Is it the end, or just the beginning.....?

Pippajo

Hypno will have sneaked off and be languishing in a ski chalet somewhere enjoying very early retirement before we know it

hypno06

Afternoon all.....lunch was lovely and made the day go much quicker - always a benefit on a Monday!

Dinner has been devoured and I am about to head out to do some download work.....if I want to get that mortgage cleared and more lovely new shoes I need to do some extra!

Hope you have all had a good day xx

REDMADCURLS

I lay in bed last night and to help me sleep I worked out how long it would take me to clear mortgage. Sadder than sad I know.

I plan to be DF by 45 and MF by 55, (mortgage is £10k less than yours) so I will join you for the last 5 years of your challenge LOL

NFH = great accronym! ?Sp

hypno06

Debt and mortgage free by 55 will be fab for you Red - definitely something to aim for.

Bring it on :T

Pippajo

I know a lot of people (well most of MSE ) read this thread so hope you don't mind a quick hijack!

If you have a bank card registered to your itunes account please log in and change to "none". I had an account that had not been used for about a year - in the early hours last Tuesday someone hacked into it and tried 18 transactions one after the other, the bank managed to stop them but only after 11 had gone through. In terms of fraud its only a small amount at £110 (a lot to me though) but is still hassle to claim back as itunes will not refund me, I've got to go through the bank visa dispute scheme. (It may have also got round verified by visa).

Also a big thank you to Hypno for highlighting the benefits of internet banking - I spotted it and rang the bank - they had already suspended my card but I got onto it quicker than if they had just sent out a warning letter.

hypno06

Thank you for the heads up.....any reminder for us all to be vigilant is invaluable. I hope you can get your money back very soon - £110 is a lot of money to be without.

benbenandme

£16,700 a year is very do-able for you Hypno ... you've been saving £20k per year for the last few Also, you need to look at the calculatoe to see how much of your normal monthly payments are capital repayment, so for example if your mortgage payments are £500 per month, the balance could be £300 capital repayment and £200 interest payment ... this would mean that 12 lots of £300 capital repayments would mean that you've already found £3600 of the £16,700 already They are just completely made up figures, no idea what your mortgage payments are like, but it makes it a lot less daunting that way

Also, once you start overpaying, the amount going on the capital shoots up and the interest bit goes down, so even more of your normal payments are going toward reducing the total :beer: Sorry for probably stating the obvious to you there but I do love a bit of mortgage overpayment talk :rotfl::rotfl:

hypno06

My normal monthly payments are almost £1200 benben - I soooo wish for them to be £500!!

Over the next couple of months I will be able to ascertain what is capital and what is interest, so can do a more accurate calculation but I reckon it is going to be very doable if I make a bit of an effort.

Unless I keep buying LK Bennett footwear, of course!!

Buffythedebtslayer

benbenandme wrote: »

£16,700 a year is very do-able for you Hypno ... you've been saving £20k per year for the last few Also, you need to look at the calculatoe to see how much of your normal monthly payments are capital repayment, so for example if your mortgage payments are £500 per month, the balance could be £300 capital repayment and £200 interest payment ... this would mean that 12 lots of £300 capital repayments would mean that you've already found £3600 of the £16,700 already They are just completely made up figures, no idea what your mortgage payments are like, but it makes it a lot less daunting that way

Also, once you start overpaying, the amount going on the capital shoots up and the interest bit goes down, so even more of your normal payments are going toward reducing the total :beer: Sorry for probably stating the obvious to you there but I do love a bit of mortgage overpayment talk :rotfl::rotfl:

Benben the expert :T

I was trying to work how much I could save for deposit once I am debt free and then day dreaming about paying off a mortgage, its something that seems so impossible but I believed I would always be in debt until I got here and that will be gone in a few months so why not mortgage free too?

Bring it on as Hypno would say!

xxxx

benbenandme

If you like you can tell me the term of your mortgage and your interest rate and I can tell you the interest/capital ratio ... sorry, you've got me started now