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Narwhals and mortgages
Aggie_88
Posts: 11 Forumite
Hello,
Two years ago, nearly to the day, I bought my lovely flat. With 5% deposit, and 15% help to buy, my little dream came true. Since then I have paid off £9,750.44 so left with £110,244.56 to pay off and the 15% help to buy - currently roughly £24,500. The original date for paying off was Nov 2038, with the current over payments this will be Feb 2034 but I'm aiming to finish off much sooner, hopefully 2030.
My goals for the next three years is:
I want to get rid of the HTB by either paying it off ( savings + remortgage) or by selling my flat and buying something. Either way the more I can overpay and save the better my future will be
Anyway that's me
Two years ago, nearly to the day, I bought my lovely flat. With 5% deposit, and 15% help to buy, my little dream came true. Since then I have paid off £9,750.44 so left with £110,244.56 to pay off and the 15% help to buy - currently roughly £24,500. The original date for paying off was Nov 2038, with the current over payments this will be Feb 2034 but I'm aiming to finish off much sooner, hopefully 2030.
My goals for the next three years is:
- Save half of the HTB - so roughly £8k per year
- Overpay the mortgage - currently £141 per month
- Save for a new car - need roughly £10k which is limiting what I can overpay
I want to get rid of the HTB by either paying it off ( savings + remortgage) or by selling my flat and buying something. Either way the more I can overpay and save the better my future will be
Anyway that's me
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Wel;come to MSE.
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One debt remaining. Home improvement loan.0 -
Welcome to the mortgage free wannabes boards- love the title of your diary
First home- Oct’16 until June’21: £170.995- Overpayments made £13,784 (25% extra!).
New forever home- Sep’21 £309,449 @ 2.05%. Plan to clear it before 30 years!!!!!!0 -
So I've done a bit of a financial review with my accounts, I've checked what I have where, what is the money earning and how realistic my goals are.
At the moment I have about £6k stashed away, out of which £3.1k is my emergency fund so only £500 to go ( doesn't include my money to spend in Dec)
The rest is spread between various savings account:- an ISA
- the 5% nationwide saver
- two 1.5% savings accounts
One thing that became very clear is that my main current account doesn't earn me any money so I will be looking at what a better account I can get.
Another thing that crossed my mind is getting an app to help me manage my spending, or at least categorize it. Sp I'll be looking at these too, maybe one that invest some money as well :undecided0
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