The £100,000+ Mortgage Club

Tony_R

mel19632 wrote: »

Do we update on here any overpayments?

Mel x

Yes, if you like.

I do have another thread just about my overpayments, but its probably best just to have one with everyone with £100,000+ mortgages in the same boat.

clearing_out_my_pockets

I'd like to join you if you don't mind - we're certainly in for the long haul here!

Original mortgage amount: £158,351
Current outstanding balance: £151,868.63

Paid to date: £6,482.37 (was more, but we've added the fee for the new product to the mortgage)

Hurdler

Now I am up and running officially:
User Name : Hurdler
Original Mortgage Amount : £194,965
Outstanding Balance : £133,263.26
Thread : https://forums.moneysavingexpert.com/discussion/3357492

Peonie

Do we have a party every time someone goes sub £100K?

Hurdler

Peonie wrote: »

Do we have a party every time someone goes sub £100K?

Oh yes we totally should!

Island77

I'd like to join as well -


Age - 34
Original Mortgage - £212,000 taken out in Feb 2007
Current Mortgage - Approx £177,000 (we were interest only for a year or so, then changed to repayment)

Trying to OP by £1,100 every month..

beth111

Id like to join also. Details in my sig.

museumworker

Can you count me in too please?

Mortgage when bought property (Oct 2008) = £198,000
Mortgage when remortgaged (Mar 2011) = £190,000 25 year mortgage
OPs made to date (Mar-Nov 2011) = £10,814.93, taking 2 years 4 months off mortgage (and saving £16,529 in interest).
Diary thread = https://forums.moneysavingexpert.com/discussion/2554029

Without OPs we would have got to sub 100K in just under 15 years. With current OPs we are now looking at that in 12 1/2 years . Am hoping to bring it to that in 6-7 years (lets say 6 at a stretch). I had been hoping to get it to that before we remortgage (in 4 and a bit years) but as we're now expecting a baby I think that is extremely unlikely!

Tilly_MFW_in_6_YRS

I would like to join too. I have only posted my diary this evening so no idea if I am 'allowed' to participate yet but hopefully one of you will tell me if I can.

User name: Tilly MFW in 6 YRS
Mortgage November 2004 £387000 29 years
Mortgage November 2011 £312000 10 years
Aim: MFW by 2018 in time for World Cup

Daryl_S_2

I'd like to add myself to the club having recently moved house, and also to the forum as this is my first post.

Needing to move, the sale fell through on our previous place twice, so we have had to put our previous house on an interest only let to buy and proceed with the new house.

So, our details are as follows.
Residential house;

My age:33
Mortgage at purchase (Oct '11):£137,750
Oustanding today: £137,750
Term Remaining: 32 years
3 year fixed at present with facility to make up to 10% repayments per year.

Let to buy is as follows;
Mortgage at commencement: £71,250 Interest only.
We have this fixed for 2 years, income above payments and tax will go into the OP pot on the resi home.
The let to buy was a short term fixed to allow us to move out of the 2bed into to a three bed property (we have 2 children) and we hope to sell within 2 years to release the equity to put into the resi home, to reduce capital and term.

Having gone from an o/s mortgage of circa 47k to a total liability of 209k is absolutely terrifying for me! particularly as my wife is a stay at home mum at the moment.
I am currently re budgeting and hoping to make some regular repayments to bring the capital down in time for remortgaging in 3 years.
Daryl