The "Mortgage-free in 2025-30" club!

clarew

Still can't believe there's a thread for us hoping to do it in 10yrs. Spent a long time being envious of the mfit club as knew I could never do that, but finally our time has come. Just hope the predicted interest rises go up slowly to help us on our way, and that life expenses don't get in the way!

Firegirl

I know Clarew - I really hope I can do it too - but redundency might get me thrown out of the club in a spectacular fashion!!!!

turtlemoose

hello fellow mfw-ers have had a mfw break due to being a little busy getting married

back to reality with a bump now though, and back to the grind - now catching up on everyone's diaries and progress.

Mortgage news for me is that next week I'm meeting with my mortgage advisor to (hopefully) do a product switch making my residential-with-consent-to-let an actual proper buy-to-let mortgage, and at the same time having it valued and mortgaging up to 75% of the value. Going by Rightmove prices, even if I go bottom end of the scale this will release 12k after fees etc so then we can get cracking with all sorts of work on the house we live in trying not to get ahead of myself and spend it mentally before I even know if it will be approved!!!

Also the residential one can switch with existing lender in mid Sept (or move to other provider from January) so have been crunching the numbers and it's looking like paying £250 for Natwe$t to re-value it will be worth it to get us in to the sub-80 LTV band.... but will have to wait another month before they'll even talk to me about it!

lippy1923

turtlemoose wrote: »

hello fellow mfw-ers have had a mfw break due to being a little busy getting married

back to reality with a bump now though, and back to the grind - now catching up on everyone's diaries and progress.

Mortgage news for me is that next week I'm meeting with my mortgage advisor to (hopefully) do a product switch making my residential-with-consent-to-let an actual proper buy-to-let mortgage, and at the same time having it valued and mortgaging up to 75% of the value. Going by Rightmove prices, even if I go bottom end of the scale this will release 12k after fees etc so then we can get cracking with all sorts of work on the house we live in trying not to get ahead of myself and spend it mentally before I even know if it will be approved!!!

Also the residential one can switch with existing lender in mid Sept (or move to other provider from January) so have been crunching the numbers and it's looking like paying £250 for Natwe$t to re-value it will be worth it to get us in to the sub-80 LTV band.... but will have to wait another month before they'll even talk to me about it!

Congrats on getting married Turtlemoose. I'm doing it on saturday Kinda getting a tad too excited now, even if the weather is meant to be pants.

Clarew - Fingers crossed IR's don't go anywhere for a while. We have been talking about a rate rise for years now so hopefully we will continue talking about it and it never happening for a few more years .

turtlemoose

got my AIP for the btl remortgage

amycool

Congratulations to those getting married!

turtlemoose - great news!

I have one more year before the fix runs out, so I'm hoping interest rates will stay nice and low until then. We'll have far less to overpay by then so we can fix for longer.

Firegirl

Congrats on the weddings!!!

I have avoided redundancy for now- next round is January next year! So this is better for mfw but maybe not my sanity. It's like waiting for the inevitable!

Firegirl

How's everyone getting on? I've just worked out that I'm hoping to be mortgage neutral by 2022. Won't be mortgage free by then but it's a good wee interm goal.

Has anyone else worked out when they'll be mortgage neutral rather than mortgage free?

clarew

Haven't thought about mortgage neutral yet.....in the last 5 weeks all I've thought about is how expensive the school holidays are! Especially with the 4 fridge grazers I have....10 am post breakfast and they're in the fridge looking for food!
If they're not at home looking for endless food supplies the. We are out and about spending money on stocking up the fridge (!) and making picnics for days out!

Aww, you got to love them but hey I can't wait for August pay day to come around!

Firegirl

I'm with you with the grazers! No food waste in this house either!!!! Schools are back in Scotland but they can make a fair old effort between home time and bed time too! Lol