saving £100,000 ten years to utopia !!

streethack

Nearly Crimbo holy moly!

Another overpayment of £400 this month leaving the outstanding balance of £120,814.

Shares picking up a little now share holdings are currently £14,931

whats scary is that if I hadnt made any overpayments I would of paid less than £15,000 of the capital!!

streethack

Hope everyone here had a great Christmas. Three Christmas dinners later and an excessive amount of mince pies its time for the end of the year update with the last of 2014s overpayment of £400. Which leaves an outstanding balance of £119,980

More importantly it means I have reached my end of year target of £6000s worth of overpayments for 2014.

Shares have had a little bump over the Crimbo period leaving current holdings of £15,704. Onward and upward to 2015 to creeping closer to mortgage freedom and releasing the shakles.

streethack

Belated happy New Year all you money savers. After reaching my target of £6,000 overpayments in 2014 its time to enter this year target of £6,000s worth of mortgage overpayments. Kick starting things with an overpayment of £400. Which leaves the out standing mortgage of £119,131

Have been able to up my company shares by £200 a year so ive also jumped on that. Current holdings are £15,869.

Good luck all yer merry money savers for 2015! lets make some bankers very unhappy.

streethack

Well its half past one in the morning and two of my childern are sleeping in my bed and dont want to move so im here on the sofa. What better time to make an overpayment

Slammed down £400 big ones on the mortgage just now leaving an outstanding mortgage of £118,292. Taking me one step closer to my four year target of [FONT=&quot]115,806 but seems a little way off cons[FONT=&quot]idering as there is only two months [FONT=&quot]left[FONT=&quot]. [/FONT][/FONT][/FONT]
[/FONT]

streethack

Update on the current share holdings, currently £16274.

streethack

Got back from Thomas Land so im pretty Thomased out and my wallets alot lighter. Just made this months overpayment of £400 smackers. This leaves the outstanding mortgage at £117,450

streethack

Current share holdings are £16,360

streethack

Well im pretty wound up right now my Santander ISA has matured giving a measly £149 interest for the year leaving the new total at £11,399. I have opened two First Direct regular savers paying 6% each which I will drip feed money into over the year.

I transfered £7200 out of my ISA for drip feeding purposes and then spent about 20 minutes on the phone to Santander to upgrade my current ISA to there two year fixed 1.5% so what I have left in there at least wont sit at 0.0000001%. After 15 minutes of him trying to sell me the 123 account we finally spend five minutes setting up the new upgrade. Then he tells me it wont let me do it and I have to go to the branch. No other explaination given?

I try to log into my account and it says I have been blocked. Another 15 minutes on the phone im told its because I have transfered a large sum of money. I wont be able to access my accounts and the money is on hold until this gets resolved.

I know people will say its good that they do this tye of thing as it protects you but what is the point of all the security. I mean I had to enter a pin sent to my mobile via text just to transfere my money and I still get blocked.

All the numbers you have to call are 0845 thank God for the WEQ4U app on the iphone otherwise it would of cost me a fortune. Rant over!

streethack

Ok so finally off the phone to Santander. Heres the plan. £7200 to be drip fed into two First Direct regular savers over the course of a year each paying 6%. Remaining £4,199 in two year Sanatander fixed rate ISA at 1.5% (dismal I know)

All I need now is to open a new Instant cash ISA and put the £7,200 to collect a little interest rather than nothing.

Oh for the days in 2013 when I was getting 4.1% ISA from Santander. Feels like alot of messing around for not great gains.

streethack

Well here we are at the end of year four of the ten year plan of paying of my mortgage. Have made an overpayment of £400 this month and the guy at FD have given me an outstanding balance of £116,104. So I guess this is a good time to recap on progress and see where im at. Here is the overpayment caculation that this plan is built on.

· [FONT=&quot]0[/FONT]
[FONT=&quot]158,000[/FONT]
· [FONT=&quot]1[/FONT]
[FONT=&quot]148,058[/FONT]
· [FONT=&quot]2[/FONT]
[FONT=&quot]137,722[/FONT]
· [FONT=&quot]3[/FONT]
[FONT=&quot]126,976[/FONT]
· [FONT=&quot]4[/FONT]
[FONT=&quot]115,806[/FONT]
· [FONT=&quot]5[/FONT]
[FONT=&quot]104,192[/FONT]
· [FONT=&quot]6[/FONT]
[FONT=&quot]92,119[/FONT]
· [FONT=&quot]7[/FONT]
[FONT=&quot]79,568[/FONT]
· [FONT=&quot]8[/FONT]
[FONT=&quot]66,520[/FONT]
· [FONT=&quot]9[/FONT]
[FONT=&quot]52,955[/FONT]
· [FONT=&quot]10[/FONT]
[FONT=&quot]38,853[/FONT]

So far so good im on track by the end of year four which is now the outstanding balance should be £115,806 so im pretty much there .

By the end of the year ten the outstanding balance on the mortgage will be £38,853 so phase two of the plan includes shares and additional savings. My ISA savings are currently £11,399 assuming I can get 2% per year I should end up with £12,837

My shares are currently £17,464 assuming the share price stays the same in six years time the value will be £35,170 minus any dividens.

So adding the ISA and shares together gives a value of £48,007 and minusing the outstanding mortgage this will leave a surplus of £9,157. Well thats the plan anyway