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  • FIRST POST
    • hiddenshadow
    • By hiddenshadow 15th Sep 15, 9:51 AM
    • 2,241Posts
    • 10,111Thanks
    hiddenshadow
    Mortgage free by 2021?!
    • #1
    • 15th Sep 15, 9:51 AM
    Mortgage free by 2021?! 15th Sep 15 at 9:51 AM
    DH and I bought our house Christmas 2013 and have been overpaying automatically ever since. Original mortgage of £197,100, have managed to knock out £30k since then. We're both well-employed (computer programmers), no kids, though we do have a pair of dogs and a pair of cats.

    Our mortgage fix is up in December, so we've refinanced for 5 years and managed to shave almost 2% off the interest as well. By agreeing to up our agreed payment to the amount we've been overpaying so far (£1,350 rather than £778) we'll reduce our remaining term from 23 years to 11.75.

    I was playing around with the budget this week, as we ought to be able to live off one salary and save the rest. With that number (£2,750) as a monthly payment, we should be able to pay off the loan in 6 years. Would be really nice to get that down to 5 so that we don't have to refinance again, but paying off almost 200k in 8 years is still pretty exciting.

    Current Goal - December 2017 - Balance below £105,000

    Past Goals
    * April 2017 - Balance below £110,000 (£108,597.74 April 2017)
    * March 2017 - Below £8 daily interest (£7.86 March 2017)
    * February 2017 - Balance below £115,000 (£113,932.35 February 2017)
    * February 2017 - Below £250 monthly interest (£248.27 February 2017)
    * December 2016 - Balance below £120,000 (£119,900 December 2016)
    * November 2016 - Below £9 daily interest (£8.52 November 2016)
    * October 2016 - Balance below £125,000 (£124,999.99 October 2016)
    * September 2016 - Balance below £135,000 (£132,991.85 September 2016)
    * August 2016 - Balance below £140,000 (£139,700.00 July 2016)
    * June 2016 - Balance below £145,000 (£142,927.47 June 2016)
    * April 2016 - Monthly interest below £300 (£293.59 April 2016)
    * April 2016 - Balance below £150,000 (£149,847.03 March 2016)
    * April 2016 - Below £10 daily interest (£9.99 March 2016)
    * March 2016 - Balance below £155,000 (£152,953.85 February 2016)
    * January 2016 - Balance below £159,500 (£158,711.69 January 2016)
    * December 2015 - Balance below £161,800 (£161,771.90 December 2015)
    * December 2015 - Balance at/below £164,280 (£162,636.18 November 2015)
    * December 2015 - Balance below £165,000 (£164,907.08 November 2015)
    Last edited by hiddenshadow; 02-10-2017 at 11:13 AM.
Page 54
    • Moneyfordreams
    • By Moneyfordreams 19th Aug 17, 2:47 PM
    • 896 Posts
    • 4,342 Thanks
    Moneyfordreams
    hope things settle down soon for you. congratulations on your move
    Mortgage Feb '13 £200000, end 2038. Aiming for before March 2025 (crunched to 2034)
    January 16 £182800 : minimum £360 OP but needs to be £600 to achieve 2025
    Current mortgage £159800
    h@lifax CC £4500 0% until May 2018.. will pay minimum for now, slow stooze
    xmas, chairs, hoover, computer and holiday [STRIKE}clothes[STRIKE] DD1 cc
    • debtfreeoneday
    • By debtfreeoneday 19th Aug 17, 6:45 PM
    • 2,769 Posts
    • 9,471 Thanks
    debtfreeoneday
    Glad the move over went well - but how frustrating re the internet.. hope the rental stress gets sorted soon!
    DFW (08/08) £64,346.53
    CC1 - GONE! ~~~ CC2 - GONE! ~~~ CC3 - £1263.18 ~~~ CC4 - £1050.00
    MFW (01/15) £118,031.21 £95,950.76
    • hiddenshadow
    • By hiddenshadow 24th Aug 17, 8:03 PM
    • 2,241 Posts
    • 10,111 Thanks
    hiddenshadow
    Well, I wish I had a happy update, but no such luck. Estate agents are being completely ridiculous and misinterpreting the very basic elements of the AST, which baffles me as this is their full-time job so you would think they would at least know how it works. We're trying to find a solicitor so we can both smack the estate agents around a bit for being so dumb, and avoid paying their bogus charges. We're also investigating the option to sell the house now as a BTL...largely depends on how big a hit in price we'd take selling the house to an investor vs privately, but on the plus side it should appeal to an investor as it's got multiple income streams between the tenants and the solar panels (albeit a much smaller income stream on the latter ).

