Here I go....

numptyknownothing

Hello 1 and all, I missed my August update and have nearly missed September as well. Have been a bit slack but only on the forum, am still a committed MFW. So just an update on my figures for now.

numptyknownothing

Happy New Year Happy New year.

So a quick update as that's all I seem to manage but I promise I am just as committed. Or is that should be committed??!?

I missed our end of year target which was a shame however I am not disappointed as we achieved so much more last year than we could ever have imagined. 2013 certainly had its ups and downs and I am looking forward to a much quieter 2014 - famous last words. We even ended up getting the kitchen done at the end of last year as a complete surprise to me. We needed to get an interest free loan to top up our funds but it was a major tick on the work list for the house and I can't believe the difference it has made to everyday living already. We even retired the old tele and have made the leap to flat screen viewing and enjoying that too! Weight is around the same as this time last year so even that is an achievement as I have maintained the weight loss from the previous year.

So in brief we welcome 2014 with new targets and new goals set. Bring it on - one step at a time, of course xxx

numptyknownothing

I have been very lazy with the updates but not slacking on the MFW front. We broke the £100k barrier in January 15 - woohoo


We had scheduled more home improvements last September but the contractor let us down. So we have kicked off this year with the drive being done - being finished today. Last big job.


The aim for this year is to almost halve the mortgage. We have an endowment paying out next month and with the monthly payment from that and an interest free loan finishing in October, we should be able to knock chunks off the remaining balance. With just one more room to decorate the house is nearly finished so should then be able to channel some of the decorating fund to overpayments as well. All this said the bank have a finishing date of March 2027 and I have a finishing date of December 2018. Blooming marvelous. Can't wait to join the MF in 3 forum!

jodles16

Just saw your diary and have had a good read, you have done amazingly well! Congratulations on breaking the 100k barrier! Amazing!!

Jodles

Firegirl

Brilliant breaking the 100k barrier, well done!

numptyknownothing

I was having trouble (again) reconciling the amount we are being charged every month versus what the calculators were saying we should be paying so got the mortgage company to recalculate our payments and our payment has reduced by £120 per month!!!! With the lump sum next month, another recalculation request scheduled, it should reduce by another healthy chunk. Lovely xx

numptyknownothing

Having caught up on a few threads, we will not be recalculating the payment. We will be continuing the current payment and reducing the term. I've been having trouble understanding what the difference is. A recalculated payment means less of a commitment each month and larger overpayments enabling us to choose if the payment is recalculated or reduce the term. Or keep the contractual payment the same and reduce the term. Its an interest thing, I think. Next month I will be making a concerted effort to understand the difference.

numptyknownothing

Getting excited about this months calculations. Less than 2 weeks before we can pay off a chunk of the morgage. Nearly got tempted by buying abroad but have to focus on one goal at a time. We wouldn't be able to enjoy a place abroad as we would still have to work full time to pay it all off. So we are going to forge ahead with the mortgage free plan and then I might think about a bolt hole with a small mortgage so that we can both go part-time and spend time each month abroad. Dreams, dreams, dreams!!!

numptyknownothing

:T Boom!! Happy to report we have smashed our end of year target a month early. We hoped to have the mortgage down to £53k by the end of the year and with a couple of adjustments we have got under £53k this month and should end the year just under £51k. Can't tell you how good it feels. We are considering moving so might end up mortgage free sooner than we thought but I'll join the MFin3 in January just in case we stay put. Exciting all the same.