The 17 Year Goal ....

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24

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  • Want2BeFree
    Want2BeFree Posts: 18 Forumite
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    Paying the deposit, stamp duty, and solicitor's fees tonight. Don't think I've ever made such a big bank transfer before!
  • killerpeaty
    killerpeaty Posts: 2,646 Forumite
    First Anniversary Name Dropper First Post
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    When I paid my deposit over it was pretty shocking and I had to eat ice cream. You're so close now!

    My mortgage also skipped the first month, so maybe yours will as well.
  • BVic28
    BVic28 Posts: 97 Forumite
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    Good luck with the completion/move! I’ll be following along on your journey to mortgage freedom
    Mortgage balance as of end of Dec 19 - £120,675
    MFW 2020 challenge #35 £94.62/£750; Jan running total - £94.62
    Save 12k in 2020 challenge #34 £560.20/£6000; Jan running total - £560.20
  • Want2BeFree
    Want2BeFree Posts: 18 Forumite
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    The mortgage account has appeared in my online bank account.

    It shows a current balance of £0!!

    I hope it isn't too long until I see that again.
  • BVic28
    BVic28 Posts: 97 Forumite
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    Must be lovely seeing that £0, even if you knowits going to increase shortly. Great motivation for continuing overpayments though!
    Mortgage balance as of end of Dec 19 - £120,675
    MFW 2020 challenge #35 £94.62/£750; Jan running total - £94.62
    Save 12k in 2020 challenge #34 £560.20/£6000; Jan running total - £560.20
  • Grumpyoldmoo
    Grumpyoldmoo Posts: 430 Forumite
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    Oh god, as a ‘wife of’, I remember the magnolia paint of married quarters in Germany (Bunde & Detmold). We too banned it from our own house on exiting military life :D
    Feb'15 £118411.00 Jan '16 £112665.10 Jan 17 £106790.00, Jan 18 £99268.10 April ‘19 £57052.26, Oct ‘20 £46015.42 £2.00 Savers Club, 🎖, 2015 £332, 2016 £356, 2017 £312, 2018 £254, 2019 £668, 2020 £880.00, 2021 £104, 2022 £158, 2023 £68, 2024 Emergency Fund £2500/£1000 :j
  • Want2BeFree
    Want2BeFree Posts: 18 Forumite
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    Grumpyoldmoo - just bought a small tub of magnolia in order to patch up the few holes were we had pictures etc... last time I will ever touch the stuff! (unless I become a BTL landlord in the future, but that is a different discussion all together).

    So my online bank account now shows the mortgage balance of £235000, and is growing by just over £13 per day to reflect the interest added. Dose anyone know if I just do an online transfer will it pay down the principal, or just the interest that has been charged? its with Nationwide if that makes any difference?
  • twinklie
    twinklie Posts: 5,052 Forumite
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    Welcome to the club. We took out the exact same mortgage amount in Oct last year. We are in our forever home and absolutely love it. We aim to pay ours of in a maximum of 18 years. But I’m aiming for a bit faster tbh.
    Reduction in daily mortgage interest since October 23 - £0.31 (started new mortgage)
    % of house owned/% of mortgage paid off. December 23 - 32.30%/24.54%
    MFiT-T6 #5
    MFW 2024 #6
    MF Date: Oct 37 May 37
  • BVic28
    BVic28 Posts: 97 Forumite
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    My mortgage is with Halifax and whenever I’ve overpaid the amount has come off the remaining balance and then interest has been charged as a separate amount - does that help? (I can’t work out if I’ve fully understood the question)
    Mortgage balance as of end of Dec 19 - £120,675
    MFW 2020 challenge #35 £94.62/£750; Jan running total - £94.62
    Save 12k in 2020 challenge #34 £560.20/£6000; Jan running total - £560.20
  • Want2BeFree
    Want2BeFree Posts: 18 Forumite
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    We got the keys on Monday! Whooh!!

    Still in the process of moving - should be all done by the end of the weekend.

    Bit the bullet and have made the first over payment. Transferred £300 online.
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