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  • FIRST POST
    • coxj2901
    • By coxj2901 10th Nov 15, 2:47 PM
    • 205Posts
    • 243Thanks
    coxj2901
    Quarter of a million reasons to be Mortgage Free!
    • #1
    • 10th Nov 15, 2:47 PM
    Quarter of a million reasons to be Mortgage Free! 10th Nov 15 at 2:47 PM
    Hi all,

    Like others, I have read through quite a lot of diaries and think it's time I finally started my own mortgage free quest. We recently bought our dream home 2 years ago with a mortgage of £255,000 over 28 years. The house is currently valued at around £330,000 and the mortgage balance currently sits at £244,671. We have just remortgaged for a 2 year fix of 2.34%.

    I am 38 years of age and live with my wife and three daughters aged 12, 10 and 5. My mother in law has recently moved in with us and we are currently in the process of converting the garage and building an extension which will become an annex for her to live in.

    I started my own business around 6 years ago and we took on a lot of debt during this period which is now almost paid off and the remaining £10,000 we owe is at 0% (£5,000 to my mother in law who wants £100 per month paid until she reaches her pension age) and £5,000 on a credit card which is at 0% until 2018. Therefore these will be paid off before any interest is accrued but I won't be overly focusing on these and will switch my attention to the mortgage instead.

    I am fortunate that the business has steadied itself and organically grown over the 6 years since inception so that our monthly drawings are at a point that I can really start making some decent sized over payments.

    Here is a quick snapshot of our monthly income and expenditure:-

    Statement of Affairs

    Monthly Income Details
    Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 6,200.00
    Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 188.00

    Monthly Expense Details

    In Your Home

    TV licence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.12
    Internet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
    Home phone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.00
    Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70.00
    Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70.00
    Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
    Council tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180.00
    Home insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.00
    Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,045.09
    Mortgage life insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.96
    Food and household shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 500.00


    Motoring & Public Transport

    Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 400.00
    Car insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41.67

    Debt Repayments

    Credit card repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150.00
    Car Lease Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 435.00

    Savings & Investments

    Pension payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 240.00
    Buying shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.00
    Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
    Childrens Savings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60.00

    Family

    Pet food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
    School trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
    Pocket money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
    Pet insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.00

    Entertainment

    Satellite/Digital TV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
    All other entertainment . . . . . . . . . . . . . . . . . . . . . . . . . . . . 400.00

    Clothes, Health & Beauty

    Optical bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
    Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
    Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
    New clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180.00

    Big One-Offs

    Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
    Summer holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500.00
    Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80.00

    Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,388.00


    Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,862.84

    Total surplus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,525.16



    My plans are to try and clear the mortgage in around 8 years which would mean overpayments of circa £1,750 per month at current interest rates. We could obviously scale back our outgoings to be more aggressive with the overpayments but after a long period of being in debt and having hardly any money we want to try and enjoy this journey by having a couple of holidays each year and days out as a family.

    Here's to the next 8 years!
    Last edited by coxj2901; 10-11-2015 at 4:38 PM.
Page 5
    • coxj2901
    • By coxj2901 5th Oct 16, 11:53 AM
    • 205 Posts
    • 243 Thanks
    coxj2901
    I've received £8.13 in bank interest today on my Nationwide account so I have paid this off the mortgage. I have also had a play with my excel spreadsheet to come up with a better representation of my house so that I can colour it in each month! This is what I have come up with to represent the equity in my house. I almost own the ground floor of the house

    Nov 2015:- Mortgage Balance £244,671
    Jun 2017:- Mortgage Balance £186,404
    • coxj2901
    • By coxj2901 7th Oct 16, 12:14 PM
    • 205 Posts
    • 243 Thanks
    coxj2901
    The kitchen quotes have all come in and after a lot of bartering I have come in around £3k under budget which is great. I have therefore paid £400 into my dd's JISA and £400 in my S&S ISA. I have also paid £1,355.84 off the mortgage which means we have broken the £220k barrier

    My daily interest is now sitting at £14.09 so I think we will dip into the £13.xx by next month.

