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Mortgage free in Forever Home :-)
Comments
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Felling demoralised this morning.Woken up early, an hour before the alarm, with earache in both ears and a swollen throat. Will this bug EVER end …? 😢
Hoped to see a decent drop in our mortgage balance today (I have paid in the monthly payment plus the additional £2K since the last balance update) but I am obviously underestimating how much the increased interest is costing us on our new deal so we are still above £240K. Have updated signature.Gonna go off and sulk now … 🙄
KKAs at 17.04.26:
- When bought house £315,995 mortgage debt and end date at start = October 2039 - now £216,847
- OPs to mortgage = £18,925 Estd. interest saved = £9,670 to date
c. 16 months reduction in term
Fixed rate 3.85% ends October 2030
Read 30 books of target 52 in 2026 as @ 4th May.
Produce tracker: £93 of £400 in 2026
Watch your thoughts, they become your words.
Watch your words, they become your actions.Watch your actions, they become your reality.6 -
Get well soon, @KajiKita. So many horrid lergies still doing the rounds.
F x2026's challenges: 1) To rebuild our Emergency Fund to at least £5k.
2) To read 50 books (12/50) 3) The Re-Shrinking of Foxgloves 8.1kg/30kg
Remember....if you have to put it on a credit card, extend your overdraft or take out a loan to buy whatever it is, you probably can't afford it, as that's not your money, it's somebody else's!1 -
Oh KK it sounds like you and I have had the same bug. Every time I think it's gone a new symptom comes out! Hope it passes for you soon and that both of us are back to full health! ❤️🩹Emergency Fund goal - £1000/2000
Mortgage OP goal 2026 - £1200/£4500
Read 24 books this year 14/241 -
Sending you good will vibes. Sometimes I feel like that when I look at the savings pot, will it ever increase??? but we both know that will increase as your mortgage will fall. hang in there!Made it to mortgage free but what a muddle that became
In the event the proverbial hits the fan then co-habitees are better stashing their cash than being mortgage free !!1 -
February is a short month. You will soon be below £240. We all believe in you ( but I also believe in the PB 🧚♂️).
It is so annoying when your sums don't add up, but think of that £2k you will no longer be paying interest on next month, or the month after... (forever!).
Just check that you are paying it off the capital, not the interest. For some unfathomable reason that is a thing.4/10/25Three Years Mortgage Free Yay!
NSTurtle # 55 🐢 🐢 🐢 🐢 🐢 🐢🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢🐢🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢
No Turtle gets left behind.[/b]
******PROUD MEMBER OF THE TOFU EATING COALITION OF CHAOS !!!******1 -
Because it works in the banks' favour...f0xh0les said:Just check that you are paying it off the capital, not the interest. For some unfathomable reason that is a thing.
I was confused the first time I made an OP that they reduced my regular payment (this was a long time ago, on my first mortgage), which is when I found out about changing the settings so that all OPs come off the capital and reduce the term. Quite often I find that I go under a number on the day the payment is made, and then it sneaks up again as the interest accumulates during the month.0 -
Can I ask how you can ensure that the OP is deducted from the capital rather than the interest..? Is it possible to request this with all mortgage providers?greenbee said:
Because it works in the banks' favour...f0xh0les said:Just check that you are paying it off the capital, not the interest. For some unfathomable reason that is a thing.
I was confused the first time I made an OP that they reduced my regular payment (this was a long time ago, on my first mortgage), which is when I found out about changing the settings so that all OPs come off the capital and reduce the term. Quite often I find that I go under a number on the day the payment is made, and then it sneaks up again as the interest accumulates during the month.2 -
Not sure how you do it with all of them. I think I either called or did it in the branch initially, but now it’s an option in the online banking system (although I have no clue where to find it, I expect I would eventually).LilSmiler said:
Can I ask how you can ensure that the OP is deducted from the capital rather than the interest..? Is it possible to request this with all mortgage providers?greenbee said:
Because it works in the banks' favour...f0xh0les said:Just check that you are paying it off the capital, not the interest. For some unfathomable reason that is a thing.
I was confused the first time I made an OP that they reduced my regular payment (this was a long time ago, on my first mortgage), which is when I found out about changing the settings so that all OPs come off the capital and reduce the term. Quite often I find that I go under a number on the day the payment is made, and then it sneaks up again as the interest accumulates during the month.2 -
Yes it is. Always worth ringing and making sure that all future o/p will come off capital, and confirming that the 10% permitted annual o/p is 10% of the original amount borrowed, or if it is 10% of what is left annually.LilSmiler saidCan I ask how you can ensure that the OP is deducted from the capital rather than the interest..? Is it possible to request this with all mortgage providers?4/10/25Three Years Mortgage Free Yay!
NSTurtle # 55 🐢 🐢 🐢 🐢 🐢 🐢🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢🐢🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢 🐢
No Turtle gets left behind.[/b]
******PROUD MEMBER OF THE TOFU EATING COALITION OF CHAOS !!!******2 -
Feel better soon.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. 19months left.1
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