Mortgage Free in Three Yrs

Dithering_Dad

TrikerAndBiker wrote: »

Thanks DD for the 'm afraid that the amount we are looking to save is tiny compared to most on here. By overpaying by £70 ish a month we will reduce the term by 2 years and save £2500 in total

For every pound we overpay, we save 5 - 7 pence a year in interest payments. It doesn't matter how much we overpay as long as we overpay something and deny the banks our hard-earned cash!

United are going to be knocked out of the Champs league. I may have to have a period of mourning before I post again.

tigtag02

Dithering_Dad wrote: »

For every pound we overpay, we save 5 - 7 pence a year in interest payments. It doesn't matter how much we overpay as long as we overpay something and deny the banks our hard-earned cash!

United are going to be knocked out of the Champs league. I may have to have a period of mourning before I post again.

Hear hear to your first statement!!

All I have to say about your second is....:mad: :rotfl: :mad: If its not enough that I have to put up with this at home its in virtual land too

farhad1965

Dithering_Dad wrote: »

For every pound we overpay, we save 5 - 7 pence a year in interest payments. It doesn't matter how much we overpay as long as we overpay something and deny the banks our hard-earned cash!

United are going to be knocked out of the Champs league. I may have to have a period of mourning before I post again.

I am going to wear a black arm-band to work tomorrow. At least we will go for Chelsea's throat at the FA Cup final and premiership games. I'll be happy with a double.

Please add me to the 3 year challenge. I will reduce my mortgage balance by £65,000 to £400,000.

Farhad

cupid_s

Hi to all
TYAE the picture is adorable!
I really like that mortgage calculator DD. Mainly because it tells me that with my overpayments so far I would have been reducing the term by 6 years had I carried on like this. But taking into account paying all my savings off the mortgage in august I will actually have reduced my 25 year mortgage to 6 years and saved £31565.

I don't care about denying the banks money I just care about how much more I will have and what we can do once we get rid of the huge millstone round our necks.

I'm going to tell DH I've saved us 12626 pints of lager and he'll be well happy!

TrikerAndBiker

Dithering_Dad wrote: »

For every pound we overpay, we save 5 - 7 pence a year in interest payments. It doesn't matter how much we overpay as long as we overpay something and deny the banks our hard-earned cash!

United are going to be knocked out of the Champs league. I may have to have a period of mourning before I post again.

Thanks DD for the words of encouragement

As for the second bit..... United?? what?? utilities?? nations??? dairys??? surely you not talking the F word!! :footie: is banned in our household :T

cupid_s

farhad1965 wrote: »

I am going to wear a black arm-band to work tomorrow. At least we will go for Chelsea's throat at the FA Cup final and premiership games. I'll be happy with a double.

Please add me to the 3 year challenge. I will reduce my mortgage balance by £65,000 to £400,000.

Farhad

OMIGOD!!!!!!!!!! Your mortgage is soooooooooo big. A huge welcome here and I hope you can make a really significant dent in it along with the rest of us :beer:

farhad1965

Thanks Cupid_S:beer:

Yes, its big, that's what I get for living in a leafy North London suburb!!!:mad:

I know a man who has a £800k mortgage @ 7.5% ... pays £5000/month interest only. Makes your eyes water!!! :eek:

ixwood

Great idea... Count me in!!

143k gone, or close as possible.

Pilsbury

Hi I will be watching with interest this thread and when i get all my figuers together this month i might see about joining in if i may

Kaz2904

Original Mortgage Balance - £466,965
Current Mortgage Balance - £465,000

:eek: :eek: :eek: :eek: :eek: :eek: :eek: :eek: :eek: :eek::eek::eek:

OMG I hope your incomings are something close to your outgoings! I am absolutely petrified about owing 92K+ so would hate to be in your shoes!



Anyone see Grand designs earlier? DS put on the prog on 5 life(?) just before because there were daleks in his room (He's 3) and was watching a similar prog about new life in the country (actually- if he's 3 why is he interested?!).
It is one of my great ambitions to be able to do this and to become self sufficient(ish!) but plots of land in my area are expensive. My DH's brother and his wife want to do a self build too so if and when we are all in a position and find a plot of land large enough we will build two houses on it. Plots of land very rarely come up in our area and if they do they tend to be massive so we figured that this was the way to get the land. Buy it, split it 50/50 and then build!
DH shudders every time he hears the word self build, it's a kind of conditioning from what we've been doing for the last 10 yrs so all he hears is
SELF[/SIZE]Build!:rotfl: :rotfl: :rotfl: [/SIZE]