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  • FIRST POST
    • Kittenkirst
    • By Kittenkirst 5th Feb 16, 10:35 AM
    • 1,762Posts
    • 9,451Thanks
    Kittenkirst
    Getting a mortgage and then becoming mortgage-free!
    • #1
    • 5th Feb 16, 10:35 AM
    Getting a mortgage and then becoming mortgage-free! 5th Feb 16 at 10:35 AM
    Hi all!
    So from my title you may have guessed I don't yet have a mortgage, however I am hoping that will all change within the next few weeks.
    I will then start on overpaying the mortgage and really penny pinching to try and reduce it down as much as possible!

    I'm hoping this is alright to start my diary in here? :-)

    The story so far, my lovely girlfriend and I have been discussing getting a place together for some time. We started looking at houses (al very small and far from her parents- which is a no-no, we want to be close to them to visit regularly). Last weekend we went to see a new build development and fell in love with a house- less than 2 miles from her parents, perfect size for the two of us and within our budget (from getting mortgage in principle information and confirming monthly payments were well within our budgets).

    Sooooo we took her parents round for their seal of approval, spoke with an agent we know through the family about pertinent questions to ask, did lots of number crunching and then placed a reservation.....

    ....so we've now got paperwork from solicitors re the conveyancing etc and paperwork from the mortgage advisors to sort out this weekend.
    We have re-jogged our budget to ensure we had the deposit in savings by end of Feb (we thought we'd have a few months before we found anywhere) so are ready to almost hand over £18500 :O

    I have agreed to move into her parents house and pay rent in mid March to prevent paying rent, bills and food (will save an extra £500 a month) so we should be in a good position for when the house is ready September/October time!

    Does anyone have any hints or tips so far?

    Our brokers/solicitors are ones recommended by family who've used them and really recommend them and we've sense checked the rates the solicitors charge to ensure its competitive.
    2018 MFW #20 - OP £669.60/ £3000 22% Jan: £417.42 Feb: £252.18

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    Overpayments 2016 £255.50 2017 £2600.40
Page 61
    • Kittenkirst
    • By Kittenkirst 15th Feb 18, 9:01 PM
    • 1,762 Posts
    • 9,451 Thanks
    Kittenkirst
    Payday shuffle now completed so overpayment for February is now sat at £252.18 which is pretty good I think.

    The paperwork has been sent back to Clydesdale and hopefully we should see the switch ASAP.

    Been to visit my brother today and helped him have a deep clean. His flat has got pretty lucky over the last year or so, so we had a spring clean day to try and help him get it a bit nicer to live in. Hes sown the last week cleaning up in the afternoons and you could see the difference. We spent 5.5hours giving everything a good clean and its definitely starting to look better, plus hes motivated to continue getting things more shipshaped.

    Long old drive back home but feeling good at having helped and I had a lovely day chattering away with my big bro :

    Off to yoga in the morning for 7am, and going to help our friend get her house prepped for her hubbies 40th tomorrow after that. Hopefully be a minimal spend day.
    Last edited by Kittenkirst; 15-02-2018 at 9:10 PM.
    2018 MFW #20 - OP £669.60/ £3000 22% Jan: £417.42 Feb: £252.18

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    Overpayments 2016 £255.50 2017 £2600.40
    • Kittenkirst
    • By Kittenkirst 16th Feb 18, 4:16 AM
    • 1,762 Posts
    • 9,451 Thanks
    Kittenkirst
    Forgot to mention- pancake day didnt happen for us- long old day at work on Tuesday and a braces appointment meant I left at 5.30am and got home at 8pm so was pretty wiped out.

    Will make some scrummy pancakes on Sunday fingers crossed!

    Valentines Day was also a long work day- both in the office for 7.20am and left at 7.30pm (!!!) so we were indecisive about dinner- ended up wandering around local m&s debating a naughty dominos pizza but in the end decided to buy a posh pizza, some loaded spicy fries and apple tarts for desserts. With a nice 50p YS whole meal loaf we ended up spending £9 but had a very decadent supper together.

