The Mortgage Free in Three - Take 2 challenge (MFiT-T2)

shangaijimmy

shangaijimmy wrote: »

Just £11 off being below 155k, and a matter of days before the end of the month. Hoping tomorrows food shop we can save the needed £11!!! Though it'll be tough coz the cupboards are really bare!!!

Didn't quite make it gang!! The shop was under budget but only just so i've still got £5 to find, to break the 155k mark by the end of the month!! Last chance saloon is partners phone bill due tomorrow (needless to say i'm not optimistic!!)

Still it's been a good 3 months for overpayments so i ain't complaining.

wynnvegas

Morning All,

Another month down - just the 209 days and 7 mortgage payments to go. It's getting harder but there is definitely a hint of a checkered flag in my tunnel vision!

Normal mortgage payment today of £827.06. Cleared the monthly interest accrued of £23.99 and knocked off an overpayment of £1,821.93 to even things up. Mortgage now beaten down below the £20,000 marker - now at £18,375.

Cheers,

Billy (#85)

Daisy_Duck

wynnvegas wrote: »

Normal mortgage payment today of £827.06. Cleared the monthly interest accrued of £23.99 and knocked off an overpayment of £1,821.93 to even things up. Mortgage now beaten down below the £20,000 marker - now at £18,375.

Well done- nearly there! :T

SuiDreams

Just over a month till the next update and I think I'll be behind target again, actual mortgage balance has gone down more than prevous months, but savings haven't increased by much. This is due to paying off next months holiday and a few other holiday related expenses. Hoping to be back on target for September update, fingers crossed.

gerbiljo

wow wynnvegas! its interesting seeing ur payments as they are simalr chunks to ours, hopefully in a couple of years time i will be doing the same count down as you!

were a bit ahead, tho we did expect to be initially and then pay a bit less due to building works which meant our final target was a bit generous so i think we may be able to get a bit lower if all goes to plan. Paid alot off again this month but probably will just be about just hitting target from now on

black_taxi_2

may payment £540

Daisy_Duck

Hi everyone

I was wondering if there was a website somewhere with a tracker style thing on it to give an idea as to how the value of a house might change month to month?
I've found the Halifax Price Index figures but they're in the 500s and I don't know how to equate this to values?
What I would like to do is track the value of my property over time- any ideas?

Thanks for any help!

DD:)

Kaz2904

I've not heard of one but house price is not that relevant unless you want to move house. Or remortgage I suppose- need a low ltv to get a good mortgage.

financialbliss

Daisy_Duck wrote: »

What I would like to do is track the value of my property over time- any ideas?

Hi DD,
I use the moneyfacts site:
http://moneyfacts.co.uk/economy/uk-house-price-index/

which keeps tabs on the Halifax index - similar to the Nationwide index except compiled by Halifax

What I do is keep a sheet of the index and update this every month. If the index has changed up by say 1.5% for April, I would then apply this increase to my house value.

I've done this since 2004 using my purchase price as a starting price and along with my outstanding mortgage value, I can not only get a reasonable estimate of my house price, but also my loan to value (LTV) too.

FB.

Daisy_Duck

financialbliss wrote: »

Hi DD,
I use the moneyfacts site:
http://moneyfacts.co.uk/economy/uk-house-price-index/

which keeps tabs on the Halifax index - similar to the Nationwide index except compiled by Halifax

FB.

Thanks

How do you equate these figures into percentages? Am I being daft lol?! They are in the 5 hundreds... what do I do next?

Thanks for your help! :beer: