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  • FIRST POST
    • Jessy103
    • By Jessy103 17th Oct 16, 12:00 PM
    • 466Posts
    • 1,964Thanks
    Jessy103
    I Want To Be Mortgage Free!
    • #1
    • 17th Oct 16, 12:00 PM
    I Want To Be Mortgage Free! 17th Oct 16 at 12:00 PM
    I've been reading a lot of inspiring diaries over the past few days (I've actually become quite addicted to reading them!) and thought I would have a go at my own.


    In 2007 me and OH bought our first house for £86,000, we were in rented accommodation and desperate for our own home. As it was 2007 the bank was quite happy to give us a 100% mortgage (I know it was a silly thing to do but I was only 20 and hindsight is a wonderful thing!) and add any fees on to the mortgage but of course the banking crash happened a year later and our house is no longer worth what we paid for it. We are not in a rush to move home but I would like to repay as much of this mortgage and save up as much as we can so that when we do come to move it will be a lot easier and we don't get a LTV of 100% again!


    Unfortunately I am not working at the moment due to health issues and my lovely mum suffers from MS so I like to be available to her when she needs me as it is a very unpredictable illness. The only income I have at the moment is from internet surveys. I am very lucky that I have a fantastic husband that earns a good wage and understands that I want to be there for my mum as much as I can.


    I am trying to be very frugal so that we are able to overpay on the mortgage and save some money so any tips from you lovely people would be greatly appreciated! Thank you for reading!


    Mortgage amount in 2007: £87,310.50
    Mortgage as of October 2016: £70,486.38
    Target for October 2017: £65,000 or under

    If you haven’t already, join the forum to reply!
    This Forum tip was included in MoneySavingExpert.com's weekly email!
    Last edited by Former MSE Jessica; 18-01-2017 at 9:49 AM.
Page 12
    • EatingTheElephant
    • By EatingTheElephant 2nd Jul 17, 8:00 AM
    • 1,142 Posts
    • 6,154 Thanks
    EatingTheElephant
    Belated happy birthday
    • Jessy103
    • By Jessy103 2nd Jul 17, 9:28 AM
    • 466 Posts
    • 1,964 Thanks
    Jessy103
    Belated happy birthday
    Originally posted by EatingTheElephant
    Thank you!
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
    • Elephantchunks
    • By Elephantchunks 2nd Jul 17, 12:21 PM
    • 109 Posts
    • 585 Thanks
    Elephantchunks
    Happy belated birthday from me too.
    Sorry to read that you were not feeling great with where you're at. I think this is something we all assess when we have a birthday. But look at your signature you're chomping decent chunks off that mortgage elephant! Hope your feeling better today x
    August Monthly Challenge: Magic up £89.65/£164.
    August £100 Weekly Challenge: Week 2 £110/£100
    August £100 Weekly Challenge: Week 1 £99.91/£100

    Save before we move: End of July £2180/£3010
    Save before we move: End of June £1447/£2380
    Save before we move: End of May £975/£2380
    • Jessy103
    • By Jessy103 2nd Jul 17, 12:48 PM
    • 466 Posts
    • 1,964 Thanks
    Jessy103
    Happy belated birthday from me too.
    Sorry to read that you were not feeling great with where you're at. I think this is something we all assess when we have a birthday. But look at your signature you're chomping decent chunks off that mortgage elephant! Hope your feeling better today x
    Originally posted by Elephantchunks
    Thank you! Thanks for the support EC, I do feel better today, just having one of those days yesterday I think! x

    On a good note I did win £25 from a 50p bet on the horses yesterday so that cheered me up abit!

