Ramjet's Mortgage Free Diary

roger_ramjet

getmore4less wrote: »

£130 comms and TV (sky, BB, mobiles)


Should be able to make a dent in this if you break it down.

Cashhback mobiles and basic packages would be under £50
add on some extras that you actualy watch.

Sky cancelled - that brings it down to £85 pm. I will add this extra £45 to the mortgage overpayment in due course - but want to boost my cash reserve first.

dimbo61

Be carefull you dont get hit with ERC if you overpay too much in one month/year and you need to ensure that the last payment is made after the fix ends.
Some lenders allow OP,s of £500 a month even when on a fix ( Nationwide) so long as you leave a small amount on the mortgage balance.
Build up savings in cash ISA,s as emergency funds and long term savings

roger_ramjet

Just checked an OP calculator - 72 more payments provided I can maintain a £500 per month OP rate.

My provider allows £1000 pm over-payments.

6 years and counting! wo-ho!

Lots of music magpie parcels being sent off this week - a total of £100 head my way to speed up the mortgage free process!

hastie

Hey good luck with your journey.

For me, its all of my eggs in one basket, and that's property!

Great feeling knocking down that mortgage.:)

de1amo

İ am shocked at the high rate of interest you are being charged on your fixed deal! have you tried challenging or threatening to move lenders etc--your salary is high enough to get the best deal on the market. My mortgage is 55k interest only and the interest repayment is 92 quid--2pc on a svr. İf you lowered your rate to just the bank's svr you would be saving a small fortune!