Can i join your club???

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  • dano17439
    dano17439 Posts: 366
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    Brilliant thread dank, enjoyed reading it, your so close now!
    I managed to shave off 8 years of my term by overpaying.
    I used savings yesterday to make an overpayment of £21,500 which has brought me down to £58,500 owed to the bank. It's a great physiological barrier to get under 60k when the amount borrowed 9 years ago was 195k.
    I'm hoping to make another 10k overpayment in August and then jump onto a 2 year fixed rate. I'm aiming for 4 years to be MF. ��



    Thank you for the kind words. I do consider us to be extremely lucky that we are in the position to overpay/save such a large amount every month, and I'm sure they'll be lots of people who read my thread who don't think its brilliant lol, but I mainly post a monthly update for also my benefit so I can read back.


    We have such wild dreams about what our life will be like being mortgage free, it sometimes seems not true and we can't believe the day will come sometimes. Hopefully i'll refer back to this post in a years time when (hopefully) we only owe say 10k, and won't believe how quick that year has gone
  • dano17439
    dano17439 Posts: 366
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    Happy July everyone, and happy mortgage payment day!


    The savings went really well in June....all in we managed to bank £2,250 which we are well pleased about


    We also transferred the standard £1,750 on payday (last Friday, and the mortgage payment today takes the NET balance down to a smidge over 37K owed.


    However I think July is going to be a loooooong month.....its a 5 weekender and we have loads planned socially, and also my wifes car insurance is due on the 11th. I got a feeling we may have to dip into the savings at the back end of the month. Lets see how it goes!
  • dano17439
    dano17439 Posts: 366
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    Wow well what a month July was....long and expensive!


    We got up to so much that we wouldn't normally do which included


    Weekend away in Whitstable
    Weekend away in the Yorkshire Dales
    Newmarket Races
    3 decent meals out
    Daughters Netball presentation
    Mrs Dano's car insurance
    3 rounds of golf plus drinks after
    Shopping for holiday......my daughter realised that all her clothes from last year were to small for her :-s


    But the great news is that we only went £150 into our overdraft, which was cleared yesterday on payday!


    So that means another £1,750 a saved today towards the mortgage, meaning NET amount owed is approx. 34k as at today


    Looking forward to this August though....holiday in 8 days time for a week of R&R all inclusive in the Canaries, and my birthday in 11 days (44 eeeeek)
  • beanielou
    beanielou Posts: 89,362
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    Great news on the OD.
    Oh to be 44 again!
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing [email protected]. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.

    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • dano17439
    dano17439 Posts: 366
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    beanielou wrote: »
    Great news on the OD.
    Oh to be 44 again!


    lol I hate being in my 40's. I've never had so many health issues.....nothing major but aches and pains here and there which have no reason behind them. I have to be conscious now of everything I do, and always think should I "warm up" before I do something strenuous ha ha


    I am Type 2 diabetic so I have to keep an eye on my weight and exercise routine.....6"4 and 14.5 stone so all OK currently and do keep my self healthy by jogging and going to the gym, so if I didn't god knows how many aches and pains I would have if I was overweight and unfit. I'd be a mess probably
  • your doing amazingly well... great to read :D
    Mortgage restart June 2018 £119950Re mortgage August 19 £110470, … Mortgage November 22 £85600 final 0% CC 3300Home renovations - £65000, mid 2018 - mid 2022
  • dano17439
    dano17439 Posts: 366
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    your doing amazingly well... great to read :D


    Thank you for the kind words. Hopefully the next year will whizz by and i'll be typing 1 more payment to go!
  • LeighofMar
    LeighofMar Posts: 672
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    Repeat after me. We are in our forties and fabulous!!!! :p It's true until it's not. I know what you mean. Illness out of the blue at 38 :eek: But when we're good, we're great!!
    Congrats on all your progress. It won't be long at all now and all your holidays sound wonderful. I can imagine a trip to the Canaries will be heavenly. Enjoy and spoil yourself a little for being so disciplined with the mortgage.
    Mortgage start date Dec 2015 - $64,655.00
    Mortgage end date Dec 2045 - NOT!!!!
    Mortgage balance  - $4600.00
    Business Savings $43,310/100k
    Hope to be mortgage-free by end of 2023 
  • dano17439
    dano17439 Posts: 366
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    LeighofMar wrote: »
    Repeat after me. We are in our forties and fabulous!!!! :p It's true until it's not. I know what you mean. Illness out of the blue at 38 :eek: But when we're good, we're great!!
    Congrats on all your progress. It won't be long at all now and all your holidays sound wonderful. I can imagine a trip to the Canaries will be heavenly. Enjoy and spoil yourself a little for being so disciplined with the mortgage.


    Thank you! We've been on holiday countdown for about the past 3 months. Literally cannot wait. Will be a little strange though as for the past 6 years we have gone away with friends, but the way its worked this year its only myself, my wife and our daughter who is 14. I hope my daughter doesn't get bored!
  • dano17439
    dano17439 Posts: 366
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    Monthly update time!


    I hope everybody enjoyed their summer? We had a brilliant family holiday in Fuertuventura. I would highly recommend the Barcelo Correlejo Sands Hotel for some R&R if anyone is fancying a quiet break away. It was so good and much needed from the daily stress


    So money matters for the month...good and bad new really....good news first was that my wife got her annual bonus today which is always nice. Also from Monday I have been given a 2% pay increase. All extra funds will go towards paying off this mortgage.


    However my car has cost me £1,000 this month. 4 new tyres and an MOT and service which found I needed new disks and pads. Still I cant really complain, the car has cost me literally next to nothing in the 3.5 years i've had it, and only needs servicing every 2 years, so hopefully this is just a one off. I only do about 3-4,000 miles in a year anyway


    So this morning I have transferred 3K to savings, as well as paying the 1k credit card bill. Taking into account the regular mortgage payment that comes out Monday, the NET balance owed will be a shade over 31K


    We have a quiet month planned so hopefully October will see us into the 20's, and 1 year to go!
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