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First venture into MFW...

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Comments

  • Saver-Rob
    Saver-Rob Posts: 570 Forumite
    Mortgage-free Glee!
    Still maintaining the overpayment of £500/month thanks to the overtime though still never know when all that is going to stop.
  • misscousinitt
    misscousinitt Posts: 3,655 Forumite
    Tenth Anniversary 1,000 Posts Mortgage-free Glee!
    Hi Rob

    Just read your diary and I commend you on what you have achieved so far.

    Keep up the good work.
    Mortgage Free x 1 03.11.2012 - House rented out Feb 2016
    Mortgage No 2: £82, 595.61 (31.08.2019)
    OP's to Date £8500

    Renovation Fund:£511.39;
    Nectar Points Balance: approx £30 (31.08.2019)
  • Saver-Rob
    Saver-Rob Posts: 570 Forumite
    Mortgage-free Glee!
    Quick update, we have now overpaid £10,500 off of the mortgage. We have a predicted balance of £74,000 at the end of our 5 year fixed rate period if we continue to overpay £500/month.

    We are currently saving up with the intention of paying off the balance at the end of our fixed rate period, therefore paying off the whole £110,000 within 5 years.
  • Paid a total of £12,000 overpayment now so on track to have a balance of £74,000 at the end of the 5 year fixed rate with the intention of saving up that amount and paying it off in 2 years this month!!!!!!!!!
  • I can finally say that next year should be the mortgage free year!

    I just need to save £1000 a month until next September then the mortgage is gone, 5 years from the day we took it out!
  • elantan
    elantan Posts: 21,022 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Well done that is some achievement
  • Saver-Rob
    Saver-Rob Posts: 570 Forumite
    Mortgage-free Glee!
    18 months to go and still pressing ahead. But I am now focusing on treating myself to something when it is all over and the mortgage is GONE.
  • elantan
    elantan Posts: 21,022 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    What do you have in mind ??
  • Saver-Rob
    Saver-Rob Posts: 570 Forumite
    Mortgage-free Glee!
    About the biggest greenhouse that I can fit into my 'mans bit' of the garden!
  • elantan
    elantan Posts: 21,022 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    I have a polytunnel myself ... Have to admit I love it :)
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