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2020 Mortgage-Free Wannabes
Comments
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Another £10 for me (#93) please. Taking me to £285 total overpayments for the month so far. Thanks for updating as always. 😊
Original mortgage total: £140,000.00 (July 2015) Original mortgage end date: June 2040
Mortgage free start date: 16th October 2018 Mortgage total at this point: £132,829.12
Current mortgage total: £54,762.71 Current mortgage end date: June 2032 Daily interest: £7.59 > £2.643 -
Hello, hello, number 90. It’s mortgage DD day today so I’ve just OP £12.67 to bring the mortgage down to a nice rounder number. OPs for June so far are £312.67 😃SPC #023 SPC 12: £125.86[/COLOUR]:SPC 13: £214.98: SPC 14: £297.41 SPC 15: £237.27 SPC 16 £335.39; SPC 17 £662.09 SPC 18 £660.03[ SPC 19 ?COLOR="DeepSkyBlue"]MFW #21 Mortgage start Dec 2015 £79,950; Nov 2025 £17,241[/COLOR] 2025 OP £2426.36/COLOR]/£2,000 MFiT T6 #3 £19070/£25,500 (72.82%%) MFiT T7 #3 £4689/£21,930 (21.38%)4
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#8 reporting in with an overpayment for June of £10.56. Quite possibly the smallest overpayment I've made in the last seven years, but one that means that I am now no longer a wannabe - we're mortgage free
Looking back, my first post on the forum looks to have been on the 1st Jan 2012, when I wrote:Can I join too please - back in 2006 a ten-year fixed mortgage of £229k at 4.9% seemed a good idea
although to be fair it was the right choice at the time, just things
have turned out different. I've had a couple of half-hearted attempts at
overpayment, but only £2,898 so far, and as of today it stands at
£195,685.by the end of that first year of the challenge, I sounded a bit despondentthat's it for 2012 (where the heck did it go!?) and a total of £3344 overpaid for the year. That's well short of my original goal, and a miss for my revised-downwards £4k target too. With £186k outstanding the overpayments do feel a bit like lobbing a bucket of water at a forest fire though, my spreadsheet suggests they've knocked a grand total of about 30p a day off my interest bill which is a bit depressing. I need to find a way of taking a longer-term view of the effects which might be a bit more positive.Fortunately, I found that longer-term view. Seven years ago yesterday I remortgaged to get off that damn 4.99%, with the penalty fee undoing the first half of 2013 and bumping the mortgage up to almost £189k, but it more than halved the interest rate, and ground my way down to zero over the next seven years. Finally there.!Thanks to all for the support and encouragement on the journey. This remains my favourite forum on MSE so sure i'll be around in one form or anotherAnd, Julicorn, as i'm a total numbers nerd, please could you reset my target to £4,762.26 please to make target complete, not going to hit the original £5k any moreL.
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@Lomcevak this is AMAZING!! CongratulationsLomcevak said:- we're mortgage free Thanks to all for the support and encouragement on the journey. This remains my favourite forum on MSE so sure i'll be around in one form or another
🎉🙌🏽🔥👍🏽, your numbers give me hope!! MFW 2025 #32 £7,746.98/£3,000; MFW 2024 #32 £4,217.84/£3,000; MFW 2023 #32 £5,238.84/£4,000; MFW 2022 #32 £8,246.43/£8,000; MFW 2021 #32 £8,982.73/£8,000; MFW 2020 #32 £12,000/£6,000
Save £12k in 2025 #48 £16,000/£14,000; Save £12k in 2024 #26 £13,055.37/£6,000; Save £12k in 2023 #31 £11,500/£6,000; Save £12k in 2022 #32 £7,180.24/£7,000; Save £12k in 2021 #32 £9,500/£8,000; Save £12k in 2020 #147 £9,370/£8,000
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Congratulations Lomcevak
MFW 2025 No. 7 £2331.07/£2700
MFiT-T7 No. 6 £4868.07/£30,0004 -
Congratulations Lomcevak, that is absolutely amazing! Great to see that look back at the start of your MFW journey as well.
(I've also set your target to your final amount - got a slightly different figure from what you posted, but I suppose that doesn't make too much difference at this stage
) 5 -
Congrats Lomcevak! So great to see you have hit your MFW ambition, and in such a good time too! You're an inspiration!4
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Another £10 of account tidying going straight in as an overpayment for me today.(#93). This takes me to £295 total overpayments for the month so far. Thanks for updating as always. 😊
Original mortgage total: £140,000.00 (July 2015) Original mortgage end date: June 2040
Mortgage free start date: 16th October 2018 Mortgage total at this point: £132,829.12
Current mortgage total: £54,762.71 Current mortgage end date: June 2032 Daily interest: £7.59 > £2.642 -
Congratulations @Lomcevak 👯♀️🎉🗣🤹♀️🥳👯♀️Initial mortgage bal £487.5k, current £258k, target £243,750(halfway!)
Mortgage start date first week of July 2019,
Mortgage term 23yrs(end of June 2042🙇🏽♀️),Target is to pay it off in 10years(by 2030🥳).MFW#10 (2022/23 mfw#34)(2021 mfw#47)(2020 mfw#136)
£12K in 2021 #54 (in 2020 #148)
MFiT-T6#27
To save £100K in 48months start 01/07/2020 Achieved 30/05/2023 👯♀️
Am a single mom of 4.Do not wait to buy a property, Buy a property and wait. 🤓3 -
When I checked online banking this morning my mortgage account was showing a satisfyingly round £0.00, but having checked again it has vanished completely. Now closed and gone
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