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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 ☺️Emergency Fund goal - £1000/1300
Mortgage OP goal 2026 - £1200/£4500
-Smaller goal £0/800
Read 24 books this year 22/242 -
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: £20
2026 Declutter campaign awards 2x star2 -
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 £103000
November 2021 £93000
December 2022 £79000
December 2023 £73000
March 2024 £70000
May 2024 £68000
October 2024 £65000
February 2025 £63000
March 2025 £45000, interest of £6.07 per day
November 2025 £41000, interest of £5.62 per day
March 2026 £38000, interest of £5.22 per day
July 2026 mortgage of £34,000 and interest of £4.97 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*** in ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger.
One debt remaining. Home improvement loan. 13 months left.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 £103000
November 2021 £93000
December 2022 £79000
December 2023 £73000
March 2024 £70000
May 2024 £68000
October 2024 £65000
February 2025 £63000
March 2025 £45000, interest of £6.07 per day
November 2025 £41000, interest of £5.62 per day
March 2026 £38000, interest of £5.22 per day
July 2026 mortgage of £34,000 and interest of £4.97 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 £103000
November 2021 £93000
December 2022 £79000
December 2023 £73000
March 2024 £70000
May 2024 £68000
October 2024 £65000
February 2025 £63000
March 2025 £45000, interest of £6.07 per day
November 2025 £41000, interest of £5.62 per day
March 2026 £38000, interest of £5.22 per day
July 2026 mortgage of £34,000 and interest of £4.97 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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