Financial independence – quarterly #mortgage update 2016 Q2


For some reason our mortgage term hasn’t been updated since February, although we’ve been making overpayments every month. Anyway, the balance has roughly halved in the last three months

  • Mortgage balance at start of year: £27,655.74
  • Current mortgage balance: £7661.13
  • Interest charged: £285.19
  • Overpayment allowed in year: unlimited
  • Current overpayment total: £10,232
  • Mortgage term at start of year: 39 months (March 2017)
  • Current mortgage term: 39 months (March 2017)
  • Months to go: 9
  • Estimated months to go with continued overpayments: 2

We’re still on target to pay off the mortgage in August, although I’ll probably have to use a bit of savings to pay off the final amount. I’d rather do that than wait until September though.


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