Pay off mortgage and start having fun!

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  • Peonie
    Peonie Posts: 1,471 Forumite
    Hi, I've just caught up. Sorry about DD's grades. It sounded like she worked hard.
    Pots: House £6966/£7100, Rainy day Complete, [STRIKE]Sunny day £0/£700[/STRIKE], IVF £2523/£2523, Car up-keep £135/£135, New car £5000/£5000, Holiday £1000/£1000, MFW #16 £2077/£3120
    MFiT3 #86: Reduce mortgage from £146,800 to £125,000
    Mortgage Sept 2014: £135,500, MF Oct 2035 Peak July 2011: £154,000, MF July 2036
  • newgirly
    newgirly Posts: 8,894
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    Thanks Peonie, hope you are well :)

    I did my first aldi shop from the new budget, loads of stuff for £33 plus a free range medium chicken for £4.99 I thought I'd try. I don't usually buy free range but would prefer apart from the fact they are often double the price.

    Not sure what will happen over the next few months money wise, we have to get together the money for a bathroom suite and tiles, plus blinds/curtains/carpets when the loft is done, I think by the time its all covered it will be virtually the end of the year. I've taken the op target off my signature as I don't think much if anything will get paid off this year apart from the loan and cc payments :o

    Oh well, onwards and upwards , hope everyone had a nice bank holiday weekend
    2022 MFW 67 - 33 month challenge to clear mortgage, month 17 completed and and extra 2 knocked off 🙂MFI3 No.12
  • newgirly
    newgirly Posts: 8,894
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    College appointment this afternoon to discuss dd's options :eek:

    Other than that I have wasted a whole morning playing with the mortgage op spreadsheet. I rang the bs to get a up to date balance and asked when they will put the mortgage accts online like many other providers and they said they do it already! Bit odd as I ask every time I ring up, anyway I have registered and so will see the balance online in a few days :T I also asked how long the term left is and its 8 yrs 8 months.

    We are still IO with debts of £29k ish due to the loft conversion, so plan is to start oping the loan in nov this year (giving a couple of months breathing space while loft is being done ) that should be cleared in April 2014 , then op the 0% cc's , which takes us another year , then snowball the lot to the mortgage. Coupled with an extra mortgage op of £600 a month from jan2015 from when I start working for dh it is just about enough to clear everything by our current official end date of april 2022 when I will be 47 and dh 50.

    This doesn't allow for any big expenses over the years like cars/ nice holidays etc. so we will see, plus its virtually all of my new wages gone :o but its nice to know that it is a possibility if we really wanted it bad enough.
    2022 MFW 67 - 33 month challenge to clear mortgage, month 17 completed and and extra 2 knocked off 🙂MFI3 No.12
  • pink_poppy
    pink_poppy Posts: 1,384
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    Hope your DD's college appointment goes well this afternoon & she's able to do the course she wants :)
    'A watched potato will never chit'...
  • Sounds like you are working it out though newgirly. You of course never know what'll turn up between now and the mortgage end date, and all our plans are only ever best guesses, but yours sounds feasible. We have recently consolidated / paid our debts and now only have the mortgage and even though it is one big lump, it feels easier and simpler and more manageable than the many smaller nagging debts.

    Good luck with the college stuff btw.
  • newgirly
    newgirly Posts: 8,894
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    Hi, thanks pink poppy and southerndave for popping in. SD it is a big pain having multiple debts again, especially as we cleared all our debts over the last few years only to have to start over. Well done on paying all yours off.

    The college meeting went ok, she is now doing the same subject but btec not alevel, it covers a couple of the subjects she was taking at a level. The only bug bear is she is one grade in one gcse away from being able to start at the higher level btec so will have to start at level 2 which means doing an extra year, but with this she may be able to possibly take an extra a level in the second year. But all seems positive :)

    Up way to early today, woken by a dream about my late grandad which was nice but sad, so I thought I'd make a cuppa and catch up on diaries.
    2022 MFW 67 - 33 month challenge to clear mortgage, month 17 completed and and extra 2 knocked off 🙂MFI3 No.12
  • newgirly
    newgirly Posts: 8,894
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    :j we have scaffolding up on the front of the house :D they are doing the back tomorrow and then starting the loft on Monday.

    Went to aldi today with my £5 off voucher and spent £ 50, oops. Did get a double bed set for dd for £15 though, quilt , 2x pillows and mattress and pillow protectors as she is having our old double bed when she moves room.

    Spent this morning with best friend, her young boys and the dogs at the local country park which was nice, my lot were too lazy to come though, roll on school I say, they will have to get up and dressed early then.
    2022 MFW 67 - 33 month challenge to clear mortgage, month 17 completed and and extra 2 knocked off 🙂MFI3 No.12
  • skint_spice
    skint_spice Posts: 12,571
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    Great news that they are starting at last! Hope it all goes smoothly.
    Mortgage End Date: Apr 36/Aiming for Aug 28/Current Nov 35

    Mortgage OP 2024 £1500/7000

    Mortgage balance: £53705

  • Sound good about the college thing. Education was never my bag, kind of life educated, but good to see youngsters doing more to educate themselves.
  • newgirly
    newgirly Posts: 8,894
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    Scaffolders are back this morning, we spent last night cutting back a massive clematis that's been growing over the conservatory for 10 yrs so they can reach the house. :o

    Is dh's birthday this Sunday and he wants to go for lunch at the harvester with the kids, other Than that he just wants to stay in and watch a movie, so not too high maintenance. I have only bought Him a DVD of the hobbit and some primarni socks, I feel really mean but he doesn't want anything really. I think I'll take him to the cinema on orange weds as well maybe :D

    I feel like we are a million miles away from oping the mortgage at the moment, we couldn't add the loft the loan to the mortgage and there is no hope of remortgage for at least 3 yrs , so we now have a loan and 2 x 0% cc's with the £30k odd on it to plough through first. It took 3 years last time to clear 30k when I first joined mse, I know its not that long but it feels it at the moment.
    2022 MFW 67 - 33 month challenge to clear mortgage, month 17 completed and and extra 2 knocked off 🙂MFI3 No.12
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