Thanks, yeah I think doing it the first time is the hardest, partly because it wasn't clear what number to phone etc. I went into a branch on the high street but they said they couldn't do it via debit card in there. So that made things feel a bit
Anyway it's done now and I know how to do it in future months too!
Original mortgage total: £250,000 (Feb 2019) Current mortgage total: £175,900 (July 2022) Original mortgage end date: Feb 2044 Current mortgage end date: Jan 2040 Mortgage free start date: 13th July 2020
https://forums.moneysavingexpert.com/discussion/6168574/quest-for-mortgage-freedom#latest 2022 MFW #58 MFiT-T6 #16 Goals for 2022 Mortgage: £18k overpayments, £175k left owing on mortgage by end of 2022 (£18000/£18000 so far) - goal met!
Decluttering: 2022 items decluttered by end of 2022 (1573/2022 items decluttered so far)
Saving for next year's mortgage 10% overpayment: £12000 saved by end of December (£5900/£12000 so far) Weight: 14lb lost by end of 2022 (8/14lbs so far)
Congratulations; a strong start! You seem really motivated to get MF so I'm sure you'll be successful!
May 2020 opening: £181,500, 21 year term. £14k additional borrowing December 2021 Current balance: £165,715.11 MFW #37. Aiming to pay off within 13 years 2020 OPs: £12,007.35 2021 OPs: £1,750.62 2022 OPs: £50
DH, 2 DD and 2 cats. aiming to be mortgage free at 50...11 years to go eek!
Feb 19 £358k
Jan 21 £283K (using savings)
July 22 £246K down to 17 year term
Great first overpayment. You will find keeping a diary really helpful. We achieved mortgage neutrality this year thanks to the support of everyone on here. Our mortgage was originally £280 k (gulp)
Thanks all, I hope I'm able to keep on track. Hopefully this diary will motivate me to do so. A poster mentioned focusing on maximising the gap between my incomings and outgoings, so that's what I'm trying to do:
I registered for Prolific yesterday
I'm sorting through our stuff, clearing the house and looking at what can be sold
At work I've put my name forward for another job internally, which would give me an admittedly very small payrise, but it sounds like an exciting opportunity and during this recession I think every little helps frankly
Payday for me and husband next week, best time of the month
Original mortgage total: £250,000 (Feb 2019) Current mortgage total: £175,900 (July 2022) Original mortgage end date: Feb 2044 Current mortgage end date: Jan 2040 Mortgage free start date: 13th July 2020
https://forums.moneysavingexpert.com/discussion/6168574/quest-for-mortgage-freedom#latest 2022 MFW #58 MFiT-T6 #16 Goals for 2022 Mortgage: £18k overpayments, £175k left owing on mortgage by end of 2022 (£18000/£18000 so far) - goal met!
Decluttering: 2022 items decluttered by end of 2022 (1573/2022 items decluttered so far)
Saving for next year's mortgage 10% overpayment: £12000 saved by end of December (£5900/£12000 so far) Weight: 14lb lost by end of 2022 (8/14lbs so far)
I made an overpayment of £2000 on the mortgage today. This brings the total outstanding now down to £234,900. I mentioned last time about the psychology of the numbers...well this time getting down below the £235k mark is a real boost, as I don't feel that far off of £230k now. It also felt much less of a faff than last time because I knew what I was doing, what number I needed to call and what info I needed to hand.
Separately, I've also got some items up online to sell to make a bit of extra cash. Unfortunately haven't heard anything more about the potential promotion, has all gone a bit quiet on that front. Just feel happy to have a job right now to be honest.
Original mortgage total: £250,000 (Feb 2019) Current mortgage total: £175,900 (July 2022) Original mortgage end date: Feb 2044 Current mortgage end date: Jan 2040 Mortgage free start date: 13th July 2020
https://forums.moneysavingexpert.com/discussion/6168574/quest-for-mortgage-freedom#latest 2022 MFW #58 MFiT-T6 #16 Goals for 2022 Mortgage: £18k overpayments, £175k left owing on mortgage by end of 2022 (£18000/£18000 so far) - goal met!
