Pocket Poor

Pocket_poor

Hi MrsLovely

Thanks for following! I will take a peak at your diary for some tips.

Pocket poor X

Pocket_poor

Afternoon all ��

Didn’t think I would be paying anything else off the mortgage this year but just paid £250.00. This will be our final overpayment this year.

New balance £ 52,497.73.

Best get back to all the Xmas cleaning I’ve got to do ��

Pocket poor X

pjcox2005

I think AnotherJoe has been a bit blunt, nor do I understand why they've put Hubbie as the high rate tax earner when it could be you. (Edited - apologies AnotherJoe, just seen the random posting in a different thread with more details)


That being said, it is worth having a think about your pensions and other savings, as to whether paying those could be a lot more valuable. I know there is an emotional pull of paying off the mortgage, but it would be a shame if that means a worse retirement when you could have had the benefits of both.

Pocket_poor

Morning, back again!

I found £10.65 in my top cash back account so sent straight to the mortgage.

New balance £52,487.08.

Pocket poor X

Pocket_poor

Morning all!

Happy new year.

Early morning update, just sent an overpayment of £300.00 to the mortgage, bringing the balance down to £51,827.33.

My hubby will also send another payment tonight after work so I will be back with a further update.

Enjoy your Friday everyone!

Pocket poor X

bexster1975

All the best pocket poor

I'd rather have the security of my own home, than putting aside money in hopes I live to 55, to then have 75% of my pension taxed once it's actually made some paltry sum. Always assuming someone doesn't leg it/go bancrupt within 12 months of my retirement, or the government of the day doesn't change the rules.

Sounds like you are on track to clear this away long before you are 55

Bexster

A_Frayed_Knot

Your doing great. Welcome to the addictive board of o/paying :j

Would like to suggest (in the nicest possible way ) that you tidy up your mortgage :eek:eek - what do I mean - tidy ???


Lets hope whatever hubby comes up with that it ends with £7.33 or even better £27.33

Pocket_poor

Ok, I’m back.

Hi Bexter & A Frayed Knot.

2nd overpayment of the day sent in.
A nice chunky payment of £707.33.

I can see this keeping the mortgage figures tidy, becoming addictive hehe!

New balance £ 51,120.00

Pocket Poor X

A_Frayed_Knot

Doesn't that look better

Lovely chunky payment :T well done hubby !!!

over to you, in the next few weeks for the £20 now :rotfl: hehe!

Very addictive - but all for the good :j and in good fun :beer: You are in control.

lexington013

Hi, just happened across your thread, I’m in a similar position, have about 51k to payoff with 5 years left to pay. I too would like the security of finally owning my home, although I have paid into pensions since 18.
My plan is May 2023 to have it gone. I will follow your thread to keep me motivated. I’m on a 2year fix with overpayments set at a max of 10%. I’m paying some CC debt down first as the interest rate is higher than my mortgage rate, so this makes sense. Ideally i will have zero balance CCs by March of this year. FWIW I managed to shave 8 years off my term by overpaying since 2008.