Mortgage Free by 40 Challenge!

cake21

lewdawg, congratulations on your new arrival and the promotion :beer: Even if you end up with a bigger mortgage it will still be smaller than it would have been without your OPs, and just think of all the interest you've saved

MarieAAP

Hi MF'rs

Time for my update, I can't believe it has been sooooo long.

On 28 Feb I had £2,710 to pay. By this stage the wedding had been paid off (interest free CC) and the roof had been replaced, so my "idea" being MF by 2011 didnt work.

When I saw the amount left, I knew it was at least feasible to pay off by the summer. DH and I want kiddy winks, but i want to move first before they are conceived = a great big whopping incentive to pay off early and get those blooming Perm job offers.

I am due a job offer (and start being a perm, within 4 weeks). I have not been "shy" about this info, and if nothing has been received by the end of Apr, out goes the AF on a really serious basis. At the mo, its been 1-2 over 2/3 weeks when i see something really interesting.

My DH is being offered a 6mth rolling FTC with the company he has been with 15mths. 2 banks have said this would be majorily considered and would be willing to send to the Assessors.

But that is now why i was typing :P

What i hadnt realised when H gave me the "balance" was that was BEFORE I had paid off the sum, and tonight when I rang up, I found out, that i do not have any outstanding amount,

but I have only £53.40 left to pay of the £175 of the Admin fee, and then I shall be MORTGAGE FREEEEEEEEEEEE.

I just had to celebrate

This has happened 2mths early, so I have no idea what I should do next. Now that is a problem I dont mind having to tackle early.

M

katym79

wow, this has been a bit neglected hasn't it, so thought i'd update.
This time last year mortgage stood at £99,592. A year on its £95,637. In july i upped our overpayment by £100 to round it up to £800 per month. So we overpay about £224. Thats pretty much all we can do for now. Have no real aim at the minute - we want to move when we can get a decent mortgage, so i guess this extra effort we make on this mortgage will help us get a better place in a couple of years - here's hoping.xx.

miss_corerupted

oooo I had forgotton I put my name down for this. I'm such a ditz

I'm down to £65,000 now. I uped my monthly payment to £1000 even though my actual payment is £500. They keep putting it down as they won't reduce the term without me redoing mortgage so the adjust the monthly payment sneaky!! Standing order instead of dd sorted that out ha. I'm on track to pay off by 2016 if I keep this up so I will be mortgage free by 38. I would still like to this down even more if poss

miss_corerupted

ooo no one has been on here for agggggeeeeesssss!!! how is everyone doing??

I've uped my mortgage payment to £1100. i will put that into the calcutor spreadsheet when i get home to see if it makes a diff

hope everyone is going well

lewdawg

Through overpaying I've reduced my term from 19 years, to 13! Woohoo!

Now... I'm 30 next Jan, so next plan is to knock another couple of years off that 13...