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2025 Mortgage-Free Wannabes

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Comments

  • Shal1160
    Shal1160 Posts: 60 Forumite
    Fifth Anniversary 10 Posts Name Dropper
    Happy new year everyone! #29 checking in with a January overpayment of £170.27, feeling like my goal was a little ambitious but let's see... Thank you Julicorn! :smile:
    Mortgage start: Sept 2018 £140,000 (30 years) Sept 2020: £129,131 
    Sept 2021: £121,000 (remortgaged for 22 years), Sept 2022: £111,009, Sept 2023: £101,700, Sept 2024: £94,405
    Current: £86,450 (Jul 25)
    MFW 2025 #29
    Just keep swimming
  • Cartmay
    Cartmay Posts: 11 Forumite
    Tenth Anniversary 10 Posts Photogenic Name Dropper
    Hi @julicorn

    i would like to overpay by £14755 this year please 😊 so please log that as my total overpayment and I’ll chip away at it. Do I let you know each time I make an overpayment?
    thank you for organising this, what a 🌟 you are 😊
    £150700 at 1jan 25. 
    MFW #42
    TARGET OF £14755 OP in 2025
    09/01 £100/£14755

  • Jemma01
    Jemma01 Posts: 397 Forumite
    Fourth Anniversary 100 Posts Name Dropper
    Hello, can you add me please? I want to target 50k this year.
    Note:
    I'm FTB, not an expert, all my comments are from personal experience and not a professional advice.
    Mortgage debt start date = 25/10/2024 = 175k (5.44% interest rate, 20 year term)
    Q4/2024 = 139.3k (5.19% interest rate)Q1/2025 = 125.3k (interest rate dropped from 5.19% - 4.69%)
    Q2/2025 = 108.9K (interest rate 4.44%)
    Q3/2025 = 98.5k (interest rate dropped from 4.44% to 4.19%)
  • julicorn
    julicorn Posts: 2,591 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
    Cartmay said:
    Hi @julicorn

    i would like to overpay by £14755 this year please 😊 so please log that as my total overpayment and I’ll chip away at it. Do I let you know each time I make an overpayment?
    thank you for organising this, what a 🌟 you are 😊
    Yeah that's right, just post in here each time you make an overpayment, and ideally include your total for the month as well in case you're making more than one a month :) Thanks for joining, you've got #42.
  • julicorn
    julicorn Posts: 2,591 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
    Jemma01 said:
    Hello, can you add me please? I want to target 50k this year.
    Sure thing, welcome to the challenge! I've given you number 46. 
  • gih
    gih Posts: 55 Forumite
    Second Anniversary 10 Posts Name Dropper
    Hi @julicorn , I'd like to join again,and happy to keep #57.  My target for 2025 is £7000.  
    Overpayment for January is £500.
    Thanks!
  • julicorn
    julicorn Posts: 2,591 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
    gih said:
    Hi @julicorn , I'd like to join again,and happy to keep #57.  My target for 2025 is £7000.  
    Overpayment for January is £500.
    Thanks!
    That's all logged, thanks for taking part again :) 
  • Hiya can I join please? Looking to clear my mortgage this year, current outstanding is 96.5k
  • julicorn
    julicorn Posts: 2,591 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
    Hiya can I join please? Looking to clear my mortgage this year, current outstanding is 96.5k
    Of course you can. Can you let me know what you'd like me to put as your target for overpayments this year? Then I'll allocate you a number :) If you just want me to put the full amount then that's fine too, just asking because most participants track their overpayments specifically to make sure they're on track. 
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