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  • FIRST POST
    • A Frayed Knot
    • By A Frayed Knot 8th Jun 15, 11:34 PM
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    A Frayed Knot
    Was Mortgage Free until 52!!!
    • #1
    • 8th Jun 15, 11:34 PM
    Was Mortgage Free until 52!!! 8th Jun 15 at 11:34 PM
    I was a lurker, but inspired by this thread to start my own diary and although my figures are positively small fry to some - its still my mortgage.

    A bit about me, took the plunge and bought a house age 50 plus by myself, everyone asked "Are you mad?" But thought - I can do this.

    Bought at auction, so got a bit of a bargain (the only way I could afford a mortgage) and had what I would call (in my terms) a nice deposit. Took out an 80% mortgage, and lenders would only give me an 18 year term, 2 years fixed at 4.5%, so in my eyes I have already knocked 7 years off my mortgage - how's that for positive thinking?

    I'm now 3 years down the line and have already made the classic mistake, did not renew my fixed term after the 2 years (and still haven't) as it reverted to 3.99% which was lower than I was paying and on making my first large overpayment, they reduced my monthly payments Little did I know what I know now. So its time to get my mortgage in order.

    I have about a years mortgage savings - and about 3 years mortgage payments out on loan at the moment.

    I pay a minimal 45.00 into an isa every month, but was thinking of adding this to my monthly mortgage payments when I remortgage thus reducing the years even further. What do you think?

    I work full time and overtime is available for the moment although I never accept, as I go in early and stay late - could class that as overtime,

    As you can tell, I'm a bit obsessed with overpayments, but well - you can see my point - at my age, want to be "mortgage free" asap.

    My Motivation Madness;
    I have a simple method to keep me motivated, only thing is to explain I make it sound complicated and only works if you have a sub account as well, but you could adjust to suit yourself.
    • "Always have 0.00 at the end of your mortgage"
    • This way the least/most you will pay is 9p or 9.99
    • On flush days you could go for 00.00 at the end or even 000.00
    I know, I know, I need to get out more Good Luck whatever you decide.
    Last edited by A Frayed Knot; 20-02-2017 at 12:01 PM.
Page 2
    • bexster1975
    • By bexster1975 16th Jun 15, 6:38 PM
    • 1,063 Posts
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    bexster1975
    Hi

    Yes I have and the last time I used Royal Mail it cost £8.50 SECOND CLASS to send a single duvet set which cost £10 new!!

    Never again!

    Again, if you are worried about expensive stuff, get a price for recorded delivery and charge the customer.

    Go for it, you don't know till you try. It can be weird havi g people come to your place, but you could always have someone come over for when they are due to collect if you are worried at all.

    Hope the selling goes well

    Bexster
    Last edited by bexster1975; 17-06-2015 at 9:40 AM.
    • A Frayed Knot
    • By A Frayed Knot 17th Jun 15, 12:06 AM
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    A Frayed Knot
    Now have 8 items on ebay, lets see how this goes, opted mostly for BIN with free postage, but it difficult to judge a price. Wish I had the courage to start all items at 99p, would be fun watching the bids flow in (I wish), maybe I will try this next time with the items I would have previously donated to charity shop, that way, no loss.
    • A Frayed Knot
    • By A Frayed Knot 17th Jun 15, 10:06 PM
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    A Frayed Knot
    Just back after yet another birthday meeting/meal a few drinks and a large piece of birthday cake.

    Broke a 20.00 note today, got my change and stuffed it into my purse. As I was sorting it later I found I had been given one of the "new" plastic 5.00 notes - just my luck, had I known, I would have been taken better care of it. I'm sure I read somewhere they were worth more than face value.

    A few watchers on my items but no bids or sales, yet.


    Oh, and let me get my calculator, o/t available, tons of it - now, how much would I need to work to make a good o/p on mortgage.
    • A Frayed Knot
    • By A Frayed Knot 28th Jun 15, 12:45 PM
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    A Frayed Knot
    Well, pay day came and pay day out came, but got a nice surprize as I had done a little o/t but mounted up to a fair bit, well for me anyway.

    Went message shopping, must focus more as I really don't know what I got for my money. £60.00 and didn't really get much food and I still have to do my freezer shopping. (!)


    I notice some posters are stating they try to work to a half mortgage, half the rest - bi;lls, shopping, saving, etc,etc. My mortgage is only about a quarter of my salary, so no wonder I can overpay, must have a good think about how much I will be upping the payments when I go for my new deal.


