Forever Home Fund

katep23

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

2nd February 2021
Mortgage £270,907.17
Capital paid off capital last month £1,462.81
Total paid off capital £75,687.83
LTV: 60.20

katep23

So next month we will be in the £260s and May 2022 we will be below 250k.  Considering we started at 1/3 of a million (scary!), 1/4 of a million sounds quite reasonable!

katep23

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

2nd March 2021
Mortgage £269,498.69
Capital paid off capital last month £1,408.48
Total paid off capital   £77,096.31
LTV: 59.89

katep23

So LTV is below 60% and we are in the £260s. 

October 2021 is next milestone to get into the £250s. 

Work continuing with house so no option for increase mortgage OPs at this time but we're still on track to be down to £137k when the current fix finishes in 7 years and should be mortgage free 7 years later.  I just need to figure out a way to pay off that £137k over the next 7 years and not need to remortgage!!

katep23

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

3rd August 2021
Mortgage £263,375.52
Capital paid off capital last month £941.70
Total paid off capital   £83,219.48
LTV: 58.53%

katep23

Been a while since I posted.  Sadly have temporarily reduced OPs to deal with some debt so amount being paid off has fallen so on track to get into £250s in December instead of October.  Hoping we can hammer this debt and increase OPs again at the start of next year.

katep23

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

4th October 2021
Mortgage £261,506.98
Capital paid off capital last month £926.02
Total paid off capital   £85,088.02
LTV: 58.11%

katep23

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

2nd November 2021
Mortgage £260,560.48
Capital paid off capital last month £946.50
Total paid off capital   £86.034.52
LTV: 57.9%

katep23

Cleared a big chunk of debt so hoping we can get it totally cleared in the new year and then get back to OPing.

Will be in the 250s next month!!!  Current forecast to be below 250 is November next year but if we can OP then that will come forward.  6 years left on fix and I really want it to be as low as possible by the time we need to remortgage. 

At present there is little chance of us clearing it but OPing £500 a month will reduce the balance from nearly £160k to £122k.  If I can OP £1,000 it would bring it down to £83k!  I would need to throw an extra £2,000 from now to completely clear it which isn't doable just now. 

katep23

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

2nd December 2021
Mortgage £259,630.34
Capital paid off capital last month £930.14
Total paid off capital   £86.964.66
LTV: 57.7%