The Mortgage-Free Mission

Luckyinlife

I cant seem to find out the interest rate you have currently ? but ya if its a lowish rate the rewards are less than youll see for example on mine has my rate is huge :[
can u tell me the amount term and % so i can play about for you haha

id rather have a lower rate and see less savings if you get me hehe

Luckyinlife

Ya its hard to work out whats what really but iv been looking at what it takes to knock 1year off and work buy that lucky i managed to kock off 2 years from my over payment but this will be harder the more you ow

SR i bet your place is amazing tho and to own as much as you do already i would be super proud :]

Maybe_its_because

Well done on your first overpayment :j:j:j

Have you joined the MfW 2015 challenge? It's never too late, Lomcevak is happy to add latecomers to the party!

You must be buzzing!!

Hope you have a good week xx. MIB

Luckyinlife

SavingRaven wrote: »

Well done on knocking 2 years off the mortgage LIL! Can't wait til I'm saying that. Our place is getting there slowly but surely. Wanted to finish the garden today but I think the rain has scuppered those plans!

Hope everyone has a good weekend
SR

Thanks SR Have a great week

Luckyinlife

Great stuff SR :]
Bet your glad to see the mortgage finally coming down in nice chunks

Sounds like you got a busy few months :] always takes your mind off spending :]

Luckyinlife

wow 6k SR thats amazing hehe well done

Great stuff looks like everything is falling into place wooooo :]

Maybe_its_because

SavingRaven wrote: »

However, I have put money in the pot for the bills, have put £3000 aside for my sister and paid £1250 off the mortgage!!! Yippee!! That's the one I'm most excited about!


SR

That's excellent - well done on that achievement. It must've felt great to update your signature.

Have a fab bank holiday :j :beer::T

MIB x

StrugglingYouth

Hi SR!

I havent read your whole thread due to only finding it this morning. However I have subscribed. Mainly for your use of 'salubrious' which is one of my favourite words ever!

Il be back once I have read a little more!

LannieDuck

Hi *waves*

I hope this is the right diary - the link you posted for me didn't work, so I've found my way here Will read through and catch up with your journey this evening.

egoode

Hi SavingRaven,

Sounds like you are doing really well. One suggestion I'd make is as you are self employed look into getting an offset mortgage when you next re-mortgage. I'm a contractor and use the offset account for the money I put aside for tax and also my emergency fund and anything else I'm saving up for which at the moment is money for buying the freehold, redoing the kitchen and a loft extension. It means you pay less interest on your mortgage but the money is really easy to get back when you need it. It only takes a day for me to transfer it between my accounts.

Also I generally have 6-12 months of living expenses saved in my emergency account as I do worry work will dry up and have previously experienced 10 months with no work

Good luck with your MFW journey.