Ninety months to pay off mortgage - or as near as dammit!
Comments
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No!!!!
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 [email protected]. All views are my own & not the official line of Money Saving Expert.Lou~ Debt free Wanabe No 55 DF 03/03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free February 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.It starts with you, it starts from now. *** It is ok to be me.*** ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***Weight loss. ** 2 stone 7 lbs.***2 -
But how much worse would the remortgage impact have been if you hadn’t been OPing?skint_spice said:NSD 4! Got payslip today so budget for next month worked out.
Just realised that my remortgage has taken my progress off and I am right back at the start ending in April 36 againIf it makes you feel any better, I have only *just* started to make inroads into reducing the term in spite of OPing, after catching up from where we had to take a 3 month mortgage holiday when I was on furlough …. 😊🤷♀️KKAs at 28.08.2023:
- £16,241 of target £10,000 YNAB savings pots and EF
- When bought house £315,995 mortgage debt and end date at start = October 2039 <gulp>, now £265,505 end date reduced by 1 month (been catching up mortgage holiday during furlough)
- OPs to mortgage = £4,952 to date
- LTV 52% @ccord, 51% Yopa
Fixed rate 2.17% deal ends October 2024
Proud member of Tilly-Tidy Club since January 2022:
TOTAL for 2022 = £2,008.67
Jan ‘23 £50.53, Feb £2.52, Mar £55.40, Apr £265.15, May £101.25, Jun £708.10, Jul £3.93, Aug £2.02
Read 46 books of target 52 in 2023 (Last updated 28th September).
Produce tracker: £153.94 of £100 target 😊
Watch your thoughts, they become your words. Watch your words, they become your actions. Watch your actions, they become your reality.2 -
I am afraid so Beanie!
Absolutely KK, I think it sets it back automatically but the repayment amount would have been much higher if I hadn’t OPed, main issue is interest almost doubling…Original Mortgage End Date: Apr 36/Aiming for Sep 28/Current April 36
Car loan £5834/10000 CC £20502 -
Sorry about the mortgage date. Frustrating for you.Target 1) Prioritise health & social connection 2) Write regularly 51,745/70,000 words Book 2 and 10,787/70,000 Priestess book, 44,000/95000 Memoir Prep 3) Get to £10K EF/Savings Now £7,028) MFW starting at £201,999 Nov 21 with 264 242 payments to go. Now £187,692 5) Mortgage neutral progress via pension £5,487 invested since Nov 21 6) Declutter - done 7) Invest in fun and frolics - and not just future self! 8) CC Debt free April 22 (now stay that way!!)2
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That’s what I’m scared of come October 2024 when we will have to remortgage ….
KKAs at 28.08.2023:
- £16,241 of target £10,000 YNAB savings pots and EF
- When bought house £315,995 mortgage debt and end date at start = October 2039 <gulp>, now £265,505 end date reduced by 1 month (been catching up mortgage holiday during furlough)
- OPs to mortgage = £4,952 to date
- LTV 52% @ccord, 51% Yopa
Fixed rate 2.17% deal ends October 2024
Proud member of Tilly-Tidy Club since January 2022:
TOTAL for 2022 = £2,008.67
Jan ‘23 £50.53, Feb £2.52, Mar £55.40, Apr £265.15, May £101.25, Jun £708.10, Jul £3.93, Aug £2.02
Read 46 books of target 52 in 2023 (Last updated 28th September).
Produce tracker: £153.94 of £100 target 😊
Watch your thoughts, they become your words. Watch your words, they become your actions. Watch your actions, they become your reality.1 -
Hopefully things might have improved by then, they went down a bit from when I started looking earlier in the year.KajiKita said:That’s what I’m scared of come October 2024 when we will have to remortgage ….
KKOriginal Mortgage End Date: Apr 36/Aiming for Sep 28/Current April 36
Car loan £5834/10000 CC £20501 -
But I am determined I will still get there!savingholmes said:Sorry about the mortgage date. Frustrating for you.Original Mortgage End Date: Apr 36/Aiming for Sep 28/Current April 36
Car loan £5834/10000 CC £20502 -
Cheering you on SkintSpice! 🎉🥳🎊👏😊skint_spice said:
But I am determined I will still get there!savingholmes said:Sorry about the mortgage date. Frustrating for you.
KKAs at 28.08.2023:
- £16,241 of target £10,000 YNAB savings pots and EF
- When bought house £315,995 mortgage debt and end date at start = October 2039 <gulp>, now £265,505 end date reduced by 1 month (been catching up mortgage holiday during furlough)
- OPs to mortgage = £4,952 to date
- LTV 52% @ccord, 51% Yopa
Fixed rate 2.17% deal ends October 2024
Proud member of Tilly-Tidy Club since January 2022:
TOTAL for 2022 = £2,008.67
Jan ‘23 £50.53, Feb £2.52, Mar £55.40, Apr £265.15, May £101.25, Jun £708.10, Jul £3.93, Aug £2.02
Read 46 books of target 52 in 2023 (Last updated 28th September).
Produce tracker: £153.94 of £100 target 😊
Watch your thoughts, they become your words. Watch your words, they become your actions. Watch your actions, they become your reality.2 -
Got a night out in the big city tonight with a friend,we are both driving so as long as I don't get a parking ticket it should be a cheap night out with good company and music. Going swimming tomorrow with another friend so again a cheap day with good company. I feel like I have just worked for days on end and need some fun!
Still what iffing as I wait for a reply on my pension, hope I haven't overestimated....
Original Mortgage End Date: Apr 36/Aiming for Sep 28/Current April 36
Car loan £5834/10000 CC £20502 -
Hope you have a fantastic weekendTarget 1) Prioritise health & social connection 2) Write regularly 51,745/70,000 words Book 2 and 10,787/70,000 Priestess book, 44,000/95000 Memoir Prep 3) Get to £10K EF/Savings Now £7,028) MFW starting at £201,999 Nov 21 with 264 242 payments to go. Now £187,692 5) Mortgage neutral progress via pension £5,487 invested since Nov 21 6) Declutter - done 7) Invest in fun and frolics - and not just future self! 8) CC Debt free April 22 (now stay that way!!)2
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