Plan for a Sea View - Take 3

Sugarplump

Made my normal monthly overpayment today, this month it was £950. Just waiting for them to process, this but should bring our balance down to below £8.5k, and hopefully reduced our term by 3months.

I've just seen the news that the BOE has reduced interest rates to 4.75%, might try contacting my mortgage company again to see if they will be changing their SVR. Not surprisingly last time it was reduced and I asked them why the SVR hadn't gone down they just responded to say that they hadn't yet made a decision on it. Funny that when interest rates were increased the SVR went up almost instantly!!

S

Sugarplump

We did it!!!!

Yesterday I made the final redemption payment on our mortgage. A few months earlier than expected as we had some money in a rainy day fund that we hadn't touched for well over 2yrs so as we each have our own savings in Premium Bonds and ISA's we decided to chuck it all at the mortgage.

Not really sure what I was expecting but it was a bit of an 'oh that's it' moment. No fanfares or fireworks. Haven't told anyone as didn't want people to think I was bragging.

Now to decide what to do with all the excess money in our budget each month. I did today see an advert for a 106 night world cruise that I may tempt the hubby into looking at for when our youngest is a bit older so we can go as just us two.

S

northwalesd

Congratulations!

ladybird1106

Fantastic news. We paid ours off last year. Such a great feeling to know that it’s all yours.
love 🐞

South_coast

Congratulations 🍾! It will take a while to sink in, and then eventually you'll find yourself one day thinking "Oh yeah, we had a mortgage 🤣" because you've completely forgotten about it! Very well done 😀

smetf

Brilliant, well done!
S

LadyWithAPlan

Brilliant news! Helped by the lottery win, but you obviously have done most the heavy lifting yourselves. 

Enjoy planning the cruises.

powerspowers

Wow well done!!! Definitely enjoy yourself for a while and have a think about the long term plans. Reducing night shifts sounds like a good plan for your husband, is there scope for him to change what he does altogether? Have you read some of the FIRE threads on here about early retirement? But definitely take some time to treat yourselves, don’t just rush into the next thing x