Counting down to mortgage free, dont know when but I do know how.

ButterflyBee

I am so pleased that my mortgage is below the £188 mark as of today. I have just called and the new balance is $187,994.36. It is a lot I know but not so long ago and my mortgage was over £190k. That did feel like a mountain I could never ever climb.

Little by little I'll get there!!!:T

beth111

Hi Butterflybee, wanted to pop over and say Hi:wave: and good luck. I have high mortgage also so we may be here together for a little while yet

ButterflyBee

That is very kind of you and I think we will have many fun, full posts in the next few years.

I have been rather concerned over the last few months about being a mortgage prisioner but then again, one never knows what the future holds.

We will defniatley keep in touch.
Thank you

ButterflyBee

Just little update on the mortgage balance.
standing now at £186,385.79.
Not down much but hopefully in 1more year it will be down another £1500.00 and below £185k.

Mortgage_Reduction_Novice

ButterflyBee wrote: »

Just little update on the mortgage balance.
standing now at £186,385.79.
Not down much but hopefully in 1more year it will be down another £1500.00 and below £185k.

It always goes slowly at first but when you look back over a whole year or more progress seems larger. Also, the longer you work at it, it seems to pick up the pace!

Congrats on getting below £187k.

ButterflyBee

Just little update on the mortgage balance.
standing now at £186,061.25 on year on from £187,994.36
Not a drastic drop which is unfair as not saved much on interest charges with the small overpayment of £150.00 a month.
However, as I know i'll spend it if I dont put it on the mortgage it's the best of a bad situation.:mad:

ButterflyBee

This will be a tough year as I need to settle my credit card debt that has been building up over the last 2 years so I thought I'd start off with a positive note.
Mortgage has been brought down to the new total of £185,584.00 :T

Now let the yew year bring new goals to be realised.

ButterflyBee

This mortgage is really bothering me and today I had a call with Mortgage Express and actually received some interesting advice.

They are going to send me a quote to change my mortgage type from interest only (FOC) to a repayment option but this means that currently my payments would be £1228.22 at 4.84% which is their current variable and I would then end the mortgage at the end of the term by my 65th birthday.

So, I must clear all the Cr.card debt. Get rid of the other unnecessary expenses and then sign over my mortgage ASAP!

alwaystryyourbest

Hi just been reading your thread well done on all your overpayments, You sound like you rearly want to pay your mortgage off. just a quick idea in case you haven't thought about it. what about selling and buying some where smaller and cheaper... mortgage would go down that way...

ButterflyBee

I'll never be able to sell as I'll never be able to get a mortgage again, well not with my salary and nil savings. I was fortunate at the time when sub prime mortgages were available and I know I just have to bite the bullet until luck lands at my door.

As soon as I have cleared my current debt a visit to a mortgage consultant with my quote may open new avenues.