Long time reader first time writer 26 April 2020 at 8:30PM in Mortgage-free wannabe 5 replies 271 views

Bazz1369

Thought i would join in to keep up my motivation, 
My mortgage background, 
Bought my house in 2011 for £122,500 with a %15 deposit,
I have remortgaged once 3 yrs ago which valued the house at a safe £146,600
Over the years i have more often than not kept a monthly overpayment up weather it 50, 100 or as now £150.
My current debt is £78530 @ 1.89% which ends in 15 months so will evaluate with my mortgage advisor my best option in about a year. 
I got married 4yrs ago and now we have an 8 month old boy so overpayments may vary but will always remain. 
I originally wanted to be mortgage free when i left the military but seen as thats now only 6 years away i dont see that happening but anything less than the original 2041 is great i guess! 
Great to read other peoples stories, some really great achievements. 

Bazz1369

I will also add i have no other debts and my bills are just under half my monthly income, included in that is my overpayment and money i also invest elsewhere, i also like to save up for home improvements and also have a large emergency pot as you never know when u want access to some cash for whatever.
The aim is to have it to or below 50% of the last valuation for when my deal ends next year which i am on track for. 

longway2go

You sound like you are doing really well 
Just wanted to pop in and say good luck to you. I find keeping a diary really helps keep you focused. 

Bazz1369

Not so bad, im not one for spreadsheets etc i know what i have, i know whats coming in/out and i just budget from there, i know what i need over what i want haha, Couple of home improvements this year after the lockdown, then see how things look next year. 

Bazz1369

7 payments on and im down to £75600, maintaining the overpayments every month. Little boy in now 1yr3m old and now we have a lil girl on the way!
Possible house ext on way, and the wufes on furlough so overpayments will be difficult soon. Staying positive though

longway2go

Congratulations