Mortgage Free in 10 years

edinburgher

Surveys are painfully dull, I haven't done one in months! Then again, there is a limit to eB@y sales and there are only so many matched bets available to keep things rolling along. Could you try and force yourself to complete enough for the next voucher, or is that miles away?

megela

Wow, my posts on here are getting further and further apart!

Mortgage Interest Day today, £249.43 added, an offset saving of £59.41. Balance now £92824.15.

July is an expensive month for birthdays, already had 8!, and DH has already been to Goodwood festival of Speed and Le Tour de France, so I think we'll be dipping into our savings quite heavily this month.

megela

Mortgage interest day again - £258.12 added - an offset saving of £59.53 Balance now £92405.27. No other overpayments made last month:(

Had a lovely week off at home with DH and girls last week. Big school shopping trip to Milton Keynes and a day trip to Stratford on Avon for my birthday. And lots of work in the garden, very relaxing.

Hope everyone is enjoying the summer!

megela

WOW!!! Long time no update!!!

Mortgage is currently going down slowly - £90548.07, so nearly under the next barrier. The only OP since August has been some vouchers used for xmas shopping.

The off-set is also OPing by about £70 a month so that helps.

We've kinda now decided against the big Disney trip next year as that is just so much money to spend on a holiday. I'm back to saving the regular £300 monthly mortgage OP but in an offset account, as I may use it for a kitchen. Once it's gone to the mortgage it's gone!

I hope everyone has a Wonderful Christmas, and a Happy and Peaceful New Year!!:xmastree:

misscousinitt

Wow megela - you are almost as in-frequent as me lol.

The disney holiday sounds great - I know its a lot of money, but it will be worth it - build those memories.

Wishing you and your family a very Merry Christmas and a fabulous New Year!

MCI xxx

Mortgage_Reduction_Novice

Looks like we're both still plodding on with the mortgage-free effort despite low posting frequencies.

greent

We're planning on Disney in 2016. It *is* a lot of money but the memories will be priceless - and we've been promising the children it for a few years. Also, that summer DD will have taken her A levels and DS1 his GCSEs - it'll have been a tough couple of years for them both and also will be getting to a time where family holidays for the 6 of us will become less and less, so a big one that summer seemed a good plan. Dreading the cost though!!!:eek::eek:

megela

Mortgage Interest on 5th Jan was £233.33 leaving a balance of £90104.40


Mortgage Interest today was £229.47, and offset saving of £78.94, leaving a balance of £89656.87 - under £90K!!!!


I've also knocked another month of the end date - now October 2029.


Within a week in January we booked 3 holidays! Eeeek.
A romantic weekend away in a treehouse (with Xmas money from MIL)
A weeks campervan hire to visit Scotland (something DH has wanted to do for several years)
Then an 'accidental' holiday with friends to a villa in Majorca. We were going to do a foreign holiday next year when eldest is 17 as she won't want to go for much longer - but friends have had a bad year and wanted something to look forward to, so we bought it forward.


It's all within our budget, but different to last year when we managed 1 weekend on a boat on the Norfolk Broads!


Still not making an OPs to mortgage, saving them in offset for possibly a new kitchen next year.

megela

Re-mortgaged 20/04/12 MTiT-T3 No.7

Start balance £89611.10 + £22500 = £112111.10/Current balance £88720.83
Original Mortgage Free Date April 2032
Target Mortgage Free Date July 2022/Currently October 2029 (based on no offset)
Total overpayments from 20/04/12: £8152.95


3 year anniversary update, and even without the regular £300 overpayments for the last year I have reached my target to clear the extra £22,500 we re-mortgaged for to buy industrial premises for the business.


The regular £300 was going to a Florida holiday, but we've decided it's just too much money. The £300 is now going towards a new kitchen, and is off-setting the mortgage in the meantime.


Balance at highest: £111820.57
Balance as at 20/04/2014: £88720.83
Paid off since last year: £5386.07
Paid total: £23099.74


Over the moon that we've met our 3 year target , now just 7 years left to clear the rest!!!


The end date has only changed by 2 months in the last year to October 2029, however still moving the right direction.