D'oh! Better get started... I wanna be Mortgage Free!!

wynnvegas

Hi Froggy,

Welcome aboard the mortgage freedom express! I'll add to the addictiveness warnings you've already received. It sounds like you've got a great handle on how you're planning to move forward. When we looked seriously at getting to the mortgage free end point, I found it really useful to do an SOA (as found on the debt free wannabe board) to work out to the penny where our money was going and how much spare we had. From an estimated notion of being mortgage free in July 2011, the science of the SOA has helped us bring it down to November 2010.

Best of luck.

Cheers,

Billy

Froggy-G

LilacPixie wrote: »

Welcome Froggy.

I am not familiar with the workings of product you have but I have heard of it. My understanding is the loan part is at a preferential interest rate but not as low as the mortgage part.

Do you pay yur council tax over 10 months?? If so remember and pay the feb and march payments to your mortgage instead. I did this earlier this year and it was an easy way to overpay without noticing it.

Hi Lilac

Thanks for stopping by :j
We do pay our council tax over 10 months (£125 per month) and we already have a reminder to move those CT months holidays to our mortgage... Every little helps

Froggy G :rotfl:

Froggy-G

wynnvegas wrote: »

Hi Froggy,

Welcome aboard the mortgage freedom express! I'll add to the addictiveness warnings you've already received. It sounds like you've got a great handle on how you're planning to move forward. When we looked seriously at getting to the mortgage free end point, I found it really useful to do an SOA (as found on the debt free wannabe board) to work out to the penny where our money was going and how much spare we had. From an estimated notion of being mortgage free in July 2011, the science of the SOA has helped us bring it down to November 2010.

Best of luck.

Cheers,

Billy

Hi Billy!:j

What an inspiration you are!! You are only a few weeks away from being mortgage free... It must be a very exciting time for you & your family!:beer:
We have a very tight budget (silmilar to the SOA you mentionned) and we review it regularly to make sure we are on the best deals possible..

I don't yet have a Mortgage Free date in mind, but the sooner, the better... We are likely to move before we pay off the mortgage, so the challenge is to pay as much off the mortgage as possible to create the biggest deposit possible fro our next house...

Thanks
Froggy-G:rotfl:

*Jellie*

Hi Froggy.
I'm just starting as a MFW and I've really been inspired by your thread. I've just finished as a DFW and it's just hit me that I need to take a similar approach as a Mfw. I look forward to seeing your progress.

Froggy-G

*Jellie* wrote: »

Hi Froggy.
I'm just starting as a MFW and I've really been inspired by your thread. I've just finished as a DFW and it's just hit me that I need to take a similar approach as a Mfw. I look forward to seeing your progress.

Hi Jellie :j

I remember you from the DFW board! Well done & congrats on becoming debt free...:beer:
Have you started a MFW diary? I would strongly encourage you, and I will of course suscribe!!!

I am very glad I could inspire you! Please pop over anytime, and hopefully become Mortgage Free together!

Froggy G

*Jellie*

Froggy-G wrote: »

Hi Jellie :j

I remember you from the DFW board! Well done & congrats on becoming debt free...:beer:
Have you started a MFW diary? I would strongly encourage you, and I will of course suscribe!!!

I am very glad I could inspire you! Please pop over anytime, and hopefully become Mortgage Free together!

Froggy G

Morning Froggy. At the moment I still have a diary on Dfw. I was going to start a new one but it will feel weird leaving Dfw diary land so I haven't yet!

Froggy-G

*Jellie* wrote: »

Morning Froggy. At the moment I still have a diary on Dfw. I was going to start a new one but it will feel weird leaving Dfw diary land so I haven't yet!

Morning Jellie! :j

I can understand how weird it must feel, but it's a natural progression.. The people that were following you on the DFW board will follow you to the MFW board, don't worry!

How do you intend to tackle your mortgage, what is the size of your mortgage?

Have a great day!
Froggy G :rotfl:

wynnvegas

*Jellie* wrote: »

Morning Froggy. At the moment I still have a diary on Dfw. I was going to start a new one but it will feel weird leaving Dfw diary land so I haven't yet!

Hi Jellie,

I'd second Froggy G's suggestion. Closing off your debt free wannabe diary is a great idea as it properly marks the end of that chapter in your life. Not only will your DFW followers continue to mark your progress, you'll also gain a new band of helpful (hopefully) and dedicated (definitely) fans to boot. I wish I had properly maintained my MFW diary as shutting it down would be a brilliant feeling. Absolutely no need to leave the DFW board though as your experience and suggestions now need to be passed on to others who can make use of them. I hope to sit for many years to come imparting what I believe to be my wisdom on the MFW board!

Cheers,

Billy

*Jellie*

I hope so. I feel a bit misplaced at the moment. On the DFW board I don't feel right posting as much when I'm now in a better place financially and so many people I chat to over there are really struggling. Then again I miss the community feeling as I'm not posting so much.
However, you have inspired me to action and I can feel a Mfw diary coming!

Our mortgage is now at £291 584 and we have almost £23 000 in the offset account. It was more but we've just splashed out on a car which we hope will see us through until we are mortgage free. We want to keep at least 20 000 in there just in case one of us loses a job or anything. We're aiming to do it in 10 years so I'm going to plump for 2020 to get it clear.

Billy- thanks for your wise words. Time for me to move on and refocus I think!

Froggy-G

Evening all ! :j

Just got back from work in sunny (not) Manchester!

Following a succesful PPI reclaim from Barclays this year (£3900), I have decided to challenge the banding of my council tax after receiving the MSE email today :beer:
We are currently on a band C, but I think we should be on a Band B, as quite a few houses in our close are band B! (similar houses to us, built in the same year)
Just a quick call to the VOA office and they logged my challenge and will acknowledge it in a couple of days by letter, and they should have a final answer in the next 6 weeks! Hopefully they will rule in our favour and we will get a refund of the overpayments we have made over the last 4 years, as well as a saving for future payments! Wait & see as they say, I will update this thread to let you know how it goes..

Only another 9 sleeps till our holiday in Cornwall! I can't wait, I could really do with the break away from the stress of work (so does OH )

Hope all is well with you all?

Froggy-G:rotfl: