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Mortgage Free in Three Yrs
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Oh the glamour of working away! Megamoocow has to work away on ships at times and everyone thinks he's going on a cruise! More like oil tankers/container ship. I'm told even if they go on cruise ship they aren't allowed "upstairs"! I have now got a long list of places I'm told "We must go to so I can actually visit properly - looked quite a nice place from the taxi between the airport and ship!":j MFiT Club Member 14 :jMortgage Outstanding 01 April 2007 - £51,051 :eek:
Mortgage Outstanding 25 February 2009 - £NIL :rotfl:
Savings 01 April 2009 - £1,522
Paid off 19 years 8 Months early - Original Mortgage £63,000 October 2003 - 25 year term0 -
Great, managed to get signature sorted, thanks DD.
It's amazing how many people think you have a glamorous job because you go to all these foreign places.
Unfortunately, the reality for most people (Well, me anyway) is long hours, and sitting (usually alone, sniff!)in a resteraunt in the evening trying to decipher a menu which looks like it's been written in Klingon!
Still it pays the bills, and makes you appreciate being home all the more.
minimoocow - I was in the Royal Navy for 10 years (Did engineering apprenticeship there when I left school) and have sympathy for Mr Cow (Mr Bull??!!) - being away at sea has to be the dullest experience ever - you can't even get away from people you don't like!
ATB
DaleyDIt's not a light at the end of the tunnel, it's a man with a torch and more jobs
Nothing is foolproof to a sufficiently talented fool.0 -
Hi
Can I join too?
The situation I am in is good to start with, I took on a third remortgage in March 06 and got onto a 10 year fixed at 4.67% on £74000. The Woolwich will only accept 5% of the balance/year as an overpayment figure. At the moment we are paying a very small overpayment, basically keeping the payments the same as the last remortgage, and that is £505. But with the mortgage rate being so low we have opted to save instead. So, £9000 in ISA's paying 5.8% and £21000 in a one year fixed bond and after tax this still pays out slightly more than the mortgage interest and ~£8000 soon to be available from a SAYE scheme. That gives us £38000 + interest generated against what we could pay off the mortgage.
I am thinking that I could try and up our overpayment by £100 to £150/month and do this to complement what is saved.
If I was to pay off in 3 years then I would be penalised for doing so by the Woolwich, so can I join based on the fact I can pull all the money together to pay off the mortgage and be in a position whereby savings interest is exceeding mortgage interest? does that sound fair?
The plan outlined above may go off the rails as we plan to have a second child, but I have a determination to be rid of this ball and chain0 -
Welcome save-a-lot
I have just totted up our collective repayment target, which does not include tigtag02 or TriketAndBiker (as they are both looking to reduce term, no figures listed for savings by doing that) and it comes to a staggering £866,598! :j
Breaking it into bitesize chunks that equates to £812.18 per each day of the challenge or £33.84 per hour or even better just less then 1p each second!
So there is truth in watch the pennies and the pounds will look after themselves :T
Well done to all those that overpaid or added to offset savings this month
'we are the gang who will be mortgage free, we are gonna do it just in three':D:D
Official Mascot and Chief Cheerleader for the 'Mortgage Free in Three' Gang0 -
Hey GroatieQueen!
Just needed to wish you all the best...I'm fighting my way back to health after breast cancer, then all the therapies, then the side-effects of the therapies. I haven't worked since Hallowe'en 2005, and we have dipped heavily into savings (my husband roared with laughter when I said we shouldn't touch our savings because they were for a rainy day..."Is this not the rainy day?" he asked), but the good news is that we managed it, the mortgage is paid off this month...if Halifax would stop messing us about and supply our endowment provider with the paperwork!!!...and we put the grand total of £250 into a cash ISA for 2006-07.
The one thing I'm glad about is that (only a couple of months before my diagnosis) I had been saving up for new carpets, had a tidy wee sum put aside, then had a complete rush of blood to the head, acted completely out of character...and blew the lot on a speed-boat!!
Love the boat, we had fun on it, and it has allowed my hubby hours of therapeutic tinkering since. You can do it, Groatie. And you'll get Incapacity benefit of about £75 per week...CAB are SO helpful. Big hugs and positive thoughts. all the best. XXMortgage Free in Three cheerleader0 -
Go on DD. Can I be a cheer leader too? Please.Mortgage Free in Three cheerleader0
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I'm 5'10" and in my hey-day, my legs were quite memorable!Mortgage Free in Three cheerleader0
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Welcome to the cheerleader team wisewomanOfficial Mascot and Chief Cheerleader for the 'Mortgage Free in Three' Gang0
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Firstly
Happy Birthday Kaz! :j
Secondly --- Welcome to all the new questees. Im sure you will agree, that this is the thread to be, if you want to be Mortgage Free in Three (Wow ... that ryhmes!!)
Thirdly
Dithering Dad! - Could you please INCREASE my target to £84k please. With the slight rule changes (whereby we are accepting offset savings) i would like to include the value of investments that i am unable to remove within the 2010 pre April Tax Year (obviously with every faith that the current share price will remain constant!)
The finances will be looking good come the 5th May - This months mortgage would have been paid (along with overpayment), first installment of the carpet loan will be paid, and £750 will be going into the ISA. That should leave us with visible proof that our net debt is below £100k
I've managed to obtain a 0% purchases c/card until Sept 2007, so will be using this to spread the cost of nappies and baby clothes ... every little helps!Proud To Be Dealing With My Debts - 1420 Days To Go!LBM: £103,592.98 / Currently £78,500.08 - Down 24.22% / Mortgage: £92,800.00 / Loan: £17,284.21 / Overdraft: £450.09 / C/Card 0%(October 08): £5,601.54 / C/Card 0% (January 09): £1075.22 / Child Care: £137.80
Share Investments: £51,390.74 / Money Owed From GS: £5,812.610
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