I managed to pay £1000 off the mortgage yesterday. It is a great feeling that even after Christmas with some extra spending that I can afford to do this. We still owe £83776.52 and are way off target for paying of by the end of 2012 but I still see it as a step in the right direction. Work is a bit quieter now too, but I have some ongoing stuff which should help. I have just calculated that I need to pay off £1745.34 a month to reach my target. That is a tall order but if my husband keeps getting put on call and making a little extra that way, my income continues to be good and interest rates stay low or even fall again, we should be doing well.
Wednesday, January 07, 2009
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4 comments:
I have just started to pay an extra £125pm on our mortgage, not as much as you, but a step in the right direction to be sure. Interest rates set to come down again tomorrow...
Good for you - it is a great start. I was just discussing interest rates with my Mum, she has no loans but savings and is very worried about the lack of interest she is getting.
Hi Rachel.
It´s good to know you had good holidays and still be able to reach some goals.
Low interests is good news for those paying a mortgage but not for those who have savings. Here, house´s value decreased, is it happening in UK too?
Good Friday.
House prices are falling here as well, yes. As we have been in our house for 7 years it is unlikely that the value will fall below what we paid for it as luckily it has gone up a lot since we got it. Therefore house prices do not worry me.
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