** Jock_Tight** mortgage free diary

Jock_Tight

Overpayment for March has now came off bringing us down to £21,515

wynnvegas

Well done Jock. Looking forward to you firing through the £20k mark.

Cheers,

Billy

Jock_Tight

Aprils regular mortgage payment is now off bringing us down to £20,950, only one more month to go till we finally break through the £20k barrier!! We have been in the 20's since last August.

Also utilised the new tax years cash ISA allowance by transferring £5340 from one of my Lloyd's Vantage accounts into a Lloyd's fixed rate ISE (2 years) at 3.6% [our mortgage interest rate at 0%]

Cheers,
Jock

wynnvegas

Hi Jock,

Fair play on the ISA front. I still haven't bothered and missed the boat again with the ISA. I'll really need to give some consideration to getting one each for us next year. Although it made sense for us to do things other than overpay the mortgage, I eschewed the lot. Not that I regret it but I think you're properly on the ball with the balance you're striking.

Cheers,

Billy

Jock_Tight

Billy,

You only missed the boat for 2010-2011, as from today (6th April) we are in the new tax year, 2011-2012 so you have up till 5th April 2012 to put away £5340 (each) in a cash ISA.

I have more in cash ISA's (using my own allowance) than we owe on the mortgage Cash ISA's are for the long term and form part of my retirement strategy.

RosieTiger

Jock_Tight wrote: »

Billy,

You only missed the boat for 2010-2011, as from today (6th April) we are in the new tax year, 2011-2012 so you have up till 5th April 2012 to put away £5340 (each) in a cash ISA.

I have more in cash ISA's (using my own allowance) than we owe on the mortgage Cash ISA's are for the long term and form part of my retirement strategy.

Jock that's excellent, it counts as MF as far as I am concerned !!

SeriouslySeekingtoSave

Yep, I agree with Rosie. If you are making more on the ISA savings that on the mortgage repayments, you are Mortgage Free! (pats on back)

Jock_Tight

RosieTiger / SeriouslySeekingtoSave

I agree that with having savings exceeding the mortgage amount we are effectively mortgage free, however in my head we are not mortgage free untill the mortgage owed is zero!

Cheers,
Jock

Jock_Tight

OP for April now off bringing us down to £20,500 with 20 months to go

black_taxi_2

take-it your on-track for 1212 JT?