Woohoo!

L9XSS

New Mortgage payment down to £914.60p from £1077......term remains the same, making progress......can I achieve May 2023 as my MF date......we will see. 

savingholmes

You are doing really well even if not hitting your stretch targets. Hope you celebrate the £3K win. It's pretty good going!

L9XSS

Garden day today. Needs a good tidy and then a plan. Trying to keep it low key with NSD. Hopefully next year I can lavish some money to improve it in areas, nothing fancy. 

savingholmes

You can do a lot in the garden just with wildflower seeds

L9XSS

Managed to get some garden tidying done, so happy with that. Paying down some debt that I incurred last month on credit cards (eek). Anyway £35 payment sent to one and £120 to another. Leaves a little bit in the pot until payday next month. Will be happy when the credit card debt is clear too. Car will need fuel this week, trying to limit my journeys.

savingholmes

Well done on the garden and the CC payments

L9XSS

Ok mortgage stands at £26.6k left to go with term at 2 years and 7 months remaining. Pension has had a “little win” over the last couple of days with shuffling some investments whilst the markets were flat, so I nice little tick up which I’ve locked in.

savingholmes

All sounds good

isadreamalie

L9XSS said:

Milestone today, mortgage now under 50k remaining with 4 years and 7 months left! I’m aiming to have it paid off in 3 years with s bit of hugging and puffing!

Nice I'm almost under 100k now...

L9XSS

My variable rate will move up again as the BOE have raised interest rates by 0.25%.
Ive made an overpayment of £5000 today which will see my monthly payment drop from £914 to around £750. Not quite where I wanted to be but still decent progress. I’m still on track (I think) to be mortgage free by May 2023. Current balance once June’s payment comes out should be around the £20,750 left to pay. I would have preferred to be under 20k but that is my OCD kicking in. Emergency funds are at £4000 which was important to me as previously were down to £200 as I had prioritised overpayments. Last and final dip into pension without incurring any long term pain will be July........ideally an 8k overpayment that month, with 12k left to pay. These are some of the largest overpayments I have made, I know I’m fortunate to be able to make these payments, however I’m running a very tight budget at home. Will update again next month (it keeps me sane). To everyone else on the MFW keep plugging away, my overpayment history in the last 14 year since has been chequered from some months at ZERO to one month at 20k (bonus from a well paid job many moons ago).