Yay, paying some more off!

Gillybean

:j :j :j :j :j

We've come into a bit of money so are able to chuck a bit more at the old mortgage- yippee!

The deal we're tied into only allows us to overpay 10% each year. So we're paying up to the 10% for 08/09 this week and then once the new financial year starts we can chuck about another 11k at it.

Dh and I are really focussed on OPing as much as poss, when we've reached the limit to what we can OP this year we'll just hang onto it and pay off it when the tie in period ends (2011). Our unofficial goal is to be MF by the time we're 40, so 7 years time, and I really think it's do-able. My circumstances will be changing in the next few years as the kids get older. I'll be able to spend more time working at my business (toddler group) and therefore earning- gotta be optimistic. At the mo its very part time, just a couple of mornings a week and yet we're so busy can't keep up and feeling frustrated at having to turn things down over the next few months (baby due in June).

We've done as much as we need to do to the house right now. While I'd love a new kitchen (current one mings and is really lacking in storage), the one we've got is perfectly functional so the money goes to the OP cause.

This is not our forever house, but we intend to stay for at least the next 6-10 years, until the kids get bigger and need more space (teeny tiny bedrooms). But it'll be great when we do come to move to have the entire value of this house as equity, it'll make such a difference to the next move we're able to make.


Can't wait to get on the phone tomorrow and make that payment and also see how much we can OP by come April. And of course, get an up to date figure of how much is left to get rid of.
Woohoo, feeling positive!

Nail_Lad

Good for you! Sounds like you're aware of the boundaries and are working through them and that you have a goal and are going for it ! WELL DONE!

setmefree2

well done you :T

Tesco_points_addict

Well done you!! Good luck with the baby x
TPAx

RosieTiger

Hey great timing - well done !

Gillybean

Yay, just made my OP, have changed my sig.

Also changed the date on which the monthly payment goes out. Everything else DDwise is paid within the first 14 days of the month apart from this which was very annoying. So it'll be nice to see all monthly bills done and paid for at the beginning and then anything left can be transferred over to the OP fund. I think there should be about £150-200 after everything's gone out. My £2 coin jar is feeling rather heavy, so must count that up and pay in soon, and my change jar is also about 2-3 full. We're looking good!

Next years OP of 10% should take us under the 100K mark- woohoo!

uzubairu

Gillybean wrote: »

Yay, just made my OP, have changed my sig.

Also changed the date on which the monthly payment goes out. Everything else DDwise is paid within the first 14 days of the month apart from this which was very annoying. So it'll be nice to see all monthly bills done and paid for at the beginning and then anything left can be transferred over to the OP fund.

I did the same last summer (for the very same reason) when we changed the bill payment account.
Mortgage used to come out on the 16th and that bugged me too. :mad:

All the direct debits are now out by the 10th of the month.