    Have a lovely Sunday all! x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
    • kirtsypoos
    • By kirtsypoos 2nd Jul 17, 8:41 PM
    • 3,042 Posts
    • 13,502 Thanks
    kirtsypoos
    Happy belated birthday Jessy! Congrats on the win, and on DH not paying for the takeaway! x
    £250/3000 OH BC(91.66% PAID)
    PAID VERY, Barclaycard x2, Vanquis, Natwest, O/D, Tesco & MBNA x2 PAID LBM 24/07/15 - Debt: £250/31010.23 (99.19% paid)
    Mortgage - £161,000.00 (2017 O/P £2221.94) PAYDBX 17 #006 - £17,309.18/14,539.71
    • Jessy103
    • By Jessy103 2nd Jul 17, 8:57 PM
    • 466 Posts
    • 1,964 Thanks
    Jessy103
    Happy belated birthday Jessy! Congrats on the win, and on DH not paying for the takeaway! x
    Originally posted by kirtsypoos
    Thanks kirsty!! x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
    • themadvix
    • By themadvix 6th Jul 17, 10:47 AM
    • 1,117 Posts
    • 6,412 Thanks
    themadvix
    Really belated Happy Birthday Jess! (Sorry!)

    That was a nice win on the horses!
    OPs 2017 = £2603/£10000
    S&S ISA = £300/£600
    OPs made 2016 = £6142.12
    Starting balance 2012: £132000; balance June 2017: £99,974
    MFW2017 no. 38
    • Jessy103
    • By Jessy103 6th Jul 17, 1:25 PM
    • 466 Posts
    • 1,964 Thanks
    Jessy103
    Really belated Happy Birthday Jess! (Sorry!)

    That was a nice win on the horses!
    Originally posted by themadvix
    Thanks MV!! x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
    • Jessy103
    • By Jessy103 7th Jul 17, 7:51 PM
    • 466 Posts
    • 1,964 Thanks
    Jessy103
    I sent a few books, CDs and DVDs off to music magpie this week and got £9 for them which I am quite pleased with. I'm now waiting for DH to bring me another box from work so I can send some more off.

    I have claimed £10 from my surveys and I am getting close with two others.

    I did have an unexpected spend though when one of the dogs decided to chew pieces of MIL's favourite jigsaw that she had lent me to do!! This caused me to have a huge panic and ended up having to spend £40 on a replacement!!! I told the offending dog that she will be sent to the pound if she continues to chew things (this is the same dog that chewed my glasses!) she just looked at me as if to say 'yeah whatever!' and tottered off!

    It was my mum's birthday yesterday and she seemed to really like the card that I had made for her! I also bought her some Sanctury products from Boots and ended up getting her Christmas present as well because they had an offer on. I've updated my christmas spreadsheet so I know what I have bought her when I wrap it up at the weekend.

    I'm going out with some friends tomorrow for farewell drinks for my best friend who is moving away. I'm not a big drinker anyway so tend to only buy a couple of alcoholic drinks and then stick to pop so I'm sure I won't end up spending much money.

    Have a lovely weekend!
    Jess x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
    • Jessy103
    • By Jessy103 8th Jul 17, 5:19 PM
    • 466 Posts
    • 1,964 Thanks
    Jessy103
    Logged onto the mortgage this morning and the interest had been added on making the total £64,025.96 so I promptly called them and made an over payment of £125.96. When the system has updated our new total will be £63,900. This means I am able to cross off a box on my chart as we will never go back over £64K
    I'm confident we are on track for being under £60K by the end of the year!

    Unfortunately my friend cancelled our farewell drinks as she wasn't very well. We are meeting for breakfast tomorrow instead. Part of me is glad because I went for a really long and challenging walk with the dogs yesterday and my legs are aching! Also breakfast will be cheaper!

