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NOW MORTGAGE FREE! In the big house - here we go again !
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Payday today. Only 2 more pay days left until Mr Flower is due to be made redundant. Small overpayment of £47 made to the mortgage and £1000 put in a separate savings account which we will pay to the mortgage as soon as he has secured a new job.
We intend to do the same next month too.0 -
How are things Flower. Sorry to hear about the redundancy.Starting balance £173,000 (Sept 2012) interest only so if we do nothing We will owe this at the end of the term😁😁
Balance as of Sept 2014 £165,803
Balance as of Feb 2015 £163,360
Balance end of July 2015 £159,050
Balance as of Jan 2017.... £138,033:j0 -
Hi there Cariad
Things are good. The redundancy has been put back until early March so have a bit more time to put money aside and I'm doing some overtime too to help with that.
We plan to put another £1000 aside on Friday plus a small overpayment to the mortgage. Will keep doing the same each month until February. We are also due a bonus in March so things really are ok.
Hopefully he will get a new job so there won't be much of a gap when he leaves. We don't want to touch his redundancy money but will need to wait and see how things go.
Think we may actually be able to call ourselves 'mortgage neutral' when he leaves his current job!0 -
Mortgage neutral eh? Well done, it's a lovely feeling. Every cloud has a silver lining so hopefully all will work out in your favour!😃Starting balance £173,000 (Sept 2012) interest only so if we do nothing We will owe this at the end of the term😁😁
Balance as of Sept 2014 £165,803
Balance as of Feb 2015 £163,360
Balance end of July 2015 £159,050
Balance as of Jan 2017.... £138,033:j0 -
Payday today so £1000 paid to the mortgage savings account taking that to £2000 and £160 paid to the mortgage.
Balance at the end of November will be £64458 plus £2000 in the mortgage savings account.
Next normal instalment will be on 1 December for £433. Then when we get paid on 20 December we plan to make an overpayment of £194 to the mortgage and put another £1000 into the mortgage savings account. That should take the balance at the end of the year to £64000 plus £3000 in the mortgage savings account.
Keep chipping away 🙂
Flower0 -
Payday early today 😃 So £195 paid to the mortgage to take the balance to £64000 at the end of the month.
Also another £1000 transferred to the mortgage savings pot to take that to £3000. That will be paid to the mortgage as soon as Mr Flower gets another job.
Next overpayment will be next payday on 20 January for £345 and £1000 to the mortgage savings pot.0 -
Small amount of compensation received from the bank so transferred £25 to the mortgage. Every little helps!0
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Great news - he's had the call to offer him a job - had the interview on Friday. Local job in the same field, with a payrise too!
Just going to wait to get the paperwork and then that £3000 saved for the mortgage is being transferred across.
Super pleased for him and relieved for us as we can carry on with our goal to have the mortgage paid off when the fixed rate finishes in July 2019.
A great early Christmas present!0 -
Ah that's fab, lovely news!0
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Very pleased for you - I hope he will still gets the redundancy pay!?Paid off mortgage nine years early in 2013. Now picking and choosing our work to fit in with the rest of our lives!
Still thrifty though, after all these years:D0
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