Time to hit the Mortgage!

Novice_investor101

Not posted for many months but my mortgage renewal is approaching. I managed to get it below £48k (£47850 today) with one more payment to go before it renews. 

My new fix for 5 years is £357 a month compared to £315 currently but I’ll be maintaining a £400 static payment to keep overpaying. 

The last few months have been tough. Heating in December was £225 & January was £200. I turned it off as much as I could in February & it’s now off & has been since April. Slowly building a credit for next winter. 

I got a little puppy since I last updated this & had a shock when work stipulated we had to attend the office twice a week from the new year. This doubled my doggy daycare costs to over £250pm. But I also applied for a new job that pays more & now covers all the doggy costs. After the new mortgage starts, doggy costs, extra living costs & my new wage I’m in the same position I was in July 2022 in terms of disposable income. I’m still cutting back on some time but glad I made it where I am today. 

With more of my money going towards interest now I’m doubling down on saving more than spending & sending adhoc overpayments to the mortgage.