    Also had a splurge at Sainsburys with their 25% off clothes- I got another pair of matching pants to the bra bought on sale a few weeks back (reduced to £2.5 with a further 25% off!), a red rain mac to try on (my old one is 3/4 sleeves which is no good really- will eBay it as it was a next sale buy but its lasted a good 5 years with a fair few wears). Hopefully I can wear this new one in spring showers though as it has long sleeves a white knitted top to wear for work meetings with my suit and a floral tee. Need to try it all on and assess whether to keep or return. £44 all in isnt too bad though.

    Cant sleep at the moment- Hugo unceremoniously woke me by sitting on my chest at 3am. hoping some light reading will get me dozing back off....fingers crossed!
    Last edited by Kittenkirst; 16-02-2018 at 4:53 AM.
    2018 MFW #20 - OP £669.60/ £3000 22% Jan: £417.42 Feb: £252.18

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    Overpayments 2016 £255.50 2017 £2600.40
    • Kittenkirst
    • By Kittenkirst 16th Feb 18, 4:41 AM
    • 1,762 Posts
    • 9,451 Thanks
    Kittenkirst
    New Mortgage Deal! :j :j
    Thought Id capture the details in one post for ease up to 28/2/18 (not including any small Tilly tidies we may pay in rest of month)

    Initial mortgage deal: £170,995 30/9/16
    House value £189,995 LTV 90%

    25 years Clydesdale mortgage with initial rate 2.99% for 17 months
    Monthly payments £810.80
    Monthly interest: started at £14.42/day. At £13.26/day 02/18

    Total payments: £13,654
    Total interest paid: £6685
    Total overpayments: £3525

    Total capital repaid: £10,488
    House value: £202,000
    Mortgage at 28/2/18: £160,508 LTV: 79.5%

    New mortgage deal- 3 year fixed rate 1.64% (!!!!).
    Monthly payment:£690.91
    Monthly interest (estimated): £7.54/ day

    :


    Overpayment plans for remainder of 2018- just plans at the minute as not sure what other expenses will crop up but I like to have a forecast to play with as the year progresses

    My regular saver matures in April so have earmarked a portion to OP (some Will be going into normal savings, some to LISA and rest on mortgage) but will split it over a few months as Clydesdale charge ERCs on lump sum; but wont tell me what this means in £££!

    March- £89.80 if mortgage deal doesnt switch over immediately- round up monthly £810 payment to £900

    April- £309.09 to round monthly payment to £1k.
    Also £250 from my yearly bonus.
    £200 from my regular saver

    May- £309.09, £200 from regular saver
    June- £309.09, £150 from regular saver
    July- £309.09
    August- £109.09- Australia trip in September so will make nominal OP
    Sept- no OP as travelling Australia!
    Oct- £109.09 as recovering from Oz trip!
    Nov- £309.09
    Dec- £309.09 (subject to change dependent on Chrimbo)

    Grand plans at the minute
    Last edited by Kittenkirst; 16-02-2018 at 4:52 AM.
    2018 MFW #20 - OP £669.60/ £3000 22% Jan: £417.42 Feb: £252.18

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    Overpayments 2016 £255.50 2017 £2600.40
    • michelle09
    • By michelle09 18th Feb 18, 8:47 AM
    • 640 Posts
    • 3,314 Thanks
    michelle09
    Aww... maybe you could move pancake day to today? Every year I say I'm going to do pancakes more often and it doesn't happen.

    You have some grand plans. Hope they go smoothly!
    • newgirly
    • By newgirly 18th Feb 18, 8:58 AM
    • 6,113 Posts
    • 42,225 Thanks
    newgirly
    Great ops KK well done
    MFW 21
    Target for 2018 £40k/£3769.26 paid so far

    Mortgage £43,856 4yrs 4 mths left. Total owed £58,228.74 planning to clear in 15 months
    Weight loss target 2018- 21lb /5 lb lost
    • Kittenkirst
    • By Kittenkirst 19th Feb 18, 5:20 AM
    • 1,762 Posts
    • 9,451 Thanks
    Kittenkirst
    Thanks for dropping in and commenting Michelle & New girly!

    I just wrote a huge old post to then go & lose it- maybe I should be more succinct

    Weekend round-up:
    - 2 tough gym sessions including a hiit treadmill session & a good old weights session targeting my arms/chest & back
    - 2 hot yoga sessions: both had a wonderful impact on my mood
    - a close friends 40th birthday party- we spent the day helping set up which was lovely to be involved
    - an indulgent meal out at a Rhode Island inspired burger restaurant with friends.

