2011 diary - MFW - Can't quite believe it!

pawlala

Look on the bright side, I bet not all their owner's/prospective owners know about overpaying. You know a little secret that they don't and it will save you 000's over the course of mortgage terms. Now who's sitting pretty?

Caroline73_2

Thanks pawlala!

I know you are right and I am really lucky not to be struggling to pay my mortgage when so many people are. I'm also lucky that there is nothing wrong with house, the area or anything else. It's just a bit small for us, but that's hardly end of the world.

Caroline73_2

It's amazing how things can turn around.

I have spoken to some local estate agents and they all think I can actually get more for our house than I thought last week. I went to the estate agents and got details of some houses like ours. The ones I've seen priced much lower have reasons for being low priced. It looks like we could market £5-10k above what we owe on the mortgage.

Due to hubbies bonus we have managed a fab overpayment this month of £2574.27 as well as my regular OP of £21.84. This has shaved another 9 months of the end of my mortgage. Thats 31 months in total. :T:T

We went to see the bank on Saturday too and they have told us we score really highly on their system so they will actually lend us a lot more than we wanted so we just need to save up a bit for the rest of the money we need for the 10%. We have to stay with our current bank as we are tied in to the mortgage unless we pay a large early redemption fee, which we just don't have. They will port the current mortgage free of charge to the new property though.

It's such a relief! We hope to put the house on the market in April as I have to finish of the jobs around the house, and we should have saved a fair bit by then.

pammyj74

wow to the OP :eek: thats fab! Bet you wish you could do that every month!

As for the size of the house, I definitely know what you mean about size! (being a few streets away in probably the same style house) I wish my DD could have a bigger bedroom. But I think that there is only prob another 8 years before she might move out or go uni etc so I might just get the mortgage paid off before that.
Good news about the value and at least your LTV will be better considering your OPs.

Caroline73_2

My mortgage is now official under £100K!

YAY!

so excited I'm posting via my phone so I can't do jumping in the air smilies.

wantabetterlife

Caroline73 wrote: »

My mortgage is now official under £100K!

YAY!

so excited I'm posting via my phone so I can't do jumping in the air smilies.

I will do them for you caroline :j:j:j:j:j
Fantastic news and well done, i cant wait till we get below 100k, will probably be at least 5 years though.

cha97michelle

That is excellent news Caroline. What a great month for you. :money:

yukkibear

well done on reaching a milestone, it feels so good doesn't it.

gallygirl

Yay to 5 figure mortgages :T:T:T:T:T

museumworker

:j :j great news on the OP and the house valuation :j :j

Glad to hear you're enjoying the new job. Sadly I'm with WABL - even if I go hell for leather with the OP's will be at least 5 years until get into 5 figure mortgage... but I am going to seriously celebrate when I get there .