Mortgage Free in Three Yrs

I,_Brian

Thanks for the comment - will look for the thread.

1274

Just got my annual mortgage statement for this year and it makes great reading.

From Aug 06-07 my total payments (capital + interest) were £33K, with £19K in the overpayment fund. From Aug 07-08 my total payments were £108K, with £112K in the overpayment fund. Interest-wise, my interest at the end of the 06-07 statement was £776/month, and my interest at the end of the 08 to 09 statement is £204/month which is a great reduction.

Also want to put in a shout for the overpayment calculators in the sticky. The one I'm using shows that my mortgage - overpayment in Aug 08 should be £40,077, and it's actually £40,111 now so not too far off at all especially given that neither my calculator nor my statement show what date in August they're working to

Desperate_Housewife_2-2

minimoocow wrote: »

Hi everyone!

I've got my figures for July now - been on hols so a bit late but it fills the mid month void and pushes us to the top of the board again!

As you can see under £10k for the first time.

If we can manage to pay off £1,250 a month (which we won't be doing this month due to hols) we should get rid completely by Feb 09!

MMC

:beer: A big well done from me! minimoocow

I haven't been here for a while due to becoming obsessed with my new kitchen gadget (a remoska from lakeland) and been posting on OS board a lot. My defence is that it is energy saving and hence an aid to mortgage paying off!

Our balance is £21k and I am gagging to get below £20k. Had a lot of temptations to spend this month and not much work (I'm freelance) so not a good combination. Work should pick up in September though so I have had a rest and will concentrate on MFIT now.

I have managed to save some money every month for xmas and January food shopping which I find can put you back so I'm going to have a sensible xmas and not blow the budget. Hols didn't cost much due to staying in the Uk this year.

Keep up the good work everyone, while you are going forwards you are not going backwards so its still good even if its a little. Yes, it's hard at times and we've all experienced dips but its a marathon, not a sprint and I keep telling myself that.

benbenandme

Been and paid 1000.00 off the mortgage today :beer:

andrinaperry

We would like to clear our mortgae arrears, does that count?

A

farhad1965

Good morning all!

I have been away for a couple of months, concentrating on the new contract. At long last got a contract with a bank in the City.

But the big news is I got my remortgage through, although it did take First Direct a whole 5 days to draw down the money and pay off the Woolwich.

Now down to £399,800 from 420,000 before the remortgage. Although I am up from 4.99 to 5.25% fixed for 2 years.

TallGirl

Quick update from me and a well done to everyone you has posted their updates. It is so nice the thread can keep going and lovely to read all the posts.

Finally got my Danish money converted to £. I got almost 10 to 1 so not too bad. That means I have some more money in the offset although that money is strictly speaking my mums but she has said I can have all the interest. I am going to fill up my new NatWest Account to get the free £50 so that will be a nice little earner.

We have still not had a bill for the wetroom but I fear it will be a lot. It looks stunning and I am so pleased with it but we did change a few things which will add more to the billl. Like having a fully tiled room instead of half tiled and a few other bits and bobs. It is going to be hard to stay on track with the MFi3 but I hope I wont need to borrow off the mortgage. We shall wait and see.

I could use my MB profits but if I do I shall have nothing to the offers with so that is not such a good idea. Shame bookies don't pay you interest on the money tied up with them. Made a few mistakes on a couple of casino offers so will stear clear of them now. Not worth the risk.

Don't forget the next chart is 1st October so feel free to send me updates even now. I know many of you only get statements every quarter.

FreedomGirl

Andrinaperry,

Pop over to the 2008 MFW thread, as the MFIT challenge is over half way over. They're quite flexible as to what targets you set so clearing off the arrears should be fine

HTH

FG

FG

AnW'sMum

Hi Guys

Some great updates and quite a few barriers broken, well done to you all. Where have these school holidays gone, it doesn't seem two minutes since they broke up!

For those hitting a slump at the moment remember that if you hadn't made any overpayments then you would owe more than you do now, so any amount large or small is a step in the right direction

So seeing as we will soon be moving into the second half of the challenge perhaps we should start discussing location for the MFiT party

ailuro2

Party in Dundee?:D

It's a beautiful city, plenty of cheap places to stay, without the high food/drink prices like you'd get in London and Edinburgh :beer:

Great transport links too!

And just a few miles from me!!:p
Wanted to say- it's only a week till the end of the month when most of us pay our mortgages - so we've got time to raid the piggy bank and scrape a few pounds together for an overpayment.