1st time lucky!!! 12 April 2016 at 2:20PM edited 12 April 2016 at 2:20PM in Mortgage-free wannabe 5 replies 653 views

rkd_999

Hi all, I've been lurking in these forums for a while, taking note of the hard work everyone puts into paying of their mortgages.

My mortgage is 1368 a month and I owe £216k with 18 years left on the term. My aim is to pay this off in the next 8 years if possible. I have started by overpaying by 1000 today and am in the process of clearing out the house for car boots and eBay - with this money being added as an overpayment as well. I notice some people make money off surveys - which sites would you recommend?

In terms of other spending - I am pretty money savvy and always have to get a deal or cash back, but will start paying all of this into the mortgage as well.

I am due a work bonus at the end of the month so am planning to put that against the mortgage as well as any money from my tax return (claim for work mileage).

I do have a cap on the money I can add to the mortgage this year and that is 10% of the balance but not sure I will be anyway near it - my aim is to at least overpay by 10000 which sounds like a huge number!!

I'll be posting everytime I make some progress on this.

Happy Tuesday!!!

chelseablue

Good luck on your journey, I'll be following your progress.


My mortgage is £230,000 :eek: but over a lot more years than you.


Where about's do you live?

smithers1981

Take at look at the matched betting forum........ read read read then read some more before seeing if it's for you, FAR more lucrative than surveys IMHO.

selloptape

Good luck rkd, I'm sure you will hit your 8 year target if you can OP 10k a year x

rkd_999

Just a quick follow up have made an additional payment of 1330, which was part bonus and I had 300 refund as well in April. Still need to do eBay selling but maybe next week for that!!

rkd_999

Oh wanted to add that 2300 has taken 4 months of the term!!