Done it!!

ulrike

As of today we are Mortgage FREE, after 16 Months, NOT YEARS!! of hard slog to repay 60k we have finally got rid of it.

having read Martins Money for years now he was definitely an inspiration of achieving this goal sooner rather than later. A BIG THANK YOU to all of you who have or are in the process to achieve the same goal!

I will go to work today with a big smile on my face knowing I am no longer a mortgage free wannabe. I have finally crossed the line to the other side!! Now I will have to find some other project I can get my teeth into.
I will still keep reading your comments and to all of you out there who are still trying, keep going as the your goal is well worth persuing.
I tell you how we did it. We borrowed from the Nationwide 60k on their variable Mortgage. Every month my wages , around £850 went on overpaying(NO shoes and Handbags!!) Then last year we redeemed our 2 Endowments(thank god as we would have lost LOADS A MONEY).That came to just under 25k, with 15k of savings thrown in and a few bonuses from work,voila no more Mortgage. Sounds easy and in hindsight it was, but we have started saving for this 10 years ago and now own a House worth 200000 k. Anything can be achieved if your mind is set to achieve your goal. In the meantime I have been made redundant , finished work on a friday and started a new job on the monday. So I was affected by the "Credit crunch "as well but I was down and dusted myself off, now I am in a job I love and have already been offered Promotion after just 4 months into it.
Good luck
Ulrike
:j

seven-day-weekend

Congratulations and well done Ulrike! Have you put your story on the 'Mortgage-Free Roll of Honour'? (Sticky thread at the top of the Mortgage-Free Board?).

Welcome to the world of mortgage-free! Nice, isn't it?

chloecat_2

Ulrike that is fantastic news, well done you:T

You have certainly set my Saturday off to a good start:j have fun deciding what you are going to do next,

Chloecat♥

RosieTiger

Well done I'm sure it must feel fantastic !:beer:

Desperate_Housewife_2-2

Well done!!!

nads

Congratulations

Welshlassie

Well done you, what a great first post, we'd love to hear how you managed such an achievement in such a short space of time, you must have loads of tips that we may be able to use. It would be great to hear them.

PasturesNew

Welshlassie wrote: »

Well done you, what a great first post, we'd love to hear how you managed such an achievement in such a short space of time, you must have loads of tips that we may be able to use. It would be great to hear them.

An overpayment of about £300/month, or £70/week does it
http://www.google.co.uk/search?hl=en&q=60000%2F16%2F12&meta=
http://www.google.co.uk/search?hl=en&q=60000%2F16%2F52&meta=

Well done OP.

Welshlassie

PasturesNew wrote: »

An overpayment of about £300/month, or £70/week does it
http://www.google.co.uk/search?hl=en&q=60000%2F16%2F12&meta=
http://www.google.co.uk/search?hl=en&q=60000%2F16%2F52&meta=

Well done OP.

I meant how he managed to find that much extra, I can do maths thanks even if you can't!

Little_Mama

:TBrilliant - well done Ulrike:T

Enjoy your mortgage freedom

LM

blueberrypie

PasturesNew wrote: »

An overpayment of about £300/month, or £70/week does it
http://www.google.co.uk/search?hl=en&q=60000%2F16%2F12&meta=
http://www.google.co.uk/search?hl=en&q=60000%2F16%2F52&meta=

Well done OP.

I think you've worked it out for repaying £60k over 16 years, but the OP said 16 *months* (although I wonder if she did mean years).