Hello everyone, please help AuntieMabel on her mortgage free mission!

cha97michelle

That is brilliant news. We did similar 2 summers ago - £17,000 in our case. That is what enabled me to pack in work and stay at home with the kids as suddenly everything was affordable again. I remember that feeling.


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AuntieMabel

I'm really pleased that we've made the decision and gone for it and paid off a chunk. I found it quite hard to do though as it took a fair while to build up the £11300 and mere moments to 'spend' it! I know it's not really a 'spend' but paying back a debt but you know what I mean.
I'm just not used to paying that much money using my debit card over the phone!!

cha97michelle

We were the same, but realistically, we are happier now, and its not like we can't get it back if we needed to as we have an overpayment reserve on our mortgage we can claim back.

We'll build up savings again at some point.

sarahevie

We had the lightbulb moment last November when our 3rd annual mortgage statement came through the door and I realised that out of £850 a month payments only £150 was going off the capital.

Instantly we flung £14310 at the mortgage (the maximum we could overpay) knocked 6 years off the term so definitely worth it.

SmlSave

Just caught up with your diary and wanted to say 'Hi' Auntie

newgirly

Brilliant op, AM how exciting!

AuntieMabel

SmlSave wrote: »

Just caught up with your diary and wanted to say 'Hi' Auntie

Hi SMl - I must confess I haven't read ALL of your epic diary, but I think you're doing a fantastic job sticking at it all this time

Thanks to all of you for saying hello and offering your support. I'm addicted after just a few days

kingster2069

Just wanted to wish you good luck on your journey, already taking a big chunk out will really help. WARNING this is addictive :rotfl:
I was only on the MFW for a few months before I cashed in all my ISA's

julliff

Hello AM,

Have just read your diary and I am impressed with how you have flung yourself into MFW with such gusto.

So far I haven't been brave enough to cah in my ISAs, but then it is only just over a year ago that my savings got halve (long story).

Good luck on your journey, I will be following your thread with interest!

Have a good evening

Radish72

AuntieMabel wrote: »

EEK, I meant £11300 (got a bit carried away with my 000s!!

I read that and thought Wow, what a huge amount to OP

I keep dithering about taking some money out of my ISA (in my head this is my security blanket) and paying it off the mortgage

Wonders off to dither some more