A fairly quiet quarter since we paid off 10% of the original balance in the first six months. For this quarter, we paid the standard monthly charge, and then saved as much as possible to pay off a lump sum at the beginning of 2016.
- Mortgage balance at start of year: £57,511.66
- Current mortgage balance: £31,211.40
- Interest charged: £692.44
- Overpayment allowed in year: £8,500
- Current overpayment total: £8,500
- Mortgage term at start of year: 48 months (December 2017)
- Current mortgage term: 39 months (March 2017)
- Months to go: 21
- Overpayment savings: £2,500.00
Overpayment savings were lower than expecting, as my husband has been working less overtime and also got a company car for which he was taxed quite a large amount at once.