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Inspired by Ms London!!

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  • You've definitely made it to celebrity now - mentioned in the tip no less!!

    Thanks for all your encouragement!!
  • Murtle
    Murtle Posts: 4,154 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    ooo babysaver good luck. I think snowballing will be the way forward for you!!! Can you overpay on any of your loans???

    Good luck though
  • babysaver
    babysaver Posts: 119 Forumite
    My grand plan is to try and overpay the Northern Rock loan once Abbey and Lombard are paid off (in another 5 years!!)

    Can I ask a daft question?? I'm going to update the board every month until this is paid off - do I start a new message every month or find this one and re-hash it??

    Thanks : - )
  • ms_london
    ms_london Posts: 2,852 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    babysaver wrote:
    My grand plan is to try and overpay the Northern Rock loan once Abbey and Lombard are paid off (in another 5 years!!)

    Can I ask a daft question?? I'm going to update the board every month until this is paid off - do I start a new message every month or find this one and re-hash it??

    Thanks : - )

    Either really, you could start a new one each month, but include a link from the previous's months so people can see where you were last month too & how far things have progressed.

    It really does help writing things down, and im nosy so love hearing about people's lives :0)
  • babysaver
    babysaver Posts: 119 Forumite
    It's been a while since I updated here but had a bit of a change of plan since November...I'm separating from my OH and have had to re-organise money and stuff. Good news is that I now only have the Northern Rock loan and planning to repay that in full when my house sells (fingers crossed it will be soon!) Bad news is that I'm back to a 25 year mortgage but at least that will now be my only debt - and if I make overpayments, it won't be as long as 25 years. This board has really encouraged me to be sensible about taking on loans and I've had great advice via the Mortgage boards. I'm planning to get a Mortgage Pig when I get my new place and be completely debt-free and mortgage free as soon as possible!
  • Murtle
    Murtle Posts: 4,154 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Sorry to hear that Babysaver. I hope it's for the best and ultimately what you want. Good news about getting rid of the debt though, and a mortgage pig is a great idea - you might want to find one now so you can be totally addicted to it before moving!!!

    Good luck with the sale of your house and subsequent move.

    x x
  • Emmzi
    Emmzi Posts: 8,658 Forumite
    1,000 Posts Combo Breaker
    Babysaver,

    sorry about OH - always some kind of stress, isn't there? But well done on getting yourself sorted out!

    Will be watching with interest and cheering from the sidelines!
    Debt free 4th April 2007.
    New house. Bigger mortgage. MFWB after I have my buffer cash in place.
  • babysaver
    babysaver Posts: 119 Forumite
    Thank you Murtle and Emmzi - it is kind of stressful especially when it's not really what I want but I'm trying to be very positive and looking for new place to stay with my children (they're very excited about moving house so it's keeping my mind off myself for a while!). Sorting the money out has been very therapeutic as well - spoken like a true money-saver eh!
  • comicmankev
    comicmankev Posts: 1,597 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    £62k worth of debt cleared in 6 months, thats certainly great news whatever the circumstances. It doesnt always come with good news, but it could always be worse!

    Good luck to you, and can I ask, was one 9or all of these loans secured? I'm guessing the Lombard one was at least?
  • babysaver
    babysaver Posts: 119 Forumite
    Hi comicmankev - none of the loans was secured. My ex-OH took ownership of the Lombard loan (which was the biggest) and I paid off Abbey with money I had intended to use for home improvements....
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