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Baby steps to mortgage freedom for beanielou.
Comments
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Big big huggles to you Karmcat.
You look after yourself too.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.1 -
Thanks beanie, I will :kisses3:2023: the year I get to buy a car1
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I think KC is very wise, don't rush into a decision at the moment, hope things improve with DS soon whatever you decide.Mortgage OP 2025 £6250/7000Mortgage OP 2024 £7700/7000
Mortgage balance: £36,210
Money making challenge £38/400
”Do what others won’t early in life so you can do what others can’t later in life” (stolen from Gally Girl)1 -
To be fair to my DS there is also his GF who has been living here for nearly a year.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.1 -
Beanie it is non of my business and please dont feel you need to answer in anyway ... are DS and GF contributing to the house? Just wondering if they do if there was a wee bit extra you could have a treat with
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From me and Smilie xx
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What level of cover do you have compared to the amount of mortgage?Mortgage at 01.01.14 £119,481.83:eek: today £0 Emergency fund £5.5/5.5k & £200/200 cash.:jWeight 24/02/19 14st 7lb now 12st determined to stop defining myself by my mistakes. Progress not perfection.:T100%through my 1% mortgage challenge. 100% through my pb challenge.1
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in_need_of_direction wrote: »What level of cover do you have compared to the amount of mortgage?
Just under amount needed to pay off mortgage as it stands I think.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.1 -
Could they/he pay it from within their own income, beanie? Or would they have to sell it? Is there equity in that situation, that would act as an inheritance, even without the extra insurance money?
Obviously, those are detailed questions you don't necessarily want to put the answers to them on here ... but underlying those practicalities, is the issue of what's brought you to thinking about this, and whether *that* should be addressed? Between you and whoever it is.
Is that money better used by spending on improvements in the house, or savings, or paying down the mortgage? Again, don't necessarily put the answers on the thread ...
HTH2023: the year I get to buy a car1 -
Beanie you may want to consider seeing if you can get cheaper cover as a kinda half way house. If DS is relatively self sufficient now, I'd cancel and use half to improve your quality of life (a good fitting bra;)) and the other half to pay down or put towards improvements. I last changed my mortgage five years ago so my two would have been 23 and 24 and I was advised by the mortgage adviser not to bother with the insurance particularly as I have some cover through work. Have you anything else like that in place?Mortgage at 01.01.14 £119,481.83:eek: today £0 Emergency fund £5.5/5.5k & £200/200 cash.:jWeight 24/02/19 14st 7lb now 12st determined to stop defining myself by my mistakes. Progress not perfection.:T100%through my 1% mortgage challenge. 100% through my pb challenge.1
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