My L&M and I have decided to throw all our spare pennies at our mortgage next year. We have reduced it fairly well so far as we took out a 25 year mortgage 10 years ago & we only have 9 years 2 month left of the term.
Unfortunately we had a few years when I was the only one in regular employment & for a while we had an interest only mortgage,otherwise we'd have paid off even more.
Now we are going to make a concerted effort to pay off as much as we can, as soon as we can.
We have £67.703.19 left to pay!
We have upped our payments by £100 per month from our joint account & I'm also going to try to pay an extra £39.97 out of my account each month. At the end of each month, any money left in our joint account will be moved to our savings account & then transferred to the mortgage every 6 months. No doubt something expensive will now break down & scupper all our plans, so we can but try.
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