On my way!

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Down to £32,908 this month :-) my orginal target was to finish by july 2022, I revised that to September 2020 when I started this diary. At the moment, I'm on track to finish a bit before then, but will keep the september target to allow for anything unexpected!

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beanielou

Sounding good

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It's a day of small numbers and big numbers.....

Received my first payout from topcashback, which has gone straight to my mortgage and reduced it by £3.55 !!!!

Its also a year since I took on a new job (that I don't really enjoy) at a higher salary in order to speed up my MFW journey. Since this time last year, the mortgage has reduced from £44016 to £32904 :-) I increased my recurring OP amount during the year, so hope to do a bit better again in the next 12 months!

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beanielou

Great end of the month for you.

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Recieved my rate rise letter from the bank today. Despite the base rate rise, my standard payment has reduced from £358pm to £288pm because of my op this year, which is nice to see. Ive already inceased my monthly op to account for the difference and keep me on track ;-)

obay

Escapar2020 wrote: »

Recieved my rate rise letter from the bank today. Despite the base rate rise, my standard payment has reduced from £358pm to £288pm because of my op this year, which is nice to see. Ive already inceased my monthly op to account for the difference and keep me on track ;-)

Could you save even more if you got some 0% interest rate cards to move the amount owed from secured to unsecured?

It would seem low enough to actually move a portion of your mortgage over to a 32-38m card?

Escapar2020

obay wrote: »

Could you save even more if you got some 0% interest rate cards to move the amount owed from secured to unsecured?

It would seem low enough to actually move a portion of your mortgage over to a 32-38m card?

Potentially I could, but think I feel more comfortable knowing I can revert to the standard payment and longer repayment term if I ever need to. I suspect there might be some reductions coming at work, so hedging my bets!

obay

Escapar2020 wrote: »

Potentially I could, but think I feel more comfortable knowing I can revert to the standard payment and longer repayment term if I ever need to. I suspect there might be some reductions coming at work, so hedging my bets!

I do not know, I just saw another diary on here that a guy put £15,000 on a 0% credit card to save a bunch of money on his mortgage, he did pay his £15k back when the term ended or the house sold, I am not sure, but he did save around £200-250 a month while he was paying £130-140/mo for the interest on that card... So it worked out for him in a major way, got me thinking to do it when I get below 100k.

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obay wrote: »

I do not know, I just saw another diary on here that a guy put £15,000 on a 0% credit card to save a bunch of money on his mortgage, he did pay his £15k back when the term ended or the house sold, I am not sure, but he did save around £200-250 a month while he was paying £130-140/mo for the interest on that card... So it worked out for him in a major way, got me thinking to do it when I get below 100k.

Interesting. I'd thought about doing it when I get to the final 10k, maybe worth considering earlier

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Switched another of my current accounts, so at least another £130 cash back to come plus decent interest on balance upto £1500

Also moved my savings from am account paying 0.01% to one with 1.35% and easy access

Next will be switching my mobile contract to sim only, which should save about £20 per month. Who really needs a new handset antway!?

I'm already op signifcantly on the mortgage, so will start putting extra small amounts into savings. I want to do some home improvements so the extra cash will be handy, and if I don't need it, I can move it to the mortgage later 😃

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