    Still no pancakes yet though!

    Helping brother clean went well- spent a good 5.5 hours cleaning and chattering. He still has loads to do as is quite a hoarder and he hasnt cleaned in honesty in a long long time. However it was well timed as his gf was finally discharged on Friday they both seem in a better place at the moment but its going to take some time really for them to be on an even keel again I think.

    Plans for today- swimming at 9am: we are both not too sure if we can swim or at least swim well so we are going when it is quiet to find out! We wanted plenty of time before Australia so we can take lessons if required. I also want us to try kayaking at a local centre and think feeling more confident with swimming will help the kayaking experience go smoother!

    Then off to town to renew both out passports (how much?!?) then going to have a nice lunch at Zizzis using our vouchers!

    Then its gym & yoga again tonight.

    89p OP Tilly tidy on Saturday completed. Free postcode lottery checked and size wheel completed. Need to spend some time on prolific and matched betting at some point to generate some funds. Off to check YouGov now actually!
    Last edited by Kittenkirst; 19-02-2018 at 5:22 AM. Reason: Punctuation issues again
    2018 MFW #20 - OP £669.60/ £3000 22% Jan: £417.42 Feb: £252.18

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    Overpayments 2016 £255.50 2017 £2600.40
    • Kittenkirst
    • By Kittenkirst 19th Feb 18, 8:23 PM
    • 1,762 Posts
    • 9,451 Thanks
    Kittenkirst
    Today has pretty much gone to plan and had a lovely chilled day- we found out I can swim, a bit, but not very confident and gf cant really swim so will need lessons. The pool we went to (20 mins walk from home) has 55 people on the adult waiting list for swimming lessons, and the only adult classes they do are midweek daytime....doesnt work with working full time mon-fri 8-5 really!

    We went to town, took passport pics and sent them off using post office service so £172 down including picture costs. Then onto Zizzis to use our vouchers- we shared a delicious skinny pizza and mushroom tortellini. Yum!

    Then used our John Lewis free coffee and cake vouchers for a frothy coffee and shared a cake. Had the other one to take away to give to gfs parents as they like a nice cake

    We then dropped off a friends birthday present and called in at the swimming pool near there- they do a beginners lesson on a Friday evening after 6pm so she is signing up for that. I have said I will go too but will just swim in the pool and practice- thinking if I keep practicing lengths I should get my swim fitness up hopefully

    IVe had quite a bit of pain this afternoon my calves- not sure if its from yesterdays elliptical training as I did it on a steep incline for half hour or if its from swimming however Ive cancelled my gym/yoga plans tonight to let them rest. I tore my calf muscle about five years back and was on crutches so I am a bit nervy about any twinges in my calves....tempted to go and have a bath (which NEVER happens )

    All in all a good day with a few things ticked off the Australian prep list- passports in progress, 1st swim sorted, photos for international driving license sorted (cant order until July/August time), John Lewis cake and coffee freebies used up before they expired again and had a good day just spending time with the gf!
    Last edited by Kittenkirst; 20-02-2018 at 9:46 AM.
    2018 MFW #20 - OP £669.60/ £3000 22% Jan: £417.42 Feb: £252.18

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    Overpayments 2016 £255.50 2017 £2600.40
    • Kittenkirst
    • By Kittenkirst 20th Feb 18, 9:53 AM
    • 1,762 Posts
    • 9,451 Thanks
    Kittenkirst
    Morning folks!
    Got up late this morning as the last of my day off- back to the office tomorrow. Boo hiss.

    However I did have that lovely bath last night using an ancient bathbomb (from lush- possibly 4 years old?) as I have major DOMs in my calf muscles- struggling to walk again today so no gym/yoga. I will make sure I have a good walk and do lots of stretches prior to silver class this night.

    I felt quite frugal yesterday- Ive been on a mission to use up all the old foundations Ive had hanging around. I only use no7 as found that one good for my skin when younger but had around 6 half empty bottles about three years ago. Considering I only wear make up to go out out that was a lot. Ive got down to scraping the last bits out of the tub and yesterday it was nice and quiet in town so I could browse in boots in peace. I did the boots colour match and selected a nice new foundation with light coverage but spf 15 and they had the offer to get a free set if you bought two items.
    As I have lost my favourite Dior sheer pink lippie I selected a nice pink lip crayon and then the lady advised the gift set included a voucher for a free lipstick too- so I got a lovely pinky hue for that too.
    I spent £24 and got the foundation, lip crayon, lipstick, a small eyeshadow (in a colour I wear), a foundation sponge thingy and a cheek highlighter.

