Mortgage free in 5 years.

kittiej

Hello

I completely forgot about this thread until the other day so I am going to start posting again because I still aim to be MF asap and if I stick to my original plan then it will give me a goal to reach for.

So then after 3 years the mortgage stands at £12183 and I am looking at just under 2 years to pay it off.

I have absolutely no idea if I will manage it but I will give it a damn good go As you will see from my sig I am trying to save up to buy a plot of land so I can build my own eco home but I figured if I can pay as much debt off as possible to enable a larger monthly savings pot to build up then it's all good.

I also want to pay my mortgage off asap because I have a nasty feeling that my job is going to be made redundant in the not so distant future and if I am still in my current employment in 2 years time then I will have been very fortunate. Not to worry though as the redundancy payment will be a tidy little sum and if I don't have a mortgage then I won't be bothered if all I can get workwise is a job paying minimum wage.

So this is my 'rez' post, wish me luck lol.

kittiej

Helloo again

I've just logged onto my mortgage account and today it stands at £12184.86 so it seems to be increasing daily but I don't know by how much.

I'll check back tomorrow (if I remember!) to see what it says so I can work it out. It's all a bit confusing all this interest and mortgage stuff. I will be so glad when it's gone, it causes me to worry sometimes and I know MSE says pay off debts with the highest interest first but I can't help feeling I need to pay my mortgage off until the house is all ours and nobody else (bank) has an interest in it.

I will be able to feel better about it all then especially if I were to lose my job and also because of the mortgage the house never really feels like it's ours.

Strange but true

alwaystryyourbest

Hi my mortgage is with northern rock/virgin money...( daily intrest.)
when ever i make a overpayent the total goes down plus a little bit more down because of less intrest... To me it seems wrong for yours to be going up. ..
Anyway keep at it..I sure it will go down soon....

HelenDaveKids

Kittiej - my morgage does that, which also confused me, but I have worked it out. Each month when I pay the normal payment, that whole amount comes off, then each day they add the daily interest, right up until the next payment.
HTH

kittiej

Hi and thanks for the replies guys.

I cannot access my mortgage account as the Halifax site says not all of my information is available and to check back later

Never mind I'll just keep checking!

kittiej

So I re-checked my mortgage account and the balance is still the same as 2 days ago so I will have to just keep checking it each day until I can figure out what the deal is.

Never mind, it's all good fun

Kodagirl

Hi,Kittiej,
Wishing you all the best in making your dreams come true!!!:)

kittiej

Thanks Kodagirl and gl with your own journey

kittiej

Well hello again

After checking the mortgage account daily I can report that there has been no budge in figures so I don't know what their game is lol.

I don't know about anyone else but when I logged into Halifax online banking I had a message to say that the way my mortgage details are displayed are going to change, whatever that means.

So nothing spectacular to report but I will keep a daily look at my account all the same.

puregeordie

kittiej wrote: »

Well hello again

I don't know about anyone else but when I logged into Halifax online banking I had a message to say that the way my mortgage details are displayed are going to change, whatever that means.

.

Hi, Everybody would of got that message,
http://www.halifax.co.uk/mortgages/help-and-advice/existing-customers/how-we-manage-your-mortgage/

cheers.