New life, same goal! Pursey’s quest to be mortgage free.

Pursey

So after payments this month the mortgage on our home currently stands at £269999.00 as I had forgotten that they’d add the fee. I’ve now set up online banking though, which I think could become addictive and reckon that it’ll help me to overpay as much as I can. I already want to add just a little bit more, but will wait, as we’ve just taken a loan out for hubby’s car, so want to pay that off quickly first.

Feeling happy to be on the right track!

yogavibes

good news on getting new tenants. I need to look at our food bill and do some frugal meal planning as some weeks we spend £150 on food - ekk

Pursey

So mortgage one is currently at £264937.58 and mortgage two is at £78500. With Christmas and birthdays etc we have spent way too much and I really want to chill out and refocus now, so hopefully we will get back on track.
Our ‘new’ tenants are sadly moving out and I wasn’t really able to put much of their rent towards the mortgage as we had a number of repairs to do Fingers crossed we get some new people in soon and that they are good tenants!!!

Pursey

Just overpaid £209 on my main mortgage

savingholmes

Ouch to repairs! So frustrating! Hope you get better tenants this time too

Pursey

Have I not updated since January?!?! What a year! 

Well, mortgage 1 is currently at 253999.99 and mortgage 2 is at 76199.
Looks so massive when written down  

Our new tenant moved in in February, but I’m not sure how long she’ll stay. She’s on and off with her husband and they own a property together, so I guess it’s a case of wait and see.
Money has been a bit more of a struggle recently, but I can’t complain, as I guess we are in a better position than many. 

Pursey

Another few months have passed by and so I thought I’d do an update.  

Mortgage 1 - £248399.99
Mortgage 2 - £74697.45
Total mortgage debt - £323097.44

Trying so hard to keep overpaying, but there are so many other things to pay for. 

Need to rein it in and make sure that I prioritise overpaying. Feeling lucky to be in this position at the moment though. 

Pursey

Here we are again, but since I last wrote we’ve remortgaged our btl and put it onto repayment 🙌
As of today:
Mortgage 1: £234474.91
Mortgage 2: £74129.48
Total owed: 308604.39
Finding it harder to overpay at the minute as I’m spending wildly! Need to regroup.
My first goal will be to reduce the total debt to under £300k  

Pursey

Back again  
As of today:

Mortgage 1: £227287.87
Mortgage 2: £73298.09
Total owed: £300585.96

So close to owing under £300000 now! It is making me want to overpay that final amount...... It is also lovely to look at the above amounts and to see that I have paid off over £22000 in the last year.

Mr Pursey and I are now on a 'no spend' mission and I have just downloaded YNAB, although I have absolutely no idea how to work it! 

Pursey

Just made an overpayment of 585.97 to mortgage 2  
So the amounts are now:

Mortgage 1: £227287.87
Mortgage 2: £72712.12
Total owed: £299999.99

Yay!!!