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Panther 2012 wants to be Mortgage Free!
Panther2012
Posts: 8 Forumite
Hello!
After being in limbo for two years I’ve finally bought my ex partner out of his share of the house and have taken on a mortgage debt of £106,344.70! Bit scary taking it all on myself and after being told by the lender that my house is in negative equity it was the final push to join the MFW list. I have a 35 year mortgage of which 30 years remain. After working out my incomings and outgoings, I can afford to make at least £250 overpayment a month. At that rate I should be able to shave 10 years off the mortgage and before I hit the bit 5 -0. Looks like I might be here awhile! I’m pretty good at saving so I hope I can pay it off sooner.
First overpayment due in May after I’ve paid off my credit card.
Wish me luck!
After being in limbo for two years I’ve finally bought my ex partner out of his share of the house and have taken on a mortgage debt of £106,344.70! Bit scary taking it all on myself and after being told by the lender that my house is in negative equity it was the final push to join the MFW list. I have a 35 year mortgage of which 30 years remain. After working out my incomings and outgoings, I can afford to make at least £250 overpayment a month. At that rate I should be able to shave 10 years off the mortgage and before I hit the bit 5 -0. Looks like I might be here awhile! I’m pretty good at saving so I hope I can pay it off sooner.
First overpayment due in May after I’ve paid off my credit card.
Wish me luck!
Mortgage debt at April 2014 £93,765.88. 28 years and 2 months remaining[/COLOR]
Mortgage debt at June 2013 £97.856
29 years remaining
Mortgage debt at March 2012 £106,334.70
Mortgate term 35 years. 30 years remaining.
Mortgage free aim by 2032
Mortgage debt at June 2013 £97.856
29 years remaining
Mortgage debt at March 2012 £106,334.70
Mortgate term 35 years. 30 years remaining.
Mortgage free aim by 2032
0
Comments
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Oops my signature should read 'Aim to be mortgage free by 2032' Does anyone know how to change the signature?
ThanksMortgage debt at April 2014 £93,765.88. 28 years and 2 months remaining[/COLOR]
Mortgage debt at June 2013 £97.856
29 years remaining
Mortgage debt at March 2012 £106,334.70
Mortgate term 35 years. 30 years remaining.
Mortgage free aim by 20320 -
if you go to the user cp bit at the top then go to edit signature you can do it there ... then just save
good luck on your journey0 -
Hi go to quick links which is in the green stripe just above you, and its listed in there.
Best of luck with your new mortgage free journey, there are many good ideas on here.
Oops , sorry too slow!MFW 67 - Finally mortgage free! 💙😁0 -
Thanks ElanTan and Newgirly!Mortgage debt at April 2014 £93,765.88. 28 years and 2 months remaining[/COLOR]
Mortgage debt at June 2013 £97.856
29 years remaining
Mortgage debt at March 2012 £106,334.70
Mortgate term 35 years. 30 years remaining.
Mortgage free aim by 20320 -
Welcome and good luck on your journey0
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Welcome to the board Panther and good luck with your plans.
You'll get lots of good advice and support on here and will probably end up finding it quite addicitve
Regards
ATTMFW Start Date 1.4.08. Updated 23.1.18. MFW date 1.8.18
Original Mortgage o/s £187,643 / £71,904 (-115,739)
Repay o/s £92,661 / now £55,900 (-36,761)
Int Only o/s £94,982, now £16,004 (-78,978)
Total daily interest £1 [a) £0.77 b)£0.23
Total OP's:2018 target £TBC YTD £1,9950 -
Hi Panther, this board turned my life around in November last year, after lurking for a year. Good luck and I wish you every success.
It does become addictive, but in a good way.
Best wishes Tilly2004 £387k 29 years - MF March 2033:eek:
2011 £309k 10 years - MF March 2021.
Achieved Goal: 28/08/15 :j0 -
I've managed to pay my first overpayment installment of £1000!!! It's taken 6 months off my mortgage term. Yaaaaaay.
Mortgage now £104,676.Mortgage debt at April 2014 £93,765.88. 28 years and 2 months remaining[/COLOR]
Mortgage debt at June 2013 £97.856
29 years remaining
Mortgage debt at March 2012 £106,334.70
Mortgate term 35 years. 30 years remaining.
Mortgage free aim by 20320 -
6 months off in one go is impressive
well done. DEC GC £463.67/£450
EF- £110/COLOR]/£10000 -
Well done! 6 months off - splendid. When do you think you get get £676 off to get it down to 104k? It feels great to overpay doesn't it...Feb 2012 - onwards MF achieved
September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
April 2018 down to 28.00 months vs 30.04 months at normal payment.
Predicted mortgage clearing 03/2047 - now looking at 02/2045
Aims: 1) To pay off mortgage within 20 years - 20370
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