Moving House, Renovations & OPs

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  • greent
    greent Posts: 10,671 Forumite
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    Glad the survey proved all was ok :)
    x
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NIL
    Net sales 2024: £20
  • Elephantchunks
    Elephantchunks Posts: 211 Forumite
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    Thank you all so much for your yays! This forum really is fantastic. I thoroughly enjoy joining people in their journeys. It's such a huge motivator to see people commenting or/& thanking. Sometimes RL humans don't understand my money ways. There was shock and confusion today in the office when I told them I just bought my first DVD ever. What never? Yah. We haven't received it yet but its a DVD of the insides of the septic tank and pipes :rotfl: I won't even watch the only DVD I ever bought.
    "Why not now, OK so when and how," ElephantChunks.
    Electrics re-wire savings Oct 18 - March 2020 WE GOT ELECTRIC!
     Heating Loan Sept 0/£5000
    SPC14 #65
  • wishingthemortgaheaway
    wishingthemortgaheaway Posts: 2,536 Forumite
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    That sounds like an oscar winner Elephant.
    Outstanding mortgage: £23,181 (December 19)
    MFW 2020 Challenge Member #10 0/£2318
  • Elephantchunks
    Elephantchunks Posts: 211 Forumite
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    EXCITED!!!!!! Staying in tonight, boxing up, tidying and doing budgets on a Friday night, who am I? Ha!

    This weeks spends:
    £188.83/£200 - Groceries - £21.55
    £57.86/£100 - Petrol
    £93.62/£110 - Cigs
    £94.55/£90 - My fun - £15.10 booze and takeaway
    £97.89/£90 - DH fun - £26 booze and takeaway
    £112/£195- Driving lessons
    £54 Extra saved - ebsy £29 teramundi £15

    Ok so we've over spent on fun by eating takeaway but when we move to the countryside this won't be possible so we're enjoying it while we can. Plus, driving lessons will be less so that's where this can offset. (Excuses, excuses).

    Happy weekend x
    "Why not now, OK so when and how," ElephantChunks.
    Electrics re-wire savings Oct 18 - March 2020 WE GOT ELECTRIC!
     Heating Loan Sept 0/£5000
    SPC14 #65
  • Jessy103
    Jessy103 Posts: 1,824 Forumite
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    Takeaways are so hard not to have because they taste so damn good!! Why can't a salad taste as nice as a pizza?! Lol! x
    Mortgage Balance as of Jan 24 £36,500 Starting Mortgage Balance (June 2019) £72,000. 2024 Overpayment Challenge: Jan £558.40, Feb £588.11, Mar £497.32
  • Elephantchunks
    Elephantchunks Posts: 211 Forumite
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    It's curry and chinese food for me Jessy. I must learn to make these well. DH loves pizza but takeaway pizza is so expensive for what is (I agree, it does taste damn good though). I make cheat pizza made on garlic bread with loads of fried veg, it's super quick so we don't often buy takeaway pizza.

    Lots of full boxes all around me today. :)
    "Why not now, OK so when and how," ElephantChunks.
    Electrics re-wire savings Oct 18 - March 2020 WE GOT ELECTRIC!
     Heating Loan Sept 0/£5000
    SPC14 #65
  • Elephantchunks
    Elephantchunks Posts: 211 Forumite
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    edited 25 July 2017 at 9:10PM
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    Hi, I've not posted here for a few days. I've mostly been looking at pretty house decor pictures on the web and crunching the numbers for the new house budget.

    We are seriously considering getting a 10yr fix when we can ditch our fix. I worked out that mortgage rates would only have to go up by 1.7% by the end of year 5 for us to lose money by choosing the 5 year (+overpaying as if it was the 10yr) instead of 10yr. The 5yr is £100 more than we're paying now and the 10yr would be £200 more. But, if we did choose the 5yr we would have £9000 extra in equity and have saved £9000 in interest. Those figures are very tempting for me. Hope my figures were accurate, I believe they were. Decisions decisions but where there is a will there is a way. (Going to post this elsewhere in a mo to see if anyone can check my calculations).

    Chatting to Jessy on her thread has reminded me how much I miss my craft room since packing it away to show as a bedroom. My new craft room will be in the back of the sitting room so I can still be with DH when I want to play. And I'll have a workshop to start playing with wood. These were on our lengthy wants list when we were looking for a house so I can't wait to get stuck in making some extra ££ from crafting to OP the hefty mortgage. That's the plan anyway.
    "Why not now, OK so when and how," ElephantChunks.
    Electrics re-wire savings Oct 18 - March 2020 WE GOT ELECTRIC!
     Heating Loan Sept 0/£5000
    SPC14 #65
  • Elephantchunks
    Elephantchunks Posts: 211 Forumite
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    More number crunching - above is wrong if you include the overpayment. Confuzzled!
    "Why not now, OK so when and how," ElephantChunks.
    Electrics re-wire savings Oct 18 - March 2020 WE GOT ELECTRIC!
     Heating Loan Sept 0/£5000
    SPC14 #65
  • wishingthemortgaheaway
    wishingthemortgaheaway Posts: 2,536 Forumite
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    I know the rates are higher the longer you fix for, but an extra £100 a month for fixing for extra blocks of 5 years seems a lot, when the whole of those £100 is interest.
    Outstanding mortgage: £23,181 (December 19)
    MFW 2020 Challenge Member #10 0/£2318
  • Elephantchunks
    Elephantchunks Posts: 211 Forumite
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    Wishing, you are absolutely right. I guess I was thinking of the security of knowing what we will be paying for the next 10 years. If we overpay by £100 on the 5yr though -rates would actually have to go to 10% the next 5yrs to end at the same equity. So now I'm thinking to go with the 5yrs, OP by £100 (at least) and save what we can if rates do go up. I want to be attacking this mortgage not giving money away to the banks.
    "Why not now, OK so when and how," ElephantChunks.
    Electrics re-wire savings Oct 18 - March 2020 WE GOT ELECTRIC!
     Heating Loan Sept 0/£5000
    SPC14 #65
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