Was Mortgage Free until 52!!!

AlexLK

:rotfl: Glad everything is going well, AFK.

Re. reducing term: I'd say keep the term and if you can't overpay without incurring penalties, invest the money.

A_Frayed_Knot

Thanks AlexLK, we must have been cross posting on each other's diaries at the same time :rotfl:

Glad everything is going well for you too. I thought you were taking to having early nights speaking of which I'm up the crack of dawn in the morning, said I would do an extra all day shift, what was I thinking ?? :eek:


££'s

giblet1979

Hi AFK,
Just wanted to say hi and that I've been working through your diary tonight (up to page 31 but must go to sleep soon!)
Really enjoying hearing about your journey. I have a good friend who is looking to buy a house soon in her 50's, so I've sent her a link to your diary
Subscribed.
Gib x

EatingTheElephant

Well done on the new recruit

We are definitely in the minority!

giblet1979

Hi again AFK,
I've really enjoyed reading your diary - I am only just a recent convert to the MFW realms (having been a DFW up to this point) but DH and I are hoping to get as close to paying off a 30yr mortage in 12yrs as we can (at the back of my mind I'd like to aim for earlier but even 12yrs would be brilliant and is a significant challenge in its own right).
Have been automatically OP'ing about £200 a month since we remortgaged early this year, but did not reduce our monthly payment. Now we've combined our finished loan repayment (£300 approx) with an extra £200 and gone for a fixed OP of £620 whilst continuing to make random OP's in between. Like you we can Overpay 10% (but of our original balance) each year of our 5 year fix; that means we're allowed £13400 OP each year and have managed just over £1000 this year so far. No chance we'll get near what would be allowed this year, but a girl can dream
I'll look forward to reading more of your diary for inspiration, and hope you've had a lovely weekend
Gib xx

AlexLK

A_Frayed_Knot wrote: »

Thanks AlexLK, we must have been cross posting on each other's diaries at the same time :rotfl:

Glad everything is going well for you too. I thought you were taking to having early nights speaking of which I'm up the crack of dawn in the morning, said I would do an extra all day shift, what was I thinking ?? :eek:


££'s

Starting to fail with the early nights, unfortunately. Had one bad night and suddenly midnight is early again ...

Hope work was OK.

A_Frayed_Knot

giblet1979 wrote: »

Hi AFK,
Just wanted to say hi and that I've been working through your diary tonight (up to page 31 but must go to sleep soon!)
Really enjoying hearing about your journey. I have a good friend who is looking to buy a house soon in her 50's, so I've sent her a link to your diary
Subscribed.
Gib x

Hello Gib, and thanks for reading, sorry it put you to sleep and Good Luck to your friend, if I can do it then anyone can, if they need any help, I'll try my best.

giblet1979 wrote: »

Hi again AFK,
I've really enjoyed reading your diary - I am only just a recent convert to the MFW realms (having been a DFW up to this point) but DH and I are hoping to get as close to paying off a 30yr mortage in 12yrs as we can (at the back of my mind I'd like to aim for earlier but even 12yrs would be brilliant and is a significant challenge in its own right).
Have been automatically OP'ing about £200 a month since we remortgaged early this year, but did not reduce our monthly payment. Now we've combined our finished loan repayment (£300 approx) with an extra £200 and gone for a fixed OP of £620 whilst continuing to make random OP's in between. Like you we can Overpay 10% (but of our original balance) each year of our 5 year fix; that means we're allowed £13400 OP each year and have managed just over £1000 this year so far. No chance we'll get near what would be allowed this year, but a girl can dream
I'll look forward to reading more of your diary for inspiration, and hope you've had a lovely weekend
Gib xx

Congratulations on being DFW, so you must have ample tips and tricks to save some ££'s. 30 years to 12 years, wow, have you worked out how much you need to o/p to reach your target date? Your well on your way with your o/p's already :T if you find a target is out of reach, I make smaller ones or do-able ones as I get bored easy, short goals are best for me, then I can make another.

From reading my diary, you will be only too well aware of my OCD aka evening off the mortgage figure so, what are your doing with your mortgage ending in 473 - any way you can pay the 3 or even 73

My new motto is,

Always have a 0 at the end of your mortgage balance and someday it will all be 0's

Just made that up there, so thanks, I'm going to put it in my signature.

A_Frayed_Knot

OK, so went to update signature, and saw this;

1,499 Posts & 6,860 Thanks
This makes it 1,500 Posts :j


As for the weekend, had 1 day, then a 12 hour shift, I'm knackered and not feeling too good, so early night for me, will be back as have so much to say to you, sorry reply is short tonight.

A_Frayed_Knot

AlexLK wrote: »

Starting to fail with the early nights, unfortunately. Had one bad night and suddenly midnight is early again ...

Hope work was OK.

Alex - how was visit today, off to pop over to your diary, to see.

EatingTheElephant

A_Frayed_Knot wrote: »

My new motto is,

Always have a 0 at the end of your mortgage balance and someday it will all be 0's

Brilliant :T