This Time I'm Really Going To Do It

Craig321

Hi Wally,

Im looking at this in a different light to overcomethe penalties on my mortgage. I also want to pay off my mortgage early but canonly overpay by 10% per financial year so when my mortgage when onto variablerate and I wanted to overpay more than 10% I decreased the term of the mortgageto increase the contractual payments on a new mortgage deal this then allows meto still overpay within my 10% limits, and still getting a better interest rate, savethousands in interest with getting a new deal!

I’ve managed toreduce my term from 13 years to 5 years (with overpayment to 3.5years!)

It’s an amazingfeeling to know that I’ll be mortgage free in just 3 and a half years, thewhole idea came from poor interest rate on the saving accounts or Isa’s, andhow to best to make my money work as hard as it can.

Hope that its of somehelp? No point lining the fat cats pockets is there!

Alchemilla

Hope funeral not too awful.

Watty1

Thanks Craig 321. Shortening the term was not an option for me but I can see can work for some people.

Funeral went off ok. Was very appropriate. Nice gathering and everyone being very brave.

Todays joy dot was a lovely bunch of roses delivered as a thank you from the charity I have been helping out. Such a lovely surprise.

And a nice hack with Handsome baby and sensible friend down the road.

All in all a good day.

EchoDelta

Glad that the funeral went well.

Lovely to receive the flowers.

Your figures continue to inspire!

Alchemilla

Watty that is some progress.

Habibiboo

:j

Go Watty!

(You have to imagine theme tune of Black Beauty playing in the background to get the full intended sentiment from above words btw ~ a tune very appropriately named "Galloping Home", I do believe)!

Watty1

Thanks for the lovely comments. Habibiboo you are right - that is indeed the name - I just checked on You Tube and have a very rock version playing - I never remember it like that :rotfl: Yikes its so awful, hang on, ahhh that's better. The real version playing now!


Been away from internet. Had office computers changed, new hardware and new software. Minimum disturbance the man said when he arrived on Wednesday. He lied..... Nothing works properly and he was here Friday night till quarter past midnight. Back Tuesday to sort out major hiccups.


At last got enough working to spend a bank holiday in office. Tired. Lack of sleep. Yikes!!


Only plus is there is major decluttering going on in office. Not posting all the details but for the first time in many months many spiders have been evicted and lots of the floor can be seen!

Watty1

Just updated signature. Don't think there will be much more to save or overpay over the next few months thanks to major investment in company with computers etc but delighted to see I have actually halved the mortgage since I've been at this. I know the huge overpayments are mostly due to the endowment and selling shares and reorganising savings but delighted to see how it all works


Thank you diary - and - those of you that are here too sharing the journey. I don't think I'd have stuck at it without this board.

Alchemilla

it is most enjoyable to read. X

Habibiboo

:wave:

Whoah there, a rock pony version of Galloping Home? Will have to find me that next time Mr. Hbbb is out of range (he already suspects I'm a little special, but I don't want him to realise it's true just yet )

Halving the mortgage is a major success, Watty, you are indeed on the home straight now! x