Giving it a go!

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Replies

  • LibranharryLibranharry Forumite
    39 Posts
    Mortgage-free Glee!
    Well, I did it! The 1st came, and brought a brand new shiny 10% figure with it, so I smashed 2k straight off the top! That has reduced my mortgage by 2 years and 3 months and saved £1969 in interest!

    Currently skint, in "mortgage fund account" but not for long. I get paid again this week so I will top it up slightly.

    I still have some of the 10% to attack before my term ends this year but I know I can do it.

    Happy 2019 everyone!
    The aim is to be mortgage free by 2020. :j:j
  • LibranharryLibranharry Forumite
    39 Posts
    Mortgage-free Glee!
    The trials and tribulations of being a grown up!

    Had far too many bills this month so I haven't saved a sausage. After juggling a little bit I have made a payment today of £88.77, which has surprised me by knocking off two more months! Whoop!

    I'm still in the race and I'll get there eventually.

    Feeling very good about the reduction even if it is the smallest payment I've ever made! :eek:
    The aim is to be mortgage free by 2020. :j:j
  • Note to diary.

    Even smaller payment made today, but at least I made one! Only one month shaved off, but one less month to worry about.

    I seem to be doing this mse journey alone now, except for perhaps a lurking ex and his new creature. That wouldn't surprise me at all! :D *waves* doing fine, thanks! :j
    The aim is to be mortgage free by 2020. :j:j
  • CouldsavemoreCouldsavemore Forumite
    393 Posts
    Third Anniversary 100 Posts Name Dropper
    ✭✭
    As they say... YOU ARE NOT ALONE!

    I'm feeling well jealous!

    I bought my house post divorce and wish i had started chiselling away at my balance then!

    Like you... i seem to annoy my work mates by having a budget and over paying my mortgage. Althougg looking at my bank statements i still seem to waste a fair bit!

    I came out of a five year fixed period in august and took another 5 years fixed with the same bank.
    They gave me quotes on all their options as they said they were not able to advise me.
    PAYDXMAS21 #41 900/900
    Fashion on a ration... 0/66
    Target weigh loss 2/14lbs
    Money saved on food budget by being frugal in 2021... 100

  • LibranharryLibranharry Forumite
    39 Posts
    Mortgage-free Glee!
    Thank you! I do feel like I'm sometimes a little bit over the top with it.

    I spoke to the bank too! Funnily enough they told me I need a financial advisor, as they couldn't tell me the best mortgage option!?! I couldn't understand that because I wanted a product they supply, and just wanted the rates?

    I think when my time runs out on this product, I'm just going to go onto a svr because I don't want to be tied in any longer than I need to be.

    When I was married I struggled to make the mortgage payments let alone any over payments! They were just a pipedream. High five to you for owning your own home and getting to the end point quicker than you ever thought! It's helpful to know there are others in similar situations, even if we do bore the pants off our work mates and family! :beer:
    The aim is to be mortgage free by 2020. :j:j
  • LibranharryLibranharry Forumite
    39 Posts
    Mortgage-free Glee!
    27.44 off the 10%!

    Random figure but means I've brought my mortgage down to a nice round amount! Going to see how much capital comes off in March then round it up again. New plan of action since I only have a couple of months left. I finally feel like I'm winning! :j
    The aim is to be mortgage free by 2020. :j:j
  • LibranharryLibranharry Forumite
    39 Posts
    Mortgage-free Glee!
    £50.00 of the top this month. Would have been more but I've been short paid, so I'm having to be a bit more frugal than usual.

    I haven't got much left of this year's 10% so I feel quite good about that!

    I have also been looking at opening a different savings account, as I don't seem to be getting much interest with the one I have now. Playing with the idea of a credit union as the interest rate is very good, and I have instant access to any funds I have in there.

    A bit closer to being mortgage free by 42! Fingers crossed I manage it!
    The aim is to be mortgage free by 2020. :j:j
  • EstherGEstherG Forumite
    9 Posts
    First Post
    I understand you very well, as I myself bring up two children. I can’t help with a mortgage advice, but I can just wish you good luck! You can do it, I'm sure of it!
    I love my family!
  • LibranharryLibranharry Forumite
    39 Posts
    Mortgage-free Glee!
    EstherG, thank you! It's hard juggling life and bills with children in the mix - always shoes or school trips or uniform or activities to pay out for with zero notice! :mad:

    It was mortgage day last week so I waited until the direct debit came out and then added an overpayment of 11.36 to round the figure up! :rotfl:

    I was just number crunching, and I have to find a little over 200 by April, and I've cracked the 10% for this year!

    I have spread myself so thin this year it's ridiculous, but it should only be for another 18 months and then I'll have some breathing space. Fingers crossed I manage it! Circus clowns don't juggle as much as I do! :rotfl:
    The aim is to be mortgage free by 2020. :j:j
  • LibranharryLibranharry Forumite
    39 Posts
    Mortgage-free Glee!
    Well, my plans seem to be going south for now!

    Each time I have spoken to the mortgage company they have told me I can change my deal in May, which will allow for an overpayment. That means I've been battering the 10% in the hope of shifting it all by then.

    After a call this week, they have now told me that's not possible, and I must slide onto the variable rate before I can make overpayments with no charge. That makes it September.

    I've got a bit of breathing space now, to try to save as much as I can to hit it with then, but it still feels like a bit of a let down. :(

    I've also discovered I have a £225 set up fee that has never been paid, so I need to factor that in at some point too.

    I know it's not a brick wall, but it feels like a massive set back. I was all geared up for May!

    On the upside, I have a new role at work which is allowing for expenses, so I have booked to take the family to visit harry potter World with the extra cash from this month. It isn't coming out of my savings so that's good!

    House insurance is due for renewal today too, so that WILL come out of the savings! :rotfl:
    The aim is to be mortgage free by 2020. :j:j
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