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Baby steps to mortgage freedom for beanielou.
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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*** in ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger.
One debt remaining. Home improvement loan.[/b] [11 months left.[/b]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 2026 £1920/2000Mortgage balance: £29,386
Make £50 a month Jan £20, Feb £0, March £31, Apr £20, May £30, Jun £120, Jul £0, Aug £45, Sept £0, Oct £51 -
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*** in ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger.
One debt remaining. Home improvement loan.[/b] [11 months left.[/b]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?June 2026, Mortgage free, Emergency fund fully funded & £200/200 cash maximum pb holding .:jWeight 12st challenge 11st 2lb
Gift to children challenge £40k in 2 years. Short term gift challenge 7 presents and $1300 can by September.
Determined to stop defining myself by my mistakes. Progress not perfection. I’m not perfect but I’m good enough.
https://forums.moneysavingexpert.com/discussion/6673398/hopefully-cruising-with-focus-towards-retirement#latest1 -
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*** in ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger.
One debt remaining. Home improvement loan.[/b] [11 months left.[/b]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?June 2026, Mortgage free, Emergency fund fully funded & £200/200 cash maximum pb holding .:jWeight 12st challenge 11st 2lb
Gift to children challenge £40k in 2 years. Short term gift challenge 7 presents and $1300 can by September.
Determined to stop defining myself by my mistakes. Progress not perfection. I’m not perfect but I’m good enough.
https://forums.moneysavingexpert.com/discussion/6673398/hopefully-cruising-with-focus-towards-retirement#latest1
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