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Plan to be mortgage free in 5 years
sassman
Posts: 32 Forumite
Dropping by and saying hello!
Last year was all about clearing credit card debt - those nasties will be settled by Sept-2021 and the cards will used for day-to-day expenses, settled monthly to keep the credit history
I'm now looking forward to hammering the mortgage and own every brick by 2026.
Currently owe £94.7K @ 2.09% ending in June-2022.
Monthly payment is £746 / month.
LTV: 34%
From this month, I've started overpaying by £750 / month and will contribute lump sums taking me to the maximum allowed per year.
I'll update periodically as I go.
Take care all!
Last year was all about clearing credit card debt - those nasties will be settled by Sept-2021 and the cards will used for day-to-day expenses, settled monthly to keep the credit history
I'm now looking forward to hammering the mortgage and own every brick by 2026.
Currently owe £94.7K @ 2.09% ending in June-2022.
Monthly payment is £746 / month.
LTV: 34%
From this month, I've started overpaying by £750 / month and will contribute lump sums taking me to the maximum allowed per year.
I'll update periodically as I go.
Take care all!
2
Comments
-
Welcome and best of luckMortgageStart Nov 2012 £310,000
Oct 2022 £143,277.74
Reduction £166,722.26
OriginalEnd Sept 2034 / Current official end Apr 2032 (but I have a cunning plan...)
2022 MFW #78 £10200/£12000
MFiT-6 #28 £21,772 /£750000 -
Welcome to the MFW family
Maybe add a statement of affairs and people can help you streamline outgoings and maximise O/Ps0 -
Hi ElmoR, thanks for the Welcome!ElmoR said:Welcome to the MFW familyMaybe add a statement of affairs and people can help you streamline outgoings and maximise O/Ps
Really appreciate the suggestion of an SoA - I completed a very through review/action of finances last year whilst paying off credit cards. I now do what I term as maintenance reviews monthly.0
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