Louba's MF Challenge

Louba

Finally a bit of progress Mortgages stand at:

£146,000 for the mortgage on my own flat which is rented - I've just set up a DD to over pay £1000 a month and made a lump sum over payment of £7000 thanks to an unexpected bonus that has taken it from £164,000 in April 2008 to £146000 at today's date. I recently had it valued and it wasn't pretty. If it covered the OS mortgage amount I'd be lucky so I've decided to hold on to it and keep chipping away to bring it down while it is still on SVR - the fixed rate on offer is a nasty 6.78% because it is rented so the rational is to reduce the loan to value while the interest is low. I've agonised over the wisdom of this and consulted an adviser and this currently seems like the best option.

Main mortgage with OH is £221,227 and we're still overpaying that. EEK!!

We've also tring to save for a wedding so we're being really careful with cash just now. I've looking into doing a little bit of consultancy work to boost our income a bit.
Lx

setmefree2

Well done on all your progress :T:T