FifteenFifteen (1515)

129 Posts
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
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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Cheers
T
Standard MF Date: May 2030
MFW Target Date: Jun 2023
On Target to complete: Feb 2027
Total Savings ISA £0,0
Target for 2014 --- £-3,868/£11,000 (Sep 2014)