The Mortgage Free Roll Of Honour
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wow, great info thanks for sharing such an informative information.1
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Claireybeau wrote: »So now we are Mortgage free are there any steps we should take - I saw a post saying about removing mortgage provider as an interested party on your deeds but struggling to see how to do it on land registry page and to understand as to is it something I want to be doing - also do I need a copy of my deeds as looks like there is a charge to get this....
As far as I know mortgage provider is removed free of charge to those that stay in England.
Stay in Scotland and it can be anything from £250 - £400 to get the mortgage provider removed.
Deeds were sent to me as soon as I had paid off the mortgage (Scotland) with no charge, however it may depend on who you mortgaged with and where you stay.Always have 00.00 at the end of your mortgage and one day it will all be 0's :dance:MF[STRIKE] March 2030[/STRIKE] Yes that does say 2030 :eek: Mortgage Free 21.12.18 _party_Now a Part Timer from 27.10.192 -
Amazing, well done! That must be a great feelingWell I just logged into the Banking Online and it feels real. The Mortgage account has gone from the lists of accounts. After 26 years and two houses we are mortgage free. Went into the branch yesterday and paid it off. The cashier said 'congratulations' as we walked out of our branch.
We decided to become mortgage free August 2016 with a period of restructures in both our work - the Building Society said, they thought we could do it in 5 years if we set our minds to it. We did it in 3.
b. Mortgage Debt at its highest - £167,000 but at point of the decision £115,000
c. Mortgage-Free Date - 7/9/19
d. Your one perl of wisdom. - A little makes a lot of difference I would drip £10 - £499 a month in over payments into the account depending on the months outgoing and set the account to reduce term of mortgage for over payments, using the 10% penalty free payments each year.
So there we go for the first time in our lives we are completely debt free. And wiped 13 years off the Mortgage.
01.05.2019 - Re-Mortgage - £142,000 :eek::eek::eek: Total overpaid to date: £15,584.33.
MFW #52 £9000/£120001 -
A) The day we decided to become mortgage free ... after we very stupidly added to it in 2006 ( originally taken out in 1988) 🙄
Mortgage Debt at its highest £35035.00
C) Mortgage Free Date ... June 2019
D) Pearl of Wisdom ...... Do Not Add to the mortgage 😡and over pay each month as much as you can
E) Guides who helped .... MSE site overall with tips to save money overall
F) MFW diary .... sorry I didn’t as I don’t think I’m interesting enough for thatGrocery spends £193.44/ £70 per week or £303 per month3 -
Well done dollypeeps:TI 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.0 -
dollypeeps wrote: »A) The day we decided to become mortgage free ... after we very stupidly added to it in 2006 ( originally taken out in 1988) 🙄 Mortgage Debt at its highest £35035.00
C) Mortgage Free Date ... June 2019
D) Pearl of Wisdom ...... Do Not Add to the mortgage 😡and over pay each month as much as you can
E) Guides who helped .... MSE site overall with tips to save money overall
F) MFW diary .... sorry I didn’t as I don’t think I’m interesting enough for that
Amazing :j Well done! What's next for you?01.05.2019 - Re-Mortgage - £142,000 :eek::eek::eek: Total overpaid to date: £15,584.33.
MFW #52 £9000/£120000 -
a. The date you decided to become a MFW
Sometime in 2009 when I joined mse and sold btl
b. Mortgage Debt at its highest
£210,000
c. Mortgage-Free Date
25/9/2019
d. Your one perl of wisdom.
Just keep chipping away every little bit counts. It's also important to have a life and do the things you enjoy.
e. The MSE Mortgage guides and others that helped you
Mfw thread helped me to stay focused.
f. And if you had a mortgage freedom diary on MFW, a link to it.
