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Hints & tips for paying off the mortgage faster

edited 30 November -1 at 1:00AM in Mortgage-Free Wannabe
8 replies 1.5K views
niftythrifty33niftythrifty33 Forumite
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edited 30 November -1 at 1:00AM in Mortgage-Free Wannabe
I have a diary on here but I thought it might be a good idea if everyone shares their tips in one place. I am looking for ideas so this would really help me. Sorry if there's already a discussion on this that I've missed.

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  • niftythrifty33niftythrifty33 Forumite
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    I've just realised this thread might be better off in the Old Style board? Please move if necessary.


    This could be a combination of general money saving ideas and mortgage overpayment tips.


    This is one tip I used to use when money was very tight, now that overpaying is the focus I might start it again...


    If you have a fussy family, buy value brands and put into branded packaging ie, ketchup, mayo, biscuits (straight into tin), hand soap, shampoo, jam, honey, dishwasher tabs, kitchen cleaner and loads of other things. I did this for ages and no-one knew ;)
  • KittenkirstKittenkirst Forumite
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    Hi Nifty :hello:

    A great thread for inspiration for me of ways to save money/pay off mortgage/ debts etc is on the Debt Free wannabes page where people detail the daily activities they do to reduce outgoings.

    Me personally, I do
    •surveys on certain sites (Pinecone, yougov),
    •check free postcode lottery,
    •use cashback sites for any spends and bills e.g. Sky subscription,
    •monitor my spends in an app (& also a master spreadsheet),
    •earn interest on savings/cashback against contactless payments,
    •meal planning,
    •packing lunch boxes/breakfasts/coffees for work
    •selling unwanted items on fleabay/fb selling sites
    •using discount codes or apps like Zeek if needing to buy anything
    •using loyalty points on everything from food to toiletries to hotels

    These are some of the main things I do :) there's probably lots more I can do so will read this post with interest :)
    Mortgage 1- 10/16 £170.995- Overpayments to 06/21: £13,784 (25% extra!): house sold & equity= £88,563.12 after fees!
    Mortgage 2-Due 06/21: £301,691 (!) Rate 2.2%. Plan to clear it before 30 years!!!!!!
  • Iv always taken a 1940s style of just not spending money unless it's essential. On payday, I leave just enough for the month and put away the rest.

    I also rarely ever buy "stuff". In fact I hate it.
    Mortgage Start - August 2013 £145,000 ************ Balance at April 2017 - £59,000

    Target - Overpay by £2,500 each month ************** Mortgage free by December 2018!
  • greentgreent Forumite
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    I used to manage extra payments to the mortgage (after our standard OP built in with the required payment) by using all and any extra money received: ebay (I'd try to pay the gross amount received and cover ebay fees and postage costs out of normal spends), cashback (always rounding up to the next £5 - so if I got cashback of £12.34 I'd make an OP of £15 to the mortgage), ziffit (again rounding up), money from a second job, any bonus money (inc any tax rebates, unused gift money) facebook sales - essentially any money which was in addition to our regular money was paid off the mortgage, always rounding it up :)
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NIL
    Net sales 2021 £209.04/£500 Decluttering 2021: 600/1000
  • chelseabluechelseablue Forumite
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    My top tip is shopping in Aldi or Lidl.


    I used to spend about £60-70 a week in Asda, since switching to Aldi we spend much less.


    For example I went food shopping on Sunday and spent £34 for our weekly shop, that's for 2 adults, 1 child
  • jodles16jodles16 Forumite
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    The wonderful Tilly has helped me by inventing Tilly Tidies (TT)! These can be a wonderful way to just send a little extra over! I used to do Non Spend Days (NSDs) and should get back into these as they helped me manage my money better overall!

    Jodles :D
    MFW2020 #115 250/3000 J-250
    1% challenge- /1525
    Save 1k in 2020- /3000

    Joining in UberFrugalMonthChallenge set up by the Frugalwoods!
  • GilmoreGirlGilmoreGirl Forumite
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    I was wondering, what do you do with your points from the survey sites? Do you prefer paypal payments, or Amazon vouchers etc.?
  • KittenkirstKittenkirst Forumite
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    I get the funds into my account and then OP them :D with pinecone before they started Paypal transfers of funds I used to get Starbucks vouchers for treats :)
    Mortgage 1- 10/16 £170.995- Overpayments to 06/21: £13,784 (25% extra!): house sold & equity= £88,563.12 after fees!
    Mortgage 2-Due 06/21: £301,691 (!) Rate 2.2%. Plan to clear it before 30 years!!!!!!
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