£161,044.25 reasons to be mortgage free

abba1772

Happy new home xx

Muser1

Congratulations on the new house :j

CathT

Good to see you back WABL.

wantabetterlife

Thanks abba, muser and cath for your lovely messages. I am finally online with the Halifax and have just updated my signature . We owe a massive £176358:eek:. I have just overpaid £20 to make myself feel better.
I really need to come up with a plan because this is way too much money to owe and we had to extend our term and it's now 28years and 9 months! I am hoping that writing it down will give me the kickstart I need to start making a dent in this.

wantabetterlife

£4 something received from quidco...rounded it up to £5 and made an overpayment :j

wantabetterlife

We have scraped into the 175's this month!!!....this is a really big elephant

wantabetterlife

Just managed to get into the 173s this month, with the balance at £173996 :j . It's going to be a tight few months with summer holiday and new uniforms to buy. I have increased our regular monthly payment by £100 so that is the least we will be overpaying. Just love the Tilly tidies and am convincing myself that it will all add up

wantabetterlife

13 months since my last update :eek::eek:...really must do better. We are still plodding away and are now in the 168s. Managed to get 60k of our mortgage on a better interest rate from 4.29% to 2.19% and that kicks in this month. Roughly works out at £80 per month saving that we are ploughing back into overpayments. That will take monthly overpayment to £180 and our daily: interest will fall into the £16.00 something per day bracket. :j:j

wantabetterlife

With the new deal our daily interest has dropped by over £3 per day and is now at £15.43!! Hopefully we will start to see the snowball effect take pace a bit now :j

wantabetterlife

Staring 2018 in the £166's. I can change 90k of the mortgage on the 1st of February from 4.39% to hopefully 2.29%. This should mean a good reduction in interest paid . I have joined the 2018 MFW challenge to keep me motivated...aiming for £5k between our home and BTL :j