Sarah's morgage free diary.

sarah111_2

Hi money savers,

I have been a fan of this site for many years but never thought about coming hear.
A little about me, i'm 28 And have 2 pre school age children. I had a My first morgage at the grand old age of 21, we had that at intrest only for 2 years. Looking back it was a risk but it ws a risk that paid of for us. Our current home is repayment with 27years left, owing £161.000.

I would love to take atleast 7 years off the liftime of the morgage to make up for the 2 years at intrest free and the five years from doing it over 30 years instead of the normal 25 years.

Goals.
1.Sell both cars then buy one that doesn't cost the earth to run then hope to pay the rest of the morgage.

2. Go through the house and sell, sell and sell.

3. Find extra ways to earn money.

4. Get on top of my business as it I don't earn we have no hope.


Anyway that's me, I am really looking forward to getting stuck in. We by no means earn very much but i'm one determind lady.


Sarah xx

originalmiscellany

Good on you!
General comments:
Give us your interest rate and length of current mortgage please!
A SOA
http://www.makesenseofcards.com/soacalc.html
will be a great place to start to check that you're in a position to minimise costs, and maximise savings.

Looking forward to seeing you getting on and eating into your mortgage!

sarah111_2

Thank you, I will take a look.

We are currently with nationwide on the svr of 2.5%. I don't think we have a hope in hell to remorgage with another bank as our wadge has droped by half.

I should also say we have £6,000 on the credit cards, so that will hamper our mfw dreams, but if you never try you will never get.

museumworker

Hi and welcome .

What interest rates are your CCs? If more than 2.5% you would be better paying these off than tackling your mortgage first.

Good luck with your journey.