Mortgage Free in Three Yrs

minimoocow

Hi everyone!

Sorry I haven't been about much lately and I have yet to read all yoour posts to catch up on the news but just wanted to let you all know that we finally sold our nightmare BTL yesterday and paid £32,000 of our mortgage :j :j :j :j

This leaves approx £12k on our mortgage and we're hoping to get down to 4 figures after next payday!!!!! :beer:

Still can't quite believe the figures - we have gone from paying 2 mortgages to virtually nothing overnight!!!

I'll update more later as it has been an incredibly bumpy ride but right now I am off to have my hair done as I've not been in 6 months as it was one of those expenses I could live without while money was a bit tight!!!

MMC

angelavdavis

minimoocow wrote: »

Hi everyone!

Sorry I haven't been about much lately and I have yet to read all yoour posts to catch up on the news but just wanted to let you all know that we finally sold our nightmare BTL yesterday and paid £32,000 of our mortgage :j :j :j :j

This leaves approx £12k on our mortgage and we're hoping to get down to 4 figures after next payday!!!!! :beer:

Still can't quite believe the figures - we have gone from paying 2 mortgages to virtually nothing overnight!!!

I'll update more later as it has been an incredibly bumpy ride but right now I am off to have my hair done as I've not been in 6 months as it was one of those expenses I could live without while money was a bit tight!!!

MMC

Congrats on the sale, a great result for you after this time.

We are still clinging onto OH's sale going through!

minimoocow

I've now managed to catch up on all your posts . . .

Congrats to Shazzany . . . good to hear you are both doing well.

angelavdavis - I've got my fingers crossed for you as I know how fraught it can be. We orginally had our property on for £129,950 but reduced to £124,950 to get below stamp duty (we were originally advised to put it on at the higher figure with a view to accepting £125)

We had a couple of offers of £115k and eventually managed to secure a sale at £119,500 which included all the furniture in the property (it was let fully furnished).

Despite the mortgage being agreed and the valuation being ok, 3 weeks later the buyers came back saying they needed a damp survey which showed about £1k work was required. We agreed to meet them half way but they refused so we agreed to the full reduction on the basis that they exchange last Friday . . . they didn't . . . it all got very fraught - but in the end the money didn't make it to our solicitors on time for exchange. Finally however we managed to exchange on Monday and complete yesterday (and we stuck to the £1k reduction as it would have taken longer to go through)

Whilst I am confident that if we had stuck to our guns they would have gone through with it I didn't have the nerve in the end . . . is it worth you doing the same and offering a small reduction in order to bring the whole thing to a head?

MMC

setmefree2

Well Done Minimoocow:T:T:T:T:T

So jealous:cool:

angelavdavis

minimoocow wrote: »

I've now managed to catch up on all your posts . . .

Congrats to Shazzany . . . good to hear you are both doing well.

angelavdavis - I've got my fingers crossed for you as I know how fraught it can be. We orginally had our property on for £129,950 but reduced to £124,950 to get below stamp duty (we were originally advised to put it on at the higher figure with a view to accepting £125)

We had a couple of offers of £115k and eventually managed to secure a sale at £119,500 which included all the furniture in the property (it was let fully furnished).

Despite the mortgage being agreed and the valuation being ok, 3 weeks later the buyers came back saying they needed a damp survey which showed about £1k work was required. We agreed to meet them half way but they refused so we agreed to the full reduction on the basis that they exchange last Friday . . . they didn't . . . it all got very fraught - but in the end the money didn't make it to our solicitors on time for exchange. Finally however we managed to exchange on Monday and complete yesterday (and we stuck to the £1k reduction as it would have taken longer to go through)

Whilst I am confident that if we had stuck to our guns they would have gone through with it I didn't have the nerve in the end . . . is it worth you doing the same and offering a small reduction in order to bring the whole thing to a head?

MMC

Gosh how stressful, ours has been a similar story - we thought we had covered ourselves by asking them to put a surety to help ensure we exchanged when promised - still didn't work! Let's hope this time next week I will be reporting a sale. The house was originally on for £249995 and OH went down to £235,000 for these guys as they were ftbs - my poor OH won't end up with much profit from this house - in fact he is £25k down when you consider his mortgage payments!!!!

Desperate_Housewife_2-2

Just caught up with this thread!

Congratulations Shazzany! Hope you and the baby are doing well.

Well done Minnimoocow on your update, quite impressive!

Angelavdavis, hope your sale goes through ok.

I haven't got much of an update but am still banging away at the mortgage. My latest ploy is to open up bank accounts (through quidco) and move my little stoozepot around to make more money on the higher interest rate. I am seriously thinking about selling our second car, it will be a wrench as I love having the freedom but I sat down and worked out that it costs me £55 per month before I even go anywhere! I own it outright but the cost of insurance, tax, breakdown and service/mot costs makes it a real luxury. I am wondering if its the right thing to do as I know I will have real 'cold turkey'!

Hope everyone is ok and still on course cheerio DH

Kaz2904

Well I've just been on and updated my snowball as my balance transfer Egg CC is cleared tomorrow. Unfortunately it has worked out that it cost me £157.50 to do the ballance transfer.
I think that this is because I only got the money for 10 months (not sure what happened there?) and I couldn't shove it all in at once. So it didn't benefit me but cost me the BT fees- so now I'm :rolleyes: :mad: !
Never mind, it was worth a try and I still have a debt free date of 22/07/2013. I'm another payment closer to my goal and today was payday and my fridge and freezer are still full so didn't need shopping!

Saver_Raver

Desperate_Housewife wrote: »

Just caught up with this thread!

Congratulations Shazzany! Hope you and the baby are doing well.

Well done Minnimoocow on your update, quite impressive!

Angelavdavis, hope your sale goes through ok.

I haven't got much of an update but am still banging away at the mortgage. My latest ploy is to open up bank accounts (through quidco) and move my little stoozepot around to make more money on the higher interest rate. I am seriously thinking about selling our second car, it will be a wrench as I love having the freedom but I sat down and worked out that it costs me £55 per month before I even go anywhere! I own it outright but the cost of insurance, tax, breakdown and service/mot costs makes it a real luxury. I am wondering if its the right thing to do as I know I will have real 'cold turkey'!

Hope everyone is ok and still on course cheerio DH

Hi, just thought I'd give you some encouragement for the 'no second car'. I worked out mine was costing me £50 a month before I had put diesel in and to be honest was sat at the side of the road until the weekend so I bit the bullet and got rid.

I didn't really miss it, everytime my hubby and I went somewhere at the weekend he drove anyway (as he can't stand my driving - checky thing) and I communte by train to work. I have only recently invested in a cheep run around as I'm 8 months pregnant and walking everywhere was simply getting too much. All together I did 13 months without a second car and saved a small fortune.

So my advice is go for it!!!! (I also lost 1/2 stone because I was walking so much)!! :j

ailuro2

Anyone know why we're no longer a sticky?

jessicamb

Hi folks

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