Mortgage Freedom: January 2013 Report


  • Original Mortgage: £138,485 (April 2006)
  • Original term: 300 months (March 2031)
  • Outstanding Balance: £84,471.43
  • Reduction from last month: £478.57
  • Paid off to date: £54,013.57
  • Monthly payment: £542.34
  • January over payment £7.66
  • Actual payments left: 210
  • Months until goal date: 59(31st Dec 2017)
  • Months until stretch goal date: 35 (31st Dec 2015)

Us vs. Bank: 39% vs. 61%

A small overpayment this month (it will be the same in February), as we’re building our cash savings in the first three months of 2013, and then attacking the mortgage over the other nine…..well that’s the plan at the moment :)


  1. Sandra Gonzales says

    Good luck with paying extra on your mortgage! I’ve been trying (on and off) and I wish so many things wouldn’t come up and deter my plans. But that’s life I guess…

    • says

      Thanks Sandra! Things do come up don’t they?! I think as long as you stick at it eventually you’ll get there. Happy New Year :)

  2. says

    You are still heading in the right direction even with a small overpayment and well done on your efforts so far. We have a dilemma this year as money gets tighter – do we continue with large over payments or use more of the money to decorate through our house. I love looking at our figures coming down just like you show on your posts but not sure we can keep it up this year without stringent measures elsewhere!

    • says

      That’s a dilemma we’re always facing. I keep putting off the final house updates but eventually, whether we sell or rent out, they’ll have to be done. Perhaps you could do a little of both?