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My 'mortgage free' Dreams!

FTbuyer18
Posts: 66 Forumite


Hi guys! Happy new year 
I have been lurking for a while reading peoples diaries and though with it being a new year i would start my own to hopefully hold me to account.
I completed on my house 31.10.2020 first time buyer buying alone.
Purchase price : £123000
Total deposit £24,600
Total Mortgage: £98,400 2.39% Fixed for 5 years
Home Improvement Loan - £8000
Totals on the 01.01.2021
Mortgage amount £98, 026.34
Loan amount £7,639.25
Really not impressed with seeing the interest going onto my mortgage haha but i need to clear the Loan before i can start overpaying as it is higher interest, though as a single mum with 3 children this won't happen as fast as some but every little helps! I also bought a total do-er upper which has had close to 20k spent on it so far and still needs more! But hopefully when i come to remortgage in 5 years i can get a better deal if it has risen in value, if i understand this correct!
Looking forward to following all your diaries and getting ideas for my own slow journey to mortgage freedom!
Leanne

I have been lurking for a while reading peoples diaries and though with it being a new year i would start my own to hopefully hold me to account.
I completed on my house 31.10.2020 first time buyer buying alone.
Purchase price : £123000
Total deposit £24,600
Total Mortgage: £98,400 2.39% Fixed for 5 years
Home Improvement Loan - £8000
Totals on the 01.01.2021
Mortgage amount £98, 026.34
Loan amount £7,639.25
Really not impressed with seeing the interest going onto my mortgage haha but i need to clear the Loan before i can start overpaying as it is higher interest, though as a single mum with 3 children this won't happen as fast as some but every little helps! I also bought a total do-er upper which has had close to 20k spent on it so far and still needs more! But hopefully when i come to remortgage in 5 years i can get a better deal if it has risen in value, if i understand this correct!
Looking forward to following all your diaries and getting ideas for my own slow journey to mortgage freedom!
Leanne
Start date 17.10.2024 (ish..)
Mortgage - £88,801.19
Natwest card - £6,065.99
Halifax card - £483.95
Halifax loan - £484.16
Mum - £950
Dad - £30,000
Mortgage - £88,801.19
Natwest card - £6,065.99
Halifax card - £483.95
Halifax loan - £484.16
Mum - £950
Dad - £30,000
0
Comments
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Welcome and congratulations on your home. I think our homes are always a work in progress whether they're move-in-ready or fixer-uppers simply because we do what we can to make them our own, and that process never seems to end. Enjoy your house and your journey to being mortgage-free.Mortgage start date Dec 2015 - $64,655.00
Mortgage end date Dec 2045 - NOT!!!!
Mortgage balance - $4600.00
Business Savings $43,310/100k
Hope to be mortgage-free by end of 20231
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