Giving it a go!

Done it done it done it!!!

10% has gone! Yeay!

I also paid off an extra month at a charge of £3, but it was more than worth it. I've saved a full month's interest, so I don't feel too bad for "wasting" it.

I'd like to see how the mortgage pans out now. I think I may monitor it for the next month or two and work out if the charges are money saving in comparison to the interest it would cost me. I wonder if anyone else has any experience of this way of working?

In the meantime, happy days for me! Feeling very proud of myself!

Hello!

Just in case anyone is following this thread, I thought I should give an update.

I'm very proud of myself today. I have had the house in my sole name for three years this month.

As I have said before, it was given to me with a term of 33 years and 3 months and I was mortified.

After struggling and saving and barely spending anything, today I have managed to throw everything I had at it, and it's down to 3 years and 6 months!!!!

That's almost 30 years erased!!!! I'm over the moon! I have a way to go, but the end is very clearly in sight! Go me!!!! ��

Thank you all!! Your praise means a lot to me. It has been really hard going for my children and I. I'm on minimum wage, too, so paying for three growing teens in itself is hard going, never mind being able to put a bit in the pot too!

We are currently on a DIY holiday to London, including the Harry potter tour, so we celebrated paying off the extra on the house in style! Expenses from the past few months paid for the petrol and the tickets, and then we have done everything that's free, walked for miles, to look at all the poignant places, and packed sandwiches to eat in the park at lunchtimes. It's been brilliant spending time with them all instead of working all the hours I could to make ends meet.

Back to the house..... I'm hoping to get another 1k gone by Christmas. It doesn't give me much time but I think it could be doable.

I am moving over onto a tracker so interest is higher but I'm allowed as many overpayments as I can manage, so I think that will overcompensate for the addition percentage. It's a bit scary, knowing my rate can change at any time, but if it goes too crazy the Spanish bank said I can move onto a fixed if I need to.

Here's to the next leg of my journey. Wishing you all well on yours!

Hi Watty1. Thank you! I feel like I have achieved the unachievable!!!

I considered a card, or even a loan from family for the final bit, but I still have to pay it off, so I decided just to stick where I am for now. Stubborn, perhaps, but after being told by the Spanish bank I wasn't financially viable, now I totally intend to prove them wrong! If I keep the term for the 3.5 years with no overpayments, interest is 600 quid. I fully intend to overpay so that interest will be halved at very least! :j I don't like debt of any kind and if I have to do it I will, and pay it as fast as I can, but if I don't, I keep my distance as much as possible!

I have just called the bank. The overpayment is sat there, but not yet applied and I wanted to know why. It seems they had made an error, and put a block on it :mad:

They are going to recalculate the interest I would have saved had they taken the amount off on Thursday when they received it, and recoup that. It seems things are never straight forward!

I also made enquiries into the account fee, again, just to be clear. I can pay that at any time so perhaps I will make that vanish once the term changes next month to the tracker. I'm not allowed to make any more overpayments until 03/09, otherwise it will compromise the deal, and all it takes is someone to apply it to the wrong place.

The next challenge is the 1k Christmas Crunch! I'm a mixture of things, elated, frightened, skint..... :rotfl: but I'll try to do it!