Mortgage Free in Three Yrs

wisewoman

Congratulations akh43...welcome to the club. I'm still enjoying the feeling 8 months later. However, all our plans to put the extra cash aside have gone out the window completely...I suppose that after 25 years of scrimping, we have had a bit of a financial fling. Must knuckle down again.

Trying_to_be_good

Go on wisewoman - tell us how you've been treating yourselves - give us that motivation!

Trying_to_be_good

Hooray! I have a working boiler again! That's £2,400 not going towards the mortgage, but at least the kitchen shouldn't get any more damaged from the leaking water. Now it's just the insurance for the damage to sort out, and the hassle of getting things fixed. But very glad the boiler was replaced before Christmas.

Superfast_Gran

Just made our monthly "allowed" overpayment of £100.24 - feels good, doesn't it!

TTBG - glad you got your boiler fixed - we came home from holiday in October last year to one that decided not to work at all - and then did! We got our replaced in April this year - stop me if I've told you guys this before - because OH wanted a more powerful shower and that translated to a new boiler, which in turn translated into a new kitchen as some of the old one had to go to accommodate the new boiler! That cost us 9.5K all in, but it was worth it. Now the kitchen is the best room in the house!

We should have a bit more to add to the overall savings fund for paying off the mortgage as I'm not now going to New York in January. I'm sorry not to be going as I was looking forward to it, but happy not to be spending the money. That said, we're thinking of having the attic floored in the new year - it'll help make storage up there more orderly and possibly safer for me when I venture up there - which is not all that often given my MS. However, I went up to point out decs & tree boxes to OH and what an unholy mess the builders left after the new kitchen/boiler/shower. Hey ho, what can you do?

Was naughty twice this week - went to Ikea and spent more than intended both times. I couldn't take the goods and run because my hair is a very distinctive shade of red at the moment - or at least it is to everyone of my friends and family that have seen me since I had it done! Even the folks in the college beauty salon where I had my massages yesterday and today commented on it - lol!

If I keep this up OH won't let me out on my own!!!!!

ailuro2

setmefree2 wrote: »

Ailuro2 - I have a virgin media package (Xl & Sport). How did you get a £25 loyalty reduction?

Using the ammo I found on here- Sky were doing three for £25 etc.... I told them I'd been happy when I was getting Sky One, but now I'd lost the Simpsons, 24,etc I had decided I could no longer justify the cost. They offered me an upgrade to XL tv, 8MB broadband and talk evening weekends for £34 ish, so I bit their hand off...;)

http://www.moneysavingexpert.com/shopping/cheaper-sky-cheap-cable is Martin's guide. Hope it saves you a few quid, or maybe even a few weeks on the mortgage over the years:beer:

Wow akh43! Congratulations- MFinunderaweek!!:j

TheBees

Hi Dithering Dad
Just found your challenge and wondered if it's too late to join you all?
Our mortgage is currently £57K and we are on a fixed rate (interest only) for 5 years. We won't be able to pay more than 10% a year off but would still like to get it down to to £47K by the end of the challenge in April 2010.
Many thanks and good luck to everyone from TheBees

setmefree2

SFG that's a very expensive boiler...I was chatting to someone the other day who told me they nipped out for some milk.......and came back with a car:p

Superfast_Gran

setmefree2 wrote: »

SFG that's a very expensive boiler...I was chatting to someone the other day who told me they nipped out for some milk.......and came back with a car:p

Thanks - that made us laugh today.

TallGirl

Great news that people are doing so well it is quite a hard month December. I am looking to switch life insurance and I have asked my work for a qoute. I really don't have a clue about these things so lets wait and see what they come back with.

Finding the detials of my life insurance I came across my remortgage paperwork back from January 2002 it reads as follows

Amount of mortgage £80956
Type Repayment Offset
Term 18 years
Intererest rate 4.75%
Monthly payment £558.28

We had bought the house 7 years earlier with an endownment mortage but used that so the £80k was our original amount we borrow. Scary that we still owed the same 7 years later but at least I had the foresight to ask for an 18 year mortage and not 25 at the time. We also set up the DD to pay £750 back in 2002. Well now our mortage reads as follows

Amount of mortgage £29000
Type repayment offset
Term 27 months
Interest rate 0.85 above base rate
Monthly payment £1000

I am so glad I got out of that endownment mortage in 2002 and that we have been overpaying ever since.

tattycath

Well done TallGirl, that's :j fantastic!!!:j you've done
:j great!!! :j
I'd like to think that we might be in a similar position at some point in alot less than the 20 years we took ours on for. I still keep trying to work it all out-mind boggling stuff!!!