Mortgage Free by 40 Challenge!

miss_corerupted

ooo thanks for working out when i'll be 40 for me. it's something i'm refusing to do!!! i think i currently over pay mine total being £600. so i'm not short of doing it without making any changes as the interset is dropping every month. i have to pay £772 a month.

hmmm

skaps

Welshlassie wrote: »

yes include your normal mortgage payments.

Its whatever balance you have outstanding on 30 May 2010 (for the 1st chart) after all your payments have gone through that we're interested in not the total amount overpaid.

Thats a relief, then i will definately hit the amount needed for this quarter. EDIT - Actually looking at my mortgage spreadsheet my balance wont have gone down by £5000 even though i will have made more than this in payments. I hate interest on mortgages :mad:

Welshlassie

Welcome to our latest recruits:

24 MarieAAp
25 deefadog
26 chirpchirp

Have been really busy over the last few days, so haven't had chance to look at the spreadsheets, Q&A's etc, but will get onto to them next week at some point. If i disappear from the thread for a day or so at a time, don't worry I haven't deserted you, just very busy in work presently so trying to catch up. I am monitoring the forms and my PM's just won't necessarily have time to update things immediately.

hillcats

November for me.
BTW - Excellent work !

I always keep my signature updated with mortgage amounts.

shangaijimmy

Can we join? We are hoping to clear by the time my partner is 40 in Feb 2021 (i'll be 42 and our son will be 12).

Currently got £156k to go!!

miss_corerupted

is it possible to move my date to something like 37?? as i don't think it's going to be a challenge for me, i want a bit of a challenge!!!

pencekeeper

miss_corerupted wrote: »

is it possible to move my date to something like 37?? as i don't think it's going to be a challenge for me, i want a bit of a challenge!!!

OK, maybe pay mine as well? :P

MarieAAP

Blimey, seeing all your targets, makes me feel I shouldn't have joined

Your £5k / quarter, is my whole mortgage

M

MarieAAP

pencekeeper wrote: »

ok, maybe pay mine as well?

hahahahahahahahahaha

pencekeeper

MarieAAP wrote: »

Blimey, seeing all your targets, makes me feel I shouldn't have joined

Your £5k / quarter, is my whole mortgage

M

Doesn't matter. My £23.4K mortgage is much smaller than most others who have signed up. But then it was £127K less than 3 and a half years ago and I've worked hard to get it down.

I'm acutely aware that it's really all about what the money means to you in your circumstances. If you've only got £5K to go and you've got £250K in the bank, then no, you probably shouldn't have joined. But you probably don't £100 is alot of money to someone who can't afford to feed their family - it's all about context.

A year or so ago, I had £45K in savings, but then I had a much bigger mortgage. Now I've got low savings but a low mortgage. Whilst I'm in a job that pays OK, I'm paying off the mortgage quickly. I don't think my circumstances will stay this way though, and I expect my income to fall drastically. Suddenly any remaining on my mortgage will seem large if I don't have the means to sustainably pay off the debt (and I hate debt).

MarieAAP wrote: »

hahahahahahahahahaha

Hey - you have to try don't you