Quest To Pay Off My 150K Mortgage in 3 Yrs!

MUSTBEFUNNY_2

Thanks - I thought it was abit much myself, so I edited it, cos in the end I can't prove for sure that you are Sloppy Saver. Now who's stalking who? You got nothing better to do than to follow my every key stroke?

cazmanian_minx

Dithering_Dad wrote: »

Paid off: £30,827.29

Not bad, but not enough to get the mortgage paid off in three years, methinks!

I think it's absolutely brilliant - I wish I'd been as dedicated and hard-working this first year, I'd have nearly paid mine off completely with that amount

Good luck for years 2 and 3 :beer:

Caz

Dithering_Dad

cazmanian_minx wrote: »

I think it's absolutely brilliant - I wish I'd been as dedicated and hard-working this first year, I'd have nearly paid mine off completely with that amount

Good luck for years 2 and 3 :beer:

Caz

Thanks Caz . I think you're doing brilliantly - you've paid off 18% of your mortgage already and you're totally on course to blitz the rest by the end of the MFi3 challenge.

Can you imagine just how good it will be to have that sort of financial freedom? No matter what life throws at us, we will always have a home

cazmanian_minx

Dithering_Dad wrote: »

Thanks Caz . I think you're doing brilliantly - you've paid off 18% of your mortgage already and you're totally on course to blitz the rest by the end of the MFi3 challenge.

Can you imagine just how good it will be to have that sort of financial freedom? No matter what life throws at us, we will always have a home

Ahhh, the sig's going to be inaccurate shortly, I hope - we're moving to Scotland and the £27k outstanding is going to be replaced with £145k :eek: On the plus side, the offset account is going to be looking VERY healthy with the proceeds from selling this flat! (As long as we can sell this flat...)

But this is going to be a joint mortgage with the OH and he's totally onside with regards to MFi3, so hopefully we might be able to make a big dent in it by April 2010

Caz

Dithering_Dad

eek! 145k!

I can't imagine going back up to that mortgage level again! Hmnn, well actually, I'd be happy to if I found just the right place. A nice stone cottage in the countryside...

cazmanian_minx

Dithering_Dad wrote: »

eek! 145k!

I can't imagine going back up to that mortgage level again! Hmnn, well actually, I'd be happy to if I found just the right place. A nice stone cottage in the countryside...

Ah, something like the one we're buying then??

http://www.caithnessproperty.co.uk/asp/framed.asp?file=177%20Armadale.pdf



Caz

mittens_2

http://www.channel4.com/money/homebuying/overpaycalc.html
This is a good overpayment calculator. Been looking at your posts DD, you are doing well. Wish I could get my head around it all and could do the same!

catshark88

DD I owe you a pint of virtual beer. Once our most recent payment clears, our mortgage will be sub £200k. Shed loads to go still, but it will be fab to see a 1 at the front. We would never have got into this overpayment milarkey without the inspiration from the Funky Gibbons and yourself so many thanks!
:beer:

angelavdavis

mittens wrote: »

http://www.channel4.com/money/homebuying/overpaycalc.html
This is a good overpayment calculator. Been looking at your posts DD, you are doing well. Wish I could get my head around it all and could do the same!

That one is my favourite

Dithering_Dad

mittens wrote: »

http://www.channel4.com/money/homebuying/overpaycalc.html
This is a good overpayment calculator. Been looking at your posts DD, you are doing well. Wish I could get my head around it all and could do the same!

Hi mittens, that's my favourite calculator too.

If you want to get overpaying, just phone up your mortgage provider and tell them you'd like to start making overpayments and would like to know if you're allowed to (without penalty), if there is a limit to what you can overpay and how you actually do it. Ask how to make regular monthly overpayments and one-off ones.

Then look at all your outgoings and see if there is any 'fat' you could trim. I got better deals on my utilities and insurance, and these savings went onto the mortgage. It's surprising how even a few quid can quickly make a difference, especially over the 20odd year lifetime of a mortgage.

You can also look at ways to increase your income, either a better job or second job or have a look at Tall Girl's MFW blog for tips on how to get free money from gambling sites.

Good luck, and thanks for your nice post .