MFi3: Mortgage-free by Christmas 2010 - diary of a MFW Martian

setmefree2

Marvin_the_Martian wrote: »

No updates in a while, as there's nothing much to report (besides reaching our MFiT target at the end of last month). Six months to go...

well done on reaching that target - steady as she goes......

[Deleted User]

Thanks to both of you We just had our annual letter from Nationwide, letting us know that our overpayments over the lifetime of the mortgage amount to an impressive £30k (that's on top of reducing the term several times), and that we have ten moths left on the mortgage (as at 31 December) even if we don't overpay. Our interest rate goes down from 2.69% to 2.5% (old BMR), and the regular payment does up by around £40 though that makes little odds, given that we overpay anyway.

£30k and with today's low interest rates... there's a lot we could do to spruce up the house with that, it's almost tempting to stay mortgage-encumbered for a little while longer. (Bad, bad thoughts! Away with ye! Get thee behind me...!)

RosieTiger

Well done - don't be tempted, get it banished !

[Deleted User]

Okay, I was bored at work and had nothing better to do with my lunch break...

Mortgage free countdown

Yep, the MFD has moved again - on the grounds that now that we're free of tracker-period overpayment constraints and associated redemption penalties, I'm throwing the kitchen sink at the mortgage simply in order to get rid of it. I shall live on rice like I've never lived on rice before! ...shame it only makes a difference of one (expletive deleted) month. We've abandoned that plan - it left our budget with no room for manoeuvre at all, and it's not worth that much pain for just one month. July 2010 it is.

ION, we've started planning the big revamp-the-house project for once we're clear of the mortgage. It's a rather impressive list, and I'm hoping we can get through it without needing another mortgage!

Queen-Bee_2

:rotfl: for the mortgage countdown and good luck on the last leg of your journey!
QB

[Deleted User]

Wow. A mortgage with only four digits before the decimal point. A mortgage that could fit onto the credit cards! And a mere 64p interest a day.

Not long to go now...

ION, I am on a smoke-free Lent. This is helping the budget considerably. (Not to mention my health.)

:j :money: :j

setmefree2

On getting Sub £10K:T:T:T

and well done on giving up smoking. Hope you enjoy being smoke free sooo much that you don't start again:D

evab_2

Absolutely fantastic to the mortgage and the no smoking, well done!

Best wishes for the final leg of your journey x

setmefree2

Re What you said on my thread about DVDs found a thread for you

http://forums.moneysavingexpert.com/showthread.html?t=2277073

The 'No More Buying DVDs Until I Have Watched the Ones I Already Own' Thread

[Deleted User]

In not-so-good news, it appears that the house has developed a bit of a structural problem. So it looks as if we may well be putting off our mortgage-free date, annoyingly - and possibly even going backwards, depending on what comes out of the surveyor's report.

Fun times ahead...