Mortgage free by 2025 14 February 2022 at 2:10PM in Mortgage-free wannabe 319 replies 11.2K views

Mickyh-s

Dh just sent £200 over to op on the mortgage. He usually saves for holidays, entertainment, birthdays, Christmas and home improvements so I was not expecting this op today! 😁

Mickyh-s

On target to be under 60k by end of July but I don’t think I can get to 10% off mortgage balance. I’m going to see if dh has any spare cash! He has a stash in his pot to finish the garden and there may be some spare. Will have to wait until the garden is all finished in a couple of weeks.

Easter is coming but we have no plans other than to stay local. I will tidy the garden if it is dry and clean out the garage and shed. The driveway will need a clean and the front and side gardens too. I am also on a decluttering mission so that continues ready for a car boot when the weather warms up a bit.

Our holiday to Spain in June is booked and paid for. I’m determined not to take too much stuff and I really don’t need to buy anything new for this trip other than sun cream.  Like most, we haven’t had a holiday for three years and all I want is some sun and have someone else cook and clean for me.  Other than a little sightseeing, I plan to spend a lot of time on my sunbed!

try_harder

Wow thats a massive amount in one year .Well done you !

Mickyh-s

Monthly payment came out of the mortgage account today so the balance now stands at £64,148.00.

No more op until the end of April now but I’m going to see if dh has any spare cash once the garden is all finished at the end of next week. We have the guys in laying the new patio at the moment. Depending on how much it all costs, there may be a few pennies spare in the pot once they have been paid.

No plans for this weekend which is good as it means I won’t spend any money! Will continue with the decluttering and adding stuff the car boot pile. If the forecast is good, I will try to do a car boot this month as I have enough stuff and can maybe make some extra cash to pay off my CC.

Council tax rebate due in from the start of April. I will use it to pay off my cc. I need my money to last this month otherwise, I end up putting stuff on the cc and then using spare money from next month’s wages (which is supposed to be to op on the mortgage) to pay the cc instead!

Have a good weekend!

L9XSS

Great progress you are making! I can see how determined you are to hit your goal. Seems like you have a good balance between overpayments and ensuring you enjoy free time. It’s fantastic when you see the Mortgage balance drop! I’m at 33k with a LTV of 12%. Im planning on being MF in May 2023. Enjoy Spain when it comes!

Mickyh-s

Yes, It's a great incentive seeing the mortgage balance drop @L9XSS.  Reading other people's diaries and keeping a diary really helps too even if i don't get many visitors! That's a great LTV - i will need to work mine out. WOW, 14 months to go for you, how exciting!

jennystarpepper

I think you are doing an amazing job, I'm hoping to be in the 40 something K range sometime this year.

I try and chip away at mine daily, probably like you I am counting down the days until it is gone.

Mickyh-s

Thank you @jennystarpepper. I can't wait - I'm already planning what to do with the money when it's gone. I feel like the mortgage is a noose around my neck! 

jennystarpepper

I discussed this with my partner this week, with OP's and regular payments its about 4k since 1st Jan.

I know where you are coming from about wanting it gone and what you are going to do with the extra dosh.  I'm going on holiday soon, I got excited when I found out one of the receipt app's accepts my Spanish supermarket receipts, more free pennies to pay it off!   

Mickyh-s

I was going to turn the heating off from last night but we have had some really cold mornings and a few more to come too so I compromised and switched the heating off in the evenings only to offset the tariff increase. We have a log burner we can use but saying that, we are almost out of logs. I often go up to bed to watch tv and keep warm with the electric blanket on. 

I have been charging my phone up at work instead of at home overnight. We have three TV's which can only be turned off on standby so I have been switching off at the wall instead. Being careful with electric and gas means our bills have not increased too much over the winter. 

There are lots of ways I could be more frugal so will start making more of an effort. It's actually a challenge I enjoy. I take meter readings every month and then challenge myself to do better next month. I haven't used the tumble dryer much in the last few months.

The log burner is going out and I'm saving some logs for tomorrow and Sunday so I'm going to watch tv in bed with my electric blanket. Night, night! 🛌