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Mortgage free in 5-7 years time hopefully!
LondonGuy25
Posts: 3 Newbie
My wife and I were lucky enough to get on a 0.48% above base rate term tracker a few years back and so are currently overpaying like crazy to get our mortgage down a bit. Initially took out mortgage in May 2006 for £140000 and now in Jan 2011, we have got it down to £99000. In the last 12 months, we've paid off £15k and so hopefully if we continue at that rate, we should be able to rid ourselves of this in 6/7 years time.
We don't have any other debt and would like to get shot of this one ASAP! Interest rates may well go up in the near future too and so we're desperately trying to overpay as much as possible before that happens!
We had a little boy in the last year and so he's going to get increasingly expensive to look after I imagine!
I'll post our progress as we try and stick to the plan!
We don't have any other debt and would like to get shot of this one ASAP! Interest rates may well go up in the near future too and so we're desperately trying to overpay as much as possible before that happens!
We had a little boy in the last year and so he's going to get increasingly expensive to look after I imagine!
I'll post our progress as we try and stick to the plan!
0
Comments
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Yay! Well done. Nice mortgage rate too - wish we had one of those. We're +1.39. But should have the mortgage paid in just over 2 years with massive overpayments.
Good luck!0 -
Oh and congratulations on the baby - they're only as expensive as you make them but my 2 cost me a small fortune and they're still young!0
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