Adding value before making over payments

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  • MichaelDH
    MichaelDH Posts: 154
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    Well not too much of a spendy weekend.

    Friday we went to a friend's for dinner, she's Italian so of course the food was wonderful. I drove so although we took a couple of bottles of Prosecco with us we only had a glass each.

    Saturday we sorted out the garage and found a few items that we plan to sell on local facebook selling page. Popped to a local deli for sandwiches for lunch, which were nice but really not worth the £12 it cost us! Dinner was a Chinese takeaway which was a bit of a waste of money as it wasn't particularly nice but we were both feeling a but rubbish and didn't want to cook.

    Sunday we popped to B&M for a new bed and some toys for Oscar. Spent a fraction of what we would have normally spent at Pets at Home so quite pleased about that.

    Have decided that we were a bit silly not making over payments for the past year so we are going to make up for that by paying £1000 to the mortgage (instead of the usual £668) for the next 10 months when the mortgage deal ends. This should get the mortgage to just under £160K. Additional payment will also get us used to paying out more if we do decide to borrow more money to fund extension.

    We have set ourselves the goal to make £4k of over payments between now and when the mortgage deal ends in June, which is rather ambitious, but monthly over payment will make up almost £3,200 of this so only got to find another £800. Wish us luck! Will have to work out how to set a signature...

    I have been completing surveys on Prolific. Up to £17.68 confirmed and £10.80 pending (just completed a £5 survey on my lunch break) so that's not bad going in less than a week. Going to build up funds and then request payment and send it across to the mortgage. Have also got £73 tracked on Quidco that will go across to the mortgage.

    If any one is actually reading this then good luck with you mfw efforts for the week ahead!
    Starting Balance August 2016: £170,199.00 | Remortgaged August 2018: £212,000.00
    Current Balance (15th February 2019): £209,278.85 :eek:
    Target: Balance below £170,000.00 by August 2023 :)
  • MichaelDH
    MichaelDH Posts: 154
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    Did an Asda shop last night and it only came to £40 and a few pennies which I am very pleased with, especially as that included toilet roll, floor cleaner and a couple of bottles of shower gel so wasn't all food. Best of all, just checked my receipt online and printed off a voucher for £2.71. Had another receipt in my wallet so checked that too and got a voucher for £1.31, so that's £4.02 off next weeks shopping :)

    Also, checked electric and gas readings this morning. Since we switched supplier on the 14th July we've used 360 units of electric and 4 units (126 kWh) of gas, which I don't think is too bad at all. Going to set up a spreadsheet to monitor this and hopefully that will remind me to submit meter readings regularly. Is once a month too much, or should it be more often?
    Starting Balance August 2016: £170,199.00 | Remortgaged August 2018: £212,000.00
    Current Balance (15th February 2019): £209,278.85 :eek:
    Target: Balance below £170,000.00 by August 2023 :)
  • Kittenkirst
    Kittenkirst Posts: 2,563
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    Hi Michael!
    We submit ours on a monthly basis: anything more than that is probably overkill :D

    Congrats on having had your house for a year!! :heartpuls:
    First home- Oct’16 until June’21: £170.995- Overpayments made £13,784 (25% extra!).
    New forever home- Sep’21 £309,449 @ 2.05%. Plan to clear it before 30 years!!!!!!
  • MichaelDH
    MichaelDH Posts: 154
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    Hi Michael!
    We submit ours on a monthly basis: anything more than that is probably overkill :D

    Congrats on having had your house for a year!! :heartpuls:

    Thank's KK. In some ways it seems like we've been here ages and others it doesn't seem like five minutes since we collected the keys :)

    Will set myself a reminder to submit meter reading each month Out of interest what do you guys pay? Our DD for Gas and Electric is £78.50 with Sainsbury's. Hoping we can get that down a bit as have based it on last years usage which included a few months of drafty old windows and no central heating so using oil filled radiators and fan heaters instead.
    Starting Balance August 2016: £170,199.00 | Remortgaged August 2018: £212,000.00
    Current Balance (15th February 2019): £209,278.85 :eek:
    Target: Balance below £170,000.00 by August 2023 :)
  • I had completely forgotten about the Asdy's price guarantee; thanks for the reminder. Need to actually make myself go to Asda more often, have gotten into the bad habit of going to Sainsbys because it's closer and smaller (can't stand supermarkets!) Is definitely costing more this way though.

