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Canne's Aussie Mortgage Free Diary

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Comments

  • wantabetterlife
    wantabetterlife Posts: 1,296 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Well done Canne with the overpayments, your making great progress:j:j
    Credit card £4461.15Home mortgage £137117Buy to let mortgage £83,000
  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    Well done on those OPs :T:T:T:T
  • d-seven
    d-seven Posts: 351 Forumite
    Mortgage-free Glee!
    Good luck with the overpayments! Its a nice part of the world you're living in. How far are you out of Sydney are you just out of interest?
  • gallygirl
    gallygirl Posts: 17,240 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Great start to the year, well done :j
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
  • canne_2
    canne_2 Posts: 124 Forumite
    Hi wantabetterlife, setmefree2, d-seven and gallygirl,

    I am about 85km south of Sydney in an area called the Illawarra not far from Wollongong.

    Cheers

    canne
    The Mortgage Free in Three - Take 2 Challenge (MFiT-T2): #58 - Goal: Get to AU$50 000 by 12/12/12
    Current balance: $84 693
    2011 MF Wannabes: #102 - Goal: Overpay mortgage by AU$15 000
    Total paid for 2011: $2253.16
  • canne_2
    canne_2 Posts: 124 Forumite
    I haven't updated for a few days but I haven't had any money to put extra to the mortgage so I haven't had anything to say but then I have just thought of something!

    The Reserve Bank of Australia meets this Tuesday and all the experts expect them to raise interest rates by 0.25%. This will bring our mortgage rate from 6.1% to 6.35%. I have heard a report that our bank might not raise their rates by the full 0.25% so here's hoping!

    Should be an interesting week. We are paying minimum payments at the moment but we have paid heaps extra so hopefully the minimum payment won't go up...so far we have over $25 000 in extra repayments available to redraw. We have built that up in a year and 2 months. Not bad for 3 pensioners!
    The Mortgage Free in Three - Take 2 Challenge (MFiT-T2): #58 - Goal: Get to AU$50 000 by 12/12/12
    Current balance: $84 693
    2011 MF Wannabes: #102 - Goal: Overpay mortgage by AU$15 000
    Total paid for 2011: $2253.16
  • canne_2
    canne_2 Posts: 124 Forumite
    Good news! Interest rates didn't go up, they stayed the same. Pftttt to the experts!
    The Mortgage Free in Three - Take 2 Challenge (MFiT-T2): #58 - Goal: Get to AU$50 000 by 12/12/12
    Current balance: $84 693
    2011 MF Wannabes: #102 - Goal: Overpay mortgage by AU$15 000
    Total paid for 2011: $2253.16
  • abouttimetoo
    abouttimetoo Posts: 1,860 Forumite
    Part of the Furniture Combo Breaker
    canne wrote: »
    Good news! Interest rates didn't go up, they stayed the same. Pftttt to the experts!

    Hi Canne, great news :D

    You're doing great
    MFW Start Date 1.4.08. Updated 23.1.18. MFW date 1.8.18
    Original Mortgage o/s £187,643 / £71,904 (-115,739)
    Repay o/s £92,661 / now £55,900 (-36,761)
    Int Only o/s £94,982, now £16,004 (-78,978)
    Total daily interest £1 [a) £0.77 b)£0.23
    Total OP's:2018 target £TBC YTD £1,995
  • canne_2
    canne_2 Posts: 124 Forumite
    I have paid $396.82 extra to the mortgage so far in February...along with the $339 minimum payment this is a total of $735.82...

    Which makes the balance $102 800.26...

    I have discovered that shopping online for groceries is cheaper than going out to buy them. All I have to buy at the shops now is bread and some fruit and get money out. It's cheaper because I don't have to pay for a bus fare to get to the shops and a taxi home, that's a $25 saving...Plus I am not tempted to buy anything extra...AND I'm not tempted to buy takeaway food to eat while shopping... this potentially is at least another $15-$20 saving!

    So even though buying online is slightly more expensive per item, the savings make up for it...

    I get a lift down to the shops every Tuesday and a lift back because I go to craft for about 4 hours so I will buy the extra things we need then...
    The Mortgage Free in Three - Take 2 Challenge (MFiT-T2): #58 - Goal: Get to AU$50 000 by 12/12/12
    Current balance: $84 693
    2011 MF Wannabes: #102 - Goal: Overpay mortgage by AU$15 000
    Total paid for 2011: $2253.16
  • gallygirl
    gallygirl Posts: 17,240 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Well done, you'll be in the 90's in no time :j
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
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