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  • FIRST POST
    • Dithering Dad
    • By Dithering Dad 3rd Jul 07, 8:33 PM
    • 4,230Posts
    • 8,150Thanks
    Dithering Dad
    The Mortgage Free Roll Of Honour
    • #1
    • 3rd Jul 07, 8:33 PM
    The Mortgage Free Roll Of Honour 3rd Jul 07 at 8:33 PM
    Welcome to the Mortgage-Free Roll of Honour.

    This is for Mortgage-Free Wannabees who are no longer Wannabees.

    Please report

    a. The date you decided to become a MFW
    b. Mortgage Debt at its highest
    c. Mortgage-Free Date
    d. Your one perl of wisdom.
    e. The MSE Mortgage guides and others that helped you
    f. And if you had a mortgage freedom diary on MFW, a link to it.

    And huge congratulations

    (I thought that we MFW's deserved a roll of honour too )

    PS Please no one else post - let's keep this a pure record of successes


    This Forum Tip was included in MoneySavingExpert's weekly email

    Don't miss out on new deals, loopholes, and vouchers

    Last edited by MSE Andrea; 21-02-2014 at 8:02 PM. Reason: added a p.s. by popular demand
Page 33
    • Kittenkirst
    • By Kittenkirst 2nd Mar 18, 1:43 PM
    • 1,889 Posts
    • 10,124 Thanks
    Kittenkirst
    a. The date you decided to become a MFW - At some point in 2006/2007..
    b. Mortgage Debt at its highest - 107k
    c. Mortgage-Free Date - Today 2nd March 2018.
    d. Your one perl of wisdom - no OP is too small - they all add up in the end.
    e. people that helped you - MSE forums have been a huge inspiration, and Martin of course too!!
    f. And if you had a mortgage freedom diary on MFW, a link to it - sorry no diary, but been lurking here for few years
    Originally posted by pennystretcher
    Congratulations Pennystretcher
    2018 MFW #20 - OP 1799.61/ 3000 60%
    Mar: 218 Apr: 528.91 May: 361.07

    Mortgage Oct '16 170.995 LTV 90% end: Nov 2041
    Overpayments 2016 255.50 2017 2600.40
    • Magsy99
    • By Magsy99 3rd Mar 18, 5:44 PM
    • 3 Posts
    • 6 Thanks
    Magsy99
    Mortgage decision to be mfw
    1995 with a 35,000 mortgage.
    Cant recall the highest amount.
    Mortgage free 2011 thanks to the Virgin one account. Before that we had an endowment and interest only setup.
    1 pearl of wisdom, overpayments as much as you can, treat it as a savings amount. Which it is as you save on interest payments.
    All done before I knew about MSE and no diary.
    Still in the Virgin one account as it will be easier to move house if we want to.
    • kittieviolet
    • By kittieviolet 8th Mar 18, 6:28 AM
    • 72 Posts
    • 183 Thanks
    kittieviolet
    Date decided to become Mortgage free: Oct 2009
    Mortgage debt at its highest: 91,000
    Mortgage free date: 7th March 2018
    Pearl of wisdom: save where you can it all adds up in the end
    People who have helped: MSE has been fab and frugal bloggers such as Meanqueen, Frugal queen and Frugalwoods
    I didn't keep a diary but I read most on the wannabe thread
    • JustAboutThere
    • By JustAboutThere 13th Mar 18, 12:38 AM
    • 509 Posts
    • 2,163 Thanks
    JustAboutThere
    a. The date you decided to become a MFW

    When I found out that my endowment policy wasn't going to pay off the mortgage, despite applying for and receiving a mis-selling payment.

    b. Mortgage Debt at its highest

    65,000

    c. Mortgage-Free Date

    Saturday, 10 March 2018

    d. Your one pearl of wisdom.

    I purchased for less than the maximum mortgage I was permitted (77,000). I really wish I'd paid a bit more for a house, rather than a 1-bedroom flat. Especially, since upstairs now rents his out and I've had a series of his tenants to contend with. Most: OK, a couple: not so much.

