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  • Urbanshyne
    Urbanshyne Posts: 105 Forumite
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    I thought I'd just update my blog with some numbers.

    My outstanding mortgage balance today is £87399. Since July 2017, that's decreased by about £14,000. My current savings take that balance down to £67,899.

    Daily Interest has reduced from a high of £5.80 to around £4.60. There's also been a interest rate reduction of around 0.5% when I renewed my deal last September.

    The number of days until my mortgage is paid off have reduced from 2252 to 1093. Currently, I expect to have paid my mortgage off by April 2021, my 40th Birthday. I'm actually hoping to have it sealed by December 2020.
    Neither a borrower or lender be; for loan oft loses both itself and friend.
  • greent
    greent Posts: 10,671 Forumite
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    Urbanshyne wrote: »
    I thought I'd just update my blog with some numbers.

    My outstanding mortgage balance today is £87399. Since July 2017, that's decreased by about £14,000. My current savings take that balance down to £67,899.

    Daily Interest has reduced from a high of £5.80 to around £4.60. There's also been a interest rate reduction of around 0.5% when I renewed my deal last September.

    The number of days until my mortgage is paid off have reduced from 2252 to 1093. Currently, I expect to have paid my mortgage off by April 2021, my 40th Birthday. I'm actually hoping to have it sealed by December 2020.

    Some cracking figures there, Urban - and I have no doubt that you'll achieve your 12/20 hope! :)
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NIL
    Net sales 2024: £20
  • gallygirl
    gallygirl Posts: 17,228 Forumite
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    Urbanshyne wrote: »
    Money is dull. Watching the pennies is tedious. It's the challenge that's interesting and the earlier freedom from a certain financial penury that certainly drives me.

    Well put :T

    Money's going well, how's the non-smoking and diet ;).
    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"
  • Urbanshyne
    Urbanshyne Posts: 105 Forumite
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    gallygirl wrote: »
    Well put :T

    Money's going well, how's the non-smoking and diet ;).

    I'm afraid to say that my weight loss attempts are repeatedly and consistently foiled by bacon and egg sandwiches in roadside cafes. The urge to over-eat still hasn't quite been numbed by my reflection in the mirror. There's still time, I guess.

    I've a few wobbles with non-smoking - an occasional fag here and there, usually inspired by too much wine, but on the whole I've remained clean.

    So I'm regarding a 50% success rate as, well, a success.
    Neither a borrower or lender be; for loan oft loses both itself and friend.
  • gallygirl
    gallygirl Posts: 17,228 Forumite
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    Urbanshyne wrote: »
    So I'm regarding a 50% success rate as, well, a success.

    It is indeed :T. Onwards and downwards ;).
    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"
  • Urbanshyne
    Urbanshyne Posts: 105 Forumite
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    Another month nearly upon us and for me that has meant yet another job. Since the end of February, I've had 4. Ouch.

    What's with the high turnover, I hear you ask.

    Well, I had a really ace job until the beginning of March. I moved steam and diesel locomotives by road for a haulage company. Unfortunately, my boss experienced some legal difficulties and the company subsequently folded at the end of February. It was very sad. And since then I've been floundering a bit for something that had the same thrill, I guess. Other truck drivers in heavy haulage may well think at this point I'm a total !!!! but I LOVED moving rolling stock. And I miss it, truth told. There are others that do it of course, just maybe not with the same ethos. And that matters.

    So, I'm on to job number 5 on Tuesday, admittedly with much better terms than I've had in the previous 4, but it's still just a job I fear.
    Neither a borrower or lender be; for loan oft loses both itself and friend.
  • julicorn
    julicorn Posts: 2,281 Forumite
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    Best of luck with your new job UrbanShyne! It must be so hard having to give up a job you really love. I hope you find something that excites you about this job (or that you find another really great job really soon).

    I've just read through your diary, your goals and achievements are amazing!
    Original mortgage: December 2017, £203,495
    MFW start: April 2018, £201,800
    Mortgage neutral: September 2022, mortgage redeemed: December 2022
    New house, new mortgage: December 2022, £276,007
    Current balance: £217,800 minus £8,300 overpayment savings pot
  • Urbanshyne
    Urbanshyne Posts: 105 Forumite
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    So, hello. I'm a year into overpaying on my mortgage and I can report that I've cleared nearly £20,000 off the balance. I don't know about you, but I'm stoked. I really didn't believe that it'd be possible. I imagined that I'd give up because it was unattainable. If anything, my resolve has only intensified.

    I'd like thank this forum for keeping me on track. I'm not a regular contributor but I do check in a few times a week to see how people are getting on. Your progress kind of inspires mine. And since this a pretty dull life pursuit (I mean that with love) at least we can be dull together.

    Power to the Over Payers!
    Neither a borrower or lender be; for loan oft loses both itself and friend.
  • EatingTheElephant
    EatingTheElephant Posts: 1,373 Forumite
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    Great reduction for your first year, congratulations :T
  • Moneyfordreams
    Moneyfordreams Posts: 2,442 Forumite
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    Well done for keeping focussed, have you managed to settle in job number 5? :)
    Mortgage restart June 2018 £119950Re mortgage August 19 £110470, … Mortgage November 22 £85600 final 0% CC 3300Home renovations - £65000, mid 2018 - mid 2022
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