Sundaysgirl's MFW journey - better late than never!

hiddenshadow

Very nice! Hope the move/new mortgage process goes smoothly.

Sundaysgirl

Thanks hiddenshadow! Lots of change in our lives at the mo.

chelseablue

Just had a read of your diary and Wow! what an impressive journey!


Curious to know how big your new mortgage will be? (I bet its not as big as mine hehe)

Sundaysgirl

Thanks chelseablue! Just looked at my OP and realised that I have knocked almost £80k off the mortgage in 3 years and 2 months, and slashed my MF target by 6 years

New mortgage will be £215k, 8 year term but looking to pay it off within 5 all being well as the new house will be a joint purchase with my DH. Large compared to some on here but we were originally looking at more expensive "forever" homes and a £425k mortgage but just couldn't find one we loved - so we are moving to a bit of a compromise house - lovely nonetheless and much improved on our current home in many aspects - with the aim of building our equity in the short-term and moving again in say 5-10 years.


What level is your mortgage, and do you have a diary?

chelseablue

Yes here's my diary https://forums.moneysavingexpert.com/discussion/5415368


We only moved to our house in Feb and started off with a balance of £231,000


Currently its £228,700 but I want to start overpaying every month from now (only OP'd in 2 months so far)


Paying off 215k in 5 years is super impressive, can I be nosy and ask what jobs you both do?

Sundaysgirl

Thanks - subscribed! Will catch up when I have a chance.


Regular OPs make such a big difference, I know everyone says this but the small amounts (even odd few pounds here and there) have a massive impact, both on the balance and on the MF mindset. Good luck with your journey!


Be as nosy as you like We're both accountants by trade and are lucky to be pretty senior in our roles so bring home good money - and have no children or expensive hobbies (apart from travel. LOTS of holidays!). We're in the SE too (and same age as you so missed out on a lot of the good years in the market) so feel your pain at house costs!

hiddenshadow

£215k in 5 years sounds brilliant - I'll be eagerly following along to see how the new mortgage goes!

If we stay on track with our OPs the rest of this year we'll have knocked just over £77k off our mortgage in 3 years, so pretty similar to you. We'll still be 6 figures away from your current balance though!

Sundaysgirl

£5.22 £co payout sent as an OP today. Pay day tomorrow :j

Sundaysgirl

£2,250 OP made yesterday, I've restricted this slightly as we're off on our holidays and it's DH's birthday next week so an expensive month! Hoping to be able to do a top up in a few weeks.


Mortgage at £11,520.66 - I'd like to get this to £10,500 before next payday, which means a further OP of ~£305 after the standard mortgage payment comes out...

chelseablue

Very well done!


I can only dream of having a mortgage of £11,000