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    • unhappy_shopper
    • By unhappy_shopper 3rd Apr 12, 5:07 PM
    • 1,300Posts
    • 7,055Thanks
    My journey to Mortgage-freedom
    • #1
    • 3rd Apr 12, 5:07 PM
    My journey to Mortgage-freedom 3rd Apr 12 at 5:07 PM
    Hi all,

    I have been a lurker for too long, posting sometimes and without a dairy. So, I thought I would rectify that by creating a diary to remind myself of my journey to being mortgage free.

    I have signed up for the MFiT-T2 challenge as #77 and MFW-2012 as #34.

    Background: Our MFW journey started in Feb. 2007 when we bought our first home in UK. We had paid off a large chunk by May 2011, when we bought our second home as it is convenient for my OH's job. So now we have 2 mortgages with a combined outstanding amount of approx. £138K. Our major expenses are university tuition fees for DS1 @overseas rate and school fees for DS2 (independent school). Next comes mortgage in the priority of things.

    I do small things such as using vouchers for grocery shopping, surveys for Amazon vouchers, cashback on most online purchases. All these go into the OP pot. I have recently switched to Halifax Reward account for the monthly £5 reward. Hope to be MF within the next 5-6 years.

    Best Regards,

    ( I am not unhappy in life, just unhappy to part with my hard-earned cash while shopping - makes me think twice before I hand over my CC to pay at the till)
    Last edited by unhappy_shopper; 18-04-2012 at 6:46 PM.
    Mortgage: @ Feb. 2007: £133,200; Apr. 2011: £24,373; May 2011: £175,999; Jun 2013: ~£97K; Mar. 2014 £392,212.73; Dec. 2015: £327,051.77; Mar. 2016: ~£480K; Mar. 2017 £459,669.56
Page 22
    • unhappy_shopper
    • By unhappy_shopper 14th Oct 16, 10:27 PM
    • 1,300 Posts
    • 7,055 Thanks
    With all Brexit-related stuff going on and the plummeting sterling, I am hoping that the current low interest rates will hold on for some time so that the mortgage balances can be reduced further. This year, I will not be contributing to the ISA, but choosing pension instead to fully make use of the pension relief before it disappears.

    We have made a big OP to one of the mortgages; still a long way to go.

    Good night :-)
    Mortgage: @ Feb. 2007: £133,200; Apr. 2011: £24,373; May 2011: £175,999; Jun 2013: ~£97K; Mar. 2014 £392,212.73; Dec. 2015: £327,051.77; Mar. 2016: ~£480K; Mar. 2017 £459,669.56
    • misscousinitt
    • By misscousinitt 17th Oct 16, 1:31 PM
    • 3,506 Posts
    • 20,109 Thanks
    Good to see you US!

    Mortgage Free x 1 03.11.2012 - House rented out Feb 2016
    Mortgage No 2: £96,928.40 (07.03.2017)
    OP's to Date £300

    Renovation Fund:£944.75; Kitchen Fund (including re-wiring): £notalotleft; Roof Fund £0 - all done
    Nectar Points Balance: £35.49
    • unhappy_shopper
    • By unhappy_shopper 2nd Mar 17, 8:17 PM
    • 1,300 Posts
    • 7,055 Thanks
    Posting after quite a long hiatus! In the meantime, we have been steadily making OPs; but the outstanding mortgage is still huge. I will be winding up the S&S ISA this month and putting the proceeds in SIPP to avail the free money (relief) government pays into my pension fund :-) Hope everything goes smoothly as I have already sold my shares and have only cash in my account in preparation for this move.

    Hope my fellow MFWs are making steady progress in tackling their mortgages. Good night.
    Mortgage: @ Feb. 2007: £133,200; Apr. 2011: £24,373; May 2011: £175,999; Jun 2013: ~£97K; Mar. 2014 £392,212.73; Dec. 2015: £327,051.77; Mar. 2016: ~£480K; Mar. 2017 £459,669.56
    • unhappy_shopper
    • By unhappy_shopper 28th Mar 17, 7:52 PM
    • 1,300 Posts
    • 7,055 Thanks
    I have now closed my S&S ISA and moved the entire funds to my new SIPP. I will be holding this in cash for the time being and planning to make investments later on. On the mortgage OP front, things are moving at a snail's pace.
    Mortgage: @ Feb. 2007: £133,200; Apr. 2011: £24,373; May 2011: £175,999; Jun 2013: ~£97K; Mar. 2014 £392,212.73; Dec. 2015: £327,051.77; Mar. 2016: ~£480K; Mar. 2017 £459,669.56
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