    I have also been going to the gym regularly and I am up to running around 4.5 miles per day (albeit at a pedestrian pace - 10:40 per mile!). I ran a total of 15 miles last week and I've done 17.5 miles this week. I am having a break from the gym for three days now as my legs are killing me and I have a kitchen to rip out over the weekend

    Oct 2016 Target

    Monthly overpayment target . . . . . £1,750.00
    Actual monthly overpayments . . . . . £3,088.97
    (Shortfall) / Surplus . . . . . . . . . . . . . £1,338.97

    2016 Target to date

    2016 overpayment target . . . . . . . £17,500.00
    2016 actual overpayments . . . . . . . £14,873.77
    (Shortfall) / Surplus . . . . . . . . . . . . (£2,626.23)

    Cumulative Targets since Nov-15

    Cumulative overpayment target . . . £21,000.00
    Cumulative actual overpayments . . . £18,523.77
    (Shortfall) / Surplus . . . . . . . . . . . . (£2,476.23)

    Daily Interest Comparisons
    Oct 2015 Daily Interest . . . . . . . . . . . £15.69
    Oct 2016 Daily Interest . . . . . . . . . . . £14.09
    Nov 2015:- Mortgage Balance £244,671
    Jun 2017:- Mortgage Balance £186,404
    • coxj2901
    • By coxj2901 10th Oct 16, 2:23 PM
    • 205 Posts
    • 243 Thanks
    coxj2901
    Shuffling Funds!
    I've shuffled some money around and reduced some of the cash we had in our 123 account as the interest will be dropping to 1.5% shortly and my mortgage is at 2.34% so I figured it was better to throw a bit more at the mortgage!

    Therefore I've just made an overpayment of £2,500 which allows me to catch up a little bit in the annual targets and takes us below £14 per day in daily interest charges

    Oct 2016 Target

    Monthly overpayment target . . . . . £1,750.00
    Actual monthly overpayments . . . . . £5,588.97
    (Shortfall) / Surplus . . . . . . . . . . . . . £3,838.97

    2016 Target to date

    2016 overpayment target . . . . . . . £17,500.00
    2016 actual overpayments . . . . . . . £17,373.77
    (Shortfall) / Surplus . . . . . . . . . . . . (£126.23)

    Cumulative Targets since Nov-15

    Cumulative overpayment target . . . £21,000.00
    Cumulative actual overpayments . . . £21,023.77
    (Shortfall) / Surplus . . . . . . . . . . . . . £23.77

    Daily Interest Comparisons
    Oct 2015 Daily Interest . . . . . . . . . . . £15.69
    Oct 2016 Daily Interest . . . . . . . . . . . £13.93
    Nov 2015:- Mortgage Balance £244,671
    Jun 2017:- Mortgage Balance £186,404
    • coxj2901
    • By coxj2901 12th Oct 16, 11:15 AM
    • 205 Posts
    • 243 Thanks
    coxj2901
    I've just withdrawn the last of my p2p interest which was £8.54 and paid this against the mortgage. I'm now fully divested from p2p loans which feels right given that the reduction in interest rates no longer warrants the increased risk.
    Nov 2015:- Mortgage Balance £244,671
    Jun 2017:- Mortgage Balance £186,404
    • coxj2901
    • By coxj2901 14th Oct 16, 3:21 PM
    • 205 Posts
    • 243 Thanks
    coxj2901
    The 123 account has been playing on my mind so I have taken the last £3,200 out of the account and paid it off against the mortgage. I now only have cash savings of £2.5k left in my n4tionwide account which is still earning 5% at the moment. I believe this stops after 12 months so I need to find a home for that aswell soon.

    The overpayments this month have been huge but obviously falsely inflated due to the withdrawal of the 123 savings.

