Mortgage Free in Three Yrs

FreedomGirl

Hi,

Hope it all works out Overlandlandy with the break for freedom - that is just a bit too much business jargon for one human to take on a regular basis.

I'm just loving the "difference between contract and permie" definition posted a bit higher up in the thread.

Have a good Sunday, y'all

FG

OverlandLandy

ailuro2 wrote: »

Overlandlandy, I was reading about the Shell tanker strikers yesterday, they were reported to earn around £38K a year for a 45 hour week made up of 12 hour shifts.

That's a lot of money for sitting in a truck, such a shame it's got that [strike]bomb[/strike] tanker sitting on the back weighing you down...driving at 60mph or less everywhere.:eek:

Yip - thats what got me thinking about it.... I love driving (or riding my bike these days as well) I won my class in the Scottish Rally championship 3 years in a row and have done lots of adventurous things in my life and had big responsibilities (over 300 staff at one point and with another role I had a £4.5m budget to manage)....so the thought of 'taking it easy' driving a tanker with a hazardous cargo sort of appeals

The pay may not be as good as I have..but the £/hour would probably be better!

Right now I'm tring to hit my £1k eBay target....ie to clear out lots of stuff that I dont/wont use.....once I hit £1k i'm putting it in as a 'part redemption' against the mortgage.

I have also just sold my Historic Rally car for £3.5k .....but I cheated as I have already spent this money as I bought my BMW f650GS (but DD said its OK to do this as its a 'good investment' and much more fun than the mortgage:D....)

farhad1965

Whilst I am remortgaging in August (Woolwich to First Direct), I still have the opportunity now to pay off some of the outstanding balance.
So called up Woolwich and paid the maximum that I could without being penalised (£12,034.10), which takes the outstanding loan to £421,718.27.
The magic figure for me will be £399,999.99 on 17th August. That is the short term target.

angelavdavis

We are now getting to the bottom of the delays with the exchange. It appears that the estate agent and solicitors have failed to mention that the buyers are using a shared ownership mortgage as one of the buyers is a teacher and qualifies as an essential workforce category.

It turns out that someone couldn't do their sums and they are having to borrow more from the bank than they first anticipated.

Luckily, the bank are happy to loan more, but we are absolutely fuming it has only come to our attention now!!

I have to say, OH's solicitor has been lousy too - all she said today was "Oh, didn't you know??!!!"

ailuro2

No wunder owr kidz cant cownt and fings wen the teechers cant git it write!!

Angela- that's pretty awful, but at least now you know the reason behind the delay, and that it's nothing that will cost you any money this time. Fingers crossed it goes smoothly from now on...

AnW'sMum

I'd be asking for a reduction in the sols bill as they don't seem to have been doing their job in either keeping you informed or chasing the other side which is resulting in you having to pay interest for longer on that mortgage.

Dithering_Dad

Bit of a milestone reached today, I've gone past the £35k repaid barrier. Yay!

If I stopped overpaying my mortgage right now and let the mortgage run its course, I will still have saved £83,984.73 in interest (21 years at 6% interest rate).

While I was hoping to be quite a bit further along by this time when I first started the challenge, I'm really chuffed to have repaid 35k in 15 months. Only 3 months to go and we'll have reached the halfway mark of our challenge!

farhad1965

Dithering_Dad wrote: »

Bit of a milestone reached today, I've gone past the £35k repaid barrier. Yay!

If I stopped overpaying my mortgage right now and let the mortgage run its course, I will still have saved £83,984.73 in interest (21 years at 6% interest rate).

While I was hoping to be quite a bit further along by this time when I first started the challenge, I'm really chuffed to have repaid 35k in 15 months. Only 3 months to go and we'll have reached the halfway mark of our challenge!

:T well done, keep it up! :T

hughmungas1986

Well done DD :j

Just rang The Woolwich up for our latest balance and we've dropped under £ 42k, hoping to take another £ 4k off this year.

When are we updating again ?

hughmungas

TallGirl

Well done that is great news, also well done to DD that is some beating your mortgage has taken.

Update will be posted around the 15th July so get your PMs to me before then.