Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • debtfreeoneday
    • By debtfreeoneday 9th Jan 15, 1:22 PM
    • 2,675Posts
    • 9,045Thanks
    debtfreeoneday
    Mortgage free by 2023 (!)
    • #1
    • 9th Jan 15, 1:22 PM
    Mortgage free by 2023 (!) 9th Jan 15 at 1:22 PM
    Hello,

    I'm usually found hanging out on the DFW diaries thread as you'll see from my signature we are still tackling debt..

    However, my plan was always to start attacking the mortgage after that, but having just sat down and worked out how much we need to overpay to clear it in time for DH to retire at 65 latest, I think we need to start now!

    I still have to focus on clearing the debt as it's on a slightly higher interest rate, but I don't see any harm in starting to overpay the mortgage a little bit here and there as well. I've found a debt free wannabe diary massively helpful in helping me to focus and curb any unnecessary spending, so here I am!

    I don't expect masses of activity, but every little bit will help!

    We have 14 years left on our mortgage with £118,031.21 left to pay wef today (I just realised I could access this online - will regularly stalk this from now on!) We want it gone by December 2023. We pay £921.60 a month which is effectively my wages - it feels a huge amount as it is, but I know we have to do more.

    Would love some company for the next 9 years!!!
    Last edited by debtfreeoneday; 18-11-2016 at 11:38 AM.
    DFW (08/08) £64,346.53
    CC1 - GONE! ~~~ CC2 - GONE! ~~~ CC3 - £1549.85
    MFW (01/15) £118,031.21 £98,530.54
Page 91
    • mummytogirls
    • By mummytogirls 20th Feb 17, 9:41 PM
    • 5,168 Posts
    • 15,021 Thanks
    mummytogirls
    Hope work hasnt been too bad today DFOD, not long now xx
    Mummytogirls x

    £23164.32 - 12/12/10
    £7586.76 - 31/05/17 - 67.25% paid off
    • mummytogirls
    • By mummytogirls 25th Feb 17, 10:10 PM
    • 5,168 Posts
    • 15,021 Thanks
    mummytogirls
    Hoping you've had nothing to report hence why no posts DFOD xx
    Mummytogirls x

    £23164.32 - 12/12/10
    £7586.76 - 31/05/17 - 67.25% paid off
    • debtfreeoneday
    • By debtfreeoneday 27th Feb 17, 7:05 AM
    • 2,675 Posts
    • 9,045 Thanks
    debtfreeoneday
    All very quiet in here in general MTG, so I figured I wouldn't post as much if it's only for me.

    Pay day for DH last week and mine tomorrow.
    DFW (08/08) £64,346.53
    CC1 - GONE! ~~~ CC2 - GONE! ~~~ CC3 - £1549.85
    MFW (01/15) £118,031.21 £98,530.54
    • amycool
    • By amycool 27th Feb 17, 1:44 PM
    • 759 Posts
    • 3,213 Thanks
    amycool
    I hope things are quiet at school too and that their last half term is at least slightly enjoyable!

    Good to hear you have lots of stuff prepared and ready.

    We've just had half term - I'm enjoying holidays more as DD gets better at coping with them so it's harder to say goodbye!
    Mortgage (Start Sep 2014)- £70,295/£39,466.80- 43.85%
    Overpayments - £18935.03
    • mummytogirls
    • By mummytogirls 27th Feb 17, 8:03 PM
    • 5,168 Posts
    • 15,021 Thanks
    mummytogirls
    Quiet is good DFOD! xx
    Mummytogirls x

    £23164.32 - 12/12/10
    £7586.76 - 31/05/17 - 67.25% paid off
    • debtfreeoneday
    • By debtfreeoneday 1st Mar 17, 5:25 AM
    • 2,675 Posts
    • 9,045 Thanks
    debtfreeoneday
    BOOM - CC1 cleared with payday and now I promise to only use that for food and fuel and to clear it straight away, I'm only using it to gather the points!

    So onwards to CC3 - which isn't used at all, it's just all on interest free so one debt to throw it all at.

