Early Thirties Mortgage Free Goal

Steve123456789

It's a new year, which means the option to over pay has opened up again.
£14,005 extra we're allowed to put down this year.
We're hoping to do this and about £10k into our S&S ISAs

South_coast

Wow, fantastic progress. I didn't even manage to buy until I was in my 30's, working hard to catch up now though.

Will be following

Trina90

Will be following with interest.
We're in a similar boat as bought in our early/mid 20s, 150k mortgage, looking to be MF by mid 30s.

Steve123456789

Thanks guys. Paid £3000 at the weekend. £11005 to go.

Steve123456789

Hit the max of £14,000 overpaid for this year.
£120,000 to go. Should be about £116,000 left at the end of the year so max next year should be about £11,600ish which is nice because it's less than £1000 a month.

The best bit is seeing the interest coming down. It's calculated daily and added monthly. The first couple of months were about £270 in interest. Now I'm at about £205 a month. Saving £65 a month!!

ruby_eskimo

Well done on maxing out the first two years already!  Will be following along to see how you get on with the rest of your goals.

LeighofMar

Excellent job. It's so motivating seeing these large numbers come down.

Steve123456789

I’m now unemployed so next year’s overpayments will be interesting. 

ruby_eskimo

Oh no, I'm sorry to hear that!  It's happening to a lot of people I know recently.  Fingers crossed you can find something soon.

Steve123456789

This month’s standard monthly payment has just come out and we now owe less than 50% of the value of the house. 

So we own half our house!!