Mortgage free dreams

Thriftmaster1973

Yes it is, I've had a couple of mishaps recently - first was a one off payment to buy freehold, that involved solicitors etc, it came to £1400 all in. Second was a couple of weeks off sick due to pulling a muscle in my arm, that will cause a setback.

The main thing to remember is that setbacks are to be expected on the journey and when you encounter them it is important to start looking at expenditure and ways to make the overpayments achievable.

Best of luck on your journey.

[Deleted User]

September Update: 

• Balance - £125,600.00 // £124,000.00
• Over payments - £3,548.98// £4,250.00                           
• Savings - £17,000.00 // £17,000.00

I'm back on track to meet my targets & I also have enough savings now that I can completely focus on paying off the mortgage. I'm paying £100.00 into a S&S ISA still and would like to increase this amount over the years, but for now that will do.
Feeling positive about my financial position now! 

[Deleted User]

October Update: 

• Balance - £125,000.00 // £124,000.00
• Overpayments - £3,920.13// £4,250.00                           
• Savings - £17,000.00 // £17,000.00

Almost there! Can't believe how close to the end of the year it's getting.
I'm in a strange place at the moment where I don't know if I'll sell next year or carry on as I am, depending on so many factors. 
But if I do sell at the end of my 3 years fixed, I should have the balance down to £120k. 
We'll see what the market is like in April I guess! 

LadyWithAPlan

Great progress and focus
Look like your £120k May goal is definitely doable.

I am currently looking to buy and service fees are indeed v expensive in so many places, it is a real issue and as a buyer it is definitely something I am looking at carefully.

[Deleted User]

@LadyWithAPlan - Ah how exciting! Yes, the problem is they appear to be able to change service fee's whenever they please & it all depends on who your neighbours are whether they think it's a fantastic idea! Unfortunately, my flat block has a lot of mortgage-free individuals who don't seem to mind the higher service fee's ha.

November Update: 

• Balance - £124,400.00 // £124,000.00
• Overpayments - £4,272.70// £4,250.00                           
• Savings - £17,000.00 // £17,000.00

The second goal hit! £400 away from my £124k goal, which will definitely happen. Pleased with how I have managed this in the past year, given that my income has been so varied! 

I'm pretty sure I am going to sell in March/April, so this is no longer a mortgage-free goal, but I'm glad that I gave it a shot. 

LadyWithAPlan

On the service charge - oh no ;((

Are you planning to buy somewhere new without a mortgage?
Either way well done on hitting your goals - I also have a very variable income so always a wonder when I can hit my monthly goals. Over the last 18 months I have been so careful to not overspend or waste my income ..

[Deleted User]

Unfortunately, my partners mum passed away last year but she left him a small flat in her will, so we are planning on moving in there for now. Until we need more space anyway, then I'll be joining the mortgage free train again! 

February Update: 

• Balance - £123,000.00                   

I cancelled my overpayments this month, in preparation for hopefully putting the flat up for sale next month