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The Case of the Overwhelming Mortgage
Comments
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That's a fantastic result - get boasting!!!Mortgage start: £65,495 (March 2016)
Cleared 🧚♀️🧚♀️🧚♀️!!! In 5 years, 1 month and 29 days
Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed
Finally earning interest instead of paying it!!!4 -
That's amazing!!! Yay! Well done 🥳 I'd be very boastful at that result ☺️MORTGAGE BALANCE when we moved Aug 2024, £120,000. January 1st £118,267.06. May 1st, £116, 123, June 1st, £115,536, New mortgage added for extension- £165,000 July 1st!Mortgage Overpayments - September-December, £152.46. J- £103.27, F- £115, M- £91.50, A- £100, M- £200, J- £200. J- £200. Aug-£200.
Total- £1362.23
Goal pay off 1% of current mortgage in 1 year. £1650
EF- first goal £300
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That's fantastic!!! 🥳 xI am the master of my fate; I am the captain of my soulRepaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NILNet sales 2024: £202
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What a brilliant result, there must have been a hell of a lot of work to get there!
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She worked very hard. Delighted for her.2017 - mortgage of £140,000 and interest rate of £10 a day
Feb 2021 mortgage of £103000
May 2021 mortgage of £100000
July 2021 mortgage of £97000
November 2021 mortgage of £93000
July 2022 mortgage of £84000
December 2022 mortgage of £79000
December 2023 mortgage of £73000
March 2024 mortgage of £70000
May 2024 mortgage of £68000
October 2024 mortgage of £65000
February 2025 mortgage of £63000
March 2025 mortgage of £45000 and interest of £6.07 per day2 -
Well done.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.1 -
That’s a brilliant result xSealed pot challenge 822
Jan - £176.66 :j1 -
Thank you
Now considering next steps:
booking open days
driving lessons
learning to cook beyond pasta…2017 - mortgage of £140,000 and interest rate of £10 a day
Feb 2021 mortgage of £103000
May 2021 mortgage of £100000
July 2021 mortgage of £97000
November 2021 mortgage of £93000
July 2022 mortgage of £84000
December 2022 mortgage of £79000
December 2023 mortgage of £73000
March 2024 mortgage of £70000
May 2024 mortgage of £68000
October 2024 mortgage of £65000
February 2025 mortgage of £63000
March 2025 mortgage of £45000 and interest of £6.07 per day2 -
Interest on savings accounts for university came in yesterday: £300 approximately. Interest rate now rubbish so have spent about an hour looking at savings products, opening new accounts and shutting old. £8000 transferred to 1 year bond and opened another nationwide regular savings account. Have almost £14000 saved for university now (when you also include our other 15 year bond). If my sums are correct we should have £24000 by the time teen number 2 is in 2nd year of uni (presuming that is what she does).2017 - mortgage of £140,000 and interest rate of £10 a day
Feb 2021 mortgage of £103000
May 2021 mortgage of £100000
July 2021 mortgage of £97000
November 2021 mortgage of £93000
July 2022 mortgage of £84000
December 2022 mortgage of £79000
December 2023 mortgage of £73000
March 2024 mortgage of £70000
May 2024 mortgage of £68000
October 2024 mortgage of £65000
February 2025 mortgage of £63000
March 2025 mortgage of £45000 and interest of £6.07 per day1 -
That is a cracking amount of savings for uni. We're targeting about £12,000 per child for uni or whatever else young adult them wants to do (within reason). We've used Vanguard Target Retirement funds in ISAs for this, makes a good home for those generous dribs and drabs relatives gift, too. Going ok 10 years in 🤞🏻1
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