    Similarly to yours our kitchen is quite dark, we've talked about removing the wall between kitchen and living room to make one big kitchen/diner/family room type area but it's so far down the list it may never get done! Looking forward to hearing how your extension plans go :)
    MFiT-T4 #75: £142,480 to £86,700 by Jan 2019
    [STRIKE]Feb16: £142,480[/STRIKE]. [STRIKE]April16: £138,900[/STRIKE]. [STRIKE]July16: £132,242[/STRIKE][STRIKE] Oct16: £129,824[/STRIKE], July17: £115,841
  • MichaelDH
    MichaelDH Posts: 154
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    I had completely forgotten about the Asdy's price guarantee; thanks for the reminder. Need to actually make myself go to Asda more often, have gotten into the bad habit of going to Sainsbys because it's closer and smaller (can't stand supermarkets!) Is definitely costing more this way though.

    Similarly to yours our kitchen is quite dark, we've talked about removing the wall between kitchen and living room to make one big kitchen/diner/family room type area but it's so far down the list it may never get done! Looking forward to hearing how your extension plans go :)

    Hey porgiegeorgie

    I had forgotten about the price guarantee until today. Will definitely make sure I check receipts from now on, even if I get a voucher for 10p every little helps :)
    Starting Balance August 2016: £170,199.00 | Remortgaged August 2018: £212,000.00
    Current Balance (15th February 2019): £209,278.85 :eek:
    Target: Balance below £170,000.00 by August 2023 :)
  • MichaelDH
    MichaelDH Posts: 154
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    Evening all

    Very productive day today. Completed a survey on PineCone (£3) so i'm now up to £6 and will cash out later. Completed two surveys on Prolific (50p and £7!) so now showing a balance of £34.13 plus £5.35 pending. Think I will cash out later, KK look out for your 10%!

    Also managed to call the Coventry to find out mortgage balance. It's currently at £166,288.64 which is slightly less than I expected, but still quite scary! :eek:

    So the challenge is on to get the balance below £160k by June 2018 when out current deal ends. Wish us luck!

    Will set up a signature tonight if I get time :)
    Starting Balance August 2016: £170,199.00 | Remortgaged August 2018: £212,000.00
    Current Balance (15th February 2019): £209,278.85 :eek:
    Target: Balance below £170,000.00 by August 2023 :)
  • Kittenkirst
    Kittenkirst Posts: 2,563
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    Wow on your prolific surveys! That's so impressive! I've been quiet on them recently as works been swamped so I haven't been taking my breaks properly!! :D

    For our gas & elec we pay £70 a month but have had two refunds already (£200 I think in total) and we're still in credit. I'm naturally pretty warm anyways and the new build is very well insulated.
    First home- Oct’16 until June’21: £170.995- Overpayments made £13,784 (25% extra!).
    New forever home- Sep’21 £309,449 @ 2.05%. Plan to clear it before 30 years!!!!!!
  • MichaelDH
    MichaelDH Posts: 154
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    Hey KK

    I think the trick with Prolific is to check as often as possible. Chuffed this afternoon when I landed a £7 survey. Luckily my boss finishes as 3pm every day :)

    Just requested the funds from Prolific and PineCone and checked the over payment calculator, £40 saves about £47 in interest which isn't to be sniffed at :rotfl:

    £70 is good for gas and electric, especially with receiving refunds too! You will probably save even more now with the Nest thermostats!
    Starting Balance August 2016: £170,199.00 | Remortgaged August 2018: £212,000.00
    Current Balance (15th February 2019): £209,278.85 :eek:
    Target: Balance below £170,000.00 by August 2023 :)
  • MichaelDH
    MichaelDH Posts: 154
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    Well that was an anti-climax... finally have the details needed to log in to the Coventry but there's absolutely zero features of any use, except of course the ability to check balance :mad:

    So, I will have to call them tomorrow to find out how to amend the direct debit (increasing it from £668 to £1000) and also how to make over payments.

    Funds from PineCone and Prolific have hit my paypal account (£38.95 after fees) so I've transferred them to my current account and will round up to an over payment of £40 - our first over payment!!! :)

    In other money saving news, Drew fancied Domino's Pizza for dinner which would have been nice but very expensive, so I was creative and having popped to the supermarket on my way home from work came up with home made pizza using pitta bread bases. They were delicious, I've made extra and frozen them for another day, and a fraction of the cost of Domino's :p
    Starting Balance August 2016: £170,199.00 | Remortgaged August 2018: £212,000.00
    Current Balance (15th February 2019): £209,278.85 :eek:
    Target: Balance below £170,000.00 by August 2023 :)
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