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Slayerx's Journey to freedom !!
Slayerx
Posts: 1,285 Forumite
So my mortgage hasn't officially started but I thought I would get a diary page ready in preparation.
- Mortgage balance as of the 15th of May 2015 - £56,952.00
- Fixed rate of 2.69% for 5 years
- Minimum Payment £230 p/m
- Term 30 years
I was really surprised to see that when looking at some over payment calculators was just paying an extra £30-£40 made such a difference on the overall term.
Once me and my partner have moved in I will be looking at ways to cut back on bills and throw more at the mortgage.
The long term goal is within the 5 years reduce the mortgage to approx 45k sell the house for around 60k (being conservative and this would be if it didn't increase or decrease in value).
Then use the deposit to move into our forever home as this is our first home.
I've being reading peoples diaries on here for years and didn't think for a long time I would be the one doing one!
Exciting times :T:T
- Mortgage balance as of the 15th of May 2015 - £56,952.00
- Fixed rate of 2.69% for 5 years
- Minimum Payment £230 p/m
- Term 30 years
I was really surprised to see that when looking at some over payment calculators was just paying an extra £30-£40 made such a difference on the overall term.
Once me and my partner have moved in I will be looking at ways to cut back on bills and throw more at the mortgage.
The long term goal is within the 5 years reduce the mortgage to approx 45k sell the house for around 60k (being conservative and this would be if it didn't increase or decrease in value).
Then use the deposit to move into our forever home as this is our first home.
I've being reading peoples diaries on here for years and didn't think for a long time I would be the one doing one!
Exciting times :T:T
Official DFW Nerd Club - Member no. 065
0
Comments
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Well done :]
That is a great mortgage to start off with i just
With a mortgage of 57k over 30 years overpaying will make a massive difference :]Mortgage--- [STRIKE]£67700 March 15[/STRIKE] [STRIKE]£65221 April 15[/STRIKE] [STRIKE]£64983 July 15[/STRIKE] [STRIKE]£64780 sept 15[/STRIKE] Remortgage [STRIKE]£67295 oct 15[/STRIKE] [STRIKE]£66599 Nov 15[/STRIKE] [STRIKE]£65878.73 Dec 15[/STRIKE][STRIKE] £64834 1st Jan 16[/STRIKE] [STRIKE]Feb 16 £64,511.89[/STRIKE][STRIKE] March 16 £64,056.40[/STRIKE] [STRIKE]April 16 £62550[/STRIKE] [STRIKE]May 16 £62,396.20[/STRIKE] Feb 17 £60.800
Emergency fund 23k0
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