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Mortgage free in 2

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  • MM10
    MM10 Posts: 57 Forumite
    Eighth Anniversary Combo Breaker
    Hi Everyone!!!
    Thanks Beanielou for your encouragement :)

    So I have been able to make a nice overpayment this month in spite of the set backs. I decided to sell some of my index funds (made about 7% on them).

    I just did not want to go so far off track .....

    So I have got a nice round number left now of the main mortgage £16400 ....and 12 more official payments to make.
    I am officially MFW in 1 year!!!!!!! :D Hopefully of course .. we shouldn't start counting our eggs now :easter_os .. shd we!!!!! :naughty:
    Total mortgage when started £256,809 in May of 2011; 2018 MFW #5
    Main mortgage was £214,309; now [STRIKE] £110,716 at Feb 2016 [/STRIKE]; [STRIKE] £63,645 at Feb 2017 [/STRIKE]; [STRIKE]£10,600 at May 2018[/STRIKE]
    Original repayment date 2036; Main mortgage free date [STRIKE]July 2021[/STRIKE]; [STRIKE]Dec 2020[/STRIKE]; [STRIKE]January 2019[/STRIKE] June 2018:)
  • beanielou
    beanielou Posts: 95,955 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Mortgage-free Glee!
    A year to go is just fab :grin:
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.     ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • MM10
    MM10 Posts: 57 Forumite
    Eighth Anniversary Combo Breaker
    I made a huge overpayment on Monday ( I took on some extra rig work over bank holidays that no one else wanted, so had to do overtime on top off it) and today my loan no longer appears in my account.
    I have just paid off my main mortgage....it is surreal:)

    Now I have to face the £30,000 lower interest loan that runs til 2036 or so ( need to check). It costs about £200 a month.
    I am thinking of making a 2 year plan to become debt neutral instead of paying it off.
    My index funds make about 7% ( not guaranteed of course) while the loan is at 2% for now.
    Total mortgage when started £256,809 in May of 2011; 2018 MFW #5
    Main mortgage was £214,309; now [STRIKE] £110,716 at Feb 2016 [/STRIKE]; [STRIKE] £63,645 at Feb 2017 [/STRIKE]; [STRIKE]£10,600 at May 2018[/STRIKE]
    Original repayment date 2036; Main mortgage free date [STRIKE]July 2021[/STRIKE]; [STRIKE]Dec 2020[/STRIKE]; [STRIKE]January 2019[/STRIKE] June 2018:)
  • bexster1975
    bexster1975 Posts: 1,576 Forumite
    Part of the Furniture 1,000 Posts Photogenic Bake Off Boss!
    Many congratulations on main mortgage free! :beer:

    I think mortgage neutral on quite a small remaining mortgage is a great idea. Allows you to be flexible, and whilst rates remain low why not?

    If you try the IVF again, I wish you the very best of luck.

    Enjoy the newfound mortgage freedom!

    Bexster :)
  • julicorn
    julicorn Posts: 2,596 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
    That's so awesome MM10, congratulations! :j
  • beanielou
    beanielou Posts: 95,955 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Mortgage-free Glee!
    Great news on being main mortgage free :)
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.     ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • greent
    greent Posts: 10,800 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Fab news, MM! :)
    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 2024: £20
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