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  • pawlala
    • #0
    • 31st Dec 13, 8:12 AM
    • 31st Dec 13, 8:12 AM
    Morning + happy new year everyone,

    I'm mortgage free!

    I made my last payment this morning after ringing to find out closing balance. I have cleared my 71,000 mortgage in 12 months after some careful money management involving high interest accounts, ISAs, reward accounts, lots of money saving coupons, glitches, ditching and/or switching, frugal (but not overly so) living, one or two successful parking appeals and overpayments.

    What my MFW2013 payment calculations haven't taken into account are the monthly payments less interest, which reduced my mortgage by 1619.69 before overpayments. This leaves required overpayment for December of 6233.39 which I completed this morning with a final overpayment of approx 350. Spreadsheet updated, target reached 100%.

    This has been my second mortgage I have cleared. I haven't joined MFW2014 but who knows in the future, I might be joining MFW2017 or something - I don't consider this house as my forever home so I may climb the housing ladder yet further. But I intend to save a fair bit over the next few years before that happens. And even do things I've never done before like dabbling in stocks and shares. Improving my pension is a must too.

    Hope everyone has a great night for NYE, I might grab some bubbly from stressco's, I'm sure I have a money off coupon somewhere........

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