finished today
globalds
PPR9.4K Posts
I feel that I should blow a little whistle in celebration
_party_
I paid the mortgage off today.
I started overpaying about five or six years ago with a gift of £500 I had.
It kind of stuck at low overpayments randomly for a few years but the last couple of years I became a bit more disciplined and tried to throw £500 a month at it ..Not always possible but more hit than miss .
I don't feel much different really ..But I feel I have done what I said I would a few years ago Old me is thanking younger me for doing it's bit and a little more.
I have shaved around ten years off the term. I do know I could probably have made more banking the cash with these low interest rates ..But I also know I would have spent half of it and the mortgage would still be with me.
For anyone considering starting overpaying or feeling like the mountain isn't getting much smaller with each little chip of the hammer ..I can only advise you to look closer at the small differences ..focus on that each week ..the next time you look up a few months later you will notice the change .
I have one sad thing ..I used to really enjoy loading the online banking morgage history and list through all the little overpayments and see it reducing over the years ..No more of that now ..
I had the intention of overpaying but was galvanized into action by reading stories on here ..So a big Thank you to all who have posted on this part of the forum ..
It wasn't a big mortgage ..Only about £40,000 ..so no amazing mission ..But I had other things to do and I am satisfied with how things have gone...
_party_
I paid the mortgage off today.
I started overpaying about five or six years ago with a gift of £500 I had.
It kind of stuck at low overpayments randomly for a few years but the last couple of years I became a bit more disciplined and tried to throw £500 a month at it ..Not always possible but more hit than miss .
I don't feel much different really ..But I feel I have done what I said I would a few years ago Old me is thanking younger me for doing it's bit and a little more.
I have shaved around ten years off the term. I do know I could probably have made more banking the cash with these low interest rates ..But I also know I would have spent half of it and the mortgage would still be with me.
For anyone considering starting overpaying or feeling like the mountain isn't getting much smaller with each little chip of the hammer ..I can only advise you to look closer at the small differences ..focus on that each week ..the next time you look up a few months later you will notice the change .
I have one sad thing ..I used to really enjoy loading the online banking morgage history and list through all the little overpayments and see it reducing over the years ..No more of that now ..
I had the intention of overpaying but was galvanized into action by reading stories on here ..So a big Thank you to all who have posted on this part of the forum ..
It wasn't a big mortgage ..Only about £40,000 ..so no amazing mission ..But I had other things to do and I am satisfied with how things have gone...
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Outstanding mortgage: £81,987
Cash reserve target £40 / £10k
S&S ISA £1000/ £20k
MF1 August 2016. approx (£152k start Jan 2009)
MFW 2 TBD
Enjoy your money you can keep save and use now :]
Emergency fund 23k
1% challenge- /1525
[STRIKE]Mortgage 8.2.15 - [/STRIKE][STRIKE]£171,064.64[/STRIKE] Mortgage 1.5.2018 - £99,980.45
It is worth the slog ..And for all those with huge mountains to climb I wish you luck on your journey ..Seems I was just walking with you to the foothills and left the real peeks to the Pro's :cool:
You never know ..I might be getting another mortgage in the near future .. I might be back trudging along with you all again pretty soon