    I will get there one day!
    DFW (08/08) £64,346.53
    CC1 - GONE! ~~~ CC2 - GONE! ~~~ CC3 - £1549.85
    MFW (01/15) £118,031.21 £98,530.54
    • debtfreeoneday
    • By debtfreeoneday 2nd Mar 17, 7:27 AM
    • 2,675 Posts
    • 9,045 Thanks
    debtfreeoneday
    Updated the mortgage figure and it's £100,463.58 - really really hoping that goes under the magic 6 figures next month, I've got a bit to OP against it this month as well, only about £40, but every little bit to get it under that total would be awesome!

    Off to colour in a brick now!
    DFW (08/08) £64,346.53
    CC1 - GONE! ~~~ CC2 - GONE! ~~~ CC3 - £1549.85
    MFW (01/15) £118,031.21 £98,530.54
    • amycool
    • By amycool 2nd Mar 17, 2:02 PM
    • 759 Posts
    • 3,213 Thanks
    amycool
    Ooh, so close! It's painful watching ours go down so slowly (paid a lump at the start of the year so can't overpay anymore!) now, but nice seeing the savings grow.
    Mortgage (Start Sep 2014)- £70,295/£39,466.80- 43.85%
    Overpayments - £18935.03
    • greent
    • By greent 5th Mar 17, 1:59 PM
    • 5,869 Posts
    • 59,329 Thanks
    greent
    Ooh - so close - will be an amazing feeling when you break through that 100K
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) Bal 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    Next: BTL Mtge 12/16 £69786. 2017 OPs (#18) £3000/£3286
    Net sales 2017 £657.00/£500 PAYDOX17 £9887/£10k Decluttered 865/2017 items
    • debtfreeoneday
    • By debtfreeoneday 8th Mar 17, 8:16 PM
    • 2,675 Posts
    • 9,045 Thanks
    debtfreeoneday
    Bit hectic in DFOD land, ahead of schedule the littlies have started home ed so it's a bit busy!

    Still busy on surveys and trying to gain some pennies!
    DFW (08/08) £64,346.53
    CC1 - GONE! ~~~ CC2 - GONE! ~~~ CC3 - £1549.85
    MFW (01/15) £118,031.21 £98,530.54
    • mummytogirls
    • By mummytogirls 12th Mar 17, 3:58 PM
    • 5,168 Posts
    • 15,021 Thanks
    mummytogirls
    Hope all is going well with the home ed DFOD xx
    Mummytogirls x

    £23164.32 - 12/12/10
    £7586.76 - 31/05/17 - 67.25% paid off
    • debtfreeoneday
    • By debtfreeoneday 15th Mar 17, 7:11 PM
    • 2,675 Posts
    • 9,045 Thanks
    debtfreeoneday
    Thank you, normal service should resume in a few weeks when I've finished work!
    DFW (08/08) £64,346.53
    CC1 - GONE! ~~~ CC2 - GONE! ~~~ CC3 - £1549.85
    MFW (01/15) £118,031.21 £98,530.54
    • debtfreeoneday
    • By debtfreeoneday 18th Mar 17, 7:59 AM
    • 2,675 Posts
    • 9,045 Thanks
    debtfreeoneday
    Quick update. Still plodding along, finish work in two weeks. Just hit £20 payout on pr0filic, and up to just over £9 on 1poll again. £43 on Y0ugov so not far off there now.

    Juggling home ed, and work is hectic and the days are long at the mo.

    Had an issue arise with our waste water pit, initial quotes are £8000 plus, but surprisingly Im not stressing about it, what will be will be. Just not sure how we will pay for it right now. Trying to find insurance from last year to see if we can claim as the problem was first noticed when we had the previous insurance.

    Stripping the bathroom paper today and working on giving that a quick update, as cheap as poss
    DFW (08/08) £64,346.53
    CC1 - GONE! ~~~ CC2 - GONE! ~~~ CC3 - £1549.85
    MFW (01/15) £118,031.21 £98,530.54
    • mummytogirls
    • By mummytogirls 20th Mar 17, 8:20 PM
    • 5,168 Posts
    • 15,021 Thanks
    mummytogirls
    Glad all is going well DFOD, only 2 weeks to go!

