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DONE IT Mortgage/Debt free in 11months!
smiths
Posts: 2 Newbie
How did we do it????
Would never have succeeded if Martin had come up with all his advice!!:money:
Started with £15,340.00 left with 9 yrs to repay.
First decision was no holidays for a yr...YUK!
Next made a claim for a mis sold endowment - £3,300 (Paid this off mortgage capital!)
Next cashed in the endowment - £8000 - Used £5000 to pay off bank loan. (bank loan payments were £550 per month) - £3000 of Mortage Capital
Cash ISA came out and used the £3000 to pay off some more capital
This left a balance of - £6040 approx..
Already had no Credit\store cards - got out of those along time ago....:D
Changed all utilities and saved around £100 per month!
Then made mothly payments of the £220 plus the extra £550 and the £100. New Mortgage payment of £870 plus anything we had left at the end of the month!!
Took 11 months to be mortgage and debt free - No savings though, but with approx £1000 per month better off, this will soon grow!
1 week since the big event and still feeling brill - Thanks Martin!!
Would never have succeeded if Martin had come up with all his advice!!:money:
Started with £15,340.00 left with 9 yrs to repay.
First decision was no holidays for a yr...YUK!
Next made a claim for a mis sold endowment - £3,300 (Paid this off mortgage capital!)
Next cashed in the endowment - £8000 - Used £5000 to pay off bank loan. (bank loan payments were £550 per month) - £3000 of Mortage Capital
Cash ISA came out and used the £3000 to pay off some more capital
This left a balance of - £6040 approx..
Already had no Credit\store cards - got out of those along time ago....:D
Changed all utilities and saved around £100 per month!
Then made mothly payments of the £220 plus the extra £550 and the £100. New Mortgage payment of £870 plus anything we had left at the end of the month!!
Took 11 months to be mortgage and debt free - No savings though, but with approx £1000 per month better off, this will soon grow!
1 week since the big event and still feeling brill - Thanks Martin!!
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