Our goal is to achieve Financial Freedom by December 2020; being mortgage free (as soon as possible) is part of that goal and every month I’m tracking our progress.
September 2011 Mortgage Stats:
- Original Mortgage: £138,485 (April 2006)
- Original term: 300 months (March 2031)
- Outstanding Balance: £109,198.15
- Reduction from last month: £1,107
- Paid off to date: £29286.85
- Monthly payment: £542.34
- August over payment £657.66
- Actual payments left: 226
- Months until goal date: 75 (31st Dec 2020 2017)
- Months until stretch goal date: 51 (31st Dec 2015)
- Original term reduced by: 8 months
Us vs. Bank: 21.14% vs. 78.86%
Mortgage Goals:
- Mortgage neutral (mortgage – savings) by December 2015
- Mortgage fully paid off by December 2017
Stretch Goal:
- Mortgage fully paid off by December 2015!!
It feels good to break the £110k barrier….now to chase the £100k 
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{ 3 comments… read them below or add one }
Nice job with the overpayment. Keep it rolling!
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laura Reply:
September 1st, 2011 at 5:24 pm
Thank you…I’m focusing on that £100k!
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Congrats on breaking 110k!! I get excited about reaching these milestones a’s well! Good luck on quickly achieving the 100k goal!
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movetoportugal Reply:
September 3rd, 2011 at 8:45 am
Thanks Sandy!
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I remember it felt like it took forever to get below $100K, but then it seemed a lot easier to get down to the lower numbers. I’m rooting for you to get to 5 figure debt pretty soon.
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movetoportugal Reply:
September 3rd, 2011 at 8:48 am
@Sandy Me too
The hardest thing is trying to maintain balance. I’m so tempted to throw some of our savings at the mortgage but (luckily) my husband stops me!
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