Mortgage free by 2021?!

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  • Moneyfordreams
    Moneyfordreams Posts: 2,442 Forumite
    First Anniversary Name Dropper First Post
    congratulations on your new job :D
    Mortgage restart June 2018 £119950Re mortgage August 19 £110470, … Mortgage November 22 £85600 final 0% CC 3300Home renovations - £65000, mid 2018 - mid 2022
  • hiddenshadow
    hiddenshadow Posts: 2,525 Forumite
    Thanks, all! Still waiting on references to check out (oddly paranoid about that even though I'm sure my current job will be fine with it) and the contract to come through (no expected surprises there). Only 3 more weeks of being a lady of leisure - maybe now I can actually work on those websites as job hunting is done. :)
    shangaijimmy wrote: »
    Congratulations. Surely a new job means you'll need to make some spreadsheet adjustments...

    I hope so! Pay won't go up as high as I'd like as HMRC is claiming - again - that I've underpaid tax for 2014/5. Need to phone them about that today, actually.

    Even with that, though, pay should still go up by about £200 thanks to not having the season ticket loan. And the pension contribution should go up by at least £300/mo - should be more with employer contribution as well. :D

    In mortgage news, Clyde$dale switch bonus came in right at the 60 day mark so £150 more OPed. :) Current balance £149,481.68. And only one day to regular payment day!
  • hiddenshadow
    hiddenshadow Posts: 2,525 Forumite
    DH sold more DVDs (hallelujah!) so another £26.28 off to the mortgage. :D
  • hiddenshadow
    hiddenshadow Posts: 2,525 Forumite
    March OPs: £2,054.15

    Current balance: £149,455.40
    Month we’d be in to get to our current balance without OPs: December 2021 (+ 5 months!)

    2016 Overpayments: £9,448.52
    2016 Interest Saved: £9,138.54

    Total Overpayments: £34,648.80
    Total Interest Saved: £37,599.48

    Daily Interest: £9.99 (down £0.40)
    Monthly Interest: £287.83 (down £31.92)
    March 2015 Interest: £633.50 (down £323.67)
    March 2015 Daily Interest: £20.44 (down £10.45)

    House Bricks: +3!

    Mortgage reduction: £12,187/£30,000 (40%) (Average: £4,062.33/mo)

    Keeping on, still surprised we've managed to add on to our £1,400/mo OPs! Bank switching bonus helped out this month. :)

    Stocks & shares ISA: £1,000/£1,200 (83%)

    No change

    Fitness: 40/150 runs (46%)

    Cheating a bit by counting 4 days of holiday as cardio...we did walk over 35 miles during those 4 days, though! Hoping to get to 5k distance with running in April.

    Net worth increase: £19,885.04/£65,559.14 (30%)

    Doing quite well here, our net worth is now greater than our total debts. :D

    MFIT-4: £10,044.60/£90,000 (11%)

    Still ahead of the game. :)
  • hiddenshadow
    hiddenshadow Posts: 2,525 Forumite
    HMRC was remarkably unhelpful. I got two letters within 2 days of each other stating vastly different amounts (one £1,400+, then sub-£300!). HMRC person said he saw the £1,400 amount (of course...) but that they were waiting on P60s to get to them in April and then they'd update the figures. So no need to do/pay anything right now.

    Which makes one wonder...1) what's the point of sending letters saying you have to pay if you're just going to change the amounts in 2 weeks? 2) why doesn't HMRC already know what I've paid in tax without my employer sending them a P60? surely the money goes into HMRC's coffers every month...

    At any rate, will hope that the £1,400+ figure does not include the extra £100 I've been paying the last year, which would make the £300 make more sense. Not sure how they'll collect it, but if they don't take it automatically I can setup a payment plan and not pay any interest. :D

    Still waiting on work to confirm my April pay situation, so I'm not anticipating a rapid resolution with HMRC either, frankly. :mad:
  • hiddenshadow
    hiddenshadow Posts: 2,525 Forumite
    hiddenshadow wrote: »
    T3sc0 did say they would reverse their two charges, will phone Clyde$dale and see if they take pity on me and reverse theirs as well (if the DD had gone out on the date T3sc0 gave me, it would have worked!).

    Update on this - T3sc0 did reverse their two charges, but then added a third - interest! Phoned up today and the woman looked up my record and said that since they refunded the two charges they should refund the third (...and fourth...apparently somehow we'll get dinged with 1 day of interest on our April statement??). So that's £16.59 back to us. :)

    Thumbs up for one banking hassle being handled well.
  • lippy1923
    lippy1923 Posts: 1,374 Forumite
    First Anniversary First Post Combo Breaker
    I did post on your thread at lunchtime but it appears not to have worked! Congrats on the job. Very happy for you :)
    Total Mortgage OP £61,000
    Outstanding Mortgage £27,971
    Emergency Fund £62,100
    I AM NOW MORTGAGE NEUTRAL!!!! <<Sep-20>>

  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
    Name Dropper First Anniversary First Post
    Great figures, momentum is certainly being generated in here!
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
  • hiddenshadow
    hiddenshadow Posts: 2,525 Forumite
    Regular payment and OP have gone out, plus £40.21 from budget tidying/surveys. Current balance £146,953.02. :D

    Next month will take a hit thanks to the lowered pay but in the meantime yay momentum!
  • hiddenshadow
    hiddenshadow Posts: 2,525 Forumite
    Sneaky £4.22 OP made as we bought mobile apps in USD. :)

    Otherwise nothing to report - quiet day aside from a run in the afternoon. Glad I went but feeling the effects after...hoping the joints aren't too achy tomorrow.
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