    Just cleaned my kitchen window, put out a washing, done a bit of weeding and had a lovely mini ice lolly, and now see the rain has started - to be continued .......
    • bexster1975
    • By bexster1975 28th Jun 15, 4:02 PM
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    bexster1975
    I agree about percentage of take home pay most people spend on mortgage. I think mine was about 40% when I started. Terrifying to think of half of pay going to mortgage for 20-30 years

    I'm very lucky too as a little less than 10% of my take home pay is officially mortgage payments not including overpaying/offsetting.

    I guess with house prices so high and wages not having kept up for the most part, 50% of income on mortgages must be commonplace for people.

    Bexster
    • Alchemilla
    • By Alchemilla 28th Jun 15, 6:00 PM
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    Alchemilla
    Just a thought about faceache selling, you could always meet somewhere if you don't want them at your door?

    Ebay fees are monstrous.
    Turns out I wasn't allowed to link to my blog.

    Please PM me if you would like to read it.
    • A Frayed Knot
    • By A Frayed Knot 29th Jun 15, 12:08 AM
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    A Frayed Knot
    Managed to collect washing before it got too wet, then it was off to brothers for sunday dinner, I took the strawberries, yummy.

    I had the option of paying slightly less than 50% of salary at start of my first 2 year fixed term but as I had a lot of work to do, decided against it.


    Bexter - 10% sounds good to me, but surely with my main aim to pay off asap, that would get me nowhere, although i'm overpaying I take more delight in seeing the years drop off.


    Alchemilla - thanks for that thought, could work out, will give it some thought, especially for the larger items.
    Has anyone worked out if you sell an item at 99p plus exact postage how much you actually get after all the fees?
    • A Frayed Knot
    • By A Frayed Knot 30th Jun 15, 7:50 PM
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    A Frayed Knot
    Feeling glum, nothing seems to be running smooth at work atm. Very busy and chaotic with far too many people to please. Hope tomorrow will be better, and must look into taking some time off.

    Lovely evening, so going to coat the bricks round the house with a sealant, then paint them, but that will be another night, should look tidy once finished.


    Oh, and ebay didn't do very well, so items off to CShop. Will try again with a few different items. Everybody loves a trier.
    • bexster1975
    • By bexster1975 30th Jun 15, 7:54 PM
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    bexster1975
    Hello

    I think we were talking at crossed purposes. I was just saying my actual mortgage payment is a little less than 10% of my current salary. I agree as the only payment it wouldn't get you far! Up until very recently I paid about 30% of my wage as overpayment on mortgage, now offsetting this instead for flexibility

    Sorry work is a bit pants. I agree you probably need a couple of days off. Good luck with the painting.
    Bexster
    • A Frayed Knot
    • By A Frayed Knot 30th Jun 15, 8:14 PM
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    A Frayed Knot
    Oh, that explains it - what was I thinking, at least that made me laugh!! once I had thought about it.

    Hope your business plans are still on track.
    • A Frayed Knot
    • By A Frayed Knot 5th Jul 15, 12:07 PM
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    A Frayed Knot
    Friday was a better calmer day at work, had a quick vip visit which went well.

    Was just mulling over the mortgage calculations, and have just noticed a change in rates, so my options are;2 years fixed at 1.89% or 5 years fixed at 2.54%, both no fees,
    very tempted by the 5 years, scares me a little as I always like to have choice and this way would have no choice for 5 years
    • A Frayed Knot
    • By A Frayed Knot 7th Jul 15, 9:00 PM
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    A Frayed Knot
    Done a bit of shopping after work today, fruit, bread and some salad items came to another 20.00, got me wondering - how much does one person spend on food for a week/month. Would be interesting to find out - I do think I may be a little fussy when it comes to food. Although I do buy at A1di, I also shop at M&s.
    • bexster1975
    • By bexster1975 7th Jul 15, 9:03 PM
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    bexster1975
    I'm a lid! And waitros3 fan myself!

    Spend about £80 - £100 a month for me.

    Bexster
    • A Frayed Knot
    • By A Frayed Knot 7th Jul 15, 9:24 PM
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    A Frayed Knot
    Emm, I am at £80.00 total and its only the 7th of the month, althought this includes washing tablets, conditioner, cakes, biscuits, juice etc, etc.

    Food spending diary seems a good idea to me - will start with the receipt I got today.
    Last edited by A Frayed Knot; 07-07-2015 at 9:29 PM.
    • bexster1975
    • By bexster1975 7th Jul 15, 9:37 PM
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    bexster1975
    Mine doesn't routinely include cleaning stuff as I buy in bulk on offer. Old style boards will help you with getting grocery spends down. Shopping at Lidl saved me about £50 a month. Depends what you eat. I don't eat much meat just chicken and fish really. I make my own bread and biscuits and cakes and use the freezer for anything possible

    £150 is an expensive month and would cover restocking washing, toiletry and cleaning stuff too.