    When I say 'spent more', not so much that it crippled me financially, but just a LITTLE bit more room would be nice.
    • beanielou
    • By beanielou 24th Mar 18, 9:29 PM
    • 54,034 Posts
    • 214,152 Thanks
    beanielou
    Bumping this up.
    Would be great if it could be a sticky
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 11 lbs **

    "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.
    • Dippypud
    • By Dippypud 29th Mar 18, 2:10 PM
    • 1,714 Posts
    • 16,815 Thanks
    Dippypud
    Whoo Hoo happy days
    C.R.A.P.R.O.L.L.Z # 40 spanner supervisor.
    No problem can withstand the assault of sustained thought.
    Only after the last tree has been cut down. Only after the last fish has been caught. Only after the last river has been poisoned. Only then will you realize that money cannot be eaten.
    "l! ily yant ranya nar vanw"
    • telemarks
    • By telemarks 29th Mar 18, 2:17 PM
    • 161 Posts
    • 115 Thanks
    telemarks
    Just found this, so posting our contribution

    a. The date you decided to become a MFW: During the Banking crash of 2007, I got worried about our savings in the bank

    b. Mortgage Debt at its highest: 60k

    c. Mortgage-Free Date: July 2007

    d. Your one perl of wisdom: Get rid of debt, don't save. For a few years before the crash I had swopped to a Offset Mortgage which was the best thing I ever did interest wise. However during the banking crash I thought it safest to use the savings to pay off the mortgage, and I don't regret that at all
    • doingitanyway
    • By doingitanyway 12th Apr 18, 8:12 PM
    • 3,033 Posts
    • 15,032 Thanks
    doingitanyway
    Still don't know how to get a debt free/mortgage free badge thing??
    JANUARY 2016/SECURED DEBT=24,822/March 2018=0 DEBT FREE 23/03/18
    MORTGAGE FREE 25/07/16
    • northerngeezer
    • By northerngeezer 20th Apr 18, 5:45 PM
    • 1,007 Posts
    • 9,903 Thanks
    northerngeezer
    Mortgage taken out 1993
    Highest Amount 35k
    Paid off 2002

    Don't save...instead try your best if possible to pay it off ASAP
    • venison
    • By venison 29th Apr 18, 8:31 PM
    • 2,051 Posts
    • 2,199 Thanks
    venison
    I never thought to register on here, have been mortgage free for 7 years next month, at it highest the mortgage was 50k and my one pearl of wisdom would be when you can do as we did and down-size, ok we have less room but less worry (and less cleaning lol)
    Ex Board Guide
    • buyhighselllow
    • By buyhighselllow 1st May 18, 7:36 PM
    • 91 Posts
    • 46 Thanks
    buyhighselllow
    Mortgage free for 4 years, paid off 6 years early at age 46.
    We had an extension done 9 years ago which doubled the mortgage, I kept the term the same and upped the payments. 4 years ago I decided I would just feel better without a mortgage and paid it off with savings, at the same time dropping to a 4 day week to improve quality of life and knowing the ball and chain of a mortgage had gone.
    Over 2K made from bank switches and P2P incentives since 2016
    • missile
    • By missile 3rd May 18, 7:13 AM
    • 9,443 Posts
    • 4,698 Thanks
    missile
    Mortgage-Free Roll of Honour.

    This is for Mortgage-Free Wannabees who are no longer Wannabees.

