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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
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    • 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
    • 10 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
    • 22 Posts
    • 7 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.
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