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    • Dithering Dad
    • By Dithering Dad 3rd Jul 07, 7:33 PM
    • 4,230Posts
    • 8,150Thanks
    Dithering Dad
    The Mortgage Free Roll Of Honour
    • #1
    • 3rd Jul 07, 7:33 PM
    The Mortgage Free Roll Of Honour 3rd Jul 07 at 7:33 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 Former MSE Andrea; 21-02-2014 at 7:02 PM. Reason: added a p.s. by popular demand
Page 36
    • msathya2104
    • By msathya2104 25th Jan 19, 5:50 AM
    • 1 Posts
    • 1 Thanks
    thanks for sharing
    • Helsbelsgem
    • By Helsbelsgem 5th Mar 19, 8:07 AM
    • 1 Posts
    • 14 Thanks
    Oh my days! Today is a super good day
    a. The date you decided to become a MFW
    When I bought current house in 2007 I thought about it. At some point around then I read this forum and decided it would be such a relief to be mortgage free. If one loses a job or gets ill, there would only be the bills to cover.
    b. Mortgage Debt at its highest
    c. Mortgage-Free Date
    d. Your one pearl of wisdom.
    Over the years my salary increased, but I stayed thrifty, keeping costs down and increasing income in other ways. I overpaid the mortgage, increasing the amount over time. But give yourself a break at Xmas when itís an expensive month, and have a life!
    Keep costs down ideas - buy clothes in sales or on eBay, buy second hand cars, go on cheap holidays, only replace things when they break, check best prices on utilities once a year, pay off credit cards and debts in order of highest interest, really think about whether you need big purchases etc.
    Increase income ideas - eBay old stuff, do bits of extra work when possible, rent out room / campervan.
    e. This forum was inspirational
    f. Since 2007, overpaid by 58k+ and decreased term by 8+ years
    • Meka3256
    • By Meka3256 16th Apr 19, 12:54 PM
    • 26 Posts
    • 16 Thanks
    a. The date you decided to become a MFW

    b. Mortgage Debt at its highest

    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
    Last edited by Meka3256; 16-04-2019 at 12:57 PM.
    • lincoln-potter
    • By lincoln-potter 30th Apr 19, 10:29 AM
    • 884 Posts
    • 4,327 Thanks
    a. The date you decided to become a MFW

    b. Mortgage Debt at its highest

    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
    • Youthgonewild
    • By Youthgonewild 1st May 19, 6:56 AM
    • 120 Posts
    • 217 Thanks
    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
    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 April 2019: £86200.00
    • Simby
    • By Simby 4th May 19, 10:28 AM
    • 57 Posts
    • 61 Thanks
    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.
    Last edited by Simby; 04-05-2019 at 10:34 AM. Reason: Follow intructions
    • hiddenshadow
    • By hiddenshadow 21st May 19, 10:23 AM
    • 2,506 Posts
    • 11,495 Thanks
    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.
    Last edited by hiddenshadow; 02-06-2019 at 11:27 AM.
    Mortgage Free! 09/04/2019
    • beanielou
    • By beanielou 21st May 19, 8:09 PM
    • 63,645 Posts
    • 282,054 Thanks
    Great news hiddenshadow
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 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. ***Be the difference.***
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