    IVe thrown out the old foundation and had a little tidy of my makeup and got rid of some old stuff hanging around. With makeup I find it hard to throw it out as I think it has cost a fair bit of £££ but IVe decided to stop being silly. If it is a)too old or b)not ever worn its been put into a pile to get rid of!

    Today is a bit of a lazy morning with a cuppa and some australia travel brochures to really start forming up budgets etc! YAY!
    Last edited by Kittenkirst; 20-02-2018 at 10:09 AM. Reason: Punctuation errors again- bug on system
    2018 MFW #20 - OP £669.60/ £3000 22% Jan: £417.42 Feb: £252.18

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    Overpayments 2016 £255.50 2017 £2600.40
    • Kittenkirst
    • By Kittenkirst 20th Feb 18, 10:11 AM
    • 1,762 Posts
    • 9,451 Thanks
    Kittenkirst
    In Mortgage news- received an email from Clydesdale querying when want new rate to apply from. Replied yesterday confirming ASAP and have called today to make sure they got the email.

    The gent has advised that it should apply from 1st March- so the interest rate will drop from then. Feels like such a great reduction in interest. Annoyingly the arrangement fee is £499 so that wipes out the first months savings but in the long run we will be much better off.

    so chuffed that it will really start coming down now- its giving me more motivation to hammer down the mortgage as soon as we can!
    2018 MFW #20 - OP £669.60/ £3000 22% Jan: £417.42 Feb: £252.18

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    Overpayments 2016 £255.50 2017 £2600.40
    • penny*pincher
    • By penny*pincher 20th Feb 18, 10:18 AM
    • 46 Posts
    • 147 Thanks
    penny*pincher
    Heyyy!
    Hi KK!

    I hope you are keeping well. Dropping in to catch up.... lots to read since September! I just read your past week and see you have a wonderful Australia trip to look forward to this year - I cannot wait to hear about those adventures!

    Well done on the new mortgage deal and great to see how your overpayments are going, brilliant!

    Lets hope for some low spend days for both of us for the next few months

    P*P
    H2B ISA - £2,623.96
    SAVINGS - £19,507.45
    • Watty1
    • By Watty1 20th Feb 18, 11:22 AM
    • 2,971 Posts
    • 21,117 Thanks
    Watty1
    We had a mortgage with Clydesdale for a while. The service was fantastic whenever had a question, wanted to overpay etc.
    Mortgage at start of diary Sept 2013: £132,995 Aug 2015 £0
    Overpaid next mortgage. £79,491 down to £27152
    Changing focus for now
    • Kittenkirst
    • By Kittenkirst 20th Feb 18, 10:27 PM
    • 1,762 Posts
    • 9,451 Thanks
    Kittenkirst
    Completely agree Watty- they are pretty great. My only wish is that I could do online banking and check the mortgage balance but I!!!8217;m just being greedy!

    Hi Pennypincher- fingers crossed for NSDs- I!!!8217;m hoping tomorrow, Thursday & Friday will be nsds as we got some groceries today £9.10 so it!!!8217;s been an expensive week!
    2018 MFW #20 - OP £669.60/ £3000 22% Jan: £417.42 Feb: £252.18

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    Overpayments 2016 £255.50 2017 £2600.40
    • A Frayed Knot
    • By A Frayed Knot 20th Feb 18, 11:16 PM
    • 2,261 Posts
    • 10,155 Thanks
    A Frayed Knot
    I remember when I re mortgaged and my interest rate halved such a good feeling.

    I took the amount I was saving on interest and a small pay rise and upped my monthly payments by that amount which then reduced my years (taking into account, all the other o/p's i had made) by 6 years.

    Well done on getting a great deal and rate.
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    Target 24 months 1/24
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/£4000, 2015/£6294.69, 2016/£3186.80, 2017 £4068.97

    • Kittenkirst
    • By Kittenkirst 21st Feb 18, 8:26 PM
    • 1,762 Posts
    • 9,451 Thanks
    Kittenkirst
    Mortgage rate halving is amazing! We are going to match our current payments as much as possible so the saving means we are overpaying even more!