    Booooo to the water problem , glad you're not getting stressed over it though xx
    Mummytogirls x

    £23164.32 - 12/12/10
    £7586.76 - 31/05/17 - 67.25% paid off
    • amycool
    • By amycool 21st Mar 17, 7:24 PM
    • 759 Posts
    • 3,213 Thanks
    amycool
    I think I would have vomited if someone had quoted me £8000 so well done for not stressing!

    I can't imagine how exhausting life must be right now with home ed and work but not long to go now. It's good to know that your kids are out of that negative environment. I'm very thankful that my DD's school have really stepped up since our meeting and helping DD to cope.
    Mortgage (Start Sep 2014)- £70,295/£39,466.80- 43.85%
    Overpayments - £18935.03
    • CathT
    • By CathT 22nd Mar 17, 10:03 AM
    • 5,148 Posts
    • 35,424 Thanks
    CathT
    You'll soon blast through cc 3 aswell dfod. It's so frustrating paying them as think of the money as potential mortgage OP's. Hope the insurance covers that quote for you, sounds like you're dealing with it really well!
    June 2010 £121,287
    May 2017 - part 1 - £81,782
    -part 2 - £46,814
    Total - £128,596
    • debtfreeoneday
    • By debtfreeoneday 22nd Mar 17, 7:43 PM
    • 2,675 Posts
    • 9,045 Thanks
    debtfreeoneday
    Thankful I've finished for the week, 3 days to go next week and I'm done.

    Soooo looking forward to getting going! £44 on youg0v now.

    Hope everyone is OK, feel so out of it at the moment keeping up with everything
    DFW (08/08) £64,346.53
    CC1 - GONE! ~~~ CC2 - GONE! ~~~ CC3 - £1549.85
    MFW (01/15) £118,031.21 £98,530.54
    • rasputin_thorpedo
    • By rasputin_thorpedo 22nd Mar 17, 8:58 PM
    • 388 Posts
    • 2,556 Thanks
    rasputin_thorpedo
    Keep holding it together - good stuff
    May15 Mortgage - £185k | Dec16 - £157k | Dec17 - £135k | Dec18 - £113k | Dec19 - £90k | Dec20 - £66k | Dec21 - £40k | Dec22 - 12k | May23 - £0 Mortgage Free at 40 in May23!
    • Kittenkirst
    • By Kittenkirst 27th Mar 17, 6:37 AM
    • 1,332 Posts
    • 6,485 Thanks
    Kittenkirst
    Oh three days to go DFOD

    Hope it was good news on the insurance front?
    Emergency savings- £3005. /£4000
    Mortgage Oct '16- £170.995 LTV- 90% end date Nov 2041
    2016 OPs £255.50/£150
    2017 MFW #20 - OP £1292.90/ £2150. 60%
    Jan- £68.21, Feb- £306.67, March- £272.01 April-£324.05 May £120.33 June £201.63
    • debtfreeoneday
    • By debtfreeoneday 30th Mar 17, 10:54 AM
    • 2,675 Posts
    • 9,045 Thanks
    debtfreeoneday
    It wasn't good new KK, but we've found a temporary fix for now and will hope that holds for a few years!

    That's me done now, so full steam ahead with home ed!

    Hopefully will find 5 mins here and there to do a few surveys in the day. Need to write our report for the LA over the Easter hols to explain how we are going to HE them, so that's a piece of work I'm looking forward to - not!
    DFW (08/08) £64,346.53
    CC1 - GONE! ~~~ CC2 - GONE! ~~~ CC3 - £1549.85
    MFW (01/15) £118,031.21 £98,530.54
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

4,933Posts Today

6,899Users online

Martin's Twitter
  • RT @kcbelsham: @MartinSLewis . This Account would have to pay at least 12% to achieve £1 million in 35 years . Any ideas ( think it is impo?

  • Really? The highest interest rate amount for that volume of cash currently is 2%? You'd need an interest rate explo? https://t.co/6YRk1wLdTl

  • Today's Twitter poll: Is it acceptable to take your shirt off and go topless in the street when it's scorching in the UK?

  • Follow Martin