Mort's mortgage muzzling mission

MortMort Forumite
552 Posts
Part of the Furniture 500 Posts Photogenic Combo Breaker
The Mortgage.
Mortgage balance £21,230, approximately 12 years to run on a repayment basis.

About us.
I am 53 and in full time work, Mrs. Mort is younger and has been out of work for a long time because of depression. My job is currently steady but in about 18 months when a current project is set to deliver I may possibly have to compete for my job again. This is not new as it has happened 3 times since 2007 but I am getting older.
We have had a rocky financial past and finished a Debt Management Plan in November 2011 :D. This mortgage is actually the remnant of the last failed consolidation attempt (first time I have admitted to that in type :o).

Since finishing the DMP we have been treading water to a certain extent, catching up on some house repair work, replacing items and having some treats.

The goal.
It's now time to address the mortgage. In the past we have twice seen the benefits of overpaying a mortgage so this is not entirely new to us. Overpayments have started at an easy £50 PCM which according to the MSE calculator will shave 3 years from the term. My aim is to get to £150 PCM fairly soon which should reduce the term to around 6 years. Higher payments should be attainable but Mrs. Mort will need convincing.
Proud to have dealt with my debts, became debt free on 03/11/2011. Repaid £54,723.41 LBM May 2006.
Debt Free Roll Of Honour #504
Mortgage Free from October 2019


  • giblet1979giblet1979 Forumite
    864 Posts
    Eighth Anniversary Combo Breaker
    Lots of luck with the overpayments - I look forward to hearing more

    Gib x
    Debt remaining: :(
    Mortgage - £117,759 (£134,600, Nov 2013)

    Work overpayment and home improvement loan paid back (£19200) :beer:

  • jodles16jodles16 Forumite
    1.5K Posts
    Car Insurance Carver!
    Hello! Sounds like you have already done really well!

    Good luck with the overpayments, every little helps!

    Jodles :j
    MFW2020 #115 250/3000 J-250
    1% challenge- /1525
    Save 1k in 2020- /3000

    Joining in UberFrugalMonthChallenge set up by the Frugalwoods!
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