Mortgage free in 10 years
Comments
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Last day of the month is my normal mortgage payment day, so made a payment of £625, it's also mortgage interest day, so a £274 interest charge
That's a £10 reduction since I started paying off in earnest at the end of August. It's good to see progress like this in such a short period of time.
Did another 6 hours overtime on Sunday, so hopefully there should be some OP next month, even if its only £1-200
Balance now stands at £932090 -
About 2 weeks ago I had to travel to london with work. My train was delayed by an hour, and on leaving the train, I was given a 'claim for a delay' card from the lady at the station.
a 5 minute online form, including a photo of my ticket, and 2 weeks later a cheque for £35 through the post. Result
Mrs NorthernMonkey was paid on yesterday, and is a little sold on the whole pay off mortgage/retire early thing, however she mostly just lets me get on with it. She has transferred an OP of £100 into the account from her pay
Balance now stands at £931090 -
Fab to see the reduction in interest already taking effect
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!!!!!!0 -
Had the first part of the work done on the window, which only cost me £312, however, when the builder was up high, he advised that all of the wall ties in the wall are corroded, causing cracking in the brick. I went up and had a look, to check, and he is right
He has quoted £3800 to replace them all and repoint afterwards :O :O :O
I've provisionally booked this work in for April, as December isn't the best time to do this.
On the overpayments front, Ive taken out a £15000 balance transfer card with Virgin for 0% over 30 months, and paid this all into the mortgage. I estimate a saving of around £900 over a 2 1/2 year term when I take into account the transfer fee. I've also made a slight overpayment from this months wage, but not as big as I'd like, as I've started saving for the wall work. Luckily a monster overtime month means I've saved £1200 for this.
Also managed to sell something on ebay, which was an extra £85 OP. There are a few things which are on there now, and will finish this weekend.
Current Balance is £77663.26 + £15240 credit card = 92903.26
Wall fund £1200 / £38000 -
Continuing to plod on. It's not as easy as it seems this mortgage thing.
Normal payment came out, the £15k to credit card hasn't had a huge amount of time to take effect, so the interest was only £15 less than normal. Still it's better than a poke in the eye with a !!!!!! stick.
£625 payment, then a £259 interest charge
It's ruined my credit score having so much on a CC, but I'm not really worried. It'll climb back up after a few payments
Also £250 of ebay sales being posted today, straight off the total.
Current Balance is £77046.67 + £15240 credit card = 92286.67
Wall fund £1200 / £38000 -
Hi, just curious.. what's your plan with the CC? Will you put money aside that would have been used to OP and then pay off the CC in full at the end of the 0% or will you be paying all future OP money straight off the CC until its paid off?
Good luck with your Quest!0 -
I have to make a minimum payment of £150 a month on the CC. The plan is to just make these payments and then transfer the balance to another card in 31 months time. It should be about £11000 in 31 months.
I have a barclaycard with an 11k limit, and they are always sending me 0% offers. There seem to be loads of lenders offering similar offers
Worse case, I'll remortgage for the mortgage plus credit card amount.
The £150 a month that I have to pay for the CC payment will mean that my OPs will be less each month. I've had a few months of really good overtime, but I don't think I'll be able to keep up the current £5-600 a month overpayment rate that I've managed for the last 2 months0 -
Bad news about the wall ties but better to get done now than have it get any worse A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
Mortgage Balance = £0
"Do what others won't early in life so you can do what others can't later in life"0 -
It's pretty rubbish doing overtime at work, knowing that you're just getting wall for all the effort.
I have to save £800 a month until April to get it paid. I'm not sure if it's possible, but worst case, I'll just use the overdraft0 -
Woke up last night worrying about wall ties, and my house falling down. It's really getting to me. I've got another company coming out for to quote next week. They also said that it was generally not a good idea to do any work until March as you can't re-point when there is a risk of frost.
It's unlike me to get totally worked up like this.
I've had a good ebay week though. Sold a guitar for £600, which after fees meant I could transfer £540 to my bank account. I paid off another £37 off the mortgage to get it to £76999.99 and transferred £500 into the wall fund
The credit card bill came through as well. Crumbs. I expected it, but still seeing a statement with over £15000 isn't nice.
Current Balance is £76999.99 + £15253.50 credit card = 92253.49
Wall fund £1700 / £38000
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