To infinity and being mortgage free!!

elwistua

Taken a slightly different tack to savings and becoming MF.

As we now have 6 months of emergency savings behind us plus we are saving every month towards holidays, changing cars, etc we are no longer adding to the emergency fund. So today I made another overpayment (additional to our monthly overpayment) of £500 as we are paying out more in mortgage interest than simply leaving it in the bank.

We are hoping to make another one, possibly two between now and December 2012 of the same amount. This still gives us a little 'fun' money to play with every month. So as long as we make 2 x £500 overpayments for the next 7 and a bit years we will be MF in early 2020 but still pushing for the end of 2019 as it has a nice ring to it, MF by the end of the decade :j:j

elwistua

Evening all,

Been a bit a stranger to the forum with one thing or another.

Our fixed rate deal comes to an end at the end of Feb 2014 and seen another 5 year fix but this time with Barclays, they are doing a loyalty deal for existing customers at 2.88% so have booked an appointment for next Friday to get that booked, they do free legals and valuation but a 'fee' of £499 which given some of the other fixes doesn't seem bad. So with a kind wind we should be clear of the mortgage in 7 years so a bit longer than we hoped but we are comfortable with where we are and have built up some cash and plan of doing some more work on the house next year (driveway, soundproofing the floors, I do like a quiet house and a bit of work in the garden).

Hope your all doing well on your MF quests!

originalmiscellany

for posting! It's impressive that you manage to post so infrequently - but seem to be doing so very well. Congrats on making great inroads into your debt - looking forward to hearing from you in a few years time with your next post