MF by 40! 18 July 2019 at 8:37PM in Mortgage-free wannabe 147 replies 8.2K views

beanielou

Looking good 

Gem2889

beanielou said:

Looking good 

Thank you, I was very sorry to read your sad news and I hope you’re as okay as you can be x

Gem2889

Another £100 OP made

£87,890

Gem2889

So everything is overwhelming atm-I  figured I would do a little progress check to remind myself how far I’ve come. Just
playing around with the OP calculator, in less than 4 years since I got my mortgage I have paid off more than £10,000 extra thanks to OPs compared to what the contractual payment would have cleared!

Proud of that! 

South_coast

Definitely! The first few years are the hardest to make headway because of all the interest piling on, so you're doing brilliantly 😀

LeighofMar

You should definitely be proud. That's what keeps us going is knowing we are further than where we should be. 

frankersBri

That's awesome progress! Well done, embrace that well-justified pride!

Gem2889

South_coast said:

Definitely! The first few years are the hardest to make headway because of all the interest piling on, so you're doing brilliantly 😀

LeighofMar said:

You should definitely be proud. That's what keeps us going is knowing we are further than where we should be. 

frankersBri said:

That's awesome progress! Well done, embrace that well-justified pride!

Thank you all for stopping by! Lovely to have some perspective! 

So, no major news on OPs but have been doing the sums in the background. My interest rate is pretty shocking at 3.04%, interest is currently £7.39 per day. The ERC drops to 2% as of 1st Sept 20 and remains at that until the end of the fixed rate. I’m debating remortgaging away  before the end of my fix in Aug 21. My lender has dreadful retention rates (got my house before I worked in financial services!) so I always planned to remortgage at the end anyway. I know I will need to contact a broker to get in depth advice but I don’t think it is worth drudging through the rest of this fix given the deals around at the moment. 

Any thoughts?

x

Gem2889

Another £200 o/p made! 🥳
Bal: £87,690

Gem2889

Hope everyone is keeping well!
On the slow roll to payday here so nothing exciting to report in terms of OPs, I am however very excited at the prospect of being released back into civilisation on 1st August 😂 

These last few months have been so challenging and I keep reading of people having magical transformative experiences in lockdown...all I got was depressed and an addiction to custard creams 😂😂 - in all seriousness though it’s taught me a lesson in comparing myself to others; and also reinforced the importance of being MF!
I’m so grateful for this community of like minded folks, so reassuring to think it’s not just me on this journey!

x