Marcus' mortgage mission

marcushenry

Hi fellow MFWs

We currently have £102,547 remaining on our mortgage, we have 20 years to run and are currently paying back £664.93 per month on our fixed rate mortgage.

Thanksfully we have no other debts at the moment so we've decided to try and pay the mortgage off as quick as we can to get mortgage free and hopefully save thousands on interest in the process

David_B_2

marcushenry wrote: »

Hi fellow MFWs

Thanksfully we have no other debts at the moment so we've decided to try and pay the mortgage off as quick as we can to get mortgage free and hopefully save thousands on interest in the process

Makes since whilst you can afford to do it. Even if don't go all the way, as you say you'll save thousands in interest.

Good luck and welcome on board!

We have another MFW! (mortgage free wannabe)

marcushenry

David_B wrote: »

Makes since whilst you can afford to do it. Even if don't go all the way, as you say you'll save thousands in interest.

Good luck and welcome on board!

We have another MFW! (mortgage free wannabe)

Cheers for the welcome David B, our main priority is too move to a flexible mortgage that allows overpayments, our fixed rate deal will be ending in about 5 months so we will have to move before getting stuck on the SVR.

We have some spare cash for a small overpayment each month so our other main objective is to learn all about saving money in other areas to increase our overpayments. From what I've seen lurking around this forum there is plently for us to get our teeth into :j

md_14uk

Good luck!

David_B_2

marcushenry wrote: »

We have some spare cash for a small overpayment each month so our other main objective is to learn all about saving money in other areas to increase our overpayments. From what I've seen lurking around this forum there is plently for us to get our teeth into :j

Oh yes, you have certainly come to the right place.

Ive never looked back since I joined in January 2006. Soon you'll be saying "If only I found this web site 12 months ago" like everybody else

Lotta_Littlies

Good luck and welcome!

Lotta

Mushy61

Welcome Marcus,

Yep , once the overpaying bug bites it really takes hold.

I realise you won't pay your mortgage off in three years but set yourself a target and join us on the 'Mortgage free in three years' thread at the top of the page.

angelavdavis

Welcome Marcus and good luck with the challenge,

I have joined the 3 year challenge as I am earning well over my usual salary and thought I would make the most of it.

Spent a while throwing all my extra money at the mortgage a few years ago but my ex-husband took half the house equity with him when we divorced!

Now the house is just in my name so I am safe!