Mortgage Diary: 900k payoff

Dogslife4

Hey all, mid month payday has rolled around + I got a tax refund and so I've made some extra payments into the home equity loan, things are improving:

(red numbers are new balances as of today, black numbers are original balances when I started this thread)

Mortgage 1 - USA - $558k (372k GBP) (2.7%) - $554k
Mortgage 2 - UK - 161k GBP (4.7%) - £160k
Mortgage 3 - UK - 102 GBP (4.7%) - same
Mortgage 4 - UK - 119 GBP (4.7%) - same
Mortgage 5 - UK - 50k GBP (3.5%) - same
Home Equity Loan - USA - $71k (47k GBP) (4.5%) - $44k
Car Loan 1 - USA - $20k (4%) - $18.5k
Car Loan 2 - USA - $37k (4%) - $34.7k
Credit Card - UK - 10.5k GBP (0%) - £9300
Credit Card - USA - $8k - zero

Total £906k - Now £876k

On the one hand it feels great to know we paid off £30k of debt in only a few months. On the other hand it doesn't look like much when compared to the total! Oh well....

In other news. we've had agreement in principle to re-mortgage our BTLs in the UK - which the bank is happy to do in full knowledge we are overseas, good news is its a much lower rate - bad news is the fees will add about £8k to the total! :eek: Adding more debt goes very much against what we've set out to do, but the lower interest rates will cover the difference after 1 year, and since the rate is not a limited-time introductory fix (its a tracker + 2.49%) it should mean we can get off the roundabout of refinancing every few years. I am so over dealing with banks and going through applications.

All of the bills are out of the way this month so next payments will come on June 1 - I think we'll be able to take it down another £6k.