No diary
We bought our house in 2005 and kept our 1st house and remortgaged it on a btl as we just couldn't sell it. The combined mortgage was around £210,000. Our mortgage deal came to an end during the banking crisis of 2007. Feeling jittery, we decided on a 15 year fixed deal at 5.59% with Northern Rock!!! We decided to sell the btl in 2009 as we just weren't cut out to be landlords. We were then left with a mortgage of around £80,000. The 15 year fixed enabled us to make unlimited payments as long as we didn't completely clear it before 2022 which would then incur a £3800 penalty. We have left £50 there. We have paid the mortgage 8 years and 7 months early and at 5.59% interest I guess that means we have saved ourselves alot of money. Were not sure what next as we are rambling around in a 4 bedroom house as both kids have moved on but we do like it here. We will look into retirement plans and boost the savings as I'm 50 an hubby is 55.Mortgage free 25/9/2019 8years and 7 months early 😁😁😁2 -
Hello all!
I decided to become mortgage free the day the house transferred into my own name after my divorce. 1 August 2016.
My debt was £67000.
I became mortgage free on 17 October 2017 at the age of 40 and 3 weeks! 3 years and 2 months after it was transferred into my sole name.
My pearls of wisdom are: save! Set a target and then try to smash it. I saved with a good old piggy bank for change, and rounded up my account every evening and transferred the pence into a savings account.
I also saved any refunds or rebates I got because in my head it was money I had already spent.
Save on pay day. Take out what is affordable as soon as you get it then it's not readily available for the impulse purchases.
My other pearl is work out the interest. I paid the 10% fee free allowance every year. I had paid this year's by April, so I worked out how much I would pay in charges against how much I would save in interest. This worked every month, in my case.
Finally, I got it to a manageable amount just before I had to change package. I went onto the tracker rate that made no charges for overpayments. I only made one "proper" mortgage payment on that plan, so the inflated interest rate didn't matter.
I've done it!!!
My children have security and that is the most important thing in the world to me.
Keep going mortgage free-ers!!! It's possible! :TThe aim is to be mortgage free by 2020. :j:j3 -
Libranharry wrote: »Hello all!
I decided to become mortgage free the day the house transferred into my own name after my divorce. 1 August 2016.
My debt was £67000.
I became mortgage free on 17 October 2017 at the age of 40 and 3 weeks! 3 years and 2 months after it was transferred into my sole name.
My pearls of wisdom are: save! Set a target and then try to smash it. I saved with a good old piggy bank for change, and rounded up my account every evening and transferred the pence into a savings account.
I also saved any refunds or rebates I got because in my head it was money I had already spent.
Save on pay day. Take out what is affordable as soon as you get it then it's not readily available for the impulse purchases.
My other pearl is work out the interest. I paid the 10% fee free allowance every year. I had paid this year's by April, so I worked out how much I would pay in charges against how much I would save in interest. This worked every month, in my case.
Finally, I got it to a manageable amount just before I had to change package. I went onto the tracker rate that made no charges for overpayments. I only made one "proper" mortgage payment on that plan, so the inflated interest rate didn't matter.
I've done it!!!
My children have security and that is the most important thing in the world to me.
Keep going mortgage free-ers!!! It's possible! :T
Great result:TI 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.1 -
I am 41 years old this year, and owned this flat for 12+ years. Today I've paid off the mortgage in lump sum.
a. The date you decided to become a MFW
Since I've joined this forum 2015 and read through many inspirational stories on here.
b. Mortgage Debt at its highest
Small mortgage of 65000GBP - Start date of July-2007
c. Mortgage-Free Date
Today - 20-Oct-2019
d. Your one pearl of wisdom.
The saving rate is so low now. I selected to pay off my mortgage as I was getting low saving rate from bank. By paying off the Mortgage, I am saving nearly 1,000GBP/year in mortgage interest.
e. The MSE Mortgage guides and others that helped you
This forum.
f. And if you had a mortgage freedom diary on MFW, a link to it.
I do not have a diary.
My next plan is to save up to buy another bigger property in 2 years time as my children are growing up. The current mortgage free will assist me to save up to a bigger deposit for the next house. I am aiming to buy a 4 bedrooms house, and rent out the existing flat after we have moved out.
Minigiant.2
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