Making fairy dust of the mortgage

BVic28

Sounds like you’ve had a busy year! Good luck with the MFW journey

Accountant_Kerry

Finally back on the forum since it updated, although I cant get it to work with MS Edge which is very frustrating.

Accountant_Kerry

Well I reached the point of being debt free then I had to buy a car, so I have a car loan for £11,000 over 3 years. I am not worried about that and will let it run its course as my car allowance from works pays for it anyway.

I have started overpaying in earnest now. £1600 overpayment this month, DD and I cant live in a 1 bed flat for much longer and I need to get the mortgage down before I move. Current balance around £82,000 after the overpayment. When I re-mortgage I definitely want to go somewhere that you can see the balance online!

Accountant_Kerry

Could access my payslip online today for next Thursday, I got my acting up allowance payment backdated until Jan which is good, however I didn't get my car allowance, I handed my car back on 6th March and they still haven't processed it so I get the cash instead which is quite frustrating, however I should then get over £1k for this next month. All these means come Thursday is that I should be able to make £1500 overpayment. 

My current fixed rate ends on 31st Jan and I am hoping to re-mortgage for £65k at that point.

Accountant_Kerry

Payday! OP of £1541.73 made, leaving a balance of £80,400 and £6100 remaining from my OP allowance for the year which will end in Jan when I re-mortgage. After my actual mortgage payment comes out tomorrow I will be below the £80k mark so quite a milestone

Jessy103

Great progress, well done

jenni_fer

Congrats in advance of being under £80k tomorrow!

savingholmes

Fab progress!

Accountant_Kerry

well the month has gone terribly slowly, I am lucky to still be working full time from home though so the current situation hasn't impacted my MF journey. Today I overpaid £1100 so this should being my total to about £78,700 which will be £78,200 tomorrow after my regular payment processes. and I am hoping to pay off another £250 this month later on to make it below £78k.
My DD is 10 so there isn't that much time until she will need a room of her own and we can no longer share and with house prices here starting at £260k for the cheapest reasonable 2 bed its going to be a big jump so the more I can get paid off in the intervening period the better!

savingholmes

Well done on the OP. I can't imagine sharing a room with a parent/child - it sounds tough for both of you. How long is your timescale for trying to get a new place?