    Oct 2016 Target

    Monthly overpayment target . . . . . £1,750.00
    Actual monthly overpayments . . . . . £8,797.51
    (Shortfall) / Surplus . . . . . . . . . . . . . £7,047.51

    2016 Target to date

    2016 overpayment target . . . . . . . £17,500.00
    2016 actual overpayments . . . . . . . £20,582.31
    (Shortfall) / Surplus . . . . . . . . . . . . £3,082.31

    Cumulative Targets since Nov-15

    Cumulative overpayment target . . . £21,000.00
    Cumulative actual overpayments . . . £24,232.31
    (Shortfall) / Surplus . . . . . . . . . . . . . £3,232.31

    Daily Interest Comparisons
    Oct 2015 Daily Interest . . . . . . . . . . . £15.69
    Oct 2016 Daily Interest . . . . . . . . . . . £13.73
    Nov 2015:- Mortgage Balance £244,671
    Jun 2017:- Mortgage Balance £186,404
    • coxj2901
    • By coxj2901 19th Oct 16, 12:37 PM
    • 205 Posts
    • 243 Thanks
    coxj2901
    I've transferred the last £50 from my current account to the mortgage as payday is approaching! There's not much more financial news to report so roll on next month when the overpayments can start again

    Oct 2016 Target


    Monthly overpayment target . . . . . £1,750.00
    Actual monthly overpayments . . . . . £8,847.51
    (Shortfall) / Surplus . . . . . . . . . . . . . £7,097.51

    2016 Target to date

    2016 overpayment target . . . . . . . £17,500.00
    2016 actual overpayments . . . . . . . £20,632.31
    (Shortfall) / Surplus . . . . . . . . . . . . £3,132.31

    Cumulative Targets since Nov-15

    Cumulative overpayment target . . . £21,000.00
    Cumulative actual overpayments . . . £24,282.31
    (Shortfall) / Surplus . . . . . . . . . . . . . £3,282.31
    Nov 2015:- Mortgage Balance £244,671
    Jun 2017:- Mortgage Balance £186,404
    • coxj2901
    • By coxj2901 24th Oct 16, 12:12 PM
    • 205 Posts
    • 243 Thanks
    coxj2901
    I had a refund today of £54.94 from some extra kitchen stuff that went back. Therefore I've sent this on it's merry way to the mortgage!

    The kitchen is coming along nicely and is nearly done now - The tiling is being done today and the skirting and radiators are being done tomorrow and then it should be finished. I can't wait to have a proper meal again after living on microwave dinners for the last two weeks
    Nov 2015:- Mortgage Balance £244,671
    Jun 2017:- Mortgage Balance £186,404
    • try harder
    • By try harder 24th Oct 16, 1:15 PM
    • 430 Posts
    • 1,317 Thanks
    try harder
    Wow ,well done on the great figures ,you will have that mortgage paid off in no time .
    • coxj2901
    • By coxj2901 3rd Nov 16, 1:47 PM
    • 205 Posts
    • 243 Thanks
    coxj2901
    A New Month
    My normal payment for £1,045 has left my account by direct plus a standing order for an overpayment of £750. I have a feeling that this month is going to be tight as we have a few extra expenses this month, including a weekend away so let's see how it plays out.

    Nov 2016 Target

    Monthly overpayment target . . . . . £1,750.00
    Actual monthly overpayments . . . . . £750.00
    (Shortfall) / Surplus . . . . . . . . . . . . (£1,000.00)

    2016 Target to date

    2016 overpayment target . . . . . . . £19,250.00
    2016 actual overpayments . . . . . . . £21,937.35
    (Shortfall) / Surplus . . . . . . . . . . . . £2,687.25

    Cumulative Targets since Nov-15

    Cumulative overpayment target . . . £22,750.00
    Cumulative actual overpayments . . . £25,587.25
    (Shortfall) / Surplus . . . . . . . . . . . . . £2,837.25

