Paying it.

I mean our mortgage. We have bought our house in November 2012. So over year done, 24 more years to go! :-(  I will be 56 years old when mortgage free and I am not counting future moving and getting new mortgage. It isn't nice to think about living big part of our lives with debt. It is as big iron weight on my leg. When I get my salary + wages first it goes towards mortgage and because I have on line account I can see how much bank is taking for "interest" and how much goes for repayment. It just doesn't seems be enough.



Only saving grace is that both of us have second jobs. We work in the evenings in the restaurants (different ones) as waiters. In regular week we are both on over 50 hours of work. Over the Christmas or in weeks of holiday days we work even more. I am very grateful for my second job, because of it I was able to get together deposit for our house and this year I have also overpaid our mortgage. It was only by £1000 but anything will save our money on interest.
As of today we owe bank staggering £177,118.26 and it is just for 2 bedroom cottage. Prices of houses are crazy and they are still going up.

Source: web

We were lucky that when we got mortgage we got very good rate (for first time buyers). We are on 3.49% and locked in it for next 11 months. So we have to count with possibility that we will not get next time rate so low and it means repayment will go even higher.
It is then important to have job security cushion which in our cases are our second jobs.