Let the Adventure Begin

MrMFW

23rd August - Completion day

Is it crazy that I feel genuinely excited to finally have a mortgage that I can start overpaying?

MrMFW(2) and I somehow managed to get a deposit together on a £105,000 one bed flat (share of freehold) in sunny Wales with a 95% mortgage at a rate of 3.71% fixed for two years (shockingly high I know).

Whilst this will not be our ‘home for life’ it’s a step in the right direction for us both, we plan to live there for around 5 years before looking to buy somewhere bigger - all the more reason to overpay and after reading so many truly inspirational diaries I wanted to start a shiny new diary of my own.

I hope you will join me in my adventure toward mortgage freedom and look forward to sharing this journey with you all.

julicorn

Hi MrMFW, happy new diary! :j

We're in a kind of similar position to you (paying down our mortgage to have a bigger deposit on a house in 5-6 years time or so), so I can't wait to see how you get on

beanielou

Happy shiny new diary

bit_by_bit

Welcome and well done for getting on the property ladder. All thebest woith your plans

greent

Hello and welcome to MFW land! We are a friendly bunch here

Only one query I have.... 'sunny' Wales????? Are you sure?

gt x

zcrat41

Hello!! Good luck on your journey

MrMFW

Thanks everyone for your support so far, 9 days till completion, 10 till we actually move in.

Looking forward to getting out of box city and into our new home!

julicorn

Best of luck with your move, I hope it all goes smoothly!

MrMFW

:j We're in :j

Well we actually moved in a few weeks ago but it's been a hectic few weeks to say the least, so after a brilliant weekend at a family wedding I thought now would be the best time to get stuck into this diary.

We've fixed in for two years and my goal over these two years is to overpay £10,500 to drop our LTV to 85% so we can get a much more favourable deal when we come to fix again.

Im also working to fill up my 'pots' i've set up to keep us on track for some short/long term goals which I will keep you all posted on;-
Holiday - £288/£1,000
Health & Wellbeing - £20/£100
Emergency/Rainy Day - £500/£2,500
Christmas/Birthdays - £50/£300
New Phone - £100/£700
New Tattoo - £50/£200
These goals may change as the months go on but I will aim to post as much as possible to keep us on track and hope you will join us on this journey :beer:

MrMFW

It's Payday :j

Today I have made my first ever overpayment of £905.28:money:

Savings Pots
Here are how my pots are doing as of this evening;-
Holiday - £210/£1,000 (Had to pay for flights earlier this month)
Health & Wellbeing - £40/£100
Emergency/Rainy Day - £700/£2,500
Christmas/Birthdays - £80/£300 (£40 taken out this month to treat my friend to a meal for her birthday)
New Phone - £150/£700
New Tattoo - £105/£200

October Goals
I've decided to set myself two goals for October;-
- Post more on here to help keep me focussed on Mortgage Freedom
- Spend only £250 this month which includes food & transport

Hope you will continue following my journey and I promise to keep you all more updated next month!!

edinburgher

I like that you have a tattoo pot, very refreshing