The Mortgage Free Roll Of Honour

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  • lamarsi
    lamarsi Posts: 805 Forumite
    First Anniversary Combo Breaker Mortgage-free Glee!
    edited 4 May 2018 at 6:17PM
    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 I’d consolidated.
    C) mortgage free date TODAY! Star Wars day -May the fourth be with you sorry :o
    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 didn’t 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 MSE’s overpayment calculator was my main motivation I was obsessed about paying any more interest
    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! :T
  • beanielou
    beanielou Posts: 90,183 Ambassador
    Academoney Grad I'm a Volunteer Ambassador Mortgage-free Glee! Name Dropper
    lamarsi wrote: »
    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 I’d consolidated.
    C) mortgage free date TODAY! Star Wars day -May the fourth be with you sorry :o
    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 didn’t 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 MSE’s overpayment calculator was my main motivation I was obsessed about paying any more interest

    :j :T :D
    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*** ~~Japanese proverb.     ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • Youthgonewild
    Youthgonewild Posts: 169 Forumite
    First Anniversary First Post
    :T Congratulations lamarsi
    Mortgage balance October 2015: £99875 Mortgage balance June 2023: £69999.40
  • sparker123
    sparker123 Posts: 18 Forumite
    Mortgage-free Glee!
    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
  • juststuff123
    juststuff123 Posts: 295 Forumite
    First Anniversary Photogenic First Post Mortgage-free Glee!
    It's finally my turn to get a mortgage free badge! Mortgage paid in 8yrs 4mos - 16yrs 8mos early!

    a. The date you decided to become a MFW :
    I'm not sure really, it was probably a 2 or 3 years into my mortgage, when my salary increased making it a possibility.

    b. Mortgage Debt at its highest :
    10th Feb 2010 = £66,455

    c. Mortgage-Free Date
    11th June 2018

    d. Your one pearl of wisdom.
    Want it - you need to want it more than anything else. It's just too easy to put it off for more immediate gratification, such as fancy holidays, sky TV etc. Oh and make a sensible budget and stick to it (Or spend less than it!)

    e. The MSE Mortgage guides and others that helped you
    All the diaries on the MFW board but especially SuperSecretSquirrel and GallyGirl.

    f. And if you had a mortgage freedom diary on MFW, a link to it.
    https://forums.moneysavingexpert.com/showthread.php?t=4957334
    GOAL:- £350k in Savings by September 2025 SAVINGS: – £274,704 COMPLETE GOALS - Debt Free, Mortgage Free, £250k Savings Save 12k in 2024 #12 = £46,452 / £130,000
  • suki1964
    suki1964 Posts: 14,313 Forumite
    Name Dropper Photogenic First Anniversary First Post
    Congratulations to you all and welcome to the club

    Nothing is as good as knowing no matter what hard times we may hit, our home is ours

    Well done you all x
  • JayWalker
    JayWalker Posts: 110 Forumite
    First Anniversary Combo Breaker Mortgage-free Glee!
    a. The date you decided to become a MFW Um, when we got married, 1990
    b. Mortgage Debt at its highest Two properties, £350k including bridging loan
    c. Mortgage-Free Date April 2016, when we sold one
    d. Your one perl of wisdom. Debt is the slipperiest slope
    e. The MSE Mortgage guides and others that helped you Um, you weren't around when we started out
    f. And if you had a mortgage freedom diary on MFW, a link to it. Nope, sorry

    We've done it the old-fashioned way, working hard, saving and avoiding debt. The plans took a large torpedo when I retired early on health grounds, but we compensated for my lack of earnings by more active money management. We have benefited hugely from the monthly emails and love to know there are other people who see debt as a bad thing.

    Martin - you rock!
  • beanielou
    beanielou Posts: 90,183 Ambassador
    Academoney Grad I'm a Volunteer Ambassador Mortgage-free Glee! Name Dropper
    WEll done JayWalker :D
    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*** ~~Japanese proverb.     ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • Dalradian
    Dalradian Posts: 165 Forumite
    First Anniversary First Post Combo Breaker Mortgage-free Glee!
    a. The date you decided to become a MFW: sometime in 2014, started diary March 2015 after lurking for a while
    b. Mortgage Debt at its highest: £144,000 on main property, £70,000 on old flat being rented out as BTL
    c. Mortgage-Free Date: June 2018
    d. Your one pearl of wisdom. even a £50 repayment helps, keep in mind those important markers - mine was getting under £100k on my main mortgage which really motivated me, and got me into the habit of overpaying
    e. The MSE Mortgage guides and others that helped you: A Frayed Knott was very encouraging, and Edinburger
    f. And if you had a mortgage freedom diary on MFW, a link to it
    https://forums.moneysavingexpert.com/showthread.php?t=5210243
    Mortgage 2020 ~£127,000
  • Youthgonewild
    Youthgonewild Posts: 169 Forumite
    First Anniversary First Post
    Congrats Dalradian
    Mortgage balance October 2015: £99875 Mortgage balance June 2023: £69999.40
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