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

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Comments

  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    Good Luck with those moving plans clipart-house.gif
  • adwat
    adwat Posts: 255 Forumite
    Mortgage-free Glee!
    Oh dear, not a very successful end to your challenge!
    MFi3T2 #98 - Mortgage Free 15/12/2011
  • gallygirl
    gallygirl Posts: 17,240 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    adwat wrote: »
    Oh dear, not a very successful end to your challenge!

    Actually, I see it as the opposite - by Oping so much DD can get a bigger mortgage and also won't have the psychological fear of a big mortgage as they know how much they can realistically OP each month.

    Well done DD & a big thank you again for setting up the challenge :T
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
  • DD8_2
    DD8_2 Posts: 1 Newbie
    After all my hard work it's a bad ending, my new mortgage stretched me too far, I lost my job and now my house has been repossessed. But at least I am mortgage-free now. :(
  • abouttimetoo
    abouttimetoo Posts: 1,860 Forumite
    Part of the Furniture Combo Breaker
    This really doesn't sound like a normal DD post? Is someone pretending to be DD by creating a new username similiar to the ones he has used in the past??
    MFW 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 £1,995
  • twinklie
    twinklie Posts: 5,184 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Thats what I was thinking.
    Reduction in daily mortgage interest since October 23 (new mortgage) - £2.36 July 25
    % of house owned/% of mortgage paid off. July 25 - 38.82%/31.66%
    MFiT-T7 #21
    MFW 2025 #2
    MF Date: Oct 37 Feb 37
  • gallygirl
    gallygirl Posts: 17,240 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    twinklie wrote: »
    Thats what I was thinking.

    Here's hoping :(
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
  • twinklie
    twinklie Posts: 5,184 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    YEY! :j Very glad it's just an impostor! :D
    Reduction in daily mortgage interest since October 23 (new mortgage) - £2.36 July 25
    % of house owned/% of mortgage paid off. July 25 - 38.82%/31.66%
    MFiT-T7 #21
    MFW 2025 #2
    MF Date: Oct 37 Feb 37
  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    good_luck_on_your_move_card-p137996634605962659q6k5_400.jpg
  • JohnD76
    JohnD76 Posts: 79 Forumite
    Not so Dithering Dad,

    Good luck, but don't forget to leqave sufficient funds in your company to pay for Corporation Tax and reserve sufficient funds from dividend withdrawls to pay your Self Assessment Tax, paid from personal funds not company funds.

    Look into what you can and can't claim as monthly expenses too.

    Join the flat rate VAT Scheme and get an accountant, look to pay less than £100 a month for this and they should do your payroll, VAT and Self Assessement for you for this fee.

    It is also worth joining the Professional Contractors Group (PCG) if you haven't already.

    Stick with it and good luck.

    John.
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