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  • FIRST POST
    • sammy70
    • By sammy70 24th Sep 13, 4:58 PM
    • 481Posts
    • 1,313Thanks
    sammy70
    our forever patch challenge
    • #1
    • 24th Sep 13, 4:58 PM
    our forever patch challenge 24th Sep 13 at 4:58 PM
    well, this week sees the new start to my mortgage free plans. After 18 months clearing debts, then paying for our wedding, which took most of our hard earned savings, we are at the beginning again.

    Due to restructure at work, OH is on a reduced monthly pay, so the savings are even more of a challenge!
    Our plan is over the next two-three years, build up savings , and make over payments, untill we have enough saved to clear the outstanding balance owed on our mortgage, then sell this house, and use the sale proceeds as deposit on our "forever home", we really want somewhere with an acre or so of land, to allow me to have my own horse again, and OH to have garage/workshop he has always wanted.

    we both get paid this week, i will open new savings online, and let the challenge to get our new home begin!, we get married on Friday, this will be the start of our married life adventure too, !!
Page 1
    • sammy70
    • By sammy70 24th Sep 13, 5:29 PM
    • 481 Posts
    • 1,313 Thanks
    sammy70
    • #2
    • 24th Sep 13, 5:29 PM
    here goes!
    • #2
    • 24th Sep 13, 5:29 PM
    just checked, and as of today our mortgage balance stands at £40,902.65.
    Ive just made the first overpayment of my challenge- £55.14!

    Im hoping this diary will keep me motivated, and will be some thing to track my progess to our new life in our forever home.

    Next week after our "honey moon", i plan to organise all our savings pots using online savings, for emergency fund, house savings, and house hold/diy savings.

    I cant wait to get stuck into this new challenge!
    • MallyGirl
    • By MallyGirl 24th Sep 13, 5:29 PM
    • 2,096 Posts
    • 6,963 Thanks
    MallyGirl
    • #3
    • 24th Sep 13, 5:29 PM
    • #3
    • 24th Sep 13, 5:29 PM
    What an exciting time I hope it all goes well on Friday
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    • sammy70
    • By sammy70 24th Sep 13, 5:33 PM
    • 481 Posts
    • 1,313 Thanks
    sammy70
    • #4
    • 24th Sep 13, 5:33 PM
    • #4
    • 24th Sep 13, 5:33 PM
    Thanks MallyGirl!
    • kirstypark
    • By kirstypark 24th Sep 13, 8:03 PM
    • 768 Posts
    • 3,528 Thanks
    kirstypark
    • #5
    • 24th Sep 13, 8:03 PM
    • #5
    • 24th Sep 13, 8:03 PM
    good luck for friday
    mortgage 1 33,000. paid nov 2012 . mortgage 2 87,000 due 51,686.76 at july 2013, but then:new home and remortgage ... £101065.43 now 74k
    • sammy70
    • By sammy70 25th Sep 13, 8:41 AM
    • 481 Posts
    • 1,313 Thanks
    sammy70
    • #6
    • 25th Sep 13, 8:41 AM
    • #6
    • 25th Sep 13, 8:41 AM
    Thank you Kirstypark!

    Just doing last minute wedding preparations today, very exciting

    Im hoping to do full S.O.A Tuesday next week, but have no idea how to set up my signature for targets etc, help would be really appreciated..
    • Calfuray
    • By Calfuray 25th Sep 13, 3:36 PM
    • 974 Posts
    • 5,904 Thanks
    Calfuray
    • #7
    • 25th Sep 13, 3:36 PM
    • #7
    • 25th Sep 13, 3:36 PM
    Above the title of this thread, there's a banner in green, or the right hand side (as long as you're logged in) there is a 'Quick Links' option, click on that, then about half way down there is 'Edit Signature'.

    HTH!

    Cal
    • sammy70
    • By sammy70 26th Sep 13, 8:40 PM
    • 481 Posts
    • 1,313 Thanks
    sammy70
    • #8
    • 26th Sep 13, 8:40 PM
    • #8
    • 26th Sep 13, 8:40 PM
    Thank you Calfuray, i will get my signature sorted Tuesday, Along with S.O.A/ list my targets for the next three years.
    Im looking forward to the challenge, and everyone on this forum are such an inspiration, ive followed quite a lot of threads on here for years, so its about time i got stuck in to my own !

    Last minutepreparations/ panics today in preparation for our wedding tommorow, cant wait!! fingers crossed for sunshine..

    xSammyx
    • Calfuray
    • By Calfuray 28th Sep 13, 8:08 PM
    • 974 Posts
    • 5,904 Thanks
    Calfuray
    • #9
    • 28th Sep 13, 8:08 PM
    • #9
    • 28th Sep 13, 8:08 PM
    Thank you Calfuray, i will get my signature sorted Tuesday, Along with S.O.A/ list my targets for the next three years.
    Im looking forward to the challenge, and everyone on this forum are such an inspiration, ive followed quite a lot of threads on here for years, so its about time i got stuck in to my own !

    Last minutepreparations/ panics today in preparation for our wedding tommorow, cant wait!! fingers crossed for sunshine..

    xSammyx
    Originally posted by sammy70
    I'm sure you are busy... but how was it? Congrats Mrs!
    • sammy70
    • By sammy70 30th Sep 13, 6:16 PM
    • 481 Posts
    • 1,313 Thanks
    sammy70
    Im married!

    The day was perfect, everything wehad hoped for..

