Mortgage Free By 30

laurasavon

Engeroosi wrote: »

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.

Do you mean you have ERCs on any overpayment? A lot of lenders allow 10% overpayments without charging you

Engeroosi

I do overpay but would rather just re-mortgage to a cheaper rate but the ERC is way too much!

wynnvegas

Hi laurasavon,

Just noticed the new signature. Don't get too disheartened about the wee blips that occur which need the odd bit more borrowing. We didn't have a really good crack at the mortgage until we were 27 and still made it a good few months before we are both 30 so you've got time on your side.

Cheers,

Billy

laurasavon

wynnvegas wrote: »

Just noticed the new signature. Don't get too disheartened about the wee blips that occur which need the odd bit more borrowing. We didn't have a really good crack at the mortgage until we were 27 and still made it a good few months before we are both 30 so you've got time on your side.

Thanks Billy, we owe alot less money than we did at the beginning of the year so we're heading in the right direction

babyb06

I think it is amazing how you have cleared so much debt and paid down your mortgage! Billy's thread is inspirational - I highly recommend reading it - cleared so much in such a short time. Threads like you and Billy make me more focused to find ways of saving on my outgoings - 30 is impossible - but will be able to do a huge chunk and mean a great deposit for a forever home

BabyB

laurasavon

It's been a while since I've posted, but not really anything to add on the money front other than my regular £250 overpayment due to going on holiday for a few days :j (and spending too much!:eek:).

I want to write down my goals for 2011, hopefully now they are in black and white I might stick to them:

• Clear the overdraft and credit card for good
• Make at least £250 overpayment each month
• Clear the clutter in the house - and ebay anything sellable
• Once the house is clutter free look into getting a cleaner
• Loose a stone or two
• Remember to post on here more often
• Pass my AAT exams

laurasavon

Made a good start with the de-cluttering - four bags so far just from the living room. Not sure I should admit that it was that bad in the first place!

laurasavon

I've just been looking back at the first couple of posts I made at the beginning of the year and how much we owed.

The mortgage in January was £128k and it's now £122k so £6k has come off the capital this year, which isn't too bad considering the loans have now been paid off. And the term is now 20 years (although I want this to be paid off in 4) and I have a standing order set up for a £250 over payment each month.

I started the year without a job, although in the end I went back to the company I had previously worked for and now earn around £5k more than I earnt when I went back in January :j - so at the beginning of the year i'd planned to use my redundancy money to pay things off but I had to give that back, but in hindsight i'm glad I have a job now hubby is out of work.

2010 hasn't been a great year, hubby hasn't been well and still doesn't have a job but thankfully we have PPI and critical illness cover so we have been able to cope financially better than a lot would. Must chase up his Employment Support Allowance, he hasn't worked since mid June but we've still not recieved anything :mad:

Let's hope hubby can get a job and I get a decent bonus so we can pay off the overdraft then we can really get this mortgage down!

laurasavon

Ooops not been posting as much as i'd hoped:D

I've been working away a couple of days each week for the past couple of weeks so that's saved me a bit on food - must go to the supermarket today as we've not got much left in the house now.

I also need to spend a bit of time looking at my notes for my exam on Thursday as i've not yet looked at it :eek:

And I think I need to do some work because I just won't have time to do everything with the meetings i've got on Monday

Off for a soak in the bath first though;)

laurasavon

Last week seems to have flown by - must remember to put my expenses through for working away before I get my credit card bill

Did a big Asda shop yesterday, usuing a gift voucher my auntie gave me for Christmas so didn't cost me any real money and have a full fridge now

Unfortunately, my washing machine has broken this week :mad:, hubby has ordered a part as he thinks it's fixable - it's very noisy anyway so will probably need replacing soon anyway

Hubby also went into the job centre this week and doesn't think they will backpay his job seekers :mad: (they paid him employment support allowance until the end of October but we've only just had it), so not sure where we stand with the payment protection for the mortgage - I assume they won't back pay either and I was hoping we'd get those payments to chip into the overdraft but doesn't look likely now