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I will be MF, I will be MF! <3

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carla_004
carla_004 Posts: 48 Forumite
edited 6 February 2014 at 8:29PM in Mortgage-free wannabe
I'm going to start a little diary of my own :D

Mortgage is £74,065 over 25 years.
Interest fixed 2 years is 6.29% - calculated daily.
Monthly repayments are £487.23

Overpayment without penalty is 10% per year so this year £7406, I would aim for this but I only really earn about that much a year :rotfl:

Hoping to make £250-£300 in overpayments each month from me (and see what partner will contribute).

This month (Jan 2013) I have paid an extra £900 in overpayments :T
This is a one off, most of it's from savings ...

I also have some money in my paypal and £94 in money box to add this month.

I'm quite a good saver, I push myself to achieve things so reeeeeally hoping to get this mortgage out the way in under 10 years (secretly aiming for 8).

On a little side note I used coupons on the monthly shop and saved £40!!! last week, every little helps :beer:
Mortgage
1st November 2012 - £74,065
10th August 2014 - Approx £64,750
Overpayments
£6380
«1

Comments

  • Kodagirl
    Kodagirl Posts: 136 Forumite
    Tenth Anniversary Combo Breaker
    Hi,Carla,
    Welcome on board,i get the impression your slightly addicted to this O/P malarky already,... like me!!!!:D

    Well done,i hope you have kept some of your savings back,though for one of those little rainy days,although im only down to £250,currently,due to having to splash out on a blimin washing machine!!:(
    Goodluck on your mission!!! :)
    Total Mortgage amount borrowed
    £129,176.55 Dmr 2005/ £90,485.00 :(
    Current savings £3000:T
  • :wave:Morning carla,
    That's a fantastic start. We're on similar figures, but have chosen to reduce the term from 20 years to 10. It means I don't have any option and HAVE to make those overpayments :)
    Good luck, I think you'll have it cracked in under 10.
  • carla_004
    carla_004 Posts: 48 Forumite
    edited 26 January 2013 at 12:29AM
    Kodagirl wrote: »
    Hi,Carla,
    Welcome on board,i get the impression your slightly addicted to this O/P malarky already,... like me!!!!:D

    Well done,i hope you have kept some of your savings back,though for one of those little rainy days,although im only down to £250,currently,due to having to splash out on a blimin washing machine!!:(
    Goodluck on your mission!!! :)

    Hiya!

    Very, it's seeing how much money I will save on interest that I love haha :D

    Oh yeah I've got some behind still, I'm gona try and build up a '6 months work' worth of savings ... just in case. OH isn't very good with money so I need to be :o

    Damn washing machines ... they're always the thing that breaks lol

    x x

    :wave:Morning carla,
    That's a fantastic start. We're on similar figures, but have chosen to reduce the term from 20 years to 10. It means I don't have any option and HAVE to make those overpayments :)
    Good luck, I think you'll have it cracked in under 10.

    Thanks hun,

    Ohh we should have a race! Spur us on even more lol

    x x
    Mortgage
    1st November 2012 - £74,065
    10th August 2014 - Approx £64,750
    Overpayments
    £6380
  • This week I've done about 9 hours overtime, not much but every little!
    I've got feeling this diary is going to be full of that little line ... anyone would think i work for Tesco! :lol:
    Mortgage
    1st November 2012 - £74,065
    10th August 2014 - Approx £64,750
    Overpayments
    £6380
  • Busted open and 'unopenable' money box (for house deposit) and had found I'd saved £94, that plus £70 I've raided from my Paypal account selling stuff on ebay and tomo will make another overpayment of £170 :beer:

    *might as well add the £6 to the £94!
    Mortgage
    1st November 2012 - £74,065
    10th August 2014 - Approx £64,750
    Overpayments
    £6380
  • Well done so far. good luck
    Morgage till Nov 30 GOAL MFW Sept 2016
    Aug 11 - £100k Aug 2016.... It's GONE!!!!!
    2014 GOAL HIT 5 Stone! 2016 GOAL to be a MF marathon runner.
    "A goal without a plan is just a wish"
  • Thanks = )

    :beer:
    Mortgage
    1st November 2012 - £74,065
    10th August 2014 - Approx £64,750
    Overpayments
    £6380
  • Could anyone explain how to make n excel spreadsheet? = )
    As if to a 5 year old ... haha

    x x
    Mortgage
    1st November 2012 - £74,065
    10th August 2014 - Approx £64,750
    Overpayments
    £6380
  • catshark88
    catshark88 Posts: 1,099 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Mortgage-free Glee!
    Can't help re spreadsheets, but welcome!

    There is so much support and advice on here, it's great. Lots of tips over in Ols style too.

    Cs
    "Have nothing in your houses that you do not know to be useful, or believe to be beautiful." William Morris
  • Kodagirl
    Kodagirl Posts: 136 Forumite
    Tenth Anniversary Combo Breaker
    Hi,Carla_04!!
    Hope your well,love it,busting into your money box,thats what im using for my loan fund,its great,i struggle to get me money out too,im using that to pay my loan off.

    Explain,excel spreadsheet,as if to a 5 years old!!! lol Well your better than me,i would ask,explain it to a 5 mth old!!!

    Keep up the good work!!! :-)
    Total Mortgage amount borrowed
    £129,176.55 Dmr 2005/ £90,485.00 :(
    Current savings £3000:T
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