FifteenFifteen (1515)

I have decided to bite the bullet and document my mortgage free adventure, its trials and tribulations and hopefully successes too.

My aim is to be mortgage free by 1 May 2015, hence the title fifteenfifteen ahead of the programmed 30 June 2027 and denying the man (Nationwide in my case) as much of my hard earned cash as possible. I would also like to have a cheeky £10k in savings by that date too, that might be a bit of a long shot but you never know.

My mortgage was originally for 65k taken out in June 2002 and I added another 20k to it in August 2006. I have always tried to overpay to varying degrees over the year and in 2010 I reduced the term to 10 years as if you clear your mortgage any earlier than 10 years ahead there would be additional charges (1515 is 12 years earlier) and the man was about to introduce charges to change your term. He so is not getting any more of my money if I can help it.

As at 12/12/11 the amount outstanding is £32,344.55

so here we go :)
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Replies

  • Good luck with your journey :D
    Mortgage 12.12.12 £55842 12.12.13 £42716 14.12.14 £28837 13.12.15 £25913
    Mortgage OP £50/£600 House Fund £420/£5000
  • Thank you,

    Well today I have halved the price of my broadband now £4.75 a month and taken £14 of my iphone tariff.

    I am overpaying by £639 a month but things are too tight so the plan is to cut some other costs to allow me to continue at this level and perhaps be able to pay a bit more but to be honest that may just be pie in the sky.
  • newgirlynewgirly Forumite
    8.5K Posts
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Forumite
    Hello glitterball, are you already doing things like surveys/ebaying etc. as that can provide a bit extra when you are squeezing your budget pretty tightly, also check out the oldstyle board for brilliant ideas to stretch the grocery budget and more, best of luck and i am very envious of you only having 3 years to go !
    2022 MFW 67 - 33 month challenge to clear mortgage, month 3 completed and on track 🙂MFI3 No.12
  • monaebrookmonaebrook Forumite
    65 Posts
    Part of the Furniture
    Forumite
    Wish I was able to aim for 15/15, going to take us quite a bit longer than that. Do as many surveys as possible - surveynetwork is great and paid a rather large portion of our Xmas bills in advance with their pay out this year! Good luck - will be subscribing and popping in from time to time to say hello!
  • Thanks for the suggestions I do do some surveys and am menu planning to death :)

    Well it was time to renew my antivirus tomorrow, Norton sent through notice of automatic renewal £64.99 for the year. What a flipping cheek its £39.99 to buy from the norton site that’s not mentioning 25% topcashback. so your paying £25 for the luxury of automatic renewal, So my lovely computer geek brother uninstalled it and put me on microsoft essentials at a cost of …..oh yes nothing.
  • Sepa74Sepa74 Forumite
    962 Posts
    Forumite
    I've shifted to MS Essentials... I had Norton and got a virus, so I figured that if that was going to happen I might as well use MS and pay nothing! Seems fine so far and doesn't seem to slow down my computer at all.
    Borrowed £150,000 in an offset tracker mortgage in May 2007 - MFD May 2041 (67)

    Jan 2012 - £125,620.02 / 2,913.87 / Nov 2032 (58) :beer:
    Apr 2012 - £122,901.88 / 3,170.91 / Jul 2032 (58)
    Jul 2012 - £122, 589.02 / 3,507.99 / Sept 2032 (58)
    Oct 2012 - £120,476.31 / 3,889.42 / July 2032 (58)
  • TwiddyTwiddy Forumite
    148 Posts
    Forumite
    Hi GB

    Just dropping by to wish you all the best with your quest and I'll now follow with interest (didn't mean for all that to rhyme!!)....

    We've just installed Adware's version of the free anti-virus software courtesy of Martins guides and *touch wood* we haven't had any issues yet, previously with Norton where we did have one or two problems so see what happens.....

    Cheers
    T
    Current Mortgage: £113,829
    Standard MF Date: May 2030
    MFW Target Date: Jun 2023
    On Target to complete: Feb 2027
  • Ah my end of year mortgage statement arrived today from the Nationwide. Why is it so much more exciting looking at that piece of paper than looking at the balance on line??
  • JonnieShahJonnieShah Forumite
    55 Posts
    Eighth Anniversary Combo Breaker
    Forumite
    So glitter all, how have you progressed these passed 12. Months?
    Total Debt Credit cards £3,868 @17.9% Credit card £2,594 @0%
    Total Savings ISA £0,0

    Target for 2014 --- £-3,868/£11,000 (Sep 2014)
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