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MFW by 40 - I'm trying (Very Trying Apprently !!)

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  • hillcats
    hillcats Posts: 899 Forumite
    Part of the Furniture 500 Posts Photogenic
    We have just nudged our nose past another mile post, and our total outstanding mortgage amount is now down into the high £80k 's instead of the previous 90k 's .... (see signature)

    I will be 40 by mid November 2015, leaving us just over 5 1/2 years, it is going to be a really tough target to beat, but hey-ho!
    ORIGINAL MORTGAGE AMOUNT £106,454.00 (Started Sept 2007)
    NOV 2021 O/S AMOUNT £1,694.41 OUR DEBT REDUCED BY £104,759.59 by std regular, over-payments & off-setting.
    BofE +0.19% Tracker Repayment Offset Mortgage Discounted Sept 07-10 then increased to BofE +0.62% until 2027
  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    hillcats wrote: »
    We have just nudged our nose past another mile post, and our total outstanding mortgage amount is now down into the high £80k 's instead of the previous 90k 's .... (see signature)

    299674-congrats_keep.jpg


    on passing that milestone :T:T:T
  • hillcats
    hillcats Posts: 899 Forumite
    Part of the Furniture 500 Posts Photogenic
    Come and celebrate with me...

    We have just passed another milestone today, we are now owing in the high 70k bracket, these low interest rates and our tracker are helping a treat.
    ORIGINAL MORTGAGE AMOUNT £106,454.00 (Started Sept 2007)
    NOV 2021 O/S AMOUNT £1,694.41 OUR DEBT REDUCED BY £104,759.59 by std regular, over-payments & off-setting.
    BofE +0.19% Tracker Repayment Offset Mortgage Discounted Sept 07-10 then increased to BofE +0.62% until 2027
  • hillcats
    hillcats Posts: 899 Forumite
    Part of the Furniture 500 Posts Photogenic
    Another update for our thread... We have now got our outstanding balance into the high 60k bracket after only 11 months ! Hopefully we'll be able to repeat this again if rates stay static for even longer...
    ORIGINAL MORTGAGE AMOUNT £106,454.00 (Started Sept 2007)
    NOV 2021 O/S AMOUNT £1,694.41 OUR DEBT REDUCED BY £104,759.59 by std regular, over-payments & off-setting.
    BofE +0.19% Tracker Repayment Offset Mortgage Discounted Sept 07-10 then increased to BofE +0.62% until 2027
  • hillcats
    hillcats Posts: 899 Forumite
    Part of the Furniture 500 Posts Photogenic
    Here is the yearly update to my thread.... We have now moved our mortgage debt down another level and now we owe in the high 50k bracket! The current low BofE base rate of 0.50% is helping a treat !!
    ORIGINAL MORTGAGE AMOUNT £106,454.00 (Started Sept 2007)
    NOV 2021 O/S AMOUNT £1,694.41 OUR DEBT REDUCED BY £104,759.59 by std regular, over-payments & off-setting.
    BofE +0.19% Tracker Repayment Offset Mortgage Discounted Sept 07-10 then increased to BofE +0.62% until 2027
  • hillcats
    hillcats Posts: 899 Forumite
    Part of the Furniture 500 Posts Photogenic
    Great News - we have now cleared the half way mark...
    We have shifted over 50% of our original mortgage debt.
    ORIGINAL MORTGAGE AMOUNT £106,454.00 (Started Sept 2007)
    NOV 2021 O/S AMOUNT £1,694.41 OUR DEBT REDUCED BY £104,759.59 by std regular, over-payments & off-setting.
    BofE +0.19% Tracker Repayment Offset Mortgage Discounted Sept 07-10 then increased to BofE +0.62% until 2027
  • hillcats
    hillcats Posts: 899 Forumite
    Part of the Furniture 500 Posts Photogenic
    I provide the usual yearly update today as we have dropped down another level and our mortgage debt is now in the high 40k bracket...

    As we are clearing 10k PA from the outstanding balance this means my original estimate to be MF by 40 is now looking likely to over run by three years maximum - still, not too bad !
    ORIGINAL MORTGAGE AMOUNT £106,454.00 (Started Sept 2007)
    NOV 2021 O/S AMOUNT £1,694.41 OUR DEBT REDUCED BY £104,759.59 by std regular, over-payments & off-setting.
    BofE +0.19% Tracker Repayment Offset Mortgage Discounted Sept 07-10 then increased to BofE +0.62% until 2027
  • hillcats
    hillcats Posts: 899 Forumite
    Part of the Furniture 500 Posts Photogenic
    Another one of these yearly updates, our debt is now in the 30k bracket...
    ORIGINAL MORTGAGE AMOUNT £106,454.00 (Started Sept 2007)
    NOV 2021 O/S AMOUNT £1,694.41 OUR DEBT REDUCED BY £104,759.59 by std regular, over-payments & off-setting.
    BofE +0.19% Tracker Repayment Offset Mortgage Discounted Sept 07-10 then increased to BofE +0.62% until 2027
  • Peter999_2
    Peter999_2 Posts: 1,317 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Realy well done - how long have you got to go before your 40th?
  • hillcats
    hillcats Posts: 899 Forumite
    Part of the Furniture 500 Posts Photogenic
    Peter999 wrote: »
    Realy well done - how long have you got to go before your 40th?

    Thanks Peter, er - November 2015... :o. = mission failed !
    So based on our current level of repayments we should be knocking on the door of the high 20k debt a few months after... (Jan 2016)
    ORIGINAL MORTGAGE AMOUNT £106,454.00 (Started Sept 2007)
    NOV 2021 O/S AMOUNT £1,694.41 OUR DEBT REDUCED BY £104,759.59 by std regular, over-payments & off-setting.
    BofE +0.19% Tracker Repayment Offset Mortgage Discounted Sept 07-10 then increased to BofE +0.62% until 2027
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