ario
Apprentice
Joined: 29 Dec 2003
Posts: 23
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 Posted: 09/26/07 - 22:09 Post subject: |
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| Congratulations! I just can't believe how much interest money you saved! I'm trying to repay my mortgage faster, as well. I took an offset mortgage deal and I'm very satisfied because I would be able to repay much faster. My mortgage is 112000 pounds, slightly higher then yours, so if you managed to repay it in 8 years I guess I could, too. My plans are to make an overpayment every month which is allowed by my mortgage deal. I will also negotiate about cheaper life insurance. I want to use my endowment to cah it and pay directly onto mortgage. I have some small debts to repay so I'll get back to mortgage after I'm done with them. By my calculations, total interest of my mortgage deal is about 100000 pounds at the end, and that's why I'm so determined to end it sooner. I would also get some credit cards to help me with payment. In my opinion I would end mortgage at least 10 years earlier, but I'm planning to take some more actions. Mortgage free is a status I want to accomplish, too. |
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