Almost Debt Free, Now a MFW :)

fairyclicks

Right then i have sorted out a few things re mortgage

I can make overpayments without any penalty

I am currently on a variable rate of 1.5%

my arrears during the debt days would not affect me being able to change mortages etc should i want to at any point.

My current mortgage balance outstanding is £60377.43

I am currently paying £260 per month off the capital


Glad to get these details all sorted - now i can make a start on making extra payments

fairyclicks

I can't believe i am wishing it was pay day so i can pay my mortgage LOL! Am hoping i can pay enough off it to get it out of the 60,000's and into the 50's I should have but need to wait and make sure! After that i would like to aim for an extra payment of £100 a month off it if possible Am also planning on putting a payment away into an emergency pot as well as still paying off the debts. It doesn't seem like much of a payment off 60,000 odds but am sure it will all start to add up and make a difference in the end

fothers365

Congratulations, what a fantastic achievement you have made in a short space of time. Good luck with the mortgage next!:)

kmcld2

Wow - that is some accomplishment. Very well done! I'll be looking forward to reading your posts to see how you are getting on (and reading your old ones to see how you did it!)

fairyclicks

fothers365 wrote: »

Congratulations, what a fantastic achievement you have made in a short space of time. Good luck with the mortgage next!:)

kmcld2 wrote: »

Wow - that is some accomplishment. Very well done! I'll be looking forward to reading your posts to see how you are getting on (and reading your old ones to see how you did it!)

Thanks so much guys and i can't wait to get stuck into the mortgage payments and building up the emergency pot (have £5000 target for that in my head)

With my debts i basically got all of them frozen with no interest being added via cccs (stepchange now) and used online earning like surveys etc to pay them each month as i didn't even have enough income to live on when i lost my job for health reasons let alone repay debts. I fought and fought to get ESA and DLA which i eventually managed to win and got some back payments from them which i used to negotiate final settlements with for some of my debts. i also had an endowment policy i started when i was 18 which i cashed in recently because i had fallen behind with payments on that as well and used this to negotiate with too - some of my debt accounts accepted 30% of my balance and some accepted 40%. I am now left with 2 debts (both still at 0%) which i am now also negotiating with and hope to clear very shortly

Now my income actually covers my living costs (income increased and i reduced my costs as much as possible) and now i continue to use the skills learned to make a little extra cash so i can work on the mortgage and savings pot Its been extremely hard work but definitely worth the effort as i feel like i have turned my life around completely :cool:

I still feel quite amazed that i am 'on the other side' now if you know what i mean :rotfl::rotfl: but determined to keep the head down and keep forging ahead

Thistlewhistle

Wow Fairyclicks, you're an inspiration! I'm definitely going to subscribe to your thread so I can follow your progress. You've made me want to gen up on all these online money saving things. Might struggle for time though!!!
Thistle

fairyclicks

Aw thanks Thistle for me online earning was a saviour and probably the only option i had because of my health problems. I spent a lot of time checking out different sites etc and even started a blog about them they do tend to take a bit of time and effort but i can certainly point you in the right direction if you choose to try some yourself!!

Today i am very excited to say i have made my first ever overpayment on my mortgage i paid an extra £30.50 off it I have also added £10 to my zopa account for the first time in years. These extra payments were made purely with earnings from one website this month - i have received £45 from SB so far and have just claimed another £10 from it today

I am still hoping to make £100 overpayment off the mortgage this month but am just being cautious - i want to make sure i have everything else paid first

I think i have my calculations right and my mortgage balance is now £60,086.93! am determined it will be starting with a 5 by the end of the month

Thistlewhistle

Go girl go!!!!

usa1

Well done, its a good feeling paying debts down..

ajmoney

Wow, you are an inspiration to all of us on here and I actually feel ashamed that you have managed to get where you are while Mr AJM and I earn a lot and don't quite do things in the same way. You have come such a long way already and I have no doubt you will achieve MF status too. I will watch your thread with interest and hopefully learn something along the way that will help us.