Want to be mortgage free…
in Mortgage-free wannabe
5 replies 303 views
Wow, it’s been a while since I’ve been on these forums. Used to be a regular in the debt free wannabe section many years ago.
I don’t own a property at the moment but am saving up to buy a property with either no mortgage or a little mortgage (£50,000). Ideally no mortgage, even if we are talking a studio flat or one bedroom. I just want the freedom of being mortgage free. Currently have £80,000 saved. (I feel very fortunate to have managed this alone!)
It’s really motivating reading all of your posts. Hope you don’t mind me posting here.
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I suppose from a practical point of view where are you looking to buy? That'll have a major impact.
1) Do you qualify for one of those Government schemes for first time buyers, and are you doing that already?
Current MF date: Feb 2032. (Previously: Jan 2033)
Target MF date: May 2027
(Overpayments needed to achieve this: £1,750pm!)
Joint spend: £391.09 (Nov)