Dogbooks' Diary to be Mortgage Free!

in Mortgage-free wannabe
24 replies 3.5K views
Hi all,

I've been so inspired reading all your diaries and as we exchanged today I thought I would celebrate by creating my own diary to join you all! :rotfl: Due to complete on Friday :j:j

OH and I have bought the house, and we will also have the addition of my mum's dog moving in with us when we've settled in, which I am very excited about.

We've bought our first house for £200,000k, taking out a mortgage for £180k currently to be fully paid in 27 years (which is scary as that is longer than I have been alive for haha!) However, hoping to get rid of it as soon as possible.

I'm not yet setting a target- I'm going to wait until we have fully moved in and sorted bills etc and seeing what I have leftover. I'm not sure which date we will be moving in yet- we're renting our current place until the end of June so we have a lot of flexibility. We're hoping to get a new floor in the ground floor before moving.

I'm also saving up the EF to cover any essential house works- I currently have £900 in my fund and OH has a similar amount, however we're waiting for the solicitors to refund us 2k back (they hadn't included the Help to Buy Bonus in the statement) My plan is any extra money half is for the EF and half is for OP but we shall see how that goes :)

Cannot wait to share this journey and looking forward to getting to know more people on this thread! :)
Goals for 2017:
  • [STRIKE]Complete purchase of house[/STRIKE]
  • Save emergency fund- £1200/ £9300


  • lippy1923lippy1923 Forumite
    1.4K Posts
    Tenth Anniversary 1,000 Posts Combo Breaker
    Yay congrats :) I will be lurking with interest. Keep us updated on all your progress.
    Total Mortgage OP £61,000
    Outstanding Mortgage £27,971
    Emergency Fund £62,100
    I AM NOW MORTGAGE NEUTRAL!!!! <<Sep-20>>

  • Congrats on exchanging. :T
    I have been lurking this forum for a few months now waiting eagerly for ours to exchange so i can start my own thread. We're in a pretty similar situation to you so look forward to reading your updates :j
  • DogbooksDogbooks Forumite
    32 Posts
    Thank you Lippy1923- I'm looking forward to reading more of your posts and learning lots of useful tips! :)

    Frugal Foodie- Fingers crossed your exchange happens as quickly as possible and we can do this together haha!

    Quite excited for the first mortgage payment to come out in June to start knocking it down, I''m sure I will regret saying that soon haha! I should also start thinking about packing some time soon... :rotfl:
    Goals for 2017:
    • [STRIKE]Complete purchase of house[/STRIKE]
    • Save emergency fund- £1200/ £9300
  • KittenkirstKittenkirst Forumite
    2.6K Posts
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Welcome to the board Dogbooks! I've had my mortgage since October and am still excited by every mortgage payment (& more so by every teeny tiny overpayment!) as I just think of that extra little bit of house that's ours with each payment :D

    Best of luck for your completion on Friday!
    First home- Oct’16 until June’21: £170.995- Overpayments made £13,784 (25% extra!).
    New forever home- Sep’21 £309,449 @ 2.05%. Plan to clear it before 30 years!!!!!!
  • freshcottonfreshcotton Forumite
    223 Posts
    Good luck.
    Nothing like a good overpayment now and then. It's addictive so enjoy
    Mortgage Start - August 2013 £145,000 ************ Balance at April 2017 - £59,000

    Target - Overpay by £2,500 each month ************** Mortgage free by December 2018!
  • ElephantchunksElephantchunks Forumite
    211 Posts
    Sixth Anniversary 100 Posts Name Dropper
    Congrats on getting an exchange date & good luck with the move Dogbooks.
    We have just had our chain completed today so hope for an exchange date very soon. I will be reading your updates as we're in a similar ish position.
    "Why not now, OK so when and how," ElephantChunks.
    Electrics re-wire savings Oct 18 - March 2020 WE GOT ELECTRIC!
    Heating Loan Sept 0/£5000
    SPC14 #65
  • Congratulations on your exchanged and soon to be completed house purchase and best wishes for a joyful future in your new home.
    Good luck with your over payments
    LBM- June 2009 - 15 year plan started, Dec 2018 - time to review & refocus
    SPC12 #33 £210. Xmas 2019 - #15 £365 / £365 ... PAYDBX 2019 #23: £0 / £3,400
    MFW2019 #2: £6,999.67 / £8,000 MFiT-T5 start £95,352.52 - target £40k

    No matter how far you go, you always take yourself with you
  • DogbooksDogbooks Forumite
    32 Posts
    Thank you all for the lovely messages, definitely feeling the love and inspiration! Cannot wait for Friday after work to get those keys! :beer:

    Nothing yet to update except OH won £90 of Amazon vouchers from his work. We also gained an additional £16 of vouchers by trying out drinks filling out surveys :j Not strictly overpayments but it's less money buying things for the house. I've managed to convince him a cordless hoover is a real investment for the house haha! (That and a dining table is on my essential house purchases list.)

    I found a great deal on flooring as the downstairs of the house has old manky carpets- I receive a discount at work for a flooring supplier and they have sale on some flooring this weekend, so hoping to save some serious cash! My plan is to go away this weekend to meet some friends and let OH put down some new flooring. Win win for me haha! ;)

    Money wise I currently have £590 left in my current account and £900 as emergency. OH has £300 to his name. Solicitors have confirmed we will receive £2100 back from them which is a relief :D The plan is:
    • Pay for bills for our current rented house
    • Pay the bills/ mortgage for June for our new house
    • Pay for the new flooring
    • Build up the emergency fund- Currently £950 earmarked
    • Hit the OPs! :)

    Thanks for reading- no news turned into a lot of words today! :rotfl:
    Goals for 2017:
    • [STRIKE]Complete purchase of house[/STRIKE]
    • Save emergency fund- £1200/ £9300
  • Miss_Money_MagnetMiss_Money_Magnet Forumite
    184 Posts
    Ninth Anniversary 100 Posts Combo Breaker
    Good luck on your mortgage free journey. Like you we have taken out a mortgage over a long period, but I intend to try to make decent regular overpayents as soon as we've completed all the initial renovations!!
    "Never underestimate the power of small amounts"
    New Mortgage started March 17 £236,000 (28 years) NOW £231,500 March 3 18. 68% LTV. £221,100 Aug 19 £210,000 Jan 2020 £206000 April 2020 £204000 May £202,997, Aug 20 £199,554, Dec 20 £196,629 June 21 £185,200
  • DogbooksDogbooks Forumite
    32 Posts
    No news today... OH WAIT WE COMPLETED :beer::j:j:j

    It was really surreal to just sit in the garden and for it to finally sink in!

    I'm going away to Yorkshire this weekend (a lot of travelling shall be worth it for a reunion with friends!) and I'll be back on Tuesday. Have a lovely Bank Holiday all!!!
    Goals for 2017:
    • [STRIKE]Complete purchase of house[/STRIKE]
    • Save emergency fund- £1200/ £9300
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