Dreaming of a 10yr Mortgage...

jlaw4

Hi Everyone!

I've been on here looking at peoples tips and advice whilst i got bought out of a house owned with my ex and my new purchase went through...longest year of my life!

I now have a mortgage of £100,800. It is on a 35 year term as at the time we weren't sure if i'd have to sell the other house and this was the only way i could 'own' both.

I want to pay it off in ideally 10 years but happy for 15 if it takes a bit longer.

I have a nat west 5 year fixed mortgage, what is the best way to overpay? small monthly overpayments or chunks? I've also seen i can make a term amendment, would that be worth doing?

any help much appreciated!

j x

beanielou

Just popping in to say happy new diary

jlaw4

So it begins!

My payments are £369 a month and were due to start coming out this month so i've called up and increased to £400 a month for now.

I thought having small manageable goals would be better than aiming for something huge in the beginning so my next 6 months aims are:
Meal plan more - takeaways are SO tempting after a tiring day
Keep up with my tilly tidying - I tend to put away £30-40 a month atm.
Plump up my savings to £10K - Kitchen showrooms should have a disclaimer that it'll cost ££££ more than you think and may induce shock!

I hope to increase the monthly DD to £500 by Christmas... this is majorly dependent on if i need a more economical car as i have moved considerably further away than i was previously and my car is a little guzzler anyway!

Happy Friday

savingholmes

Congrats on starting