can't wait till im free

kymrob

been reading this forum for number of years which i came across accidently and from that day decided to look into our morg to see if we could afford to give it ago!

been living in our 3 bed house for 6 and a half years, first couple years spend bit money doing it up new windows, heating, kitchen, bathroom ect small fortune but this house we will stay in and hopefully not move(dont wonna go through that again) so worth all blood sweat tears worth it!

our morg was £28000, 35 year term when we brought it 6 years ago with 5 year fixed rate. about four years ago after finding this site decided to overpay £25 a month soon after doubled it!
then found we could also pay an 10% yearly overpayment which we do and jan last year upped the monthly overpayments to £100
as the 10% overpayment get smaller in amount we will up the monthly overpayments well thats the plan!

i have worked out our "plan" which make us mf in 3 years time if we continue written down all calculatons including interest we save which is huge encouragement when it is written in black and white and so far it all going to plan

plus to date we now have the term of ten years (thats if we stop overpaying altogether), and owe around £18000 now so if things do go wrong eg. jobs we still over the worst and light at the end of the tunnel yippee

so by just accidently clicking wrong heading and by being curious about what was going on here you inspired me and within 6 years i love to think all the interest i have saved and the years of my morg just can't wait to be free
massive thank u

SeriouslySeekingtoSave

A mortgage of £28,000? OMG I am SO living in the wrong area!!! (cries into her hankie)

Welcome aboard!

katsu

SeriouslySeekingtoSave wrote: »

A mortgage of £28,000? OMG I am SO living in the wrong area!!! (cries into her hankie)

me too - I added an extra 0 to the end when I read it (and the 18k remaining mortgage). I only realised my mistake when I read your post :rotfl:

kymrob

ha ha it still seems alot to us!
our house is worth around £135 to £140000 just a modest home but we love it!
we sold our old home at the right time six years ago before the dip! just want to be mf before im 40 and i will be happy :T
we are currently just nearly two years into our new 5 year fixed rate by the time thats up we shouldnt have much left at all! ha

we also our savers we already have the next two years of 10% payments saved so we know IF nothing goes wrong we hopfully can keep doing this plan we nearly they its just a waiting game now!

also we have got saving put away for the BIG day so once its paid we will be either going on a lovely holiday or get new car. we have been putting just £5 aweek into an account for last 8-10 years for this reason thinking it would b years before we use it !