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  • pawlala
    • #0
    • 31st Dec 16, 6:43 PM
    Guess who's back... back again!
    • 31st Dec 16, 6:43 PM
    OK I’m resurrecting my diary because...

    I’m no longer mortgage free and I predicted this moment would come!

    I haven't joined MFW2014 but who knows in the future, I might be joining MFW2017 or something
    Originally posted by pawlala
    If you are not aware of my journey since 2009 I have paid off two mortgages before. The first 8 years ago and the most recent was four years ago today when I paid off the mortgage of my current property (New Year’s Eve 2013 )

    Since then, I have saved up a deposit to purchase an investment property locally, which will be rented out in the new year. Apart from a lick of paint and the relevant safety checks and certificates, it is ready to move into.

    My current mortgage is now approximately 150,000 and I aim to pay it off by end-December 2019. This will be a very tight deadline, but I like pushing myself to achieve stuff quickly, so I will be giving it my all. For 2017 and 2018 I can only pay off 10% per year so I will continue to invest money elsewhere until the shackles of a fixed term rate are removed. Hopefully rental income will also help me achieve my goal much quicker.

    My overpayment target for 2017 is 23k, which included some overpayments for this week before the 10% restriction kicks in on 1st Jan.

    Happy new year everyone!
    Last edited by pawlala; 31-12-2016 at 6:46 PM.
    Mortgage free I: 8th December 2009!
    Mortgage free II: New Year's Eve 2013!
    Mortgage free III: Est. Dec 2019...
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