Mortgage Freedom: December 2012 Report

*DECEMBER 2012 STATS

  • Original Mortgage: £138,485 (April 2006)
  • Original term: 300 months (March 2031)
  • Outstanding Balance: £84,950.00
  • Reduction from last month: £1,350
  • Paid off to date: £53,535
  • Monthly payment: £542.34
  • December over payment £877.88
  • Actual payments left: 211
  • Months until goal date: 60 (31st Dec 2017)
  • Months until stretch goal date: 36 (31st Dec 2015)

Us vs. Bank: 38.7% vs. 61.3%

*FINAL STATS FOR 2012

  • OPENING BALANCE: £106,322.34
  • PAID OFF: £21,372.34
  • CLOSING BALANCE: £84,950.00
The repairs to the back of the house stopped us from reaching our original goal of £83k, and then revised goal of £80k, but we’re still extremely happy to be below £85k.
Gotta keep going though. Next target: £60,000 by this time next year!

Comments

  1. says

    ! ! ! That is such a phenomenal amount to pay off in a year! You must feel great : )

    Maybe I will have a small drink to celebrate for you (lol – I am *really* looking for those drinking excuses now!) Definitely worth celebrating, though!

  2. Clare says

    Wow! Good stuff Laura! That’s a huge amount to pay off in one year! Hope you’re celebrating :)