Monday, 6 October 2014
Mortgage Overpayment ~ 1
The weather has been unbelievably miserable today, raining sideways, blowing a gale and freeeeezing cold. I have been layered up and slippers were on, I decided I was going to have a hibernation day and caught up with my OU and drank hot chocolate. I did put the heating on this evening for the first time this season. There's defintely no place like home.
The good news is we have made our first overpayment on our mortgage today. Very exciting and very much addictive. It was going to be the year of the mortgage this year, but because of one thing and another it didn't really happen. We have done some work on the house and had 2 holidays - so I am not complaining.
Anyway I will hopefully be making a overpayment every month so I will blog and you can watch it slowly decrease (if you are interested). My date for total repayment is September 2018 which I think is just do-able. This is when my fixed rate ends - so that is my goal.
Mortgage total £99000
This is obviously a bit of a guess, it will be less because of the interest we are saving. But this figure will have to do until we get an updated statement.
MSE mortgage overpayment calculator
We used this mortgage overpayment calculator to play with, it estimates that we have saved £363 over the term of the mortage. How exciting!
Have a lovely evening everyone!