Forever Home Fund

katep23

Getting sadly excited by the thought that it three months time my balance will be below £300k for the first time!

Still no official confirmation of pay rise so can't set up AVCs yet but will do as soon as it is confirmed in case they give us more than 2% (haha)!

katep23

December 2014
Mortgage £346,545.00
Mortgage free date 2044
LTV 86.64%

2nd April 2019
Mortgage: £302,872.63
Capital paid off capital last month: £1,356.63
Total paid off capital: £43,722.37

LTV: 67.31%

katep23

December 2014
Mortgage £346,545.00
Mortgage free date 2044
LTV 86.64%

2nd May 2019
Mortgage: £301,534.47
Capital paid off capital last month: £1,338.16
Total paid off capital: £45,060.53

LTV: 67.01%

katep23

December 2014
Mortgage £346,545.00
Mortgage free date 2044
LTV 86.64%

4th June 2019
Mortgage: £298,667.50
Capital paid off capital last month: £2,866.97
Total paid off capital: £47,927.50

LTV: 66.37%

katep23

katep23 wrote: »

Mortgage: £298,667.50

We're below £300K!!!!!

Slight mix up with the OP last month meant I OPd £1,500 instead of £300, oops :o!

But so excited that we're in the £200s

katep23

December 2014
Mortgage £346,545.00
Mortgage free date 2044
LTV 86.64%

2nd July 2019
Mortgage: £297,320.09
Capital paid off capital last month: £1,347.41
Total paid off capital: £49,274.91

LTV: 66.07%

katep23

So next month we will top £50k paid off the capital in less than 5 years, not bad considering our first mortgage had us paying back less than £500 per month off the capital!

We'll be in the £280s in January 2020, might need to set a mini target to make that December 2019.

shangaijimmy

£50k in 5 yrs is fantastic progress. It'll start snowballing soon as that daily interest keeps dropping. Well done.

katep23

Ooh yes, that's another milestone coming up - in November 2019 the daily interest will fall below £20.

Considering it was over £40 when we got our mortgage in January 2015 that's a pretty big relief!

And that's another challenge - a £300 OP will mean that daily interest would fall below £20 in October so a month early. Right - now to find a way to make that money to OP!

katep23

December 2014
Mortgage £346,545.00
Mortgage free date 2044
LTV 86.64%

2nd August 2019
Mortgage: £295,969.71
Capital paid off capital last month: £1,350.38
Total paid off capital: £50,625.29

LTV: 65.77%