Mortgage free in 10 years

Engeroosi

I will set myself a target, need to do the sums and work out a reasonable one. Also need to work out how I do my signature, so I can see the progress.

Engeroosi

Ok, not had a chance to set myself A target yet but get paid on Monday so might be able to make another overpayment, hope so. Get home on monday evening hopefully so will have more time to assess finances. It sucks working away from home but great when your home and not having to get up nd go to work!!

debtfreewannabe321

Hi Engeroosi, you update your signature by going to the user cp button and pressing the edit signature button...I've just found your diary and want to wish you luck, i often pop over to this board hoping that one day i will be in the situation where i can use all my spare cash on my mortgage and towards being mortgage free -obviously you can see by my sig that i am over on the debt-free board at the mo wanting to get rid of other debts first! But good luck on your journey! I read another diary and it was very inspirational she paid a £1 here and there on the mortgage so i guess any spare cash you have you could save up and do the same....(without wanting to sound like te$co here lol) every little helps !!

Engeroosi

ok overpaid £500 into the mortgage on the flat I rent out. ( Which I can gain access to at any point so using this to build up a buffer)
Overpaid 360 on mortgage on our home, could overpay alot more but want to keep a buffer until the overpayment reserve is enough for a couple months income. Then plan to attack the home mortgage with real meaning. Got 5100 in ISA which is my buffer at the moment so that will be chucked at the mortgage once got 5k in reserve.

Engeroosi

Added signature with targets for the year, is this a reasonable target?

MushyPeas

I'm not an expert on here, but I'd say those are both brilliant targets - well done

ClaireT13

Engeroosi

Just read your diary! We are in very similar situations regarding the amount of mortgage owing and have very similar targets!

I wish you well on your journey and will follow your progress with interest!

Claire

debtfreewannabe321

Well done on setting some targets :T they sound reasonable enough to me, I always find it helps to see them down in black and white so you can see just how close you are to your goals i'll be following with interest

Engeroosi

Thanks all, will aim to use any overtime to meet the targets which should be ok, although just had to fork out for dehumidifier for the tenant in the flat as they are having problems with condensation. I know this is due to them drying clothes indoors and on radiators and not leaving any space behind beds etc for circulation of air but they are good tenants and dont want to annoy them.

Engeroosi

Plans to make extra overpayments this month were ruined due to car insurance being due, carpets for house being more expensive than anticipated, wives passport need renewed, my licence needs renewed and also we have been painting some of the house.

Hoping to be able to make the regualar amounts still and then once next month comes we shall have the funds to overpay more. At least the money is still mainly being spent on the house to make it more homely for us.