For some time I have been doing random posts about saving for our own home and the journy to get it, I am relieved to say we have done it!
We now (partly) own our own home (not the one in the photo though!) We hold a 25% share and have the remaining 75% to pay of via mortgage.
Currently owing is £121400
Thats a lot!
I am glad we fixed our interest rate for ten years at 2.59%! its now over 4% and the same deal now would see our monthly repayments about 20% higher!! But we are moved in and we are happy:)
Now the real work begins.
Time to start clearing the mortgage!
Congratulations 🙌 I hope you will be happy there for many years :)
!LUV
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Thank you:)
Congratulations!
25% Equity was also my starting point to qualify for a conventional mortgage without the additional mortgage Insurance fees and other bureaucratic government scrutiny. It's a long, sometimes bumpy, road until you'll be mortgage free but I have done it and I hope you will too.
Thats great you are now mortgage free, Thank you! Im going to try and clear the 25 year term in 10! I know its a marathon not a sprint but Im determined to make massive inroads into the debt whilst its fresh to limit interest paid long term.
That's a good move to have those interest rate locked in and glad you are in the home.
Yes itsa big relief, thank you mate:)