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The Mortgage Free Roll Of Honour

edited 21 February 2014 at 9:02PM in Mortgage-Free Wannabe
757 replies 422.3K views
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  • edited 16 April 2019 at 1:57PM
    Meka3256Meka3256 Forumite
    34 posts
    Fifth Anniversary 10 Posts Combo Breaker Mortgage-free Glee!
    edited 16 April 2019 at 1:57PM
    a. The date you decided to become a MFW
    2016

    b. Mortgage Debt at its highest
    £165k

    c. Mortgage-Free Date
    September 2018

    d. Your one pearl of wisdom.
    Buy in an up and coming area of the SE, and then once maximum equity exists, move in the North

    Not sure how different my situation is to others as there are a lot of pages to read! I became mortgage free by moving from London to the North. I first bought a shared ownership flat in London in 2007. I was there 7 years, before buying a house in the then up and coming area of Hither Green. 4 years later I walked away with £160k and moved to a nice area in North Wales where this bought be a 3 bed semi. When I moved into the Hither Green house I expected to be there much longer, and was not planning to move out of London. However after spending 2015 abroad, I realised London did not have the same spark for me and decided to leave. It took me a while to figure out where to go, but once I did I sold as quickly as I could. It was great to say at 35 I no longer have to be worried about a mortgage
  • a. The date you decided to become a MFW
    2011

    b. Mortgage Debt at its highest
    £200k

    c. Mortgage-Free Date
    May 2019

    d. Your one pearl of wisdom.
    Use your time wisely, find a hobby thats in-expensive. It'll keep your spirits high whilst costs low.

    Mortgage free - 01/05/2019, mortgage high £200k 2011
  • YouthgonewildYouthgonewild Forumite
    152 posts
    100 Posts Second Anniversary
    I always love reading this. Well done you lot. Nice to see it can be done. I feel like I have centuries to go yet :rotfl:
    Mortgage balance October 2015: £99875
    Mortgage balance November 2017: £97583

    Mortgage balance November 2018: £90952.08
    Mortgage balance December 2018: £90470.65
    Mortgage balance January 2019: £88200.00
    Mortgage balance June 2020: £79561.39
  • edited 4 May 2019 at 11:34AM
    SimbySimby Forumite
    240 posts
    Mortgage-free Glee!
    ✭✭
    edited 4 May 2019 at 11:34AM
    May I please add myself to the mortgage free roll of honour ( how do I get the badge?)

    42 mortgage free by selling two properties in Aus and moving back home where we could buy mortgage free into our forever home.

    Mortgage debt at highest

    On main house 570k Aud so about 400k in pounds

    Date I decided to before mortgage free

    July 2018.

    Date I became mortgage free

    July 2018.

    How I did it

    Moved from Au sold expensive Sydney property before crash used equity to buy forever home.

    Pearl of wisdom

    Buy something you can afford, we chose not to spend 600k on a house and live a little outside in a slightly smaller house to become mortgage free ( 3 bed as opposed to 4. We will extend when we have the money saved.
  • edited 2 June 2019 at 12:27PM
    hiddenshadowhiddenshadow Forumite
    2.5K posts
    ✭✭✭✭
    edited 2 June 2019 at 12:27PM
    a. The date you decided to become a MFW as soon as we got the mortgage!
    b. Mortgage Debt at its highest £197,100 on 20/12/2013
    c. Mortgage-Free Date 09/04/2019 (bit of a cheat as we sold the house and haven't bought another yet! final mortgage balance was £91,715.72)
    d. Your one pearl of wisdom. make it into a game to see where you can cut back the budget and add a few extra pennies/pounds to the mortgage. (I tried to OP as often as possible, even if it was just a few pennies.)
    e. The MSE Mortgage guides and others that helped you various diaries
    f. And if you had a mortgage freedom diary on MFW, a link to it. https://forums.moneysavingexpert.com/showthread.php?t=5324614
    Mortgage Free! 09/04/2019
  • beanieloubeanielou Forumite
    71.6K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭✭
    Great news hiddenshadow :)
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 2 lbs **
    MFW. 9 months to go. B)
    "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.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
  • I_Love_compsI_Love_comps Forumite
    1.7K posts
    Fifth Anniversary 1,000 Posts Name Dropper Newshound!
    ✭✭✭
    I am reporting that of today we are mortgage free. For me the last 25 years have flown by - but they have had there struggles.
    I moved in to our little house ( never wanted a bigger house- my motto live within your means- never inherited or won a vast sum of money, so stayed here, nor had jobs with high wages). Moved in June 20th 1994, my DD was born in the Aug.
    Split with partner in 1998 - but managed to keep house on my wages and same mortgage (luckily-otherwise would have been looking at council housing). I met my new DH and we married and stayed here. There are only 2 of us now and I only work part-time, so this house suits us.

    A)Date Decided to become MF 20th June 1994
    B Mortgage debt at its highest £18,000
    CMortgage Free Date 20th June 2019
    D Always have a Re payment mortgage as you know you are paying the mortgage off in FULL, with no extras to pay at the end of the term

    E My mom helped with a deposit which as original price of house was £21,500

    F I did not have any Diary

    Good Luck to everyone still on the mortgage free wannabee journey.
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  • beanieloubeanielou Forumite
    71.6K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭✭
    I am reporting that of today we are mortgage free. For me the last 25 years have flown by - but they have had there struggles.
    I moved in to our little house ( never wanted a bigger house- my motto live within your means- never inherited or won a vast sum of money, so stayed here, nor had jobs with high wages). Moved in June 20th 1994, my DD was born in the Aug.
    Split with partner in 1998 - but managed to keep house on my wages and same mortgage (luckily-otherwise would have been looking at council housing). I met my new DH and we married and stayed here. There are only 2 of us now and I only work part-time, so this house suits us.

    A)Date Decided to become MF 20th June 1994
    B Mortgage debt at its highest £18,000
    CMortgage Free Date 20th June 2019
    D Always have a Re payment mortgage as you know you are paying the mortgage off in FULL, with no extras to pay at the end of the term

    E My mom helped with a deposit which as original price of house was £21,500

    F I did not have any Diary

    Good Luck to everyone still on the mortgage free wannabee journey.

    Well done :)
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 2 lbs **
    MFW. 9 months to go. B)
    "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.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
  • YouthgonewildYouthgonewild Forumite
    152 posts
    100 Posts Second Anniversary
    Well done comps!
    Mortgage balance October 2015: £99875
    Mortgage balance November 2017: £97583

    Mortgage balance November 2018: £90952.08
    Mortgage balance December 2018: £90470.65
    Mortgage balance January 2019: £88200.00
    Mortgage balance June 2020: £79561.39
  • doingitanywaydoingitanyway Forumite
    5.9K posts
    Ninth Anniversary 1,000 Posts Name Dropper Mortgage-free Glee!
    ✭✭✭✭
    Well done you!
    If you have built castles in the air, your work should not be lost; that is where they should be. Now put the foundations under them.
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