Mortgage Free in Three Yrs

Dithering_Dad

dang wrote: »

"I'm trying to set up a deposit account with them to hold my corporation tax at a higher rate and they're taking ages for the same reason."

Why dont you hold it in your offset account until its due?

Hi, I wish I could do this, but the money is the company's money and not mine, so I can't draw it out or I'll be in trouble with the Inland Revenue. You have to make sure the company is solvent and if there is no money in the company account, the corporation tax owed will mean that its balance is negative and so technically insolvent.

Hi everyone, sorry I haven't been in to update the details this weekend. I was in the UK visiting Mrs Dither and the Ditherettes. I only have 2 days to see them before I have to leave again so have very little internet time. I was up at my usual 3:45 this morning to fly to Norway and I'm knackered, so apologies if I have gotten anyone's details wrong. Just post on here or PM me with the correct info and I'll sort it out.

Welcome to all the new members!!

tigtag02

Well, upsetting Mr (or Mrs) HMRC is the last thing you wanna do

Hope you had a nice weekend with your gals - WB

Mushy61

I hope I'm eligible for this thread as I've only a small outstanding balance compared to most of you guys, here goes though.

I originally came on this site in September and my outstanding balance was £16,800 and until then paying off my mortgage wasn't no.1 priority. Now it is!
Since Sept. I've overpaid by £500 a month and balance is down to £12,500ish (redemption date Nov. 2013). I'm in the process of selling a weak performing endowment which will net £9,000 which I fully intend paying into my mortgage account and
with a bit of luck I maybe mortgage free hopefully before the year is out.

However, there is a chance I may be made redundant soon so I'm trying to get totally debt free before that happens.

chica_fi

D'oh, realised hadn't made very clear!! Three year aim - to have bought three / four bedroom house and be overpaying mortgage payments by at least 40% Thanks for adding me x

TallGirl

Afternoon all
Hope you enjoyed your wet and windy Bank Holiday Money. I was out playing in a golf match but we did not get wet. I have a family member from Denmark visiting me it is a very far out relation to me. Her mother and my grans mother were sisters not sure how that relates to me.

She is 73 and definitely a proper mortgage free woman. She still lives in the house she was born in and it was built by her granfather so she has never had a mortgage. She is impressed with what we are trying to do.

She is also a proper MSE her way of getting rid of airmiles that is about to expire was to go to Oslo and Stockholm for the day as the hotels were so expensive.

Anyway must go, great to see so many new members 37 is a lot. I think we should do a joint update maybe when we have done 3 months so all can see how far we have come. Maybe we can get DD to add our latest figures to the first post.

Take care all

tigtag02

I'll jump in as the saddo TG

She's your first cousin twice removed :)

tigtag (the amateur genealogist )

Dithering_Dad

TallGirl wrote: »

I think we should do a joint update maybe when we have done 3 months so all can see how far we have come. Maybe we can get DD to add our latest figures to the first post.

Hi TG, funnily enough I was also thinking of having an update page that listed the starting point and the to-date point - a bit like my signature. As you say, it'll be interesting and useful to see our progress as time goes by. I would struggle to fit it on the first post with the introduction and list of names/goals but though that maybe we could use your first post (the second post on the thread) for this?

dang

"Hi, I wish I could do this, but the money is the company's money and not mine, so I can't draw it out or I'll be in trouble with the Inland Revenue."

Unless my accountant is mistaken, you can take the money out, just make sure its back in to show on your year end statement - oh and back in for when you have to pay the bill ;-)

Could save you 100's over the next 3 years you never know you may have to change the challenge mortgage free in to 2 yrs 8 mths ;-)

comping_cat

Hello everyone,

Well, im sending £51.50 to my mortgage tomorrow, the first payment i can make this month (im hoping to pay more later on, bills depending!!!). I can do this now, because its my cancelled sky payment, plus ive cancelled my contact lens payment for 6 months so im sending that £8 as well!!!!

Its not much, but its something!!!!

tigtag02

well done catowen :T :T

every penny counts