To be mortgage free

We are on the way of overpaying our mortgage regularly. I have set up a standing order for £100 a month. It is on the top of our £862.42 payment.
Just £100 a month should shorten our mortgage term by 3 years and save us over £10000 on interest.
We really should make much more than just £100 but by some magic we always spend it.

 

Our new mortgage deal

We own our little house in Surrey for 2 years now. That means that our first mortgage deal is running out. I had a look at new deals with our bank to switch to and I was interested in their 4 years fix. We think that rates will go up so it makes sense to fix it for longer. I have popped into our local Halifax and spoke with manager. It looked like we were just above 60% Loan to Value (LTV). To get the best rate (which is below 60% LTV) I have paid £6000 into our mortgage (from our savings).

Source: Web

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.