Mortgage Free By 30

laurasavon

It's been a long time since i've updated but not really much to update on really

I've managed to keep up the £250 over payment each month :j but unfortunately the overdraft has been creeping up :mad: as hubby was laid off from work and still hasn't found another job yet now his chemo has finished

We're off on holiday in a few weeks so hopefully next year hubby will find a job and we can make a bigger dent in the mortgage!

babyb06

Just stumbled across your diary for the first time (I started my own in September but have lurked for many months prior to that). Nice to read a diary of another 'young one' (I am 26) determined to clear their mortgage as soon as possible.

Interesting to read about you owning shares - something I have thought about but not sure where to start - how do you buy 100 M&S shares for example? Do you need to go through a broker or something? If so, surely the charges would mean you need to buy large amounts.

It's amazing how much you have achieved in 11 months, sorry to see it has been a tough year with your Hubby's illness - hope he is on the mend!

BabyB

Engeroosi

I am also 26, wife to be(in 3 weeks) is 24 and I also want to get rid of the mortgage ASAP! Problem is I fixed at a high rate of 6.29(was good at time) and the redemption penalty makes it less appealing to remortgage. 140,000 left with 23 years. Hoping to be MF by time im 40!

Keep up and hope things improve health wise! Health is the main concern, money means nothing.

rictus123

Jesus well done you on (please dont be offended) doing so much on a reasonable salary!!

Do you have any plans to increase income?

wynnvegas

Hi Laura,

I too hadn't noticed your diary previously. I think you've got a great ambition and I wish you all the luck in the world getting mortgage free before you're 30. Hope your husband gets a new job soon (I'm told things are picking up!) and you can start battering down the amounts owing.

Cheers,

Billy

laurasavon

babyb06 wrote: »

Interesting to read about you owning shares - something I have thought about but not sure where to start - how do you buy 100 M&S shares for example? Do you need to go through a broker or something? If so, surely the charges would mean you need to buy large amounts.

Hi Babyb06

I buy my shares through a sharesave scheme at work so it comes straight from my salary with no fees.
I have actually bought 100 M&S Shares as I heard they send shareholders freebies at the end of the year, I bought them through Halifax but there was a fee about £10 I think.

laurasavon

Engeroosi wrote: »

I am also 26, wife to be(in 3 weeks) is 24 and I also want to get rid of the mortgage ASAP! Problem is I fixed at a high rate of 6.29(was good at time) and the redemption penalty makes it less appealing to remortgage. 140,000 left with 23 years. Hoping to be MF by time im 40!

Keep up and hope things improve health wise! Health is the main concern, money means nothing.

Thanks Engeroosi, hubbys health is a lot better, he just has to go for quarterly scans / checkups - he was very lucky to catch it early so his treatment was shorter than a lot of people

6.29% :eek: that's a scary rate - good luck with your overpayments you should really see a difference for every £ you overpay

laurasavon

rictus123 wrote: »

Jesus well done you on (please dont be offended) doing so much on a reasonable salary!!

Do you have any plans to increase income?

Not offended at all, we don't have any kids, don't go out that often and our cars are paid for so it's only really household bills to pay for.

I'm hoping to, I had a promotion this year and i'm working vary hard to hopefully get a good bonus and if there are any promotions advertised next year to be seen as a potential candidate.

I'm also an Avon rep and sales leader so that helps for extra cash.

laurasavon

wynnvegas wrote: »

Hi Laura,

I too hadn't noticed your diary previously. I think you've got a great ambition and I wish you all the luck in the world getting mortgage free before you're 30. Hope your husband gets a new job soon (I'm told things are picking up!) and you can start battering down the amounts owing.

Cheers,

Billy

Thanks Billy, hopefully the new year will be a new start on the jobs front for him

Engeroosi

yeah but its nearly 6 grand to get out of the fixed rate though so just got to bite the bullet for another 3 years.