I wanna be mortgage free!

twinklie

Taking into account we didn't start OPing till September I don't think we did to bad.

Mortgage at start of January: £ 41'924.29
Overpayments in Blue.
Interest in Red.
Balance in Green.

Month: Payment (Std / OP) / Interest (per day) / Net reduction / Balance

January: 328.81
February: 328.81
March: 328.81
April: 328.81
May: 328.81
June: 328.81
July: 328.81
August: 328.81
September: 450.00 (328.81 / 121.19) / 183.83 (6.13) / 266.17 / 40'659.83
October: 450.00 (328.81 / 121.19) / £182.63 (5.89) / 267.96 / 40,391.28
November: 450.00 (328.81 / 121.19) / £180.33 (£6.01) / 269.67 / 39,877.33
December: 450.00 (328.81 / 121.19) / £179.12 (£5.78) / 270.88 / 39,606.45

Totals: Payment / Interest / Net reduction.

Grand Total: 4'430.48 / 2'112.45 / 2'318.03

Mortgage at end of December: £ 39'606.45

Still, new start and all that I'm going for 12 mths of basic OPing at the rate we have been doing anyway. So if that all goes to plan next year we will OP a total of £1'454.28. Any more will be a bonus. This should hopefully see us reduce the mortgage down to £36'259.38 by December next year - although I'm sure we could find an extra 259.38 and clear 36K...that would be amazing!!! A girl can dream!

Somehow...still just doesn't seem enough. There again, it would knock roughly £3'347.07 off the actual mortgage as well as the interest. I shouldn't complain really given we are still running 2 houses (given DH is living down in Wales mostly).

StuartGMC

Twinklie
Great to see the year end summary and the progress made. Very best wishes for 2010 and let's hope you'll smash those targets!

twinklie

I've decided not to do an official aims for 2010 post until my annual mortgage statement arrives...then I can sit and review things properly. But my unofficial aims are in my earlier post.

I'm feeling sick as a dog today...got an awful cold. Boo!! Still I'm managing to keep on with my list. I hope I'm not ill for when I get back to school though...that would be dire!!

twinklie

The lights have blown downstairs and we don't have any bulbs to replace them! I checked the circuit breakers and reset them...but every downstairs light has gone! Grr!

I hate New Year as it is...this has not improved my mood. To make it even better DH has gone round to his mates to celebrate New Year! Grr. Nevermind, I'll get a grip and sort my life out! :rotfl:

twinklie

Just looked at the car payments. We took out a loan for £5'500 after paying 3K in cash back in Feb (back when our car died a death). Since then the payments have been £127 per month. And it's set to run for 60 months so we'd pay back over the time £12'140.40! :eek:

Worth mentioning I guess the Car loan figure in my signature is what we owe should we let it run the full 60 months.

If we settled in May this year we'd have to pay £4'502.09.
August 2011 £3'312.78
November 2012 £1'873.32.

We have £4'800 in my ISA. So it's now about bulking this up to get this car paid off ASAP!! We want to keep at least 4K in there for emergencies really. However, we only have 15 months to get CC 1 paid off!

Now I have applied to do some exam marking, however, we want to use that money to put towards a holiday to the states next xmas hols. I'm not having a holiday this year and so should have money to put towards it by just not going away.

Having said that, the CC only reverts to 16.9% which is only 0.1% more than the car loan anyway! And the minimum payments will automatically get paid off that so it will be reduced down automatically!

We are currently paying an extra £58 per month on an insurance (until Feb) that we could then pay off the car loan instead - it's not like we'd notice the difference I imagine!

ajmoney

Happy New Year Twinklie

You seem to be pushing numbers out the same as me today.

twinklie

Right new Year and I'm debating a New Thread. Updated with where I'm at now. Didn't realise this one had gotten so long and that I've had it for nearly 2 years!! Not sure if it's just something else that might just clog up the boards though. What do we reckon?

I need to post my updates for 2010 anyway....but first to watch Dr Who!

twinklie

Never did watch Dr Who...still thanks to my christmas pressie it's all recorded and just waiting to be watched.

I can't believe how much of my list I've actually gotten through - I'm very proud of my little self. Yey me! Feeling the strain of the thought of going back tomorrow though. Boo! Don't want to work anymore!! I always feel like this after a 2 week holiday. Especially christmas when most of my family and friends are off as well.

twinklie

Mortgage at start of January: £ 39'606.45
Overpayments in Blue.
Interest in Red.
Balance in Green.

Month: Payment (Std / OP) / Interest (per day) / Net reduction / Balance

January: 450.00 (328.81 / 121.19) / £177.90 (£5.74) / 272.10 / £39,334.35

Totals: Payment / Interest / Net reduction.

Minimum: 450.00 / 177.90 / 272.10
Maximum: 450.00 / 177.90 / 272.10
Average: 450.00 / 177.90 / 272.10
Grand Total: 450.00 / 177.90 / 272.10

Balance outstanding: £39,334.35

StuartGMC

Hopefully return to work wasn't quite as bad as you feared?

That car loan is frightening; was it a dealer arranged "deal" or bank loan? Either way, I hope you can cut it down ASAP. Remember to think positive thoughts!