    Bexster
    • A Frayed Knot
    • By A Frayed Knot 8th Jul 15, 10:58 PM
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    A Frayed Knot
    Obviously don't buy the cleaning, toilitries etc every week, but I too use Lidl's, and like you, don't eat much meat (except when I get an invite to my brothers) but mainly chicken and salmon - love salmon and so quick, I can have my meal ready in 5 mins when I am hungry and can't wait for something that takes ages to cook.

    I'm such a lazy so and so, never baked my own bread - you put me to shame, have been known to bake the "part baked" rolls you can buy from the supermarkets, but used to be (even if I say so myself) a really good baker - scones, cakes, tarts etc. Just recently took a notion for home made dumpling, so scoured the web and found a recipe for a microwave one - was good for a first attempt and with a few tweeks, will be fab. Next on my list is empire biscuits, yumm.

    Will have a look on the old boards you mention.
    • bexster1975
    • By bexster1975 9th Jul 15, 8:10 AM
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    bexster1975
    It depends on your lifestyle where baking, batch cooking etc fit in. My lifestyle has changed a great deal in the past year giving me time to do more baking, growing fruit and veg, shopping around got bargains.
    I have a breadmaker so can't take much credit. It was my Christmas present to myself this year as its loads quicker to set up than making by hand. It wasn't too extravagant, £50 on eBay and a Panasonic that everyone raves about ( about £150 new) only used once and collected locally so no postage.

    in my previous lifestyle I barely made time to cook a meal. That was part of the problem. Wouldn't swap back. It's different but better.

    Point s, don't give yourself a hard time. If you are doing the best you can and it works for you -great. I like those part baked rolls too by the way!

    Bexster
    • A Frayed Knot
    • By A Frayed Knot 12th Jul 15, 9:29 AM
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    A Frayed Knot
    Well the only trouble with batch baking is ... none would end up in the freezer!!! far too greedy and sweet toothed for that, not to mention generous as if any left would take into work to share out.

    Had a good think about how much I am spending on food, and if I bought lunch at canteen every day, then I would have spent £60.00 - a month just on lunches on workdays alone. So Bexter, you will have to tell me your secret, I used to think - well that's only £30.00 on food this week but then spend another £15.00 a week on lunches alone.


    Anyway 1st washing is finished, time to re-load and put 1st load out.


    Got up nice and early determined to get things into some kind of order; so jobs planned for today(lets see how many I get through)


    Curtain rail and new curtains to go up in L/R
    Change bed
    2 loads of washing (seems dry atm) so will chance putting it out
    Ironing
    Clean kitchen
    Put "stuff" in loft
    Hang curtain liners to main bedroom
    cut hedge
    put weedkiller down
    List items on ebay (will try again)


    that should do for now, although will probably add to list as I go along
    • bexster1975
    • By bexster1975 12th Jul 15, 10:20 AM
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    bexster1975
    Hi

    I don't know if I have a secret. We have a free canteen at work, but I'm not a fan for several reasons so only partake once or twice a week, but otherwise take my own food. I freeze food in portions ( chicken etc) and buy when on offer. I make my own pizza bases etc and can make a pizza that will last a couple of meals for about a pound. can always freeze slices if you don't want the same thing twice in a week. I make my own filled pasta and am a fan of lots of italian foods generally. I probably only eat meat or fish three or four times a week, with other days being meat free. I buy lots of frozen veg as it lasts longer and I don't feel tastes worse than fresh personally. Packet mixes of seasonings ( fajita mix etc.) I get from home bargains for a few pence a packet. I grow some fruit, veg, and salad in the summer and grow most of my own herbs. As I said before I bake my own bread, and can do different types in the machine, or just make the dough like the pizzas. I buy fresh fruit that I can't/ don't grow and try to waste very little. I don't know if that's odd, just how I do it.

    Have a good, if busy, day

    Bexster
    • A Frayed Knot
    • By A Frayed Knot 12th Jul 15, 11:46 AM
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    A Frayed Knot
    Wow you are busy. Trouble is i'm a very fussy eater, no pastas, sauces, spices, herbs and veg to mention just a few. I do buy pizzas (87p) from LiDl then add a tin of pineapple, also from LiDl, buy the pieces (much sweeter) not the slices - delicious, then add grated cheese.

    2nd washing on,
    1st washing out
    hedge cut
    weeding (wasn't on the list)
    weed killer down
    half of shed sanded (wasn't on the list)
    1st washing in - started raining

    break - cup of tea, slice of cake ... (always on my list)ready for next on list .......
    Last edited by A Frayed Knot; 12-07-2015 at 11:55 AM.
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