    Daily Interest Comparisons
    Nov 2015 Daily Interest . . . . . . . . . . . £15.68
    Nov 2016 Daily Interest . . . . . . . . . . . £13.59
    Nov 2015:- Mortgage Balance £244,671
    Jun 2017:- Mortgage Balance £186,404
    • coxj2901
    • By coxj2901 5th Dec 16, 1:44 PM
    • 205 Posts
    • 243 Thanks
    coxj2901
    Dec Overpayments
    My normal payment for £1,045 has left my account by direct plus a standing order for an overpayment of £750. I have also paid another £1,000 off the mortgage today. I think that will be my last overpayment for this year but it feels like I've had a good year overall for overpaying the mortgage.

    My mortgage is now £209,620 so not a million miles away from having a 1 in front of it. That will feel like a big milestone! I will do a full review before the end of the year of how things have gone and will sit down and put down my targets for 2017

    Dec 2016 Target

    Monthly overpayment target . . . . . £1,750.00
    Actual monthly overpayments . . . . . £1,750.00
    (Shortfall) / Surplus . . . . . . . . . . . . . £0.00

    2016 Target to date

    2016 overpayment target . . . . . . . £21,000.00
    2016 actual overpayments . . . . . . . £23,687.25
    (Shortfall) / Surplus . . . . . . . . . . . . £2,687.25

    Cumulative Targets since Nov-15

    Cumulative overpayment target . . . £24,500.00
    Cumulative actual overpayments . . . £27,337.25
    (Shortfall) / Surplus . . . . . . . . . . . . . £2,837.25

    Daily Interest Comparisons

    Dec 2015 Daily Interest . . . . . . . . . . . £15.50
    Dec 2016 Daily Interest . . . . . . . . . . . £13.44
    Nov 2015:- Mortgage Balance £244,671
    Jun 2017:- Mortgage Balance £186,404
    • Kittenkirst
    • By Kittenkirst 5th Dec 16, 9:57 PM
    • 1,350 Posts
    • 6,587 Thanks
    Kittenkirst
    Such fantastic overpayments you have been making!
    Have you thought about your 2017 plans yet?
    Emergency savings- £3005. /£4000
    Mortgage Oct '16- £170.995 LTV- 90% end date Nov 2041
    2016 OPs £255.50/£150
    2017 MFW #20 - OP £1369.78/ £2150. 63.7%
    Jan- £68.21, Feb- £306.67, March- £272.01 April-£324.05 May £120.33 June £278.51
    • coxj2901
    • By coxj2901 1st Jan 17, 4:04 PM
    • 205 Posts
    • 243 Thanks
    coxj2901
    Happy New Year
    This is my review of my financial goals for 2016.

    1. "Overpay £23,000 on my mortgage". I have overpaid £23,687.25 in 2016 which means I hit my target. I had to deplete my cash savings a little but a win is a win.

    2. "Increase emergency fund to £6,000". My ISA is now sitting at around £7.6k after some healthy gains over the last quarter, so because it isn't cash savings I have to count this one as a failure.

    3. "Increase my pension pot to £33,000". My pension pot is sitting at just over £38k after some healthy gains through the last quarter. A definite big tick for this one.

    4. "Increase my wife's pension pot to £5,000". My wife's pension is sitting at £6.8k so another tick for this one.

    5. "Increase my personal share holding to £1,500". As mentioned previously I changed this goal through the year and won't be holding any individual shares anymore.

    6. "Pay for a new drive". Again, as discussed in the quarter three review our drive was completed earlier in the year.

    7. "Pay off my 0% credit card in full". This was repaid in full early in the year and remains at £0.

    Conclusion

    I think overall 2016 was a very successful financial year. I think we got the balance right in terms of spending money on fun things like holidays and putting ourselves in a stronger financial position.

