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  • FIRST POST
    • Betterthanever
    • By Betterthanever 1st Sep 17, 1:17 PM
    • 403Posts
    • 2,181Thanks
    Betterthanever
    New but not new - Year 1 of 5!
    • #1
    • 1st Sep 17, 1:17 PM
    New but not new - Year 1 of 5! 1st Sep 17 at 1:17 PM
    Hi! I'm a re-joining member of old.....and whilst I'm reluctant to give up my previous 10,000 post count, I also don't fancy ex husband following my every move as I go into this next exciting chapter of life! I was a DFW stalwart for years, but am pleased to announce am on the MFW journey....with vigour

    I've not been on the boards for a while but it's lovely to see some familiar names and it's comforting having made the decision to come back!

    I'm mid 40s, kids are grown up and more or less independent (one just moved out and one still creating mess at home). I'm lucky enough to have met a fabulous man who was mad enough to marry me a couple of years ago, and life is just the best.

    The house is mine as I bought ex-h out in the divorce, which means the mortgage is also mine. We have plans and desires to start reducing our working stresses in 5 years time and oh can start drawing his lump sum and his pension then if he wishes. As we both lost out dads at 55, we are mindful of the fact we are not here forever. On the other hand we are fit and healthy so would hope to have a good few years to enjoy life ahead of us.

    We love to spend time together and travel and want to do more of this without being tied into 5 weeks annual leave allowance!

    So....all this starts with the fact my fixed rate comes to an end soon. I can switch on 31st October. The remaining term should be 11 years but I've done my calculations and reckon if I take a 5 year fixed rate, I can finish it off when that comes to an end....taking me to 52 and OH to 56 so still plenty of years ahead of us for living!

    My starting point is a current mortgage figure of £116,879.11. It's no small challenge but I'm no stranger to that and I'm going to enjoy this one an awful lot

    I feel like I've come home.....
    Last edited by Betterthanever; 03-11-2017 at 8:45 AM.
Page 21
    • shangaijimmy
    • By shangaijimmy 7th Dec 17, 12:53 PM
    • 2,280 Posts
    • 10,592 Thanks
    shangaijimmy
    Well i'm gonna buck the trend and say i've no idea who you are!! But glad to have another household sharing the journeys. We have a similar plan in that our next fix will be a 5 yr one which we hope to clear it all by the end of, however we have 1 more year to go on this fix before we get to that stage. So with you all the way but i expect you to beat us by 12-18months!
    MFW: Turning June 2036 into March 2023... 33//120 Payments Challenge, Diary Reduction £35,448.08
    Aug 2009: £163,051 // Current: £100,551.94 // Avg Daily Interest £4.52
    MFiT-T4 #8 - 56.74% of £41,000
    • Betterthanever
    • By Betterthanever 7th Dec 17, 2:59 PM
    • 403 Posts
    • 2,181 Thanks
    Betterthanever
    Hello!! Well, as we will be increasing our mortgage a bit for the new house, we may well be finishing our mortgage a year later than originally expected, so we certainly won't be far off!

    I'm so looking forward to the next five years....fingers crossed for you that rates don't go up in the next 12 months by any great margin! Mind you, my first mortgage in 1989 was at 16% so we are a long way off that kind of nightmare!! My first fixed rate was at 8% which I thought was amazing!!!

    Current balance £114,744.64. Offset £2,151.73. £112,592.91 needed to be mortgage neutral!
    End date - 03/29 but aiming for 10/22

    Former DFW Nerd 230. Determined to be MF. Bring it on!
    • museumworker
    • By museumworker 8th Dec 17, 5:21 PM
    • 2,000 Posts
    • 11,342 Thanks
    museumworker
    Wonderful news on the new home And am sure those 9 months will fly by!
    Mortgage 16/03/2011: £190K 01/01/2017: £107,729.65 01/07/2017: £95,979.89
    OPs 2011-2016 = £45K 2017 OPs = £9250.20
    • benbenandme
    • By benbenandme 8th Dec 17, 6:37 PM
    • 10,284 Posts
    • 26,417 Thanks
    benbenandme
    Fab news on the house, I remember your excitement when you got the current one
    Mortgage Total: £75,000 £73,315 Mortgage End Date: May 2040
    Brother's loan: £4500 / £25,000
    Holiday Fund: £667 / £1800
    • Betterthanever
    • By Betterthanever 8th Dec 17, 7:23 PM
    • 403 Posts
    • 2,181 Thanks
    Betterthanever
    Yes. The current house was the definite start of a new era....it was just what we needed as a newly "single" family. Now it's time for DH and I to have our forever home, and it is going to be the continuation of a life that has been fabulous for the last few years!!!

    Current balance £114,744.64. Offset £2,151.73. £112,592.91 needed to be mortgage neutral!
    End date - 03/29 but aiming for 10/22

    Former DFW Nerd 230. Determined to be MF. Bring it on!
    • Betterthanever
    • By Betterthanever 8th Dec 17, 7:23 PM
    • 403 Posts
    • 2,181 Thanks
    Betterthanever
    Oh and another £5 from SB requested today.....happy Friday!!

    Current balance £114,744.64. Offset £2,151.73. £112,592.91 needed to be mortgage neutral!
    End date - 03/29 but aiming for 10/22

    Former DFW Nerd 230. Determined to be MF. Bring it on!
    • Betterthanever
    • By Betterthanever 10th Dec 17, 12:05 PM
    • 403 Posts
    • 2,181 Thanks
    Betterthanever
    And another £5 requested today. Nice and steady does it!

    So yesterday we signed the formal reservation papers for the new house, we're buying off plan so there was a lot of paperwork to go through but not a lot to actually see. Very exciting, though, and we are looking forward to seeing it all take shape and come together!

    So tired today - so still in PJs watching the skiing on the TV while snow falls outside the window here - its the closest I will get to having my fix this winter, so it will have to do! Crazy neighbour opposite has just set off for a run, wearing a pair of shorts.....absolutely mad!

    My mission to prove a point re free money has been working I think - DH now saves his receipts for scanning into shoppix etc, and no longer complains about "those stupid videos" on swagbucks! Instead he has signed up to Circle, has shopmium on his phone, and looks forward to adding more to my Amazon wishlist on the basis that we can save vouchers towards them. We all seccumb in the end

    Current balance £114,744.64. Offset £2,151.73. £112,592.91 needed to be mortgage neutral!
    End date - 03/29 but aiming for 10/22

    Former DFW Nerd 230. Determined to be MF. Bring it on!
    • Karmacat
    • By Karmacat 10th Dec 17, 1:52 PM
    • 28,180 Posts
    • 155,267 Thanks
    Karmacat
    That's brilliant, on all counts! I need to check some things with you, but my head is mush right now, so I won't blather. But I definitely love playing videos on my phone
    Retired August 2016
    • skint_spice
    • By skint_spice 10th Dec 17, 2:05 PM
    • 11,202 Posts
    • 23,485 Thanks
    skint_spice
    Goodness, I now have two new (to me) diaries to catch up with! Good luck with MFWness x
    mmm...still thinking, planning and plotting for aims in 2017
    • Betterthanever
    • By Betterthanever 10th Dec 17, 2:55 PM
    • 403 Posts
    • 2,181 Thanks
    Betterthanever
    Hi there Skinty! Good to see you!!

    Current balance £114,744.64. Offset £2,151.73. £112,592.91 needed to be mortgage neutral!
    End date - 03/29 but aiming for 10/22

    Former DFW Nerd 230. Determined to be MF. Bring it on!
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