My Mortgage Quest: Go from 85% -> 60% LTV by October 2013

CathT

Hi Mike,

Have just caught up with your diary. Brilliant overpayments!

DJ_Mike

Thanks for the supportive posts!

Oh, and for those who are still interested - yes, I am still making packed lunches every day! Right now it's sandwiches with a choice of ham + mustard, or smoked salmon pate, or pork + onion pate filling! Plus a couple of yoghurts to finish. My packed lunches cost me around £1.20 - £1.70 a day. On the odd day I forget to get bread and end up buying lunch at work it costs me about £4 for lunch!!

DJ_Mike

It's been nigh on 3 years since I last updated this diary thread but I've still been going strong! My original target was to get down to 60% LTV by October 2013, then updated to the more challenging 50%. Well, as of Monday morning (1st July 2013), I officially hit 47%!

Being within 3 months of my current mortgage deal ending I was able to chat to my current lender about new deals... they got a fee-free 2-year fix at 2.59%, so I'm gonna go with that. It isn't the lowest percentage out there, but when I factored in the costs of moving versus the totally-fee-free value of staying it was the better choice to accept the slightly higher interest.

So here's wondering what my next challenge should be for the next 2 years... Down to 30% LTV perhaps?

frugalfrog

Great news on your progress!