The Mortgage Free Roll Of Honour

BusyGirl

Hi,

a. The date you decided to become a MFW
Well I've dreamed about it since 1996!

b. Mortgage Debt at its highest
£71,000 back in 1996

c. Mortgage-Free Date
1st June 2015

d. Your one pearl of wisdom.
Overpay as much as you possibly can but make sure you have your emergency savings as well. We were lucky as we were able to finally pay off the mortgage completely due to a small inheritance.

e. The MSE Mortgage guides and others that helped you.

To be honest the whole of the moneysaving forum has been life changing for me since I joined it back in 2006! :beer:

BusyGirl

I forgot to ask in my post please can I have my mortgage free badge pretty please?

kremmen

a. The date you decided to become a MFW

About the time I realised I wanted to retire on to a narrowboat

b. Mortgage Debt at its highest

100k

c. Mortgage-Free Date

May 2015

d. Your one perl of wisdom.

Life is too short.

e. The!MSE Mortgage guides!and others that helped you!

The whole site

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

Didn't. No blog just sold house and moved onto my Narrowboat

Paul

ChrisTheNewbie

Over the moon to have redeemed my mortgage this afternoon with a £16k final payment! My dream has always been to clear this by the age of 40 so at 38 I feel incredibly lucky to have achieved this target two years ahead of schedule. This Mortgage-Free Wannabe forum has been an utter inspiration for me for a number of years; I have absolutely loved following the stories of so many passionate individuals on the same journey as me. Thanks everyone & I look forward to tracking your 'completion' stories on this thread in the coming weeks/months/years!

The date you decided to become a MFW
July 2002 (the inception date of the £105,000 mortgage on my first house)

Mortgage Debt at its highest
£125,000 (when we purchased our forever home in January 2008)

Mortgage-Free Date
Today (26 October 2015)

Your one pearl of wisdom.
Don't be disheartened by individuals who say you cannot achieve this dream. There will be twists & turns, some that go your way & some that don't, but keep your eyes on your end goal, make every overpayment you can (preferably via direct debit so it becomes a habit) & rest assured that the feeling of making that last payment is every bit as good as you imagine.

Thanks again guys,

Chris.

Igamogam

Mortgage free today!!!!:j:j We decided we would be mortgage free from day one......we were never not going to pay this debt!! (Bad grammar !) But YKWIM

So we did it the hard way......we paid every penny with no missed payments and with a bit of help from compensation from 2 mis-sold endownments and a couple of PPI's...........one of the endowments has paid out though so a little nest egg going on to some long awaited home improvements:)

Our mortgage was for £45K. Originally on a interest only plan, we changed to a repayment once the compensation money came through from the endowments and then moved the mortgage just as interest rates fell through the floor so for the past few years interest has been 0.5% above base rates. We rounded up the monthly DD so small overpayments were being made and we put all our PPI re claimed money onto the mortgage debt too ( about 4K) and just let it slowly be paid off in the background. We have CC debts to pay but our priority has always been to make sure the mortgage was paid each month:D

I dont really have any pearls of wisdom except we treated the mortgage as a necessary debt that had to paid. If you can over pay,even a small amount each month,itall adds up. Our deal had no early redemption fees or charges to make over payments...........always worth checking;)

So now the roof over our heads is truly ours............

One disappointment, there was no trumpet fanfare,champagne or marching band when I handed over the redemption cheque. Although the young cashier did smile and say 'have a nice day' and for once I didn't cringe but replied 'you betcha!!' I think I made him cringe;):rotfl::rotfl:

Looking forward to my first MSE badge........now chasing the DFW one:D CC's here I come

greent

Well done Igamogam!
x

lisa110rry

Well done igamogam!

We are also mortgage free since March 2012 (I've often wondered where this thread was, never saw it on the first page before). The following may well surprise you.

Our mortgage was for a little over £27k and was interest only but we kept overpaying and overpaying. Then, as luck would have it, on mortgage free day, we were in Thailand at the wedding of our only child to his lovely Australian bride. We couldn't actually transfer the money as we were out of the country, so did it when we returned home accruing a little further interest, but at that point who cared!

Sapphire

Mortgage free as from August 2012, when I immediately went self-employed. What a relief!

janiebquick

Became a Mortgage-free wannabe: I always was one

Mortgage-free date: July 1, 2015

Highest mortgage got to: £58000

Pearl of wisdom: Overpay if you can. You will be surprised how quickly the debt reduces.

Madmel

Decided to become Mortgage-Free 1998

Actually became MF May 2006

Highest amount owed £90,000

Top tip Overpay to reduce the term. Get regular statements as an incentive to keep on overpaying