We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
2020 Mortgage-Free Wannabes
Comments
-
That's great new @Lomcevak. It must be a amazing feeling? It's great to hear and be motivated by people at the end of the process! I am very much at the beginning, and that mountain seems very, very steep with 16 years of steps on my current path!Mortgage balance £131,843.22
Standard term left 19y 6m (finish in 2040!)
over payment target for 2020 = £700
term left with over-payments 16y 5M
Mortgage neutral account = £2236.004 -
#31 with a third payment for June of £53.02 to tidy my remaining balance down to £31,150!
Total payments for June - £183.02
Mortgage - £23,500 remaining
MFW2021 #8 - £2,519.77/£3,000
Overpayments: 2020 - £4,722.83 / 2019 - £16,042.004 -
#67 here, forgotten to update for a few months. Given the current climate, just going for our basic overpayment and not adding any little extras as I feel its best to bolster the savings account.
Apr - £167
May - £167
June - £167
Thank you2021 MFW #35: £6000/£60004 -
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. 🤓5 -
#117 here. Managed to make a payment of £850 for June.
Thanks Julicorn!
3 -
Ooh congratulations @Lomcevak I might have to contact the BS to ask about early redemption fees and see if they might waive it - our mortgage has just over two years to go, is under £10k, and interest is under £5 a month thanks to an interest rate of 0.49% above the base rate (so 0.59%) - your experience sounds so good (and it is a monkey off your back, having drained the swamp and killed the crocodiles, to use the old metaphor!)Save £12k in 2025 #2 I am at £4863.32 out of £6000 after May (81.05%)
OS Grocery Challenge in 2025 I am at £1286.68/£3000 or 42.89% of my annual spend so far
I also Reverse Meal Plan on that thread and grow much of our own premium price fruit and veg, joining in on the Grow your own thread
My new diary is here7 -
#31 with another OP of £100 for June. Sorry it's all in bits and pieces this month!
Total for June is now £283.02
Mortgage - £23,500 remaining
MFW2021 #8 - £2,519.77/£3,000
Overpayments: 2020 - £4,722.83 / 2019 - £16,042.004 -
June payment £517.59 for number 82 please.
Thank you.
BbJan 2019: £211,500
September 2020: £197,600
Target: mortgage free by 20324 -
Lomcevak said: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 goneMFW #1214
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.3K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.3K Work, Benefits & Business
- 599.5K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards