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    • Beckyy
    • By Beckyy 11th Jul 12, 12:22 PM
    • 2,753Posts
    • 4,170Thanks
    Goodbye Mortgage - the beginning of the end!
    • #1
    • 11th Jul 12, 12:22 PM
    Goodbye Mortgage - the beginning of the end! 11th Jul 12 at 12:22 PM

    I've been lurking for a while and have finally plucked up the courage to start my own diary.

    My OH and I moved into our current house a few months ago (it doesn’t feel that long!) We bought it for £125,000 and we have a mortgage with Woolwich for £102,000. It's a 3 year fixed at 4.28%.

    The section of our keyfacts stating 'For every £1 borrowed you pay back £1.59' is haunting me, and I'm determined not to have it hanging over us for 25 years. I've been toying with figures and I'm hoping we could do it in 10 years. This depends a lot on the future though. We know we want to have a family in the next few years which will mean our income could change hugely, but we'll plod along and see!

    My first challenge is finding out how to actually make overpayments on the mortgage. Woolwich seem to make it very difficult. I can’t view the mortgage online, so have been into Barclays and they have said I can bring in a cheque or cash to branch, but I was hoping they’d be a more convenient way as I don‘t go near the branch often. I’m going to call them today and hopefully find out!

    Wish me luck...
    Last edited by Beckyy; 18-10-2013 at 3:46 PM.
Page 27
    • Beckyy
    • By Beckyy 1st Aug 17, 8:43 AM
    • 2,753 Posts
    • 4,170 Thanks
    Just passed the £12,000 mark for total OPs!

    They've ground to almost a halt recently but I will keep them up, and hopefully they'll creep back up again as our £3000 goal this year isn't looking likely at the moment. There are quite a few things I'm splitting any leftover money between and with childcare and a reduced wage it's not what it used to be!

    I'm using quite a few more apps like receipt scanners and quizzes to earn vouchers or £, very small amounts but easy to do, hopefully they'll pay for presents through the year.

    I hope everyone is getting on well!
    Last edited by Beckyy; 01-08-2017 at 8:48 AM.
    • Beckyy
    • By Beckyy 7th Oct 17, 10:39 PM
    • 2,753 Posts
    • 4,170 Thanks
    Progress is slower once you become a parent I've found.

    £50 OP made this month. Slowly chipping away at the mortgage. I desperately want to save for a holiday as we've rarely gone away, and we need to save 'just in case' as our boiler is prehistoric and hasn't been too healthy lately. It's hard to know what to pay to where!

    I hope everyone is well
    • Silence101
    • By Silence101 8th Oct 17, 6:25 AM
    • 355 Posts
    • 551 Thanks
    Yes, especially when the children are very young! I didn't return to work after having mine as childcare would have wiped out my earnings. We've just got a mortgage, and we're planning to overpay but it's very much small amounts until youngest goes to school! I can only dream of paying £200+ on a regular basis (I think we might manage £100 if we're very careful)
    09/17 Shared Ownership 50% share - Mortgage £77500 Original MFW 2052
    17/18 OP £7700
    • lilmissmup
    • By lilmissmup 15th Oct 17, 11:50 AM
    • 6,814 Posts
    • 8,723 Thanks
    Yes, I am just currently trying to keep us out of debt and survive!
    Now a SAHM trying to earn some spare pennies each month
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