Excited to try and be mortgage free

chumpy45 · 25 September 2015 at 4:02PM

Hi all, have been really inspired reading all the posts on this mortgage free forum. Have got DH on board and we really want to try and clear the mortgage in two years. We currently have a property worth abouth £325,000 and an outstanding mortgage balance of £54,780.04 with 7yrs & 6 months left to go. Things are complicated at the moment as DH has been self-employed for the last 6 months which means we are struggling to remortgage. It seems we may have to wait another 6 months before we can reduce our current rate of 2.5% which is a shame and will impact on the overpayments. However, we are busily taking on board advice gained from many of the threads/posts on this forum. Really looking forward to getting stuck into money saving and overpaying and sharing our journey with all you inspirational people. :j

newgirly · 25 September 2015 at 4:28PM

Welcome chumpy and best of luck, two years is no time at all

wildesavings · 25 September 2015 at 5:03PM

Sounds like a plan!!! Welcome xxx

Luckyinlife · 25 September 2015 at 8:54PM

i managed to get a mortgage with 1 years account most company's wouldn't touch me with with less
good luck

chumpy45 · 26 September 2015 at 11:33AM

Thanks for the support everyone. Am just off to town to collect my 3 for 2 Argos toy deals to make a start on the Christmas money saving :j Am still waiting for a letter from our mortgage provider to sort out an error on their part. This will give me our exact o/s mortgage and should also include a £150 compensation cheque for inconvenience. A win/win situation - always happy to receive more for the overpayment pot - especially when its from the mortgage provider themselves :rotfl:

chumpy45 · 26 September 2015 at 7:52PM

Feeling very smug. Popped into town to collect my 3 for 2 toy bargains. Then remembered reading on Grabbit that Champney products were reduced to clear in another well known store. Headed over and collected six gorgeous Champney products at £2.50 each. At the checkout, realised I had enough points to cover the purchase price - so six Christmas gifts absolutely free

ourcornercottage · 27 September 2015 at 9:15PM

Found and subscribed

chumpy45 · 28 September 2015 at 9:37PM

Thank you ourcornercottage - my first subscribee!! Am busy checking out the Halifax account cash back offer given the news about increased fees on Santander 123. Need to try and work out which account will be most beneficial so am checking Martin's email to help decide. Still not received letter from mortgage provider. Will have to chase them up again. A little ironic if I have to complain about not receiving a compensation cheque which they offered because I had already complained (I think that makes sense!!). I would just like to know the correct amount is being taken each month and any overpayment correctly applied. Not too much to ask ???

ourcornercottage · 28 September 2015 at 9:45PM

How much are you aiming to pay each month to pay off your mortgage in 2 years? I'd love to be able to have such a short target. I'm on 10 years and counting!

chumpy45 · 30 September 2015 at 8:24PM

We are probably being very over-ambitious trying to overpay £2000/month :eek: We are very fortunate to be in this position however there is a big 'but' DH is self-employed and these figures are dependant upon current levels of income. I am employed on an hourly paid contract which is also subject to change. We will see what happens. Can't do any harm to try !! Still waiting to hear from mortgage company :mad: Wish they would hurry up so I can pay in their compensation cheque and also have a clear starting point. Feeling very motivated to try and do this.

Luckyinlife · 30 September 2015 at 8:48PM

grrr they can be so slow sometimes

2k is amazing keep it up for as long as your can the mortgage wont know what hit it hehe

Excited to try and be mortgage free

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free