saving £100,000 ten years to utopia !!

streethack

Thanks guys this felt like a biggie getting under the £100K barrier. Smashing through this felt good like breaking down an invisible wall. Dont know why but every overpayment now feels a little bit sweeter.

Just receieved my seven year badge so celebrating with a £400 overpayment. leaving the outstanding mortgage at 98,952.

Still up in the air with my wifes redundancy but should find out this month. May require a whole new plan of action, we will see.

streethack

Little overpayment of £206 just now on the mortgage leaving the outstanding mortgage at 98,746.

Wife got the news that she is being made redundant so all these figures become all the more important. Thanks to discovering MSE and mortgage free wannabe this is isnt the killer blow as it could of been having already paid around £35,000 of my mortgage and having lump sum savings myself for the mortgage this means we should be ok on my wage. So a big thank you to all the people on here who post up there diaries and changing the mind set that a mortgage is for life.

New plan to follow once we have her offer. Exciting.

Moneyfordreams

And thank you to you for your diary.

well done at being sub £99k

Good luck with your new plans

Kittenkirst

Sorry to hear about your wife's redundancy, however like you've said you are in a much better position to deal with this together having been MsE and having the financial focus. Hope the road ahead for her job-wise runs smoothly

streethack

The redundancy came at a good time for us as my wife is on paternity so has worked out pretty well as we couldnt see how she could go back to work with 4 little ones.

Everything is signed now but she wont get the payout until December. Ive decided to take the plunge and whack my lump sum savings onto the mortgage, a total of £21,500 whacked day should of been £23,000 but currently using a £1,500 float for match betting.

Was a bit nervous transferring that amount of money from different accounts and then on to my mortgage all over my mobile phone. Just got off the phone to first direct who have confirmed the mortgage now sits at £76,888. Another lump sum to go down just before Christmas and a new plan awaits.

Watch this space.

streethack

Another overpayment this month of £606 leaving the outstanding mortgage at £76,282. Still trying the get the mortgage down before my wifes redundancy comes through so we can have the payments as low as possible now we will be on one wage.

Current share holdings are £21,376.

Kittenkirst

Great progress streethack, so inspiring to see!

streethack

Thanks Kittenkirst great to know your enjoying my ramblings I find other peoples dairies a real inspiration.

Im laid up on the sofa with the lurgies right now so though I would give an update while sneezing every where. My wife got her redundency through finally so have now whacked £23,000 onto the mortgage. the current outstanding is £52,928. quite the difference from the £158,000 I started with in 2011. Doesent seem that long ago.

A new plan is needed now we are down to one wage but I am still determined to reach my target of paying of the mortgage 2021. Need to sit down for abit and work everything out.

Merry Christmas to all the money saving experts here.

Kittenkirst

Hope you had a very lovely Christmas StreetHack