Joining the quiet revolution!

lexington013

Well, spent a couple of hours using the remortgaging tools and checking out other lenders.
I'm now clear on what I'm going to do. 8 years of my mortgage remain
Remortgage to YBS in 6 months time when my fixed rate with Natwest ends.
Move to a discounted SVR for 2 years with a lump sum overpayment upfront, will leave a 6 year term.
Potential for further monthly overpayments.
As is stands since I started this journey in 2012 I will have reduced the term of the mortgage by 10 years exactly.:j

lexington013

So day off today, back to work on Tuesday. Need to get a haircut today and fuel the car. Seem to be spending a lot on commuting. It's a big diesel but fuel prices have steadily risen the last 2 months. I reckon I'm spending £50 per week on fuel. Got a short break coming up towards the end of March with my lovely partner, who has organised it all, so a few days in the sun. Hoping 2017 will be a catalyst for pushing on with OP the mortgage and reducing some debt.

lexington013

Just a quick check in. Quiet day today, working later on. Will review my Natwest mortgage balance and consider my options to lower my payments.

lexington013

Depressed today, need to shake this off!

lexington013

Ok mortgage now stands at circa 97k with 7 years 8 months to go.
Can't believe that I started this s thread in 2012 to keep myself focussed.
Currently on a tracker rate with about 14 months to go.
Will check back in 3 months from now when I can make some decisions on a fix for 1 year or maybe two years.

lexington013

Ok just checked my mortgage statement online and I'm further ahead than thought!
6 years and 4 months to go and mortgage stands at £89,011 pounds.
I'm on a tracker at 2.09% and my LTV is 39%.
Be great to get this down to 5 years term remaining so I need to put my thinking hat on!

lexington013

So started this journey in March 2012, fast forward nearly 7 years. Have posted in my diary on and off throughout that time. In 6 months time I will come off my tracker rate which has been good as long term it's been cheaper than a fixed rate. In 6 months time I can relinquish afford to pay a decent lump sum off my balance ( circa 50k). I can then reduce my Term from 5 years and 6 months to a 2 year fix and finally become mortgage free! The end of the mortgage slave seems so close now! I will have reduced my R.E.M. From 25 years to 13 years and 6 months by overpayments and some savings.��

lexington013

£80,000 remaining on the mortgage now with 5 years and 8 months.
I'm about to overpay 30% of the balance next week then move onto a SVR for a week and make another lump sum overpayment.
That will leave £30,000 to pay over the remaining term. I'm so close now to ending this mortgage, I reckon it could be gone in 3 years time!

lexington013

Decent day today, made a 26% overpayment to the mortgage today, so now stands at £48,500.
I intend to make another £10k overpayment in August and then take a 2 year fix. It's great to see my monthly payment drop by £500 a month.
Now on the last leg of this mortgage slaying revolution.

LeighofMar

You are so close. Congrats on all the hard work and saving to get you to this point. We are at very similar balances. Sometimes I fantasize about selling the travel trailer to put an additional $8000.00 on the mortgage and just get closer and closer, but I'm working hard to stay on course and levelheaded for now. You're almost there. Keep us updated.