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Mortgage free in Forever Home :-)
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Hi @badmemory - I call that ‘sod’s law’!! 😉😂
@redofromstart I would love to track the difference on the daily interest paid, but I am ashamed to admit (after all these months here! ) that I can’t work out how to calculate it 🫢 <ahem …. >On £5.96 from QMee surveys so far this week. It looks,like it’s not worth bothering with over the weekend, but the week has gone quite well so far 😊
KKAs at 15.07.25:
- When bought house £315,995 mortgage debt and end date at start = October 2039 - now £233,521
- OPs to mortgage = £11,816 Interest saved £5,28 to date
Fixed rate 3.85% ends January 2030
Read 40 books of target 52 in 2025, as @ 29th July
Produce tracker: £243 of £300 in 2025
Watch your thoughts, they become your words.
Watch your words, they become your actions.Watch your actions, they become your reality.2 -
I can’t find this. I’ve looked on the Mortgage board but am I not looking very well?redofromstart said:Started off aiming for 1%, on the 1% thread.
KKAs at 15.07.25:
- When bought house £315,995 mortgage debt and end date at start = October 2039 - now £233,521
- OPs to mortgage = £11,816 Interest saved £5,28 to date
Fixed rate 3.85% ends January 2030
Read 40 books of target 52 in 2025, as @ 29th July
Produce tracker: £243 of £300 in 2025
Watch your thoughts, they become your words.
Watch your words, they become your actions.Watch your actions, they become your reality.2 -
It's really easy - what's your mortgage balance and rate?KajiKita said:@redofromstart I would love to track the difference on the daily interest paid, but I am ashamed to admit (after all these months here! ) that I can’t work out how to calculate it 🫢 <ahem …. >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!!!2 -
When I looked last weekend it was c. £282,389 and we are currently on a 2.17% rate.South_coast said:
It's really easy - what's your mortgage balance and rate?KajiKita said:@redofromstart I would love to track the difference on the daily interest paid, but I am ashamed to admit (after all these months here! ) that I can’t work out how to calculate it 🫢 <ahem …. >
KKAs at 15.07.25:
- When bought house £315,995 mortgage debt and end date at start = October 2039 - now £233,521
- OPs to mortgage = £11,816 Interest saved £5,28 to date
Fixed rate 3.85% ends January 2030
Read 40 books of target 52 in 2025, as @ 29th July
Produce tracker: £243 of £300 in 2025
Watch your thoughts, they become your words.
Watch your words, they become your actions.Watch your actions, they become your reality.2 -
OK, so you need to multiply £282,389 by 0.0217 (your interest rate as a decimal) = £6,127.84 annual interest ÷ 365 = £16.79 daily interestMortgage 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!!!1 -
Oh, good grief! It really is easy!!! Doh!! Thank you!!South_coast said:OK, so you need to multiply £282,389 by 0.0217 (your interest rate as a decimal) = £6,127.84 annual interest ÷ 365 = £16.79 daily interest
So, if I look at our opening balance of £315,000 the daily interest rate would have been:
£315,000 x 0.0217 / 365 = £18.72?
KKAs at 15.07.25:
- When bought house £315,995 mortgage debt and end date at start = October 2039 - now £233,521
- OPs to mortgage = £11,816 Interest saved £5,28 to date
Fixed rate 3.85% ends January 2030
Read 40 books of target 52 in 2025, as @ 29th July
Produce tracker: £243 of £300 in 2025
Watch your thoughts, they become your words.
Watch your words, they become your actions.Watch your actions, they become your reality.2 -
Yep 👍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!!!2 -
As at 15.07.25:
- When bought house £315,995 mortgage debt and end date at start = October 2039 - now £233,521
- OPs to mortgage = £11,816 Interest saved £5,28 to date
Fixed rate 3.85% ends January 2030
Read 40 books of target 52 in 2025, as @ 29th July
Produce tracker: £243 of £300 in 2025
Watch your thoughts, they become your words.
Watch your words, they become your actions.Watch your actions, they become your reality.2 -
Done a £7.06 OP from Qm33 surveys for the week 😊
Nice way to end the week.
KKAs at 15.07.25:
- When bought house £315,995 mortgage debt and end date at start = October 2039 - now £233,521
- OPs to mortgage = £11,816 Interest saved £5,28 to date
Fixed rate 3.85% ends January 2030
Read 40 books of target 52 in 2025, as @ 29th July
Produce tracker: £243 of £300 in 2025
Watch your thoughts, they become your words.
Watch your words, they become your actions.Watch your actions, they become your reality.2 -
It's on the mortgage free diaries, now on page 2, I tagged you in a comment on it. It helped me to change my mind set to make OPs a priority.KajiKita said:
I can’t find this. I’ve looked on the Mortgage board but am I not looking very well?redofromstart said:Started off aiming for 1%, on the 1% thread.
KKMy mortgage free diary: https://forums.moneysavingexpert.com/discussion/6498069/whoops-here-comes-the-cheese
GNU Mr Redo2
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