    I will post my 2017 goals shortly and hopefully learn from 2016 and use this to achieve success in 2017
    Nov 2015:- Mortgage Balance £244,671
    Jun 2017:- Mortgage Balance £186,404
    • coxj2901
    • By coxj2901 1st Jan 17, 4:09 PM
    • 205 Posts
    • 243 Thanks
    coxj2901
    2017 Financial Goals
    My goals for 2017 are as follows:-

    1. Overpay £20,000 on my mortgage. This will again take me to 10% of my mortgage balance and averages out to £1,666 per month.

    2. Increase savings to £11,000. This can be a mix of cash and money put into my ISA. I currently have around £7.6k in my S&S ISA so need this to grow by circa £3.4k.

    3. Increase my pension pot to £47,500. My pension pot is sitting at £38k and I have an employer contributions of £650 per month going in.

    4. Increase my wife's pension pot to £15,000. My wife's pension is sitting at £6.8k and she will have £650 per month going in.

    5. Pay for a new patio. This really is the last job in the house to be done!

    6. Remortgage in Dec 2017 when I am below 60% LTV and reduce rate to ~ 2%

    7. Reduce my mortgage term in Dec 2017 when I remortgage and reduce it from 25 years to 15 years.
    Nov 2015:- Mortgage Balance £244,671
    Jun 2017:- Mortgage Balance £186,404
    • coxj2901
    • By coxj2901 3rd Jan 17, 11:30 AM
    • 205 Posts
    • 243 Thanks
    coxj2901
    Jan 2017
    My normal payment for £1,045 has left my account by direct debit plus a standing order for an overpayment of £750. I should have some spare funds available once I update my financial spreadsheets so hopefully further overpayments to come this month.

    Jan 2017 Target

    Monthly overpayment target . . . . . £1,666.67
    Actual monthly overpayments . . . . . £750.00
    (Shortfall) / Surplus . . . . . . .. . . . . . (£916.67)

    Cumulative Targets since Nov-15

    Cumulative overpayment target . . . £26,1666.67
    Cumulative actual overpayments . . . £28,087.25
    (Shortfall) / Surplus . . . . . . . . . . . . . £1,920.58
    Nov 2015:- Mortgage Balance £244,671
    Jun 2017:- Mortgage Balance £186,404
    • coxj2901
    • By coxj2901 4th Jan 17, 12:30 PM
    • 205 Posts
    • 243 Thanks
    coxj2901
    I have made an overpayment of £1,000 today after going through my finances post Christmas period. I'm getting excited at the thought of getting below £200k but it may be a few months before I hit that figure!

    Jan 2017 Target

    Monthly overpayment target . . . . . £1,666.67
    Actual monthly overpayments . . . . . £1,750.00
    (Shortfall) / Surplus . . . . . . .. . . . . . £83.33

    Cumulative Targets since Nov-15

    Cumulative overpayment target . . . £26,166.67
    Cumulative actual overpayments . . . £29,087.25
    (Shortfall) / Surplus . . . . . . . . . . . . . £2,920.58
    Nov 2015:- Mortgage Balance £244,671
    Jun 2017:- Mortgage Balance £186,404
    • coxj2901
    • By coxj2901 13th Feb 17, 2:10 PM
    • 205 Posts
    • 243 Thanks
    coxj2901
    Update
    I have paid off another £1700 today in addition to a £100 overpayment on the 1st Feb which means I am getting closer and closer to the magical £200k figure. My mortgage balance now stands at £204,791 so should go below £200k in April at this rate

    Feb 2017 Target

    Monthly overpayment target . . . . . £1,666.67
    Actual monthly overpayments . . . . . £1,800.00
    (Shortfall) / Surplus . . . . . . . . . . . . . £133.33

    2017 Target to date

    2017 overpayment target to date . . . . £3,333.34
    2017 actual overpayments . . . . . . . . . £3,550.00
    (Shortfall) / Surplus . . . . . . . . . . . . . . . £216.66