    Hope everyone is having a lovely weekend!!
    Jess x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
    • shangaijimmy
    • By shangaijimmy 8th Jul 17, 8:21 PM
    • 2,221 Posts
    • 10,201 Thanks
    shangaijimmy
    We'll do anything for the pleasure of colouring a little square in!! Great progress and i'm certain that you'll smash the December target!
    MFW: Turning June 2036 into March 2023... 32//120 Payments Challenge, Diary Reduction £34,271.00
    Aug 2009: £163,051 // Current: £101,729.00 // Avg Daily Interest £4.57
    MFiT-T4 #8 - 56.74% of £41,000
    • Jessy103
    • By Jessy103 9th Jul 17, 9:04 AM
    • 466 Posts
    • 1,964 Thanks
    Jessy103
    We'll do anything for the pleasure of colouring a little square in!! Great progress and i'm certain that you'll smash the December target!
    Originally posted by shangaijimmy
    Thanks for the support SJ!! It was very satisfying colouring in that square and I even skipped into the kitchen to do it! Lol! DH thinks I'm bonkers!
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
    • shangaijimmy
    • By shangaijimmy 9th Jul 17, 9:52 PM
    • 2,221 Posts
    • 10,201 Thanks
    shangaijimmy
    The abuse wears off, eventually. Mine has reduced from 'weirdo', to 'nerd' to a subtle roll of the eyes...!
    MFW: Turning June 2036 into March 2023... 32//120 Payments Challenge, Diary Reduction £34,271.00
    Aug 2009: £163,051 // Current: £101,729.00 // Avg Daily Interest £4.57
    MFiT-T4 #8 - 56.74% of £41,000
    • Jessy103
    • By Jessy103 10th Jul 17, 11:07 AM
    • 466 Posts
    • 1,964 Thanks
    Jessy103
    The abuse wears off, eventually. Mine has reduced from 'weirdo', to 'nerd' to a subtle roll of the eyes...!
    Originally posted by shangaijimmy
    I just spat my tea out laughing at this!!
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
    • Elephantchunks
    • By Elephantchunks 11th Jul 17, 11:16 PM
    • 109 Posts
    • 585 Thanks
    Elephantchunks
    Yay! Another square coloured in and a happy skip of joy to the kitchen. Great to hear, well done Jessy!
    August Monthly Challenge: Magic up £89.65/£164.
    August £100 Weekly Challenge: Week 2 £110/£100
    August £100 Weekly Challenge: Week 1 £99.91/£100

    Save before we move: End of July £2180/£3010
    Save before we move: End of June £1447/£2380
    Save before we move: End of May £975/£2380
    • Kittenkirst
    • By Kittenkirst 11th Jul 17, 11:47 PM
    • 1,605 Posts
    • 8,354 Thanks
    Kittenkirst
    Logged onto the mortgage this morning and the interest had been added on making the total £64,025.96 so I promptly called them and made an over payment of £125.96. When the system has updated our new total will be £63,900. This means I am able to cross off a box on my chart as we will never go back over £64K
    Originally posted by Jessy103
    FANTASTIC!!
    2017 MFW #20 - OP £2151.52: £2150 100%
    Last 3 months- Sep £206.32 Oct: £179.60 Nov: £12.58

    Emergency fund £3945/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • themadvix
    • By themadvix 12th Jul 17, 9:32 AM
    • 1,117 Posts
    • 6,412 Thanks
    themadvix
    I'm envious of your low levels of interest! Well done though - bet that's a great feeling
    OPs 2017 = £2603/£10000
    S&S ISA = £300/£600
    OPs made 2016 = £6142.12
    Starting balance 2012: £132000; balance June 2017: £99,974
    MFW2017 no. 38
    • Jessy103
    • By Jessy103 12th Jul 17, 1:35 PM
    • 466 Posts
    • 1,964 Thanks
    Jessy103
    Thanks for the support guys!! x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
    • ch4rly2002
    • By ch4rly2002 13th Jul 17, 3:15 PM
    • 238 Posts
    • 1,011 Thanks
    ch4rly2002
    Happy (very) belated birthday!

    Congratulations on getting under £64k!!! That's marvelous. Hope you started the chart at the full £87k so you could colour in what you've already achieved I really like the idea of that. I'm going to start one when we settle into the new place
    Savings: Aim £13.5k. Dec 2016 £1,700 / Current £11,200
    Mortgage: Dec 2014 -£216,000 / Current -£195,420
    BTL Mortgage: Dec 2014 -£136,000/ Current -£124,790
    CC 0%: Nov 2016 -£4,500 / Current -£3,506.43
    Loan to In-Laws: Sep 2010 -£48,185.82 / Current -£31,565.49
    Student Loan: March 2011 -£18,275.04 / 29th April 2017 -£14,003.85
    • Jessy103
    • By Jessy103 14th Jul 17, 11:55 AM
    • 466 Posts
    • 1,964 Thanks
    Jessy103
    Thanks Ch4rly! No I didn't start it at the full £87K although now you've said it I wish I had done!! I started it at £70K because that's what we were at when I started my MFW diary. Yeah you'll have to try it because it is a good motivator when I see it every time I walk in the kitchen! x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
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