Clear the mortgage in 30 month

Grannydebt

Hi,

2015 was a massive year for me. I split up from my long term partner, obtained a new job, paid off nearly £7000 in unsecured debt and saved a £6000 emergency fund, wow.

I now intend to pay off my mortgage as soon as I can. I hope to pay off £1000 per month over my normal payment of about £400, I'm trying to find a website which will give me the payment time in months but I think it will take about 30 months.

I start the the first payment on January and I'll looking forward to making great progress in 2016.
G

dark^knight

Hi G,

That's a similar target to mine...will be keeping an eye on your journey for inspiration...good luck.

dano17439

Good luck it can be done by increasing small amounts when you can. I am OP over £1200 per month by starting with £100pm many years ago

Dalradian

Great achievement so far. I hope to be mortgage free in around 3 years so will follow your progress with interest

jeanangeo

Just wishing you luck from a newbie . I've subscribed and am looking forward to hearing how you get on .

Grannydebt

Happy New Year MFWers, lets hope it's a good one for us all.

Well the Christmas and New Year celebrations are over at Granny's house, we had a lovely time but now it's the start of a brand new shiny year of Mortgage Free Wanabeness.

I was paid on the 31st and my mortgage payment will go out on Monday 4th and I have just arranged an additional internet payment of a few pounds and pence over £1000 making the total payment for January exactly £1400. I'm really "pumped" about making this payment and, while I don't want to wish my life away, I would dearly love to get rid of the mortgage. As I am on my own I don't feel secure in my little house with this mortgage hanging round my neck.

I was hoping that I could pay more in January but I need some work done to my central heating boiler and I think it is wise to hold some money back so I don't have to dip into my rainy day fund. If the cost is less than I fear I can always add it to next months payment.

Once it all goes through I will up date my signature with the new mortgage amount outstanding.

Best wishes

G

Grannydebt

Wow 5 months in to this mortgage free lark and I have been working very hard to get my mortgage paid off. I'm over paying various amounts up to £1250 per month and it's great to see the balance reducing. On the other hand its getting a bit boring slogging away putting every spare penny into the mortgage.

I had a redundancy scare a couple of months ago. It looked like there would be job cuts but they skipped my section, this time. With this in mind I think the sensible thing is to keep marching on towards mortgage freedom in the hope that I stay in work until it's all paid off. I think redundancy must be much less scary when you have a secure home which is all your own.

Keep going everyone.
Granny