    I'm sure it will all work out in the end, but it's stressing me out big time, especially as I'm the household CFO/organiser so it's down to me to e-mail/call people, coordinate things, etc. DH is happy to research stuff online and give his input on things, and I'm sure if he had to he would do calls/e-mails, but he's likely to put it off so long that I may as well do it and get it done.

    Moving is also up in the air...our things were originally promised within 3 weeks which would have been last week. They now say that our things will arrive to Dublin next week sometime and to us the week after. I've e-mailed asking about the option of a partial refund due to the delivery timeframe being more like 6 weeks rather than 3. Not getting my hopes up, but nothing ventured, nothing gained! (I suppose in the meantime I can enjoy the illusion of a minimalist lifestyle now that we've de-cluttered loads of the landlords' things out of the house and are left with the basics + our computers.

    Work is improving a bit...project finally launched and hasn't immediately turned into a dumpster fire, so we might actually have a couple of weeks to catch our breath. My coworker and I both plan to take a week off sometime in September, as we've accrued loads of time off in lieu and are both exhausted. We'll see what changes longer term work-wise so that we don't end up in this sort of situation again, otherwise I may have to job hunt for my sanity. (This project launch has been the worst one I've ever been in, which says something, and I've promised myself that I'm not staying around for the next project launch if it's going to be remotely similar to this one.)

    We should finally get a bank account tomorrow or Monday...fingers crossed! Would not have guessed that it would take a full month to get a bank account. (Granted, we probably could have walked in to any high street bank and gotten an account a couple of weeks ago, but most accounts have regular charges so we wanted to go for one that would be fee-free. )
    Last edited by hiddenshadow; 25-08-2017 at 11:45 AM.
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,669 / Oct '17 £106,575
    2017 MFW #56: £13,093/£20,000 65% / MFiT-T4 #15: £52,924/£90,000 58%
    • debtfreeoneday
    • By debtfreeoneday 25th Aug 17, 10:18 AM
    • 2,769 Posts
    • 9,471 Thanks
    debtfreeoneday
    Sounds like a bit of a nightmare for you at the mo, hope it gets sorted soon! x Glad the work project went well!
    DFW (08/08) £64,346.53
    CC1 - GONE! ~~~ CC2 - GONE! ~~~ CC3 - £1263.18 ~~~ CC4 - £1050.00
    MFW (01/15) £118,031.21 £95,950.76
    • hiddenshadow
    • By hiddenshadow 25th Aug 17, 11:46 AM
    • 2,241 Posts
    • 10,111 Thanks
    hiddenshadow
    Thanks DFOD, me too! Phoning solicitors on the to-do list for today...
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,669 / Oct '17 £106,575
    2017 MFW #56: £13,093/£20,000 65% / MFiT-T4 #15: £52,924/£90,000 58%
    • hiddenshadow
    • By hiddenshadow 2nd Sep 17, 8:39 AM
    • 2,241 Posts
    • 10,111 Thanks
    hiddenshadow
    August Retrospective
    August OPs: £0.00
    August Offset: £0.00

    Current (offset) balance: £108,188.90
    Month we’d be in to get to our current balance without OPs: March 2027 (+2 months)

