Hope is not an Effective Financial Strategy

shangaijimmy · 28 February 2018 at 11:27AM

Well 3 years into the big mortgage free challenge, and am ecstatic with our overall progress. With every month i can feel a greater sense of freedom. Financial burden is evaporating away and i suspect the snowball effect is now starting to take real effect. We're 1 yr from a remortgage and i think if we fix for 5 that may see the end of it all...But as ever lets not get too far ahead of ourselves!

Monthly Figures

Closing Balance - £97,132.75
Total OP's - £542.19
Net Reduction - £1,040.33
Daily Interest - £4.36 (5p reduction)
LTV - 43.95%
% Loan Remaining - 71.42%

Diary Averages - 36 Months

Diary Opening Balance - £136,000
Current Balance - £97,132.75
Cumulative OP's - £21,566.45
Average OP's - £599.07
Ave Net Reduction - £1079.65
Diary Reduction - £38,867.25 (36 months)

Busy_Mee1 · 28 February 2018 at 12:02PM

Fantastic figures Jimmy - my favourite time of the month : )

michelle09 · 28 February 2018 at 8:42PM

Looking brilliant! You're not that far from the end now, I'm sure those numbers will fall quickly.

shangaijimmy · 28 February 2018 at 10:10PM

Thanks Busy and Michelle. Its funny as it feels like we're miles away from the end, yet when i look at how far we have come in 3years its astonishing!