My 'mortgage free' Dreams!

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!



  • LeighofMar
    LeighofMar Posts: 672
    First Anniversary First Post Name Dropper
    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 2023 
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