hi newbie here

jpwhittle

hi im finally pleased to be able to come onto this board. i got my new house as a ftb on friday and pay my first mortgage payment next week. i now have a 105000 morgage over 30 years but im dtermined to pay it of early so i look forward to hearing peoples advice on how to do it and joining in with clearing my mortgage.

just thought id say hi anyway:D

bekkki1

Cant really offer any advice as I am just starting the process of ftb.

I'm hoping to become a MFW quite soon aswell.

Just wanted to say good luck!

clarew

Welcome:j There are lots of us here looking for inspiration to keep plugging away at the mortgages.

Welcome to our merry band. Remember to check out the mortgage pig thread above, for more sources of inspiration, and motivation!

Mushy61

Hi there,

There is a overpayment calculator sticky thread at the top of the page.

Check the amount you save in interest just by overpaying small amounts each month, it certainly gave me the incentive to overpay recently.

I just wish something like that was available when I first took out my motrtgage all those years ago.

still, better late than never and good luck with your quest.

:beer:

David_B_2

jpwhittle wrote:

hi im finally pleased to be able to come onto this board. i got my new house as a ftb on friday and pay my first mortgage payment next week. i now have a 105000 morgage over 30 years but im dtermined to pay it of early so i look forward to hearing peoples advice on how to do it and joining in with clearing my mortgage.

just thought id say hi anyway:D

Welcome aboard and your now like the many others who want rid of the chain around your neck.

What I would say is don't try to do to much to fast. By this I mean wait until you know the how mortgage payments will effect your monthly spending and I would personally highly recommend getting rid of all others debts before attempting the biggy.

Best of luck.

Any questions, put them on here and everyone will try their best to give a honest reply

jpwhittle

thanks all. i have to admit iv borrowed extra to cover the other debts im just waiting for the cheque to clear now so i pay them. i know alot dont agree with doing that but the house is worth alot more than we borrowed so it justified it and meant we got on the property ladder. have a 94000 mortgage and the rest a loan.

Gingham_Ribbon

Well done on starting your mortgage with the goal of paying it off early. You've come to the right place. You should get some good ideas on this board. Check out the debt free wannabe board too.

Good luck in your new home.

Skintymcginty

Hi there, I'm in the process of downsizing in order to clear a chunk of the mortgage off, aiming to be free in 8 yrs.
Good luck and enjoy your FTB!

roswell

First place to start would be take the money you spent on debt payments and chuck it at the mortgage if your allowed :-)

pinkpixie_2

Good luck jpwhittle, you're definitely starting out with the right attitude!!My DF and I are also just starting on the road to clearing a mortgage, ours is £54,000. I'm hoping the sheer joy of watching the amount fall away will spur us all on to be frugal MFWs!!!Pink Pixie

Skintymcginty

I'm reducing mine from £150k to 40! Paying the car off and will be £700 better off a month! Can't wait!