    We have had a lovely long weekend in a 12th century inn in the middle of the derbyshire moors, four poster bed, lovely deep bubble baths, very romantic!

    X sammy X
    • Tahlullah
    • By Tahlullah 30th Sep 13, 10:32 PM
    • 799 Posts
    • 4,690 Thanks
    Tahlullah
    Congratulations to both you and Mr Sammy70!
    • SmlSave
    • By SmlSave 1st Oct 13, 11:13 AM
    • 4,702 Posts
    • 16,360 Thanks
    SmlSave
    Congratulations Sammy70, so glad the day and weekend went well
    Boy Smllet born 23/06/2011 and Girl Smllet born 01/03/2014

    5 year challenge to pay off £20,000
    £350 per month challenge
    • sammy70
    • By sammy70 2nd Oct 13, 10:28 AM
    • 481 Posts
    • 1,313 Thanks
    sammy70
    whoops, sent post twice!
    Last edited by sammy70; 02-10-2013 at 10:30 AM. Reason: duplicate post
    • sammy70
    • By sammy70 2nd Oct 13, 10:28 AM
    • 481 Posts
    • 1,313 Thanks
    sammy70
    My list of targets for the next 36 months!

    mortgage balance 1/10/13- £40,558.52

    Target 1 = save £30,000 to completely pay off mortgage in 36 months from today!! 1/10/13- £3,500..

    Target 2- £10,000 in emergency fund- 1/10/13 - £1,250.

    Target 3- £4,500 in diy fund to replace tatty kitchen, re-carpet and decorate in preparation of house sale in 36 months! 1/10/13 - £20

    Target 4 - Save £5,000 for horse.. forever home is going to be more rural to allow for this.. 1/10/13 balance- £20

    Here goes, month 1!
    • sammy70
    • By sammy70 3rd Oct 13, 8:05 AM
    • 481 Posts
    • 1,313 Thanks
    sammy70
    Second over payment of my challenge!
    The jfirst overpayment of the month- £2.33.. every little helps!

    We arent back at work until Monday, then any cash leftover from honey moon spends/wedding gifts will be divided between house savings and an overpayment i think..

    x sammy x
    Last edited by sammy70; 08-10-2013 at 3:33 PM. Reason: .
    current official end date of mortgage= 2037-aiming for 2030
    mortgage balance start of challenge- 25/11/2016 £245,695
    overpayments 28th nov 2016-01st dec 2017 =£6018.63
    mortgage balance of currently = £229,140:eek 01/12/2017
    • Crumpets
    • By Crumpets 3rd Oct 13, 11:22 AM
    • 813 Posts
    • 2,579 Thanks
    Crumpets
    Congratulations on being a Mrs Sammy70 and good luck with your plans.

    Crumpets x
    Mortgage March 2011 £143,9276
    Mortgage May 2016 £98, 728.66
    OP total so far £14,290.99
    MFW2016 #40 £825.75/£2000
    • sammy70
    • By sammy70 5th Oct 13, 8:36 PM
    • 481 Posts
    • 1,313 Thanks
    sammy70
    Thanks Crumpets!

    Another overpayment to the mortgage today,£67.89, im going to continue making overpayments when i can, though the savings targets ive set are going to be tough, so ill have to see how i go, savings are priority to meet my 36 month targets!

    This month wont be as bad, as we had cash spare from honey moon fund, ive paid today £250 to the emergency fund, so that stands at £1500, and the £67.89 was the other leftover spends.. So savings for month 1 of 36 are well underway!

    To meet my £30,000 to settle mortgage in 36 months target im going to have to save £736 every month, on top of the £3,500 we have saved already, along with kitchen/diy of £125, £250 emergency, £138 horse and £183 car, so total every month £1425!
    Dont know if its all achievable, im certainly going to give it my best shot!
    X sammy x
    current official end date of mortgage= 2037-aiming for 2030
    mortgage balance start of challenge- 25/11/2016 £245,695
    overpayments 28th nov 2016-01st dec 2017 =£6018.63
    mortgage balance of currently = £229,140:eek 01/12/2017
    • gallygirl
    • By gallygirl 5th Oct 13, 9:30 PM
    • 16,460 Posts
    • 107,863 Thanks
    gallygirl
    No point setting easy targets . Good luck .
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    Mortgage Balance = £0
    "Do what others won't early in life so you can do what others can't later in life"
    • LisaLou1982
    • By LisaLou1982 6th Oct 13, 12:19 AM
    • 1,255 Posts
    • 1,453 Thanks
    LisaLou1982
    Good luck Sammy!!

    You WILL do it! x
    £2 Savers Club #156!
    Looking for holiday ideas for 2016. Currently, Isle of Skye in March, Riga in May, Crete in June and Lake District in October. August cruise cancelled, but Baby due September 2016!
    • sammy70
    • By sammy70 7th Oct 13, 5:13 PM
    • 481 Posts
    • 1,313 Thanks
    sammy70
    Today we have paid £65 into our mortgage savings, this was a Refund from RBS for mistakes they made updating my husbands credit file.
    My husband had a DMP when i met him, which we paid off well over a year ago.

    Does anyone have experience of how long to wait before successfully obtaining a mortgage after clearing a DMP?
    All debts were completely cleared 2 years into the 5 year plan.

    x Sammy x
    current official end date of mortgage= 2037-aiming for 2030
    mortgage balance start of challenge- 25/11/2016 £245,695
    overpayments 28th nov 2016-01st dec 2017 =£6018.63
    mortgage balance of currently = £229,140:eek 01/12/2017
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