    2017 Overpayments: £10,053.84
    2017 Offset Savings: -£6,171.94
    2017 Interest Saved: £3,752.04

    Total Overpayments/Offsets: £68,117.12
    Total Interest Saved: £56,094.26

    Daily Interest: £7.14 (down £0.05)
    Monthly Interest: £220.79 (up £5.36)
    August 2016 Interest: £291.04 (down £70.25)
    August 2016 Daily Interest: £9.23 (down £2.09)

    House Bricks: None

    Mortgage reduction: £11,479/£20,000 (57%) (Average: £1,435.00/mo)

    OPs on pause for now.

    Net worth increase: £49,274/£80,000 (61%)

    Good month despite all the expenses of moving.

    MFIT-4: £51,311/£90,000 (57%)

    Goals

    Didn't get around to setting any, but we've made progress on various things. Finally have a bank account in Ireland (yay), which means we can set up utility accounts. Still chasing up a post code, but have learned that it won't be issued until November at the earliest. (At least that saves me sending weekly e-mails that never get a reply.) Still dealing with letting fiasco, hope to have an update on that soon. Our stuff arrives Tuesday, hurrah! So, progress (some of it painfully slow) on many fronts.
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,669 / Oct '17 £106,575
    2017 MFW #56: £13,093/£20,000 65% / MFiT-T4 #15: £52,924/£90,000 58%
    • EatingTheElephant
    • By EatingTheElephant 2nd Sep 17, 8:50 AM
    • 1,124 Posts
    • 6,056 Thanks
    EatingTheElephant
    Sorry you are having such a hard time with everything. I'm hoping it will all settle down for you soon.

    It does sound lovely where you have moved to. I think you definitely are in need of a break! Thank goodness you should be able to take some time off this month.
    • michelle09
    • By michelle09 2nd Sep 17, 9:45 AM
    • 303 Posts
    • 1,007 Thanks
    michelle09
    Looks like things are a little stressful for you guys right now, hope it clears up soon!
    • hiddenshadow
    • By hiddenshadow 3rd Sep 17, 9:21 AM
    • 2,241 Posts
    • 10,111 Thanks
    hiddenshadow
    Thanks both! I think things will calm down a bit soon, between our things arriving and having a plan of attack re: estate agents (ideally they'll agree to terminate our contract fee-free without us having to get solicitors involved, but if we have to do that, so be it).

    We're off to London for a few days next week for work (DH + me) and yarn crawl (me). We'll be staying with friends, one of whose birthday is Tuesday so it'll be nice to see them and take them out to dinner. Our neighbours will watch the pets for us, which is handy.

    Hoping that can also be the start of a less frequent travel schedule for DH - he's done weekly thus far but plans to take the week after our trip off, so ideally his boss will see that the office does not implode just because he's typing on his computer from Ireland rather than 5 feet away in London. (It would help if DH would be more assertive and just say "x is what works for us, how can we make it work for you?" but that's completely not his personality.) Of the 4 trips I've had one where I was mostly OK, 1 where I was completely dead, and 2 in-between, so it would definitely be nice to have a week break in between them.

    We went to IKEA yesterday and walked out with over €150 worth of stuff. All planned for, granted, except a €4.50 pillow with cat faces on it that I impulse-bought. At least all of it should be both useful and transferrable to another house, so that's something. And I prevented DH from buying kitchen knives purely because they were there and we hate the ones the landlords provided...may as well research quality ones and buy a nice set once rather than a meh set and have to buy sometime else. (We had an OK set in London but we threw those out rather than move them as they were in pretty poor shape after a few years of use.) So I guess that's kind of a win?
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,669 / Oct '17 £106,575
    2017 MFW #56: £13,093/£20,000 65% / MFiT-T4 #15: £52,924/£90,000 58%
    • debtfreeoneday
    • By debtfreeoneday 3rd Sep 17, 11:35 AM
    • 2,769 Posts
    • 9,471 Thanks
    debtfreeoneday
    Well done for being controlled in IKEA!
    DFW (08/08) £64,346.53
    CC1 - GONE! ~~~ CC2 - GONE! ~~~ CC3 - £1263.18 ~~~ CC4 - £1050.00
    MFW (01/15) £118,031.21 £95,950.76
    • hiddenshadow
    • By hiddenshadow 4th Sep 17, 1:38 PM
    • 2,241 Posts
    • 10,111 Thanks
    hiddenshadow
    Thank you .- I always forget how horrible IKEA is when you're looking for whatever you're trying to buy, let alone trying to get out of the place.

