long journey starts with a step

the_drifter2

hi all


Been reading the forum recently so thought I would join you guys

Used to be on the DFW many years ago after divorce and managed to finally graduate. Didn't think I would make it back onto the property ladder but managed it a couple of years ago taking out a whopping mortgage. Took out a 5 year fix, but the sums worked out such that I actually remortgaged (or am in the process) to a new 5 year fix and paid the redemption penalty.

So this is where I am:

Mortgage of £258,000 (due to transfer in 2 weeks) for 25 years on a 2.39% 5 year fix. The thought of how much I owe and the age I will be at repayment (65) are a little scary to contemplate, but I guess is the cost of living in London

OH is not working at the moment but we are expecting a little edition to the family in a few months so expect the expenses to grow.

Having done the sums I do not think I will have much spare cash to throw at the mortgage this year, but will be trying to pull out bits here and there to overpay.

anyway, hi to all for now.

Tahlullah

Hello and good luck on the journey. I must admit the cost of houses in London is frightening, but well done you for moving from DFW to MFW.

I wish you every success. If you achieved one goal, you can do it again.

Tx

the_drifter2

So what I thought would take 2 weeks took 2 months but finally remortgaged.

Rate was actually 2.29% in the end so saved a bit of money. Had tried applying to HSBC for their 1.99% fix but they were so difficult to deal with and they eventually said they couldn't lend to me.

Anyway now have 23 years and 2 months on my mortgage (DF date 1 august 2038!)

Let the journey begin....