Starting on the mortgage...

princessdaisy2k

Welcome to the mortgage free forum. I also have a tiny mortgage compared to others but am actively trying to be mortgage free hopefully by Dec 2011. But one way I am doing this and it is getting harder with the credit crunch is to scan the info on this website for good credit cards with balance transfers. I apply and if I get them, whatever I spend on my usual credit cards on daily stuff, I transfer the balance to the nil percent card and then send the money to my mortgage instead. You must set up a minimum payment with the credit card you are doing the balance transfer with and must make a note of when they expect their money back but this money is not yours but is temporarily being off set against your mortgage and so is not getting interest charged against it. It is a good idea to not apply for more than one card at a time and give it a month or two between applying to get your credit score up. This may all sound a little complicated but if you are serious about being mortgage free like me, then it is a useful way of using someone elses money legitimately to decrease your mortgage.

EssexHebridean

Hey - didn't you know, size isn't important apparently! :rotfl: Seriously though - there is all shapes and sizes of mortgage being attacked on here at the moment, so don't feel you have any the less right to be here just because you have less to deal with.

Well done on doing what you have so far - you'll find when you really crack into it that seeing the effects of the overpayments will be it's own incentive to carry on - before you know it you will be finding little sneaky ways of saving a few ££'s here and there and looking forward to seeing the difference you're making. Good luck with it!

setmefree2

Just wanted to wish you Good Luck with your mortgage free journey:T

Stardust77

Thanks for the welcome everyone, I shall probably only update this around payday so please don't think I'm not grateful for your replies if I haven't responded.

It's looking like I might have a bit of extra work helping out my friends business, on top of my normal job so I might be able to up that overpayment in thecoming months. Fingers crossed!

Stardust77

Hi Princess Daisy, thanks for the advice.

I already use my cc for absolutely everything but to get the Tesco points which in turn pays for our annual holiday plus several days out. This leaves more money for the ISA and overpayments. I pay it all off in full at the end of the month though by dd as having been in debt it's a slippery slope for me and I seem to have been at the back of the queue when self-control was given out!!

Good luck with your own mortgage x

Stardust77

Just paid an extra £70 in to the mortgage yay!!! :j It gives me such a buzz!

The only trouble is I'm resenting the fact its dh and ds's birthdays next month and I'll be shelling out for pressies and parties instead of a bigger mortgage payment.

Victor Meldrew eat your heart out :rotfl:

Lexxi

Well done on the overpayment :T

Tell dh and ds it'll be far more fun to combine the birthdays and have one big birthday party, save you loads!

galadriel

I know what you mean. I've just started overpaying my mortgage and last week I had to spend £15 on a meal out for DGD birthday, then last night £20 for pizza for DS birthday, and this is on top of the cost of their presents. Still it's important to balance overpaying with having some fun, so enjoy their birthdays and leave the overpaying until next month

StuartGMC

galadriel wrote: »

Still it's important to balance overpaying with having some fun, so enjoy their birthdays and leave the overpaying until next month

Quite agree, balance is important as the mortgage is there for too long to spend all of it in austerity