2019 Mortgage-Free Wannabes

wishingthemortgaheaway

Congratulations Utopiah,
What happens now? Do you just pay a tiny amount each month until 2022?

OhtobeMortgageFree

Cherryfudge wrote: »

Nothing pitiful about that - I see you've already shortened your mortgage by two years, which is brilliant. It also equates to up to £8 extra overpayment in terms of interest saved. That's even if you never make another OP.

Ah thank you. Yes I just need to keep remembering this. Every spare tenner thrown at the mortgage is actually £18! It's disheartening having been able to overpay by so much more each week until recently but it really does all add up!

OhtobeMortgageFree

#107 adding a final £10 to my total for September. £40 in total for the month. I'm going to overpay a bit more during October.
Thanks for updating!

ElmoR

Number 125 reporting in with a payment of £2154 for September.



Many thanks julicorn

utopiah

wishingthemortgaheaway wrote: »

Congratulations Utopiah,
What happens now? Do you just pay a tiny amount each month until 2022?

Yes it is calculated over the remaining term so 8 years 7 months. It will be 46p per month lol As soon as 1/3/22 we can pay in full

ChipAway

I managed to Scape together a further £100 for September so that's £300 in total.

It's very difficult to bother to keep going when the total is still almost £236k some days.

ilselm

46p per month :rotfl: Congratulations Utopiah!

#106 here with an early October update of £1,750 transferred into the mortgage account. I can’t believe we’re nearly three quarters of the way through the year and this challenge!

Thanks,

October total: £1,750
2019 total: £25,588 / £28,000

Lomcevak

ChipAway wrote: »

It's very difficult to bother to keep going when the total is still almost £236k some days.

I understand that - I'm now at just over £20k, but started at £229k. It's been a journey!

What worked for me was to break it down into small chunks, so that you're never more than a month or two away from a 'mini-Milestone'. And, as you get going, start looking at how far you've come, that's another source of milestones.

My experience is that the "it's endless" feeling never really goes away, I still feel it even though i'm over 90% done. But I just look at the next mini-Milestone (getting sub-20k next month), then in a couple of months the next one is interest dropping below 50p a day, then £10k will be a few months away. Just keep chipping away

utopiah

ChipAway wrote: »

I managed to Scape together a further £100 for September so that's £300 in total.

It's very difficult to bother to keep going when the total is still almost £236k some days.

It does feel like a mountain at the beginning but it is totally worth op no matter how small. Set yourself small targets and celebrate small milestones.
Even when I was down to the last couple of thousand pound I still felt we we're so far away. That feeling never really leaves on this journey. I've just become mf after 26 years and two houses later. We would still be paying a mortgage for the next 8 years if we hadn't op. Keep going you will get there.

benmclaughlan

#87 £955 overpayment for September.

Thanks Ben