    Please report

    a. The date you decided to become a MFW :
    This was always my ambition
    b. Mortgage Debt at its highest :
    95,000
    c. Mortgage-Free Date
    2006
    d. Your one pearl of wisdom.
    Think before you buy
    e. The MSE Mortgage guides and others that helped you
    No
    f. And if you had a mortgage freedom diary on MFW, a link to it.
    N/A
    "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
    Ride hard or stay home
    • Youthgonewild
    • By Youthgonewild 3rd May 18, 1:32 PM
    • 36 Posts
    • 43 Thanks
    Youthgonewild
    Congratulations to everyone who made this Roll
    • lamarsi
    • By lamarsi 4th May 18, 6:10 PM
    • 791 Posts
    • 3,822 Thanks
    lamarsi
    A) when did I decide to pay off the mortgage?
    Probably about 2012 ish when I qualified as a nurse and had financial security again.
    B) mortgage at the highest was around 78000 with all the arrears Id consolidated.
    C) mortgage free date TODAY! Star Wars day -May the fourth be with you sorry
    D) one piece of advice- each time I got a new deal I would knock a year or two off and soon got used to the increased payments - when my last fixed deal came to and end I threw everything I had at it - no payment too small and when I wanted to online shop for things I didnt need I would put the items in my basket look at the total then transfer the money I would have spent onto my mortgage
    E) the MSEs overpayment calculator was my main motivation I was obsessed about paying any more interest
    Last edited by lamarsi; 04-05-2018 at 6:17 PM.
    get rid of all the pounds by summer !!
    weight loss 3/42 lb
    Debt from 1st March:
    Was -8900 NOW-5000 PAID- 3900
    Get rid of the weight, pay the debt, then get myself a campavan!
    • beanielou
    • By beanielou 4th May 18, 8:07 PM
    • 54,034 Posts
    • 214,152 Thanks
    beanielou
    A) when did I decide to pay off the mortgage?
    Probably about 2012 ish when I qualified as a nurse and had financial security again.
    B) mortgage at the highest was around 78000 with all the arrears Id consolidated.
    C) mortgage free date TODAY! Star Wars day -May the fourth be with you sorry
    D) one piece of advice- each time I got a new deal I would knock a year or two off and soon got used to the increased payments - when my last fixed deal came to and end I threw everything I had at it - no payment too small and when I wanted to online shop for things I didnt need I would put the items in my basket look at the total then transfer the money I would have spent onto my mortgage
    E) the MSEs overpayment calculator was my main motivation I was obsessed about paying any more interest
    Originally posted by lamarsi
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 11 lbs **

    "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.
    • Youthgonewild
    • By Youthgonewild 8th May 18, 12:36 PM
    • 36 Posts
    • 43 Thanks
    Youthgonewild
    Congratulations lamarsi
    • sparker123
    • By sparker123 11th May 18, 8:19 AM
    • 3 Posts
    • 0 Thanks
    sparker123
    a. The date you decided to become a MFW :
    round about 2000
    b. Mortgage Debt at its highest :
    50,000
    c. Mortgage-Free Date
    2007
    d. Your one pearl of wisdom.
    Be born before the prices went up (!) Seriously though, if you can go and earn more money some place then do it. I had to commute 160 miles a day for 10 years, Not much fun however there is no way I could have paid down my mortgage so quickly on the wages available near where I bought the house. I think too many people sit around in low paying jobs, if you have a good job then leave it !

    I got made redundant in the late 1990's which gave me a good pile of cash which I put towards my mortgage. I was initially sold an interest only mortgage with PPI and an expensive home insurance policy from the lender to boot. Suffice to say I soon switched this to a repayment mortgage ( did a search online for best deal). My house is now worth almost 4 times what it was in 1999. I was made redundant again in 2009 but had already paid off my mortgage so have effectively been on a mini retirement since the age of 36 Currently looking for a new job and just about able to live off job seekers allowance.

    It's not all great, being mortgage free can definitely make you a bit lazy and you need to find a new challenge in life! Also trying to find a life partner who has 'compatible finances' can be a bit challenging, it's a definite consideration since if kids were ever involved and marriage then you wonder if you could end up renting again some how with 1/3 ending in divorce. I /seriously/ doubt I'd ever afford to buy another house.

    e. The MSE Mortgage guides and others that helped you
    N/A
    f. And if you had a mortgage freedom diary on MFW, a link to it.
    N/A
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