Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • diggingdude
    • By diggingdude 19th May 19, 2:01 PM
    • 880Posts
    • 1,157Thanks
    diggingdude
    Don't want to do this job for ever
    • #1
    • 19th May 19, 2:01 PM
    Don't want to do this job for ever 19th May 19 at 2:01 PM
    So I am a couple of months into having my mortgage now and on the whole really like my house and realistically wouldn't need to move for many many years. I don't enjoy my job however and at the age of 35 don't want to be doing it for the rest of my working life. So the plan is to pay off this house whilst still having a disposable income. The mortgage was 117104 after deposit and currently on a 5 year fix. The first month I didn't make an over payment whilst last month I mad 101. I have upped this now to 301 a month on top of the 529 monthly payment.

    Making this thread less to ask questions but more to remind myself of where I started and to keep myself motivated. I am aiming for 15 instead of 25 years. I could do more but still have a load of other things to buy at the moment. Hoping I may motivate myself to a 10 year mortgage term in time
    House owner as of 27.3.2019
    Free Tumble drier fund 44 (March) 88.04 (April)May 179
Page 1
    • LeighofMar
    • By LeighofMar 19th May 19, 11:43 PM
    • 94 Posts
    • 220 Thanks
    LeighofMar
    • #2
    • 19th May 19, 11:43 PM
    • #2
    • 19th May 19, 11:43 PM
    Welcome. You have the right idea. My husband's been sick for 3 weeks. The only reason we are okay is because we are self-employed and our house note is low. But even so, it would be so much better with no mortgage whatsoever. Best wishes on your journey.
    • mumof3.12kindebt
    • By mumof3.12kindebt 20th May 19, 6:26 PM
    • 591 Posts
    • 1,559 Thanks
    mumof3.12kindebt
    • #3
    • 20th May 19, 6:26 PM
    • #3
    • 20th May 19, 6:26 PM
    Good luck on your journey I'll be following and cheering you on x
    June 2017 16000 debt
    Sept 2018 Loan paid off
    Nov 2018 DEBT FREE
    • fresh cotton
    • By fresh cotton 20th May 19, 6:45 PM
    • 27 Posts
    • 56 Thanks
    fresh cotton
    • #4
    • 20th May 19, 6:45 PM
    • #4
    • 20th May 19, 6:45 PM
    Good plan.

    Your current overpayments will make a big difference, but if you increase them over the next few years, then your mortgage will be done in no time.
    • beanielou
    • By beanielou 21st May 19, 9:01 PM
    • 63,819 Posts
    • 283,163 Thanks
    beanielou
    • #5
    • 21st May 19, 9:01 PM
    • #5
    • 21st May 19, 9:01 PM
    Happy shiny new diary
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • diggingdude
    • By diggingdude 23rd Jun 19, 7:59 PM
    • 880 Posts
    • 1,157 Thanks
    diggingdude
    • #6
    • 23rd Jun 19, 7:59 PM
    • #6
    • 23rd Jun 19, 7:59 PM
    Thank you all the first 301 pound overpayment went out this month with the next one going out on the 1st. I have had to pay for a couple of things in the house this week which cost quite a lot but I have got the best part of 6 months savings now so might try and a bit to 400 a month overpayment. Own over 12% now
    House owner as of 27.3.2019
    Free Tumble drier fund 44 (March) 88.04 (April)May 179
    • Youthgonewild
    • By Youthgonewild 24th Jun 19, 12:21 PM
    • 122 Posts
    • 218 Thanks
    Youthgonewild
    • #7
    • 24th Jun 19, 12:21 PM
    • #7
    • 24th Jun 19, 12:21 PM
    Keep going digging! I find it hard to stay motivated but coming on here, even if just to read other people's diaries is so inspiring. Wishing you well
    Mortgage balance October 2015: 99875
    Mortgage balance November 2017: 97583

    Mortgage balance November 2018: 90952.08
    Mortgage balance December 2018: 90470.65
    Mortgage balance January 2019: 88200.00
    Mortgage balance April 2019: 86200.00
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,844Posts Today

7,983Users online

Martin's Twitter