Thursday, March 05, 2009

Paid Some Money off the Mortgage

I just paid £500 off the mortgage which is all the spare money we had left over this month after the bills were paid leaving a float of £200 in the current account. I have just ordered some books to sell so I need to get some more money in there to pay for those when they arrive, hopefully I will be able to do that. My mortgage repayment account now has £19,000 in it and I now owe £79943.33. I need to pay at least £1000 more off this month to stay on target and I am not sure how I will manage that. It will be nice to have a round £20,000 in the overpayment account. It still feels like we are a long way off paying the debt and sometimes I just wish we could have a premium bonds win and get it paid but on the other hand, I know that I will feel much better in myself if I know that our hard work has paid it off and not a piece of luck. I guess I need to get on with that hard work then......!


the credit cruncher said...

You are doing great Rachel.. Our mortgage has dropped below £100 a month now! we are overpaying £125 a month, I want to raise this to £150. I figure if the base rate goes down to 0%, our mortgage (interest only) will be about £50! Pity the endowment will be worthless...!

Rachel said...

It is swings and roundabouts isn't it. We are still buyings hares, because they are cheap. We were going to sell them to pay off the mortgage but we are just overpaying instead and that should be enough for us to still pay it off nice and early and we will use the shares for our retirement.