Reducing Mortgage Payments
I’m proud of this category because it contains the blog posts to my second documented property investment project- first being my journey to buying a property and becoming a landlord.
I go through every step I took to raise £15,000, with the initial intentions of buying another buy-to-let investment. However, due to the uncertain condition of the property market and the lack of desirable properties available during the time, I ended up investing the money into one of my existing properties, by reducing the interest-only mortgage and converting it into a repayment mortgage.
I know, what a pussy move. I should have just expanded my portfolio and taken a risk like a real entrepreneur, with balls of steel.
Unfortunately, my property investment strategy is low/medium risk (because I’m a pussy with marshmallow balls), so it doesn’t cater or play well with opportunities that may effect my sleep. I enjoy my sleep.
Essentially this category is a documentation of how I raised £15,000k and how reducing my mortgage saved me 30k on interest payments. Use the mortgage calculator to see how much you can save by reducing your montage debt.
Perhaps there’s some food for through and/or inspiration in here.
Now that I have raised £15,000 and reduced my mortgage, I just want to quickly jot down the impact of what paying off a huge chunk has financially made. The results are pretty eye-opening; I hope it encourages some of you to start thinking about paying off your mortgage early. The maths Here’s some calculations […]
What a monumental day it is, indeed! I’ve finally reached my target of raising £15,000. I officially set off on the quest of raising £15k in order to reduce my mortgage debt on the 16th April, 2007, and it officially ends today, 10th September 2007. That’s 137 days (4 months and 15 days). I actually […]
I can almost see the light at the end of the tunnel!! I’m so close to completing my mission of Reducing My Mortgage By £15k that I can taste victory. It tastes sweet. After investing my savings into reducing my mortgage, the total shot up to £12,978.23. That leaves me just over two thousand bones […]
This WILL BE the least creative way I’m going to generate extra cash to Reduce My Mortgage By £15k, but it’s going to be another vital contribution. I didn’t actually plan on using my savings during this project because the initial plan was to think of creative ideas to generate money. However, I did a […]
A few weeks ago at work, I had my head slapped down on my desk, shuffling between procrastination, drooling, and contemplation. I was contemplating on ways I could raise more cash to hit my target of 15k to reduce my mortgage. When I managed to unglue my head from my desk, I approached my work […]
This will definitely contribute the most amount of money towards the £15k I’m trying to raise to reduce my mortgage. And so it should, because I just traded in the love of my love for the cause. I’m feeling quite unsettled right now; I just had to part with my baby (Peugeot 206 1.4 GLX). […]
It’s been just over 7 days since I put up random pieces of crap for auction on Ebay in an attempt to raise money for my latest project, which is to try and reduce my mortgage by £15k. I predicted I would raise close to a few hundred pounds from my auctions. Although, I did […]
What is Affiliate Marketing? This is Wikipedia’s definition of “Affiliate Marketing”: Affiliate Marketing is an Internet-based marketing practice in which a business rewards one or more affiliates for each visitor or customer brought about by the affiliate’s marketing efforts Basically, I advertise a few landlord related products on my website like Landlord Insurance on behalf […]
I’ll be selling shit on ebay this week for my second instalment of raising money for my Reduce My Mortgage By £15k project. I’m a great fan of ebay. In fact, I’m a huge fan. I love the concept; and I love a good bargain. I don’t sell much on ebay simply because I’m too […]
The ball is officially in motion. Earlier today I made the first step of raising money for my new project, Reduce My Mortgage By £15k project. Before I start selling my kidneys and participating in any hairbrained schemes to raise the funds, I figured I should start with the basics. Like most people, I do […]
After documenting the success of my first project (the very project which is the foundation and cause of this website, To Buy A Property And Become A Landlord), I’ve decided to set off on another property/landlord related mission. Like most great ideas, they’re triggered by random acts of fate, or destiny if you will. Sir […]