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Mortgage Free by the time I'm 40. 10 years and counting!

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Comments

  • Emsky123
    Emsky123 Posts: 180 Forumite
    Mortgage-free Glee!
    Wow Barny, your dedication to overpaying is insperational, I have just started this year to send OP's as and when i get extra cash and hope i can be as dedicated as you have been over the last few years. I have been reducing the terms so my normal payments go up but really want to step up the payments in the next few years. I too want to be Morgage free by 40 although i have 3 years less than you to achieve it!
    Balance as at Dec 2010 £88,000
    Balance as at Oct 2013 £0
    Original MF date 01.05.2027 :mad:
    Morgage free as of 24/10/2013 (13.5 years early) :j
  • originalmiscellany
    originalmiscellany Posts: 1,655 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Mortgage-free Glee!
    Barney, I've adopted your strategy a little bit too, where I am overpaying an amount most weeks - I plan how much I have to spend and anything I have left gets put into the pot. Seeing you in action reminds me it's amazing how quickly you can make inroads :)
    Well done that man.
    Feb 2012 - onwards MF achieved
    September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
    April 2018 down to 28.00 months vs 30.04 months at normal payment.
    Predicted mortgage clearing 03/2047 - now looking at 02/2045
    Aims: 1) To pay off mortgage within 20 years - 2037
  • Barny1979
    Barny1979 Posts: 7,921 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    and another £25 off! 2011 = £845
  • Barny1979
    Barny1979 Posts: 7,921 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    £10 from National Lottery into NR account.
  • Barny1979
    Barny1979 Posts: 7,921 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    £14.06 paid today
  • Barny1979
    Barny1979 Posts: 7,921 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    £43.26 paid off from ebay sales
  • Barny1979
    Barny1979 Posts: 7,921 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    £14.77 from ebay paid
  • Barny1979
    Barny1979 Posts: 7,921 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Payment of £72.91, making total January payments of £1000.00.
  • Barny1979
    Barny1979 Posts: 7,921 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Just called NR to release OPs to then pay off most of the unsecured loan element of the mortgage, should receive funds in 3-5 days.
  • Barny1979
    Barny1979 Posts: 7,921 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Just an update, my mortgage is down to £122,517.22.
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