debt at its highest £98,000
c. Mortgage-Free Date 28th September 2015
d. Your one perl of wisdom. overpay whenever you can, even if it's only a little every month. In hindsight I wish I had overpaid more when I was earning good money, we would've been mortgage free sooner!
e. The MSE Mortgage guides and others that helped you overpayment calculator
f. And if you had a mortgage freedom diary on MFW, a link to it.

spidystrider

I'm now mortgage free :j

We took out our mortgage of £151,000 in November 2009 and paid it off by 1st October 2015, so just under 6 years.

I did likely get a bit carried away with the scrimping and saving, but we did have some treats and 2 holidays along the way.

I would advise you to watch every penny as it's amazing how quickly it adds up

Hurdler

The date you decided to become a MFW - July 2011, just after being forced into voluntary redundacy by a bullying boss after 20 great years in a company where I had great friends and was pretty damn good at what I did.
BUT it gave me the chance to pursue my dream to be a sports journalist

Mortgage Debt at its highest - £194,965 (March 2008)

Mortgage-Free Date - 29 September 2015

Your one pearl of wisdom - Don't give up, little and often makes it all worthwhile

The MSE Mortgage guides and others that helped you - a cast of thousands but Sepa, Lois_E Gally Girl, Tilly, Mr Edinburgher, Abouttimetoo and Alchemilla to name but a few of the people who cheered me on my journey. If I have forgotten anyone I am really sorry.

My journey - Hurdler's Race to be Mortgage Free

siju

a. The date you decided to become a MFW
When we changed to a repayment mortgage in 2001
b. Mortgage Debt at its highest
£68,000
c. Mortgage-Free Date
August 2007
d. Your one pearl of wisdom
Overpay as much as you can - we were restricted to £500 overpayment for four years, but as soon as we were free from that restriction we threw as much as we could into it
e. The MSE Mortgage guides and others that helped you
We have a very good financial advisor who was able to point us in the right direction (and he still is, regarding pensions now!!)
f. And if you had a mortgage freedom diary on MFW, a link to it.
We didn't have a diary unfortunately, but I wish we did as I am very proud of the way in which we were able to clear all our debts

Giant_Hogweed

A. The date you decided to become a MFW
November 1981-the month I took it out!
b. Mortgage Debt at its highest
£20500, peanuts by todays standard but it was a lot at the time.
c. Mortgage-Free Date
October 2006
d. Your one pearl of wisdom.
Never get behind with your payments
e. The MSE Mortgage guides and others that helped you
Didn't even exist!

jmarko

I feel like a cheat!

a. The date you decided to become a MFW

May 2005 when we bought

b. Mortgage Debt at its highest

£200k

c. Mortgage-Free Date

20/8/15

d. Your one perl of wisdom.

We emigrated to a country with more sensible house prices and bought something with the half of the mortgage that we'd paid off! My pearl of wisdom is that it's a big old world out there...

e. The MSE Mortgage guides and others that helped you

Sorry - none. I went off piste!

HILLBERN

Hello
We took out our mortgage in 1978:eek: scrimped and saved over the years from 50k at its highest to now be mortgage free in October 2015. 50k possibly doesn't sound a lot reading others posts , but a mortgage is a mortgage how ever much the amount.
Unfortunately I knew nothing about mse until recently:( But all I would say carry on each month it is worth it in the end