Decluttering: 2022 items decluttered by end of 2022 (1573/2022 items decluttered so far)
Saving for next year's mortgage 10% overpayment: £12000 saved by end of December (£5900/£12000 so far) Weight: 14lb lost by end of 2022 (8/14lbs so far)
Replies
Anyway it's done now and I know how to do it in future months too!
Current mortgage total: £175,900 (July 2022)
Original mortgage end date: Feb 2044
Current mortgage end date: Jan 2040
Mortgage free start date: 13th July 2020
https://forums.moneysavingexpert.com/discussion/6168574/quest-for-mortgage-freedom#latest
2022 MFW #58
MFiT-T6 #16
Goals for 2022
Mortgage: £18k overpayments, £175k left owing on mortgage by end of 2022 (£18000/£18000 so far) - goal met!
Decluttering: 2022 items decluttered by end of 2022 (1573/2022 items decluttered so far)
Saving for next year's mortgage 10% overpayment: £12000 saved by end of December (£5900/£12000 so far)
Weight: 14lb lost by end of 2022 (8/14lbs so far)
Cleared 🧚♀️🧚♀️🧚♀️!!! In 5 years, 1 month and 29 days
Total amount repaid: £72,307.03
Finally earning interest instead of paying it!!!
Current balance: £165,715.11
MFW #37. Aiming to pay off within 13 years
2020 OPs: £12,007.35
2021 OPs: £1,750.62
2022 OPs: £50
Halifax CC1 - £143.97/£3013.80 Paid Off 4.77%
Virgin CC2 - £564.11/£2321.74 Paid Off 24.29%
DWP - £95.82/£766.56 Paid Off 12.50%
Mum - £0/£1300 Paid Off 0%
Total Debt Paid Off £803.47 (10.85%)
Emergency Fund: £538.57/£1000
Aim To Be Debt Free By June 2024
Feb 19 £358k
Jan 21 £283K (using savings)
July 22 £246K down to 17 year term
A poster mentioned focusing on maximising the gap between my incomings and outgoings, so that's what I'm trying to do:
- I registered for Prolific yesterday
- I'm sorting through our stuff, clearing the house and looking at what can be sold
- At work I've put my name forward for another job internally, which would give me an admittedly very small payrise, but it sounds like an exciting opportunity and during this recession I think every little helps frankly
Payday for me and husband next week, best time of the monthCurrent mortgage total: £175,900 (July 2022)
Original mortgage end date: Feb 2044
Current mortgage end date: Jan 2040
Mortgage free start date: 13th July 2020
https://forums.moneysavingexpert.com/discussion/6168574/quest-for-mortgage-freedom#latest
2022 MFW #58
MFiT-T6 #16
Goals for 2022
Mortgage: £18k overpayments, £175k left owing on mortgage by end of 2022 (£18000/£18000 so far) - goal met!
Decluttering: 2022 items decluttered by end of 2022 (1573/2022 items decluttered so far)
Saving for next year's mortgage 10% overpayment: £12000 saved by end of December (£5900/£12000 so far)
Weight: 14lb lost by end of 2022 (8/14lbs so far)
Separately, I've also got some items up online to sell to make a bit of extra cash. Unfortunately haven't heard anything more about the potential promotion, has all gone a bit quiet on that front. Just feel happy to have a job right now to be honest.
Current mortgage total: £175,900 (July 2022)
Original mortgage end date: Feb 2044
Current mortgage end date: Jan 2040
Mortgage free start date: 13th July 2020
https://forums.moneysavingexpert.com/discussion/6168574/quest-for-mortgage-freedom#latest
2022 MFW #58
MFiT-T6 #16
Goals for 2022
Mortgage: £18k overpayments, £175k left owing on mortgage by end of 2022 (£18000/£18000 so far) - goal met!
Decluttering: 2022 items decluttered by end of 2022 (1573/2022 items decluttered so far)
Saving for next year's mortgage 10% overpayment: £12000 saved by end of December (£5900/£12000 so far)
Weight: 14lb lost by end of 2022 (8/14lbs so far)
Mortgage overpayments 2020: £4620
Mortgage 2017 £145K, June 2020 £112.6k