mortgage free by 30

gracam1001

Hi
I set myself the goal of being mortgage free by the time I am 30. I just turned 23 so that gives me 7 years to do it.

my current mortgage is 37750 over 25 years

I will be remortgaging to 45000 to raise some money to renovate the house (this will only cost an extra 10 pound per month ontop of what i currently pay due to the better rate).

Once the work is completed we intend to make 10% overpayments which will allow us to be mortgage free in 7 years.

So let the MF battle commence

[Deleted User]

It sounds like you have a well thought out plan in place!

Good luck with it.

D9

YoungBusinessman

Good luck, i orignially set out to do the same, just bought somewhere and im 21. Yet i cant help but think once i get a low LTV i will be better off using the money elsewhere so i doubt il be mortgage free anytime soon!

snooker147

im sure you will manage it,im 37 and paid off my mortgage at age 30,august 22nd 2005 was the golden day lol,we used all our overtime payments and made some sacrifices to generate the cash and never looked back.its a great feeling and frees up revenue for other things,good luck and enjoy being mortgage free when the time comes.A good tip is when you are free of debt keep on saving the way you are now,we did and in those 7 years we have now £65000in cash