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Mortgage free by my own merit

edited 5 January 2019 at 10:59PM in Mortgage-Free Wannabe
117 replies 12.4K views
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  • OhtobeMortgageFreeOhtobeMortgageFree Forumite
    220 posts
    100 Posts First Anniversary
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    Unfortunately I miscarried on Tuesday evening and have returned from hospital today. So for the time being I don't need to look further into maternity pay for next year.

    In completely unrelated news, today being the 1st of the month I can recalculate daily interest on the mortgage again. It's now dropped from £7.59 to £7.31! Going to focus my energy fully back into paying off the mortgage again now that we don't have anything to save for again...
    Original mortgage total: £140,000.00 (July 2015) Original mortgage end date: June 2040
    Mortgage free start date: 16th October 2018 Mortgage total at this point: £132,829.12
    Current mortgage total: £119,116.12 Current mortgage end date: June 2038
    Total overpayments so far: £2975
    MFW 2020: £1460 / £5000
    Daily interest: £7.59 > £6.83
  • beanieloubeanielou Forumite
    72.8K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
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    So sorry to read your news.
    Take care of you
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 2 lbs **
    MFW. 9 months to go. B)
    "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.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
  • twinklietwinklie Forumite
    4.5K posts
    Part of the Furniture 1,000 Posts
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    Be kind to yourself.

    But congratulations on the reduction in interest. I long for ours to be that low!
    Daily mortgage interest Aug 20 - £15.24 Reduction in daily interest - £1.21
    % of house owned/% of mortgage paid off.
    Aug 20 - 17% /7.3%
    MFiT-T5 #13 MFW 2031/currently Oct Sept 2037
    New aim - reduce debt by £4,000 by the end of 2020. % remaining Aug 20- 72.6%
  • savingholmessavingholmes Forumite
    12.7K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭
    So sorry to hear your news about the miscarriage. Take some time to nurture and look after yourself. Ask for help when you need it. Don't be surprised if feelings well up about it when you are not expecting it.
    During 2020: Target 1) Reduce debt from £25.1K @ 0% Now down to £17,357 Target 2) Overpay mortgage - now @ £777 OP Target 3) Improve pensions Target 4) Declutter 52 bags - Done with help of skip. 5) Lose 21lbs - now at 15lb lost 6) Build/maintain EF/Savings pots at £1K or more by 31/12/20
  • OhtobeMortgageFreeOhtobeMortgageFree Forumite
    220 posts
    100 Posts First Anniversary
    ✭✭
    Thanks for everyone's kind words. It's fallen that both my husband and I have a lot of work on this week so we've not really had a chance to see each other since it happened. One of us has always been working and one has always had a child. With my nightshifts and freelance work it's meant that we've not even had the opportunity to speak to each other in bed at the end of the day. We are away on holiday next Monday-Friday though which is hopefully just what we need.
    Original mortgage total: £140,000.00 (July 2015) Original mortgage end date: June 2040
    Mortgage free start date: 16th October 2018 Mortgage total at this point: £132,829.12
    Current mortgage total: £119,116.12 Current mortgage end date: June 2038
    Total overpayments so far: £2975
    MFW 2020: £1460 / £5000
    Daily interest: £7.59 > £6.83
  • OhtobeMortgageFreeOhtobeMortgageFree Forumite
    220 posts
    100 Posts First Anniversary
    ✭✭
    I spent Wednesday and Thursday on hospital. On Friday I had to return to the local blood clinic to have more blood taken for tests. It's four miles away. Had I been toddler free I would normally walk to an appointment. Obviously not an option when you have a two year old, so I caught the bus. A thirty minute walk to the bus stop, less than five minutes actually sat on the bus and then a 45 minute walk the other end! It's still free for my toddler to travel by bus, but it cost me £4.40 for a one way ticket!!! I really didn't expect it to cost so much for such a short journey (that ended up not even taking me very close to the clinic at all!) I didn't have enough money on me to get home by bus again for this reason so had to wait a few hours until my husband finished work and could pick us up!
    Original mortgage total: £140,000.00 (July 2015) Original mortgage end date: June 2040
    Mortgage free start date: 16th October 2018 Mortgage total at this point: £132,829.12
    Current mortgage total: £119,116.12 Current mortgage end date: June 2038
    Total overpayments so far: £2975
    MFW 2020: £1460 / £5000
    Daily interest: £7.59 > £6.83
  • beanieloubeanielou Forumite
    72.8K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭✭
    That is a shocking price for the bus.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 2 lbs **
    MFW. 9 months to go. B)
    "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.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
  • savingholmessavingholmes Forumite
    12.7K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭
    Glad you've got some time off earmarked for you as a family.
    During 2020: Target 1) Reduce debt from £25.1K @ 0% Now down to £17,357 Target 2) Overpay mortgage - now @ £777 OP Target 3) Improve pensions Target 4) Declutter 52 bags - Done with help of skip. 5) Lose 21lbs - now at 15lb lost 6) Build/maintain EF/Savings pots at £1K or more by 31/12/20
  • sarahevie1sarahevie1 Forumite
    577 posts
    Fifth Anniversary 500 Posts Combo Breaker Mortgage-free Glee!
    ✭✭
    Didn't want to read and run, sorry to hear about your miscarriage.

    Your diary struck a chord with me, also a teacher, but have done lots of jobs alongside over the years including; 8 years in a supermarket. BTLs, lodgers, freelance research work, surveys etc.

    I was reading where you said it was disheartening wondering how people manage the cars, holidays etc. I think that some people just earn more, some use credit, it doesn't really matter. I felt like I was wading through treacle for years, but it comes good in the end. I don't focus on what other people have got as really there's no meaningful comparison; as we are all so different and that's the beauty of it.
    Home - Cash purchase £350,000 nov 2018
    Original mortgage free date Nov 2037
    Mortgage free August 2018

    BTL: Purchased £105,000 June 2019 - Rented £650
    BTL purchased July 2020 - New £170,000 mortgage - Rented £795
    Teacher pension - DB scheme
    LGPS pension - DB scheme
  • OhtobeMortgageFreeOhtobeMortgageFree Forumite
    220 posts
    100 Posts First Anniversary
    ✭✭
    sarahevie1 wrote: »
    Didn't want to read and run, sorry to hear about your miscarriage.

    Your diary struck a chord with me, also a teacher, but have done lots of jobs alongside over the years including; 8 years in a supermarket. BTLs, lodgers, freelance research work, surveys etc.

    I was reading where you said it was disheartening wondering how people manage the cars, holidays etc. I think that some people just earn more, some use credit, it doesn't really matter. I felt like I was wading through treacle for years, but it comes good in the end. I don't focus on what other people have got as really there's no meaningful comparison; as we are all so different and that's the beauty of it.

    I've been having a binge read of your diary over the past week. Really inspiring! Very brave of you taking on a lodger. Our house definitely isn't in order enough to do that! I do really want to purchase a buy-to-let as another income stream but I'm desperately unsure of the right order to prioritise everything in at the moment. It's on the cards for sure though.

    It does make sense what you say about comparing not being possible really. We've all had different starting points and all with different goals in mind.
    Original mortgage total: £140,000.00 (July 2015) Original mortgage end date: June 2040
    Mortgage free start date: 16th October 2018 Mortgage total at this point: £132,829.12
    Current mortgage total: £119,116.12 Current mortgage end date: June 2038
    Total overpayments so far: £2975
    MFW 2020: £1460 / £5000
    Daily interest: £7.59 > £6.83
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