    Cumulative Targets since Nov-15

    Cumulative overpayment target . . . £26,166.67
    Cumulative actual overpayments . . . £30,887.25
    (Shortfall) / Surplus . . . . . . . . . . . . . £4,720.58

    Daily Interest Comparisons

    Feb 2016 Daily Interest . . . . . . . . . . . £15.19
    Feb 2017 Daily Interest . . . . . . . . . . . £13.14
    Nov 2015:- Mortgage Balance £244,671
    Jun 2017:- Mortgage Balance £186,404
    • coxj2901
    • By coxj2901 1st Mar 17, 11:50 AM
    • 205 Posts
    • 243 Thanks
    coxj2901
    Mar-17
    My regular direct debit of £1,045 has been taken today plus a standing order for £100. I have also made an additional overpayment of £1,800 to hit the March target early.

    We have booked a few holidays again for this year which we were saving for but have just added an extra one to Lanzarote in the Easter half term so I may have to scale back on overpayments for a couple of months to pay for this impromptu holiday!

    Mar 2017 Target

    Monthly overpayment target . . . . . £1,666.67
    Actual monthly overpayments . . . . . £1,900.00
    (Shortfall) / Surplus . . . . . . . . . . . . . £233.33

    2017 Target to date

    2017 overpayment target to date . . . . £5,000.01
    2017 actual overpayments . . . . . . . . . £5,450.00
    (Shortfall) / Surplus . . . . . . . . . . . . . . . £449.99

    Cumulative Targets since Nov-15

    Cumulative overpayment target . . . £29,500.01
    Cumulative actual overpayments . . . £32,787.25
    (Shortfall) / Surplus . . . . . . . . . . . . . £3,287.24

    Daily Interest Comparisons

    Mar 2016 Daily Interest . . . . . . . . . . . £14.87
    Mar 2017 Daily Interest . . . . . . . . . . . £12.96
    Nov 2015:- Mortgage Balance £244,671
    Jun 2017:- Mortgage Balance £186,404
    • coxj2901
    • By coxj2901 30th Mar 17, 11:53 AM
    • 205 Posts
    • 243 Thanks
    coxj2901
    Update
    I have drawn down some of my ISA and paid this off against the mortgage as I couldn't wait any longer to get below £200k I have used the money to pay for the holiday aswell so normal service can resume with paying off the mortgage from April 2017 onwards.

    Mar 2017 Target

    Monthly overpayment target . . . . . £1,666.67
    Actual monthly overpayments . . . . . £6,726.89
    (Shortfall) / Surplus . . . . . . . . . . . . . £5,060.22

    2017 Target to date

    2017 overpayment target to date . . . . £5,000.01
    2017 actual overpayments . . . . . . . . . £12,076.89
    (Shortfall) / Surplus . . . . . . . . . . . . . . . £7,076.88

    Cumulative Targets since Nov-15

    Cumulative overpayment target . . . £29,500.01
    Cumulative actual overpayments . . . £39,414.14
    (Shortfall) / Surplus . . . . . . . . . . . . . £9,914.13

    Daily Interest Comparisons

    Mar 2016 Daily Interest . . . . . . . . . . . £14.87
    Mar 2017 Daily Interest . . . . . . . . . . . £12.56
    Nov 2015:- Mortgage Balance £244,671
    Jun 2017:- Mortgage Balance £186,404
    • try harder
    • By try harder 30th Mar 17, 12:33 PM
    • 430 Posts
    • 1,317 Thanks
    try harder
    Fantastic overpayments for the month and what a difference 16 months have made .Well done .
    • coxj2901
    • By coxj2901 4th Apr 17, 11:10 AM
    • 205 Posts
    • 243 Thanks
    coxj2901
    Apr-2017
    My April direct debit of £1,045.09 has left the account plus an overpayment by standing order of £100. This brings the mortgage down to £194,855
    Nov 2015:- Mortgage Balance £244,671
    Jun 2017:- Mortgage Balance £186,404
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