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Originalmiscellany's MF dreams
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And the ever reliable Daily Mail is telling us how overpaying a mortgage is really good for our children when we die!
http://www.dailymail.co.uk/money/mortgageshome/article-2429967/Paying-lifetime-mortgage-save-50-000-inheritance.htmlFeb 2012 - onwards MF achieved
September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
April 2018 down to 28.00 months vs 30.04 months at normal payment.
Predicted mortgage clearing 03/2047 - now looking at 02/2045
Aims: 1) To pay off mortgage within 20 years - 20370 -
So another update 2 weeks on, all I have done is cut my phone contract to a sim only deal which is saving me a fortune; and have painted the house! Getting ready for the inevitable winter onset.
Other than that, it's just a case of saving, plodding on towards utopia! Unsure what utopia is going to be!Feb 2012 - onwards MF achieved
September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
April 2018 down to 28.00 months vs 30.04 months at normal payment.
Predicted mortgage clearing 03/2047 - now looking at 02/2045
Aims: 1) To pay off mortgage within 20 years - 20370 -
So, another week - another week nearer Christmas, but more pressingly half term. Had an annoying day;
OH house insurance on BTL (building only) was with a reputable company but... it was due renewal so I went to a broker who offered a cost at a 1/3 of the quoted price, which I have used for the past few years, assuming it was a good deal as the monthly cost never went higher over the past few years.
So good news, I'm going to change and save a fortune on buildings insurance but the bad news is that I've been over paying for years and years!Feb 2012 - onwards MF achieved
September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
April 2018 down to 28.00 months vs 30.04 months at normal payment.
Predicted mortgage clearing 03/2047 - now looking at 02/2045
Aims: 1) To pay off mortgage within 20 years - 20370 -
Half term already?0
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sorry, to clarify half term is still a few weeks away, but pressing into the half term finish line, which in turn is over half way to Christmas. Confusion over I hope
Feb 2012 - onwards MF achieved
September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
April 2018 down to 28.00 months vs 30.04 months at normal payment.
Predicted mortgage clearing 03/2047 - now looking at 02/2045
Aims: 1) To pay off mortgage within 20 years - 20370 -
Well, almost half term; have raided the wife's savings to boost zopa savings as they were sitting making almost no different in terms of interest gained. I think she got something like 21p in her account (several k) last year
That's not money saving smart is it.Feb 2012 - onwards MF achieved
September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
April 2018 down to 28.00 months vs 30.04 months at normal payment.
Predicted mortgage clearing 03/2047 - now looking at 02/2045
Aims: 1) To pay off mortgage within 20 years - 20370 -
Another month on and starting to turn to Christmas; 5 weeks of school (4weeks 4 days) to go, loads to do. We're thinking of all the things we need to do especially getting a new car. So it's been reviewing a lot of car websites and hoping we find a good deal. Fortunately the bank of parents will lend us a bit to get a good second hand car which is great. However, it is annoying to go against the grain of normally saving, to suddenly spend several k on a car!Feb 2012 - onwards MF achieved
September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
April 2018 down to 28.00 months vs 30.04 months at normal payment.
Predicted mortgage clearing 03/2047 - now looking at 02/2045
Aims: 1) To pay off mortgage within 20 years - 20370 -
So no post for several months!
Not a lot to report...
Savings up to £232 with Zopa.
Oh another child has joined our family recently, very exciting.
Long term thoughts: Save hard, move house to a "final family home". Just not enough hours in the day and pounds in my salary...Feb 2012 - onwards MF achieved
September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
April 2018 down to 28.00 months vs 30.04 months at normal payment.
Predicted mortgage clearing 03/2047 - now looking at 02/2045
Aims: 1) To pay off mortgage within 20 years - 20370 -
Congratulations!0
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Congratulations . You're doing all the right things to achieve your long term thoughts though. I keep getting excited that my regular monthly overpayment takes about 3 months off the mortgage end date, then remember it's still along way off. However I know if I wasn't overpaying it would be even further off.
Enjoy your new little one and good luck with those savings.Initial Mortgage January 2024 - £160,000
Initial Mortgage free date - January 2058
Mortgage as of 1st February 2024 - £159,134.98
Overpayments to date - £79.62
Current Mortgage free date - January 20580
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