    Had a rubbish day at work today, and then got to the gym started changing and realised I had forgotten socks. So I went to yoga for an earlier yoga session than normal.

    Now home, quorn Thai green curry scoffed but now i am all munchy- I think I will be going over cals on MyFitnessPal somehow today.

    Grump grump grump!

    Positives- Kittens are all snuggled on the sofa looking adorable and Im working from home tomorrow and hoping for some time to work through stuff logically and a bit more calmly!
    Last edited by Kittenkirst; 21-02-2018 at 9:25 PM. Reason: Punctuation issues again
    2018 MFW #20 - OP £669.60/ £3000 22% Jan: £417.42 Feb: £252.18

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    Overpayments 2016 £255.50 2017 £2600.40
    • CathT
    • By CathT 21st Feb 18, 8:57 PM
    • 5,425 Posts
    • 37,976 Thanks
    CathT
    Your new mortgage rate is going to make such a big difference, that balance will reduce so much quicker now. A day working from home sounds well needed.
    Feb 2018 -
    part 1 - £78,989
    part 2 - £45,748
    Total - £124,737
    • Kittenkirst
    • By Kittenkirst 22nd Feb 18, 8:12 AM
    • 1,762 Posts
    • 9,451 Thanks
    Kittenkirst
    A nice sleep has meant happiness is restored. Also, the first time since I can remember when Hugo & Oscar haven!!!8217;t woken me at 2/3/4/5am for cuddles/attention! Hugo left it until 6am for him to come in and snuggle down on my chest so Im feeling a lot brighter this morning.

    Time for a nice coffee and then get logged on to start work for the day.
    Last edited by Kittenkirst; Yesterday at 1:00 PM.
    2018 MFW #20 - OP £669.60/ £3000 22% Jan: £417.42 Feb: £252.18

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    Overpayments 2016 £255.50 2017 £2600.40
    • ch4rly2002
    • By ch4rly2002 22nd Feb 18, 9:37 AM
    • 345 Posts
    • 1,433 Thanks
    ch4rly2002
    Wonderful! a good sleep makes such a difference
    Savings: Aim £13.5k. Dec 2016 £1,700 / Feb 2018 £12,350
    Mortgage: Dec 2014 -£216,000 / Feb 2018 -£192,200
    BTL Mortgage: Dec 2014 -£136,000/ Feb 2018 -£123,400
    CC 0%: Nov 2016 -£4,500 / Feb 2018 -£3,368.27
    Loan to In-Laws: Sep 2010 -£48,185.82 / Feb 2018 -£30,315.49
    Student Loan: March 2011 -£18,275.04 / April 2017 -£14,003.85
    • try harder
    • By try harder 22nd Feb 18, 9:50 AM
    • 672 Posts
    • 2,485 Thanks
    try harder
    Wow how well are you doing ,really well done great overpayments and now the number will come down even faster ,i am still stuck on 3.99% and my bank wont let me remortgage as they say we wont pass the affordability checks which is true we wont.Keep at it you will be there in no time
    • Kittenkirst
    • By Kittenkirst 22nd Feb 18, 1:12 PM
    • 1,762 Posts
    • 9,451 Thanks
    Kittenkirst
    Wow how well are you doing ,really well done great overpayments and now the number will come down even faster ,i am still stuck on 3.99% and my bank wont let me remortgage as they say we wont pass the affordability checks which is true we wont.Keep at it you will be there in no time
    Originally posted by try harder
    That sounds so unfair TryHarder- leaving you on a higher rate as you can’t pass the affordability to get a lower rate (where you would pay less!).
    2018 MFW #20 - OP £669.60/ £3000 22% Jan: £417.42 Feb: £252.18

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    Overpayments 2016 £255.50 2017 £2600.40
    • try harder
    • By try harder 22nd Feb 18, 1:24 PM
    • 672 Posts
    • 2,485 Thanks
    try harder
    I know ,it makes no sense does it ? Then they send us letters saying if you are struggling to pay your mortgage call us and we will help you ,its crazy isnt it ,luckily we can afford it at the moment but if interest rates do increase dramatically then we will be in big trouble.
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