We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Minor setback but still focused !

Options
Hi.

Been hammering away at the mortgage for some time now ..

Thanks to redundancy (and another job! ) got the outstanding amount down to a little over 26k :-)

overpaying by 450 a month so the target was sept (ish) 2010, all was going well when eldest decides he's going to college a year early !! (yikes).

Now got to try and help him with his rent but still determined to beat this thing before 2010 :-)

Had originally planned to buy a 2bed flat for next year so a roomy could help with the flat mortgage but now went from audition to starting the course in 3 days so no option but to rent.

Please excuse my ramblings but needed to give myself something positive for my 100th post :-)

keep smiling people


Adbru

Comments

  • Well done on getting the mortgage amount down AND getting back into work Adbru :T
    :T:j :TMFiT-T2 No.120|Challenge started 12.12.09|MFD 12.12.12 :j:T:j
  • assume you are looking to get a flat for post Christmas, for the new term

    That should be time enough to plan it
  • clarew
    clarew Posts: 505 Forumite
    Part of the Furniture 100 Posts Mortgage-free Glee!
    wow, good for you, £450 a month is quite some overpayment!!
    Mortgage free 04/03/2025. Thanks to this site and lots of overpayments bit by bit.
    Next stop: house repairs, holiday fund, replace our very old cars, more financial security/early retirement savings.🤞
  • Adbru
    Adbru Posts: 80 Forumite
    Thanks for the replies :-)

    At one point we were paying £600/month for the mortgage and as the capital came down we left the payments as they were (hard but worth it !!)

    Redundancy money made a big hole, min payment now 155, still paying 600 !

    I was very lucky in that the redundancy was voluntary and I managed to line up another job with one of my old customers ;-)

    rent for sons flat is 330........ i suppose i could just try and drop my payment to 320 rather than 270......

    Our current contract at work finishes in 4 years so I am determined to beat this thing by then !!

    good luck peeps.

    Adbru
  • Adbru
    Adbru Posts: 80 Forumite
    oops, double post !!

    Re getting a flat after Xmas, he is on a one year course so unless he makes noises about carrying on for the HNC I probably wont bother.....

    Adbru
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.