uzubairu's Mortgage Free Journey

setmefree2

evab wrote: »

Well done on your run today, I've just signed up for the Rhyl 10km as had to pull out of the Snowdon marathon as I've been unwell for a couple of weeks. Have a good time if you do decide to go.

Well done on your OPs, great work!

well done :T:T

uzubairu

Overpayment in blue, Interest in red and Balance in green.

Year starting balance = £97,343.47
Overpayment Reserve = £8,914.07

October Stats:-

Month / Payment / Overpay / Interest (per day) / Net reduction / Balance.
Jan / 765.79 / 665.29 / 392.56 (12.66) / 1,038.52 / 96,304.95
Feb / 891.31 / 740.00 / 349.22 (12.47) / 1,282.09 / 95,022.86
Mar / 891.31 / 700.00 / 382.07 (12.32) / 1,209.24 / 93,813.62
Apr / 891.31 / 700.00 / 364.89 (12.16) / 1,226.42 / 92,587.20
May / 891.31 / 660.00 / 372.21 (12.01) / 1,179.10 / 91,408.10
Jun / 891.31 / 950.00 / 355.69 (11.86) / 1,485.62 / 89,922.48
Jul / 937.16 / 888.88 / 360.72 (11.63) / 1,465.32 / 88,457.16
Aug / 937.16 / 700.00 / 367.12 (11.47) / 1,270.04 / 87,187.12
Sep / 937.16 / 645.00 / 327.71 (11.30) / 1,254.45 / 85,932.67
Oct / 937.16 / 650.00 / 345.62 (11.14) / 1,241.54 / 84,691.13

Year To Date Totals
Std Payment / Overpay / Interest / Net Reduction / OP Reserve / Balance
8,970.98 / 7,299.17 / 3,617.81 / 12,652.34 / 16,213.24 / 84,691.13

financialbliss

uzubairu - just done the same - you beat me to it...:D

Excellent reductions there!

FB.

uzubairu

I was paid last week and I have an extra £50 due to the SAYE payments being completed.

I'll add that to this month's overpayments.

I'll have £50 extra this month and December, before the payments for my latest SAYE begin in January.

I'll be sub £84,000 by the end of this month and I will have reached my revised target. :j

I think I'll be starting the MFiT-T2 around £83,000

uzubairu

I posted this comment on my diary last year on the 11th December 2008.

uzubairu wrote: »

I've joined the 2009 MFW thread and my target is to get the mortgage below £88,000.
It currently stands at £97,450.

I'm secretly hoping to get it to £85,000, but that would probably be dependant on profit share from our respective employers, and I wouldn't want to set an unrealistic target.

OH hasn't received profit share yet (gets it this month) and I've kept mine as shares and not cashed them in.

Without a drastic reduction in our living standards, we made a large dent in our mortgage in just 11 months.

All thanks to the hints, tips and words of encouragement from the wonderful users of this forum.

Thank you all! :beer:

pavlovs_dog

uzubairu wrote: »

I posted this comment on my diary last year on the 11th December 2008.



OH hasn't received profit share yet (gets it this month) and I've kept mine as shares and not cashed them in.

Without a drastic reduction in our living standards, we made a large dent in our mortgage in just 11 months.

All thanks to the hints, tips and words of encouragement from the wonderful users of this forum.

Thank you all! :beer:

thats what i love so much about this part of the board, it really shows what a big difference the little amounts can make. Well done on your excellent progress!

uzubairu

uzubairu wrote: »

I've got to start looking for insurance for my car (Mini Cooper/Chili Pack 2007).
My renewal arrived yesterday from Swinton and with 10 years NCB, they've found me a policy costing £865 and they attached someone else's insurance certificate (which was for a lot less). :eek::eek:
I paid £565 last year.

Looks like a few hours of research are required.

I will be paying for my policy from my cashback saving account funds which has about £600.

StuartGMC wrote: »

Don't forget the direct insurers too who don't always appear on comparison sites; Direct Line must be worth checking out, my 3.0L S-Type Jag only cost £403 this year (but obviously locality etc can affect premium and it is parked off-road at home). Hope you can get a quote below £500.

I finally sorted something out after much searching.

In 3rd place Direct Line wanted £560
In 2nd place Likewise Insurance wanted £512
1st place goes to FluxDirect that have found me insurance with NIG and I paid them £428.
No cashback through Quidco etc. this year but a much better price which I don't think I can complain about . :beer:
My stats: M11 / Female / No points / No accidents in last 5yrs / parked on driveway

I also checked the mortgage this morning and it has gone below £84,000.

I've made this month's £500 overpayment and I hope to add another £250 later this week.

At the weekend I joined the 2010 MFW challenge (run by cake21) and this will run alongside my MFiT-T2 challenge to reduce mortgage by £50,000.
I have pledged to reduce my mortgage by approximately £17,500 in 2010.

I hope that I can do this because I have smashed this year's original target (£9,350) and look set to make a reduction of about £15,000 by the end of December.
I'll probably pay £500 less interest, so I'll still have an extra £2,000 to find to hit that target.

RosieTiger

Well done on the progress.

one thing we noticed on insurance and Quidco is that a quote from Money Supermarket for Esure and same quote via Quidco to Esure was different by £45. The exact amount they give back on Quidco. there was no option to recover the old quote either.

uzubairu

I've paid in another £225 today, so the overpayments for November now stands at £725.

I hope to add another £100 before the end of the month.
I've listed some stuff on eBay and hopefully, they should fetch at least £100 (maybe more).

I worked some overtime last Sunday evening, and I have some mileage to claim back, so I should have an extra £150 in my pay next week.

It's less than a month to the start of the MFiT-T2 challange.

setmefree2

uzubairu wrote: »

I've paid in another £225 today, so the overpayments for November now stands at £725.