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Want to hear a secret?
twistedhazel
Posts: 217 Forumite
Just wanted to drop in and let you guys in on a secret! I've just increased my monthly mortgage payments by £100 :j According to lovely overpayment calculator this means that we will pay off the mortgage almost 9 years early and will save over £42000 in interest - seriously £42000!! That's motivation right there if you ask me.
Hopefully we'll be able to increase this again in a few months, I don't want to be in a position where it makes us struggle to make ends meet. We're only just out of debt so don't want to overstretch ourselves in the meantime.
Can't tell anyone else about this as they don't get the whole thing at all so thought I'd you all know instead - hope you don't mind.
Hopefully we'll be able to increase this again in a few months, I don't want to be in a position where it makes us struggle to make ends meet. We're only just out of debt so don't want to overstretch ourselves in the meantime.
Can't tell anyone else about this as they don't get the whole thing at all so thought I'd you all know instead - hope you don't mind.
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Comments
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What's the secret then:D Our current mortgage deal term is up Sept and i'd really like to get rid of mortgage asaptwistedhazel wrote: »Just wanted to drop in and let you guys in on a secret! I've just increased my monthly mortgage payments by £100 :j According to lovely overpayment calculator this means that we will pay off the mortgage almost 9 years early and will save over £42000 in interest - seriously £42000!! That's motivation right there if you ask me.
Hopefully we'll be able to increase this again in a few months, I don't want to be in a position where it makes us struggle to make ends meet. We're only just out of debt so don't want to overstretch ourselves in the meantime.
Can't tell anyone else about this as they don't get the whole thing at all so thought I'd you all know instead - hope you don't mind.0 -
Congratulations on reducing your term. Think of all the nice things you can spend the £42K on rather than giving it to you bank:jMortgage Free Date
[STRIKE]Original: Jun 2041[/STRIKE], Current:Nov 2022, Target: Oct 2020
Debts
[STRIKE]2010/02 £14,500[/STRIKE], 2011/02 £13,000, Target 2012/01 £0K
11k in 2011 challenge #32 4.8%0 -
That's the beauty of this forum, making over payments is generally something that's more difficult to discuss with friends as they don't get it and others will think your nuts!
At least on here you can shout it out and realise that like minded people feel the same way and understand your excitement.RosieTiger - Highest £242,000 Feb 2004 :mad:
Lightbulb Dec 2008 £146,000 by March 2026:eek:
MFi3T2 and T3 No 28 - Dec 2009 Start Balance £117,000
Current Position-Fully off set by savings since March 20130
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