Sunnydays tiny steps

SmlSave

Well done!!!!!!!!!!!!!!!!!!!!:D

mummyofonechild

Well Done. Not long to go now :T

gallygirl

Well done

newgirly

Wow, well done, I wish I had your mortgage balance! keep up the good work, you will be rid of it in no time.
Have you any ideas what you will do with the extra cash when you no longer have a mortgage?

Sunnyday

Thanks guys

I worked out that if we can keep the payments up then we could in theory be MF sometime in 2013, fingers crossed.

There is an awful lot of work that needs to be done on the house but *touches wood* nothing urgent so far.

Once the mortgage has gone then we will be saving for the work that needs doing. First thing will probably be a new roof, followed by new central heating, followed by............... you get the idea?

So far everything has lasted and still does the job but some things are so ancient that i do worry that we will get scuppered one way or another. I just put it all to the back of my mind and get on with it.

The house is actually leasehold so it would be good to look at buying the freehold in a few years time too. Now wheres that lottery ticket

SD

pammyj74

huge good luck for becoming MF in a couple of years. Cant wait til we are at the final few hurdles.
x

Sunnyday

Just settled down with a cuppa and had a nosy at my spreadsheet

I`m going to keep doing this at it will keep me motivated, i find that if i don`t have a peek at how everyone is doing every few days then my enthusiasm wanes a little bit.

Julys payment has been made and here`s what i have so far

Normal payment £168.83
Overpayment this month £431.17
Total payment £600
Std payment minus interest £574.42
Daily interest 0.82
Monthly interest £25.57
Total balance now owed £19,499.57 :j

Woohoo!!! finally below the twenties and into the nineteens :j:j
I`m not sure exactly how long i can keep up these type of overpayments as our income fluctuates quite a bit and will drop as soon as any overtime ceases which we are expecting in the next couple of months - but for as long as possible i`m going to aim for a £600 payment each month.

If we managed it and the interest rates stay the same *crosses fingers* then we could arrive at that magical MF date in May 2013

In an ideal world i would really like that to be January, reason being our very first mortgage would have been paid off in February 2013 if it had run for the full 25 years so i`d really like to beat that if possible.

Looking at all the figures has really cheered me up

SD

newgirly

Wow, well done sunnyday, thats a big OP :beer:

setmefree2

Sunnyday wrote: »

Woohoo!!! finally below the twenties and into the nineteens :j:j

Great Milestone :T

greent

just caught up on your thread - well done!! must feel fabulous to be below 20k!