Mortgage Free in Three Yrs

mojo_jojo

Question. I have a frozen stock & shares PEP mortgage plan (used before ISA mortgages came in) that has approx £1200 in it. Is it worth cashing this in an using it as overpayments for my mortgage or should I leave it alone? Only growing if the stock market grows, and only by a few pounds each year at most.

TallGirl

Just a quick note to say that I have tried to keep up with the payments people have been making and we have now paid off over £100.000 which is fantastic. I will do a proper chart update by the end of July as it seem lots of people ask to join and we never hear from them again. Hopefully that will get people to log back in and PM me their totals so we can see how well we are doing by 1st August 5 months in 31 months to go then. See 1st and 2nd post for more detials on how to join and get onto the chart.

I am doing quite OK myself, sold £20 worth of books on Amazon and £50 of clothes on Ebay so might pay that off the mortgage.

Kaz2904

You're doing well tallgirl!
I can't believe we're >100K that's unbelievable isn't it?
Lets hope that we get everyone logging in and updating their totals soon. I do my financial month from 22nd but am going to need to eke it out until the last day of the month soon I think because that's when my mortgage gets totalled up.
In fact, I ought to start it this month as I have about £40 cash which should last me until the end of the month. I need to stop fannying around too and get DH's savings accounts sorted so that we can start pulling in some real interest.
I have to say that it keeps getting bandied around about having more in savings and not paying off the mortgage but I feel more comfortable watching the figure going down each month. As you can see from my sig, we haven't done very well at not dipping into the savings recently!
We've more work to do to the house this year too which is going to cost us upwards of £700 I would think so I might be in dream land wanting to get my savings repaid by the end of the year. BUT, I am going to try and I'm going to do my best and as long as I can get DH to reign in his spending a little we'll get further!

ailuro2

woohoo! Just paid £4000 green ones into the mortgage from a old pep my DH had hung on to for a bit too long.

:j :j :j :j :j :j :j :j :j :j :j :j :j :j :j :j

It's few and far between having that kind of money for us to overpay, so I'm really really pleased

Kaz2904

Yay, go you ailuro!

Dithering_Dad

I have a shamefull admission. I went out and bought a 40" Sony LCD telly at the weekend. I did haggle them down £125, so got it for £875 instead of £1000 but it was still a completely mad purchase. Our old telly was 10 years old, but it was a nice 28" widescreen that worked OK and we had a set top box for freeview. OK the telly's colours were getting jaded and the set top box used to freeze all the time, but we could have "made do".

*hangdawg expression on face*

I have to say though that me and the eldest Dithering Daughter have now spent every evening this week sat next to each other on the kid's beanbags wading our way through Lord of the rings. It's been great!! YAYY!!!

*Ecstatic expression on face*

oops, sorry, this is supposed to be a shameful confession. Anywho, I feel bad for falling off the MFiT waggon and will work extra hard to make up for it. I won't let you guys down again!!

*hangdawg expression back on face*

FrugalNotTight_2

Well done you for bonding with the kids, enjoying yourself and not spending £5,000 on a plasma the size of your living room wall! :rotfl: :T

wisewoman

Well done, Ailuro. That must feel really good.

wisewoman

I suppose, when you feel guilty,DD, you should look upon it as an investment in your family...all cozied up together on the couch, enjoying some good TV or DVD. Enjoy.

lakes_saver25

Dithering_Dad wrote: »

I have a shamefull admission. I went out and bought a 40" Sony LCD telly at the weekend. I did haggle them down £125, so got it for £875

Dont worry - I did exactly the same in the boxing day sales. Got a 42 inch plasma. Took me the last 6 months to pay off (interest free of course) - your TV is something you use everyday. Everyone deserves a treat!!:j