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Thrifty Pixie's MFW Journey Begins
Thrifty_Pixie
Posts: 1,036 Forumite
decided to delete this thread as i no longer have the time for multiple threads.
Mortgage-Free Wannabe
Mortgage at start [20/6/12]: £151,800/MFD Jun 2035 (age 65)
Mortgage now [5/11/14]: £139,212.14/MFD Oct 2029 (age 59)
Personal Library 2014
:starmod: Read in 2014: 57/60 :starmod: In Progress: 2 :starmod: Books In: 94 :starmod: Books Out: 12 :starmod: TBR: 847 :starmod:
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Comments
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Hi Thrifty Pixie :wave:
Well done for starting a diary. I find that posting often (even if it's mainly drivel) keeps me motivated.
Good luck for the journey.
Starting again 13/4/19Home loan 1: £21,102.50 Home loan 2: £7,698.99Total owed: £28,801.49
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Welcome... keep posting to keep your thoughts on overpayments,,
Good luck..£176,000 January 20140 -
deleted postMortgage-Free WannabeMortgage at start [20/6/12]: £151,800/MFD Jun 2035 (age 65)Mortgage now [5/11/14]: £139,212.14/MFD Oct 2029 (age 59)Personal Library 2014:starmod: Read in 2014: 57/60 :starmod: In Progress: 2 :starmod: Books In: 94 :starmod: Books Out: 12 :starmod: TBR: 847 :starmod:0
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deleted postMortgage-Free WannabeMortgage at start [20/6/12]: £151,800/MFD Jun 2035 (age 65)Mortgage now [5/11/14]: £139,212.14/MFD Oct 2029 (age 59)Personal Library 2014:starmod: Read in 2014: 57/60 :starmod: In Progress: 2 :starmod: Books In: 94 :starmod: Books Out: 12 :starmod: TBR: 847 :starmod:0
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deleted postMortgage-Free WannabeMortgage at start [20/6/12]: £151,800/MFD Jun 2035 (age 65)Mortgage now [5/11/14]: £139,212.14/MFD Oct 2029 (age 59)Personal Library 2014:starmod: Read in 2014: 57/60 :starmod: In Progress: 2 :starmod: Books In: 94 :starmod: Books Out: 12 :starmod: TBR: 847 :starmod:0
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Hi Pixie, and welcome to MFW.
Just to confirm your calculations.....even without taking into account your fairly sizeable offset amount, if you can overpay by £500 per month you would indeed be mortgage free within 10 years.
What a great achievement that would be.....let's hope you can make it a reality
I must say I hadn't calculated my own potential MF date based on current situation because we are planning on building an extension in a couple of years time which will mean drawing money back out of our offset mortgage but you have awakened my curiosity.......if we didn't do the extension and could carry on at our current level of overpayments we would be MF by the end of 2021. Assuming the interest rate doesn't rise (on a base rate tracker). Which it will.
Good luck to us all I guess.Mortgage 1 Oct 11 - £118k @ 1.29%(BR+0.79) July 14 £118k
Mortgage 2 Oct 11 - £17k @ 3.19%(BR+2.69) July 14 £3k (£0 after offsetting)
Mortgage total Oct 11 - £135k July 14 £121k (£118k)
Reg Savers (6%) - July 14 £5.1k
ISAs - £0.6k
Santander 123 Acc (3%) - £5k0 -
deleted postMortgage-Free WannabeMortgage at start [20/6/12]: £151,800/MFD Jun 2035 (age 65)Mortgage now [5/11/14]: £139,212.14/MFD Oct 2029 (age 59)Personal Library 2014:starmod: Read in 2014: 57/60 :starmod: In Progress: 2 :starmod: Books In: 94 :starmod: Books Out: 12 :starmod: TBR: 847 :starmod:0
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deleted postMortgage-Free WannabeMortgage at start [20/6/12]: £151,800/MFD Jun 2035 (age 65)Mortgage now [5/11/14]: £139,212.14/MFD Oct 2029 (age 59)Personal Library 2014:starmod: Read in 2014: 57/60 :starmod: In Progress: 2 :starmod: Books In: 94 :starmod: Books Out: 12 :starmod: TBR: 847 :starmod:0
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Congratulations on your first OP!
:T:T:T:TStarting again 13/4/19Home loan 1: £21,102.50 Home loan 2: £7,698.99Total owed: £28,801.49
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deleted postMortgage-Free WannabeMortgage at start [20/6/12]: £151,800/MFD Jun 2035 (age 65)Mortgage now [5/11/14]: £139,212.14/MFD Oct 2029 (age 59)Personal Library 2014:starmod: Read in 2014: 57/60 :starmod: In Progress: 2 :starmod: Books In: 94 :starmod: Books Out: 12 :starmod: TBR: 847 :starmod:0
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