    We may end up back there in a year-ish to plan another kitchen...at least we have experience with that now.
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,669 / Oct '17 £106,575
    2017 MFW #56: £13,093/£20,000 65% / MFiT-T4 #15: £52,924/£90,000 58%
    • shangaijimmy
    • By shangaijimmy 4th Sep 17, 8:57 PM
    • 2,207 Posts
    • 10,146 Thanks
    shangaijimmy
    The only way i will agree to Ikea is in the proviso that i get a hot dog and an ice cream!
    MFW: Turning June 2036 into March 2023... 30//120 Payments Challenge, Diary Reduction £32,077.72
    Aug 2009: £163,051 // Current: £103,922.28 // Avg Daily Interest £4.67
    MFiT-T4 #8 - 47.86% of £41,000
    • hiddenshadow
    • By hiddenshadow 4th Sep 17, 9:00 PM
    • 2,241 Posts
    • 10,111 Thanks
    hiddenshadow
    The only way i will agree to Ikea is in the proviso that i get a hot dog and an ice cream!
    Originally posted by shangaijimmy
    Ha - we were going to relax with a coffee/tea at the end but my legs were giving out about 50 feet in, so it was all I could do to get back to the car.
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,669 / Oct '17 £106,575
    2017 MFW #56: £13,093/£20,000 65% / MFiT-T4 #15: £52,924/£90,000 58%
    • hiddenshadow
    • By hiddenshadow 10th Sep 17, 9:10 PM
    • 2,241 Posts
    • 10,111 Thanks
    hiddenshadow
    2 year MSE anniversary tomorrow apparently. Hard to believe it's been 2 years already.

    Back from our few days in London...good fun shopping with fellow crafters (though probably spent too much money ), great to spend time with our friends, all in all a successful trip. Super exhausted today though, so we just unpacked a few kitchen boxes and passed out on the couch for the afternoon.

    Hoping for a quiet week - DH is home all week (yay) so we should be able to relax a bit.
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,669 / Oct '17 £106,575
    2017 MFW #56: £13,093/£20,000 65% / MFiT-T4 #15: £52,924/£90,000 58%
    • hiddenshadow
    • By hiddenshadow 2nd Oct 17, 11:12 AM
    • 2,241 Posts
    • 10,111 Thanks
    hiddenshadow
    September Retrospective
    Overall a quiet month. No OPs, no exciting financial news. Finally getting everything setup both here and in the UK, which is good. Work has quieted down a bit from the full-on manic/panic phase, but have yet to see actual change that would prevent panic in the future, so I remain skeptical.

    September OPs: £0.00
    September Offset: £0.00

    Current (offset) balance: £107,383.17
    Month we’d be in to get to our current balance without OPs: March 2027 (+2 months)

    2017 Overpayments: £10,053.84
    2017 Offset Savings: -£6,171.94
    2017 Interest Saved: £3,752.04

    Total Overpayments/Offsets: £68,117.12
    Total Interest Saved: £56,094.26

    Daily Interest: £7.08 (down £0.06)
    Monthly Interest: £219.08 (down £1.71)
    September 2016 Interest: £273.76 (down £54.28)
    September 2016 Daily Interest: £9.11 (down £2.03)

    House Bricks: 1

    Mortgage reduction: £12,285/£20,000 (61%) (Average: £1,228.57/mo)

    OPs on pause for now…still coloured in a brick though.

