Getting rid of a London-sized Mortgage

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Comments

  • themadvix
    themadvix Posts: 7,867 Forumite
    Mortgage-free Glee! Photogenic First Anniversary Name Dropper
    Congratulations!! :T:T:T :love: :j:j:j
    Mortgage free 16/06/2023! £132,500 cleared in 11 years, 3 months and 7 days

    'Now is no time to think of what you do not have. Think of what you can do with what there is.' Ernest Hemingway


  • poddle911
    poddle911 Posts: 1,406 Forumite
    First Anniversary
    Congratulations Tropically! That's super news :j:j:j
    LBM Sep 2008 debt: £27,927.04
    start weight: 140.2, week 2: 138
  • Moneyfordreams
    Moneyfordreams Posts: 2,442 Forumite
    First Anniversary Name Dropper First Post
    congratulations xxxx
    Mortgage restart June 2018 £119950Re mortgage August 19 £110470, … Mortgage November 22 £85600 final 0% CC 3300Home renovations - £65000, mid 2018 - mid 2022
  • mfmaybe
    mfmaybe Posts: 1,176 Forumite
    First Anniversary First Post
    Lovely news, congratulations :)
    0% card was £1126.91 / Now £1502.37

    AFD March 2/15 NSD March 2/11 :T

    Other debts paid since 1/1/14: £17,005
  • PrincessLou
    PrincessLou Posts: 503 Forumite
    How wonderful and so exciting! Congratulations :T:T:T:j
    Mortgage - £105,500
  • I've loved reading through your diary so far! Congrats on the engagement, how exciting!

    Our mortgage is currently £240k and our repayments just over £1200 a month so a little under yours.
    Our income is a little less and we have 3 children (and live in a sleepy village) so we don't go out haha! I'd spend all our money if we lived in London though I reckon :D

    The envelopes are a great idea - so much cash in each and either set aside for a show or cinema OR a challenge to see what you can do within the budget.

    Looking forward to seeing how you get on!
  • Kittenkirst
    Kittenkirst Posts: 2,563 Forumite
    Photogenic Name Dropper First Anniversary First Post
    Wow congratulations on your engagement! What truly wonderful news

    :happyhear :happyhear :happyhear :happyhear :happyhear

    :j :j :j :j :j :j :j :j :j :j :j :j
    First home- Oct’16 until June’21: £170.995- Overpayments made £13,784 (25% extra!).
    New forever home- Sep’21 £309,449 @ 2.05%. Plan to clear it before 30 years!!!!!!
  • Jessy103
    Jessy103 Posts: 1,824 Forumite
    First Anniversary First Post Name Dropper Photogenic
    Fantastic news, congratulations!!!! xxx
    Mortgage Balance as of Jan 24 £36,500 Starting Mortgage Balance (June 2019) £72,000. 2024 Overpayment Challenge: Jan £558.40, Feb £588.11, Mar £497.32
  • Tropically
    Tropically Posts: 427 Forumite
    First Anniversary Name Dropper First Post
    Thank you all SO much for your well-wishes. It means a lot to me :)

    I have traded in reading MSE for hitched.co.uk, which is the opposite of MSE!

    My now fiance didn't get me a ring on his own, as he wanted me to be able to pick one and also he knows I like to be involved in any major financial decisions. I walked around with my sister to the standard high street stores but got too shy about trying them on. Eventually we went to Tiffany's and the service there was INCREDIBLE. But, talk about shifting baselines. I went in thinking that £1k would be MORE than enough for a ring. I tried a ring on and it was sooo sparkly. I tried on a slightly bigger one and it was soooo much sparklier. So many sparkles. I think I was blinded by the sparkles because I came away thinking that I needed to have a £5k 0.5 carat Tiffany's ring.

    After diamond daze wore off, I remembered that what I actually wanted was a moissanite ring. It is lab-made, meant to be more environmentally responsible gem and it's both more affordable and equally as sparkly. So I did choose just over a 1 ct diamond equivalent moissanite. I don't think that anyone can tell the difference and it was slightly over £1k, plus customs. Don't tell!!

    It's ONE YEAR since we bought the house! It's our house-iversary!! We haven't made any overpayments for a while... I'm going to see now if we can manage one today in honour of our house-iversary.
    Mortgage started at £318,000 in June 2016. Original MF - 2041 :eek:
    2nd Property Mortgage at £275,000. Mortgage free: 2049 :eek:
    Total OPs: £29529
  • Tropically
    Tropically Posts: 427 Forumite
    First Anniversary Name Dropper First Post
    Alright, so I have done some of the house-iversary maths!

    I have also made an OP of £1000 in honour of the house-iversary. That makes our OP total for 1 year of homeownership £2729. This is not quite 1% of our total mortgage, so quite small. But in that year, we did do up our kitchen and save £10,000. Our mortgage is now £305,028. This is really very close to below £300,000. Then our mortgage would start with a 2!!!

    Another short update but been distracted!
    Mortgage started at £318,000 in June 2016. Original MF - 2041 :eek:
    2nd Property Mortgage at £275,000. Mortgage free: 2049 :eek:
    Total OPs: £29529
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