MFW in 5 years

golfiematt · 4 August 2011 at 2:46PM

yeah one step at a time! if it goes well the plan is to get another in the future if we can afford to! I bet a lot depends on your tennants. Only thing i was worried about is getting a decent tennacy form. hopefully ill find someone pretty quick too

originalmiscellany · 4 August 2011 at 2:51PM

Golfiematt - well done! Good to see you staying on track and getting your mortgage down to under 30k. What's the aim for the end of this year (2011)? Is 25k possible?

golfiematt · 4 August 2011 at 6:54PM

thanks, my original plan was to get to 15k by 12/12/12. but with another 60k being added to my figures my target will be a new one which ive not decided yet.

golfiematt · 6 September 2011 at 9:30AM

ok ive not updated for about a month, as things stand ive got tennants in our flat and our new mortgage is around the 87k mark paying back £588 a month .Ive a few bills to clear so i dont think there will be much o.ping for the rest of the year. I will set a new target for 2012 when i get used to the new situation a bit more.

golfiematt · 22 June 2012 at 2:12PM

This is my first update this year, current mortgage stands at £83918.62, since ive last been on o/h has a newer car, we have a new tennant in the flat & im currently about to be made redundant, ive known since march but currently awaiting the union and company to agree whats happening.Since we purchased the flat last year we havent op'd as much as we should have due to various reasons and with the job looking dodgy. Ill try to update once per month.

golfiematt · 29 January 2013 at 11:54AM

Its been a while since I last posted. Our Mortgage now stands at £81'404.58 as of 29/1/13. Im hoping to get this below 80k by june. Had a really turbulent year last year losing my job. I found another after 6 weeks, although its only 21 hours guaranteed work and temporary so its not ideal. But in the current climate im just happy to be in work! . The age at which we will pay off the mortgage is currently 57! My short term target is to get this below 50.

golfiematt · 1 August 2013 at 8:33PM

still working 21 hours but getting 30+ hours average and i have been taken on permanent. The good news with our mortgage is it currently stands at £76758.54 as of 31/7/13 . taking the flat out of the equation we would owe £16758.54 so my next target is to get below 10k owing on our property which is > 70k . My target for this is before april 14. my wifes hours have dropped to 15 per week but im hoping they pick up towards the end of the year.

golfiematt · 10 November 2013 at 6:39PM

Mortgage currently stands at £73600 as of 10/11/13. I will probably do one more O.P.before the year end and im now pondering scaling back on the O.P.s. We have managed to have 3 holidays this year, 2 of them are mainly thanks to my parents heavily subsidising them. But other than the lovely holidays, things have been tight.There are lots of job in the house need paying for which i keep putting off trying to reduce the mortgage debt.Its all a balance and now the mortgage figure is getting close to what i deem as comfortable , priorities may change next year.

sarahevie · 10 November 2013 at 6:56PM

well done:D

we are the same, more family fun less ops etc.

Home mortgage and btl not at a manageable figure yet though, so must plough on but can see us changing tac next year too

gallygirl · 10 November 2013 at 8:36PM

Well, you could scrimp and save to pay the mortgage off while the house falls down around you. Or you could say to heck with it and do everything now. Or find a middle ground compromise. No point being miserable in trying to achieve an arbitrary goal. You've worked hard to put yourself in a position where you have choices - time to use them :T.