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    • chumpy45
    • By chumpy45 25th Sep 15, 4:02 PM
    • 325Posts
    • 1,420Thanks
    Excited to try and be mortgage free
    • #1
    • 25th Sep 15, 4:02 PM
    Excited to try and be mortgage free 25th Sep 15 at 4:02 PM
    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.
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    • chumpy45
    • By chumpy45 8th Aug 18, 4:22 PM
    • 325 Posts
    • 1,420 Thanks
    Thank you Hidden, and thanks for popping in. Yes, 2 years would be fab and in theory should be achievable but we all know life tends to get in the way

    TT of 23p this morning. Seems to be spending horrendous amounts of money on food atm. Four DS, plus we now have 2 girlfriends on the scene, and also have to cater for one veggie and one vegan. It seems as if every piece of food and every utensil we possess is used every meal time! I am very happy though to have them all back home, it's lovely having them all here, even if somewhat chaotic.

    Still waiting to hear from FD for our remortgage to a fixed rate deal for two years. We have completed the application and been "approved" but apparently can't book the rate we want until we have spoken with one of their mortgage advisers. Their earliest date is 19th August! I will be really annoyed if we lose the rate we are looking at. Want to get it sorted so that we can lose another 8 months off the end date and start the new OPs.

    Copying other MFWs, I have created my own Excel house today and am looking forward to colouring in some squares. Must be running out of ink on the printer thought as my nice red bricks look a rather dodgy pink. Looks like the house has a "ombre" effect

    Right need to finish my cuppa and start to think about preparing dinner for the hungry hordes who will be back from work soon.
    Starting Mortgage 01.08.08 £171,209.24. Mortgage as at 01.09.15 - £54,780.04; 01.11.15 £49,577.04;01.03.16 £45,799.32; 01.08.16 £42,418.93; 01.10.16 £40,119.5 01.02.17 £36,584.00; 01.04.17 £34,694.71 09.06.17 £32,828.89 MFW Target date Sept 2017; :) 06.08.18 £24,769.47 New Target Date Sept 2020
    • chumpy45
    • By chumpy45 10th Aug 18, 2:16 PM
    • 325 Posts
    • 1,420 Thanks
    Watching the rain pour down whilst having a quick cuppa. Just back from the weekly shop and managed to stay in budget as armed with my list and tried very hard not to pick up any "extras". Still think I could make some savings there, and things will definitely reduce in September as one son returns to uni and another leaves home to take up his graduate position. My chicks are leaving the nest. Nothing to TT this morning which was a little disappointing but I guess it means I haven't been spending. Haven't had a summer holiday this year, but thinking about the October half-term. I have been looking at the Canary Islands which I believe should still be nice and warm in October. Need to get some prices together and see if the budget can run to it. Need to try and balance the frugality/savings/mortgagereduction/life Made it to the weekend, hopefully the sunshine will return.
    Starting Mortgage 01.08.08 £171,209.24. Mortgage as at 01.09.15 - £54,780.04; 01.11.15 £49,577.04;01.03.16 £45,799.32; 01.08.16 £42,418.93; 01.10.16 £40,119.5 01.02.17 £36,584.00; 01.04.17 £34,694.71 09.06.17 £32,828.89 MFW Target date Sept 2017; :) 06.08.18 £24,769.47 New Target Date Sept 2020
    • chumpy45
    • By chumpy45 12th Aug 18, 10:35 AM
    • 325 Posts
    • 1,420 Thanks
    A Sunday morning TT of 35 p which brings the balance to a nice round £29.50. Surprising how these little bits add up. Have just paid the CC which was a bit due to some kitchen works we have been having done (long story, the original kitchen fitter just disappeared without finishing the job and with some of our money!). Luckily he left most of the materials but we have had to pay out again for someone else to finish off and for a few extra bits and pieces ) On a separate note, I always seem to get in a muddle with my CC. I consider myself to be averagely intelligent but I never seem to understand my CC statement I know all the items are listed in date order and the balance is shown but it never seems to match up with what I am thinking ! Anyway, all done now for another month. Still have to wait another week until our telephone call with FD about the new mortgage fix. This is frustrating as I would like to sorting out new figures on my spreadsheet as DH has also had a pay increase so it would be good to know where we will stand. Nothing beats time spent on a spreadsheet shuffle. Better go and get sorted as have to pick up DS4 from a sleepover. Happy Sunday everyone.
    Starting Mortgage 01.08.08 £171,209.24. Mortgage as at 01.09.15 - £54,780.04; 01.11.15 £49,577.04;01.03.16 £45,799.32; 01.08.16 £42,418.93; 01.10.16 £40,119.5 01.02.17 £36,584.00; 01.04.17 £34,694.71 09.06.17 £32,828.89 MFW Target date Sept 2017; :) 06.08.18 £24,769.47 New Target Date Sept 2020
    • greent
    • By greent 13th Aug 18, 7:49 PM
    • 7,232 Posts
    • 73,517 Thanks
    Great to see you back here, chumpy! Two years would be great - but if it ends up being 2.5 (or whatever) you're still attacking the mtge - which is more than a lot of people are doing - and you're also saving at the same time, so you're also taking a look at the bigger picture
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786. 2018 OPs (#18) £3290.25/£4000
    Net sales 2018 £613.49/£1000 PAYDOX18 (#15) Done £18918.90
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