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Wanna be mortgage free!
Comments
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If it's not too late, I'd suggest you reconsider a mortgage where overpayments are limited to only 10%. Once you get going on a mortgage it can be paid off surprisingly quickly if unlimited overpayments are allowed. I paid off my first (25 year) mortgage in 7 years. Several years later on a different property another (20 year) mortgage paid off in 5.0
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bristol_pilot wrote: »If it's not too late, I'd suggest you reconsider a mortgage where overpayments are limited to only 10%. Once you get going on a mortgage it can be paid off surprisingly quickly if unlimited overpayments are allowed. I paid off my first (25 year) mortgage in 7 years. Several years later on a different property another (20 year) mortgage paid off in 5.
It will only be limited to 10% during the fixed-term, and we have no real concern about being in a position to overpay more than that during the fix.
So for us, not an issue. We'd currently rather have the security of the fix.0 -
Well contacted the sellers EA today (e-mail) as we've not heard from them in over 2 weeks (they said they would update us weekly!)
- I assume not hearing from them/not getting a response is not good news!
I just wish they'd hurry up and find something...0 -
Well, still no progress on the house we had the offer accepted on last November.
For the last few weeks we have been viewing properties - we made an offer on one on Wednesday, it was rejected, and we've upped it to our final offer on Thursday. The EA has said that they have received another offer equal to ours. We have made it clear that we're not prepared to offer more (we don't think it is worth it), but are hoping our FTB position will help as we have no where to sell. We have been advised we will find out today if they accept the offer or not.
Unlike the other house, it is not likely to be our forever home, but it is definitely the more practical and cheaper option, so fingers crossed, and could still be our home for many years.
Fingers crossed please,
D90 -
Still no news from our vendors!0
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Well out vendors finally pulled out.
First they asked for an additional £25,000 which we couldn't provide and then they pulled out.
Looks like my mortgage free journey is even further way now. Oh well, at least we can increase the deposit.
D90
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