uzubairu's Mortgage Free Journey

uzubairu

February Update
We paid the proceeds of 2 matured regular savers directly into the mortgage (£13,000).

Standard mortgage payment will decrease to £443.16, because we have decided to keep the term the same.

2013 Mortgage starting balance = £60,188.26
2013 Overpayment Savings starting balance = £47,031.00
2013 Net Mortgage starting balance = £13,157.26


Month / Payment / Overpay / OP Savings / Mortgage / Net Balance.
Jan / 581.13 / 1,350.00 / 48,448.00 / 59,720.99 / 11,272.99
Feb / 581.13 / 850.00 / 36,457.00 / 46,225.61 / 9,768.61

Total overpayments (Year To Date) = £2,200.00

We are now sub £10K :beer:

misscousinitt

That must be a great feeling for you.

MCI

RosieTiger

Fantastic milestone to get to!

gallygirl

Wow, great progress :T:T:T.

uzubairu

Added another £100 to OPs from eBay sales.

February Overpayments so far:- £950.

uzubairu

March Update
Overpayments this month are: £800.00

2013 Mortgage starting balance = £60,188.26
2013 Overpayment Savings starting balance = £47,031.00
2013 Net Mortgage starting balance = £13,157.26


Month / Payment / Overpay / OP Savings / Mortgage / Net Balance.
Jan / 581.13 / 1,350.00 / 48,448.00 / 59,720.99 / 11,272.99
Feb / 581.13 / 950.00 / 36,557.00 / 46,225.61 / 9,668.61
Mar / 443.16 / 800.00 / 37,357.00 / 45,861.98 / 8,504.98

Total overpayments (Year To Date) = £3,100.00

I'll use this figure for th MFiT-T3 quarterly update.

I've got another regular saver maturing at the end of the week, so I've opened a Nationwide current account (paying 5% gross up to £2,500) to transfer some on the money to.

Work has been quite hectic, so I am happy that I have this week off on holiday.
Doing some training for the Manchester 10K (in May) and the Manchester Cycle 26 miles (in June).

uzubairu

I transferred the matures Regular Saver (HSBC) to the Nationwide and the remainder is in a Lloyds Vantage current account paying 3%.

I'm also going to open a Santander 123 Current Account for paying the bills and getting a decent rate of interest on any surplus savings (3% on £3K up to £20K).
There is a £60 cashback if you apply via Quidco (expires in a few days).

uzubairu

Regular overpayments for April have been made:- £850.

I ordered a new mountain bike via my employer's Cycle To Work scheme a few weeks ago and it arrived today.
I wasn't expecting it so soon, and thankfully my neighbour accepted the package since I was at work.

My old MTB will be on eBay by the weekend and I hope to get £300-£350 for it.
My new bike will cost approximately £425 via the scheme.

I've not been cycling to work whilst the weather has been so cold AND I've spent the last couple of months doing late shifts (finishing at 22:30) only. :mad:

The weather is improving and I'm working decent shifts now (involved in a special project for next 3 months), so I have every reason to get back to cycling to work.

Great Manchester Run (10K) is in 7 weeks and the Great Manchester Cycle (26 miles) is in 12 weeks.
I have been using the treadmill quite a bit and need to get out more now the days are getting longer.

uzubairu

I've been caught up with new job at work and my studies + trying to fit in some training for the upcoming 10K (only 2 weeks to go).
So haven't posted in a while, but hope to get back on track soon.
I've combined the updates for April and May.


May Update
Overpayments this month are: £950.00

2013 Mortgage starting balance = £60,188.26
2013 Overpayment Savings starting balance = £47,031.00
2013 Net Mortgage starting balance = £13,157.26


Month / Payment / Overpay / OP Savings / Mortgage / Net Balance.
Jan / 581.13 / 1,350.00 / 48,448.00 / 59,720.99 / 11,272.99
Feb / 581.13 / 950.00 / 36,557.00 / 46,225.61 / 9,668.61
Mar / 443.16 / 800.00 / 37,357.00 / 45,861.98 / 8,504.98
Apr / 443.16 / 850.00 / 38,900.00 / 45,464.21 / 6,564.21
May / 443.16 / 950.00 / 39,850.00 / 45,078.67 / 5,228.67

Total overpayments (Year To Date) = £4,900.00

uzubairu

I just about managed to get round the 10K last weekend, as it was boiling hot!It was really hard work.I've been out on my bike most evenings after work as the weather has been rather good and it is still light when I get home in the evenings.
Taking adavantage of the good weather, as I know that it will be raining again before too long.

June Update
Overpayments this month are: £850.00

2013 Mortgage starting balance = £60,188.26
2013 Overpayment Savings starting balance = £47,031.00
2013 Net Mortgage starting balance = £13,157.26


Month / Payment / Overpay / OP Savings / Mortgage / Net Balance.
Jan / 581.13 / 1,350.00 / 48,448.00 / 59,720.99 / 11,272.99
Feb / 581.13 / 950.00 / 36,557.00 / 46,225.61 / 9,668.61
Mar / 443.16 / 800.00 / 37,357.00 / 45,861.98 / 8,504.98
Apr / 443.16 / 850.00 / 38,900.00 / 45,464.21 / 6,564.21
May / 443.16 / 950.00 / 39,850.00 / 45,078.67 / 5,228.67
Jun / 443.16 / 850.00 / 40,746.00 / 44,712.80 / 3,966.80

Total overpayments (Year To Date) = £5,750.00