Smiling my Mortgage Away

edited 30 November -1 at 1:00AM in Mortgage-Free Wannabe
14 replies 1.1K views
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  • Thanks for your comments and encouragement VDOT! I agree it is a tricky balance and one that is constantly changing.... I can see how many people allocate a lot of their leftover money to doing things to the house rather than paying the mortgage. There is really no end to what you could spend once you start!
    Mortgage November 2016- €202,000
    Mortgage November 2018- €161,500
  • So a quick update on getting to our "into the 150ks" by the end of the year goal. With a further capital payment coming off in early December plus two further overpayments totalling 1000 I *think* the mortgage balance is close to, if not below, the 160k mark. I just made the most recent overpayment today so will wait until tomorrow and give them a call to check what the balance is. Annoyingly I can't login and see it online unless I also have a current account with them- which is actually on my to do list anyway so maybe I need to make that happen as it is motivating to be able to see the figures there in front of you on the screen! Currently they send me a letter a week or two after an overpayment with my adjusted payment amount (we reduce payments not the term) but the figure changes daily anyway because of interest. It seems antiquated in this day and age to be sending letter updates. I will report back if we have made it into the 150ks!! I'm a bit obsessed now so if we are not there, I will find the difference, even to get to 159,999!! Not bad considering this time two years ago we were in the 200ks.
    Mortgage November 2016- €202,000
    Mortgage November 2018- €161,500
  • Oooh- and this is really sad but maybe you will all understand- I can also update my signature hopefully to a "150s" balance and it will be so satisfying to see it.
    Mortgage November 2016- €202,000
    Mortgage November 2018- €161,500
  • Well surprisingly good news today. DH normally leaves the financial stuff to me (by mutual agreement as it is more my thing) but he is very much on board and we share the goal of getting the mortgage down. He announced this evening (not realising I had already just today transferred another OP to the mortgage) that he wanted to put in a 1000 payment from his sideline business into the mortgage. So we are going to smash the target of getting below 160k! I have already done the transfer online but will still need to phone the bank for the new figure as it is really tricky to estimate based on what I think has come off in capital from the actual mortgage payment in December plus the overpayments. Soon it will be time to set some targets for 2019 :-)
    Mortgage November 2016- €202,000
    Mortgage November 2018- €161,500
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