Mortgage Free in Three Yrs

cazmanian_minx

Congrats, Angela, have a wonderful time!

And well done catshark for reaching a milestone!

Caz

Kaz2904

Logged onto quidco again today to sign up for a free two week trial for a film thing (£5 cashback) and found I've been paid £35.36 since I checked my banking so guess where that went?!
Unfortunately found that DH bought his nicoteine (sp?) patches on card the other day so £28 odd down again. I feel this month is going to end more red than usual, never mind heh I'll just keep plodding along.

djbd1973

Kaz2904 wrote: »

Does anyone else find that they have got this far in and are so used to living on this budget and chucking the extra at the mortgage that you feel like you aren't actually doing anything now?

Hi Kaz - I know exactly what you mean. I had an offset mortgage up until April and my wife and I cleared several thousand pounds off of it over about 5 years but my working/earning circumstances changed and so has our mortgage cutting habits. When we were saving like mad, we were often refusing to go out or treat ourselves to get the job done, whereas friends we had were piling their debt higher and higher. But its nice to know that you are going in the right direction with all the support of everyone on this site.

taka

Good luck and congratulations Angela. Hope you have a lovely wedding and honeymoon.

Move_To_Portugal

Congratulations Angela from me also. Have a great day and a great honeymoon.

Scarum

Hi

I thought I would let you know what I am doing with my mortgage with the Nationwide.

Thankfully it's not a big mortgage, 10 years ago at the start it was £32k and 10 years later it was £28k, then this year I started making £500 overpayments every month.

I have been able to make these overpayments because of a promotion at work this January. Now my mortgage is £19k, I just paid £900 this month!

Why do I wish to pay it off so quickly? Well, my Spanish girlfriend works in Spain and the plan is to let-out my house. This would give me a nice income when I go to live in Spain as I am certain I couldn't get as good a job as I have here.

Currently I have a good car, worth £8,500 and wondered would it be worth while selling it, getting a £1,500 run around and use the excess capital to pay off more of the mortgage? I also have a little over £5000 in a Perpetual shares ISA. I calculated if I sold my car, cashed in the ISA and payed £500 a month on the mortgage I would be mortgage-free by next August!!!

Desperate_Housewife_2-2

Hi Scarum and welcome to the thread. I say go for it! I would if it were me, it sounds like a great idea!

Kaz2904

I would say that as you want to relocate to Spain in the long run you won't be wanting a fancy car. Sell it now before it depreciates and get a smallish oldish one that you will probably be able to sell for what you paid for it!
Wow that's a motivator to think you could be done in less than a year innit?!

Karmacat

Just updated my Olympic Challenge total, and it was much higher than I thought, mostly cos of ss's darling scheme. Had to go into my little online stash account to do it, and along with the bits of money that were already in there, I'm just over halfway towards the amount I need for another maximum overpayment to Nationwide for the mortgage. It currently stands at £253.89 and there's another £75.50 in transit to it, making £329.39 towards the £500 I need. Only trouble is, my Amazon sales have dried up completely, I'll have to find some more CDs to sell .

I *used* to have legit software (built into the PC I bought from Time Computers - anyone remembe them?) that would copy individual music tracks - does anybody know of any freeware that will do that? That would be a real bonus.

wisewoman

Hi Questees!
Gosh, I have missed reading all your progress reports...been off having a bit of surgery and NHS B and B...I'm amazed at how many pages we now cover, and will take days to catch up. Keep up the great work. Inspirational!