On the way to mortgage free by 30!

Groovy_Chick_

Hi Everyone, 

I am new to posting a thread so please bare with me, I am 26 and have been in my current property since I was 22, I have £48,500 left on my current mortgage and my property value is £350,000. Obviously by over paying so largely I have incurred a few fees but this is nothing compared to paying the mortgage back over the initial 35 year period. I want to clear this by age 30, I feel I have done well so far as I have had no help from anyone apart from working hard and sacrificing a life in order to do this. I have had no inheritance either, just a strong work ethic. 

This journey has meant a lot of nights in relaxing instead of going out with friends, no new clothes, getting rid of my car etc, shopping reduced stickers and meal prepping/ batch cooking. 

I just wanted to share my story and hopefully people can give me some tips to speed up mortgage free and anything you do to help you pay more to your mortgage. 

I should add that I live alone and bought this house in my sole name and will never add a partner to my mortgage nor will I ever live with a partner again. This is my security blanket for life after coming from an upbringing where we moved all the time and had no stable roots, messy finances and struggling to get by.

Thanks, 

GC 

Jessy103

Congratulations on doing so well! Good luck on the rest of your mortgage free journey 🙂

beanielou

Happy shiny new diary.
Look forward to following your journey.

Groovy_Chick_

Thank you both. Do I continue to update this thread as I go along or make a new one to keep everyone updated 🙂 GC

beanielou

Groovy_Chick_ said:

Thank you both. Do I continue to update this thread as I go along or make a new one to keep everyone updated 🙂 GC

Best to update your thread as it is in the diary part of the forum.

BikingBud

Sounds like a great achievement, chopping down from 35 years to 8 is brilliant, well done.

South_coast

I'm not sure you need any tips, it sounds like you are doing fabulously already! What are your plans for your money post-MF?

Hopingforthesimplelife

As above, very impressive!

Groovy_Chick_

Thank you all, and @South_coast - I am thinking saving to travel the world not having to be on a budget and do it in luxury, I havent had a holiday or day out since I bought this place so would be wonderful to go and be worry free

jokono

Great goal to work towards, you are doing so well! But can I ask, how did you pay almost 300k in 4 years? I imagine the house price went up as well, but even with only say 200k paid off that's 50k a year. How did you make so much money, what's the secret? 😆

South_coast

Wow, that sounds like an amazing goal. Keep going 😀!