    Net worth increase: £51,207/£80,000 (64%)

    Steady progress here.

    MFIT-4: £52,116/£90,000 (57%)
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,669 / Oct '17 £106,575
    2017 MFW #56: £13,093/£20,000 65% / MFiT-T4 #15: £52,924/£90,000 58%
    • hiddenshadow
    • By hiddenshadow 2nd Oct 17, 12:22 PM
    • 2,241 Posts
    • 10,111 Thanks
    hiddenshadow
    October Goals
    Finally feeling like we're back in a regular groove re: life/finances, so it's time for some goals.

    UK EF: £0/£600 (this would put it at £4,500, ultimately want it at £5,000)
    Ireland EF: €0/€100 (this would put it at €600, ultimately want it at €5,000)

    Groceries: €96.37/€200 (hoping to get this closer to €150 long-term, but we're still stocking up on staples)
    Transfer £ to €: £0/£2,500
    Move forward in one way or another re: horrible estate agents (hoping to hear back from them this week, though anticipate they'll say nothing of substance)
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,669 / Oct '17 £106,575
    2017 MFW #56: £13,093/£20,000 65% / MFiT-T4 #15: £52,924/£90,000 58%
    • hiddenshadow
    • By hiddenshadow 4th Oct 17, 2:49 PM
    • 2,241 Posts
    • 10,111 Thanks
    hiddenshadow
    As expected, estate agents did not act amazingly with their response. Their response was so extra un-amazing, though....I couldn't even read it in detail, I just skimmed and raged. (Will need to read in detail at some point, sadly.) Now we're hunting solicitors to hopefully not charge us tons of money to advise us that we can write them a nasty letter and make them not be crap. (We'll see how well that plan pans out.)

    Mostly NSDs these days as we're generally at home working, which is nice. Weekends are errands/groceries/etc, which has been working out well so far.

    Not much else to report...work has given me the week off to rest after insane work the past few months, so I'm trying to relax and take advantage of it. I'm sure it'll be back to insane/manic next week though.

    UK EF: £0/£600
    Ireland EF: €0/€100

    Groceries: €96.37/€200
    Transfer £ to €: £300/£2,500 (12%)
    Find solicitor to deal with horrible estate agents
    File complaint with Property Ombudsman
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,669 / Oct '17 £106,575
    2017 MFW #56: £13,093/£20,000 65% / MFiT-T4 #15: £52,924/£90,000 58%
    • jodles16
    • By jodles16 7th Oct 17, 12:10 PM
    • 1,313 Posts
    • 3,954 Thanks
    jodles16
    Hey hiddenshadow,

    Lots has happened since I was last here, I am hoping it will all sort to sort itself out now, did you hear back about a partial refund for the late delivery?

    Keep up the fab work!

    Jodles
    MFW2017 #29 1200.24/4524
    MFiT #66
    Overall aim 10,124.20/21,743 (£156,000)
    2016- Jan-£177,472, Apr-£173,195.04, July- £171,417.47 Oct- 169,366
    2017- Jan- 167,347.80 Apr- July- Oct-

    • hiddenshadow
    • By hiddenshadow 7th Oct 17, 6:00 PM
    • 2,241 Posts
    • 10,111 Thanks
    hiddenshadow
    Hi jodles, thanks for checking in.

    That reminds me...the delivery company never did get back to me. I wasn't really expecting a refund, but an actual response would be nice. I do still need to write them a very lukewarm (verging on cold?) review online...we did get our things in the end, so I guess that's the main part, but their communication was non-existent. Sigh.
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,669 / Oct '17 £106,575
    2017 MFW #56: £13,093/£20,000 65% / MFiT-T4 #15: £52,924/£90,000 58%
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