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  • FIRST POST
    • Skinnylatte
    • By Skinnylatte 1st Jan 16, 5:27 PM
    • 1,089Posts
    • 4,531Thanks
    Skinnylatte
    Skinny Latte's Mortgage Mugging
    • #1
    • 1st Jan 16, 5:27 PM
    Skinny Latte's Mortgage Mugging 1st Jan 16 at 5:27 PM
    Wow this is a bit scary, leaving my safe little diary on the debt free wannabe board and starting a brand new sparkly diary here. It's like getting rid of an old teddy

    So here I am a MFW, ready to take on my mortgage and use any means possible, mainly legal, to get rid of it as soon as possible. So a few facts

    My Mortgage
    £133,895
    17 years and 5 months left to pay
    Interest is 2.49% interest only.

    About me
    Fairly good job, single, 2 kids aged 17 &18 one is in full time education and the other about to start a full time job.
    I have a couple of additional forms of income, a youtube channel, a information 'adsense' website and a drop shipping website. These pay for my car and mobile phone at the moment, if I dedicated a bit more time and energy to them they might pay for a lot more...!

    I would be delighted to be rid of this mortgage in 10 years, when the world will become my lobster - lets see what's possible
    Last edited by Skinnylatte; 01-01-2016 at 8:07 PM.
    Mortgage @ 12/04/2015 £136121 £121,350 10.85% DI £9.13 £6.51
    Mortgage free day 06/03/33 06/11/32
    Emergency/Offset Account £
    1706/£6000 0%
    CC Balance £6100
    £3778 Paid 38%
    1st LBM 02/06/2013 £21595 Debt Free Day 27/03/2015


Page 3
    • Ali-OK
    • By Ali-OK 10th Jan 16, 10:16 PM
    • 4,044 Posts
    • 16,552 Thanks
    Ali-OK
    "You don't need another Skinny Latte" - I've heard that somewhere before

    Great news on the mortgage figure, it can feel like a long time with the % side of things, but as the interest amount gets less and you wrap that into the capital, you're increasing paid off amount and % too.

    A bit of spreadsheet fiddling and you'll be amazed how that extra £1 paid off here and there starts to make a noticeable difference on all fronts
    Back on the DFW Wagon:

    CC - £5,700 on 0% for 18 months
    Loan - £15,068 as at 2/1/17
    • SalsaDanca
    • By SalsaDanca 10th Jan 16, 11:51 PM
    • 391 Posts
    • 597 Thanks
    SalsaDanca
    Thank you for subscribing, and good luck in your journey, do you have a diary?
    It's funny as I was just thinking about some Salsa lessons today
    Originally posted by Skinnylatte
    I haven't started a diary yet. I'll get an opening post and an SOA written this week - it will be a good distraction from the packing I'm meant to be doing.

    Unfortunately, it's been a while since I did any Salsa lessons. For the last few years I've been commuting into London, which hasn't left much time for anything else. I'm hoping to start dancing again soon.
    • Skinnylatte
    • By Skinnylatte 12th Jan 16, 6:41 PM
    • 1,089 Posts
    • 4,531 Thanks
    Skinnylatte
    Aaargh, I think yesterday was 'Forget to take your lunch to work day' as I wasn't the only one and cost me £2.50, then at 10pm, both the kids said 'lets go to macd's for a hot chocolate, good driving practice and family time (2 sets of big brown pleading eyes)'. How could I say no??? £5 down on hotchocs and cheese bites. At least I remembered to keep the stickers for a free coffee.

    I had a WONDERFUL email from my highly talented accountant. She'd been back to 2008 with my tax returns and found I've over paid £500 in tax. She's claimed this for me and apparently a cheque is on its way

    Also, after being turned down a couple of years ago for a PPI claim, I'm having another go, so fingers crossed

    I've done a fair bit of work milage today, claim when it goes in will be around £60 plus some more tomorrow.

    DS has his driving theory attempt 2 tomorrow to fingers crossed for that too.

    I have a lovely friend in Istanbul, so was worried when I heard the news of the bombing today, she is fine though. I was at the blue mosque with her in November last year. Why can't people just live in peace, it does upset me.

    I seem to have comitted to a few weekends away which need organising and tickets buying soon, and I seem to have deleted my holiday savings account in my new year reorganisation need to have a rereorganisation, as I have no holiday money. If you've followed my last diary you'll know I like my frugal breaks...Airbnb, hostels and ryanair are my best friends. Last year a friend and I used airmiles to get to Turkey and stayed in a cave hotel for £8 a night (including breakfast )

    Ebay bids still at £20.02, uploaded a new video to youtube last night and sold 2 sets of those things I sell through my website, so a good day in all
    Mortgage @ 12/04/2015 £136121 £121,350 10.85% DI £9.13 £6.51
    Mortgage free day 06/03/33 06/11/32
    Emergency/Offset Account £
    1706/£6000 0%
    CC Balance £6100
    £3778 Paid 38%
    1st LBM 02/06/2013 £21595 Debt Free Day 27/03/2015


    • Luckyinlife
    • By Luckyinlife 12th Jan 16, 6:56 PM
    • 1,609 Posts
    • 6,036 Thanks
    Luckyinlife
    great tax refund and mcds cheese bites are the best yummy:]
    Mortgage--- £67700 March 15 £65221 April 15 £64983 July 15 £64780 sept 15 Remortgage £67295 oct 15 £66599 Nov 15 £65878.73 Dec 15 £64834 1st Jan 16 Feb 16 £64,511.89 March 16 £64,056.40 April 16 £62550 May 16 £62,396.20 Feb 17 £60.800
    Emergency fund 23k
    • hiddenshadow
    • By hiddenshadow 12th Jan 16, 6:57 PM
    • 2,242 Posts
    • 10,119 Thanks
    hiddenshadow
    Congrats on the tax refund!

    Fingers crossed on the theory test, DH needs to do his practical soon.
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,669 / Oct '17 £106,575
    2017 MFW #56: £13,093/£20,000 65% / MFiT-T4 #15: £52,924/£90,000 58%
    • Ali-OK
    • By Ali-OK 12th Jan 16, 8:06 PM
    • 4,044 Posts
    • 16,552 Thanks
    Ali-OK
    Nice bonus with the tax refund, will you put some aside in the new hols pot?

    Well done on eb@y, utube and the website sales.

    Good luck to DS for tomorow too.
    Back on the DFW Wagon:

    CC - £5,700 on 0% for 18 months
    Loan - £15,068 as at 2/1/17
    • safehouse
    • By safehouse 13th Jan 16, 9:33 PM
    • 704 Posts
    • 1,908 Thanks
    safehouse
    Oh I know the sad eye trick so well lol
    Great news with the tax refund
    • Skinnylatte
    • By Skinnylatte 13th Jan 16, 9:53 PM
    • 1,089 Posts
    • 4,531 Thanks
    Skinnylatte
    DS failed today by one mark too. The next test is rebooked but I said he had to pay for that himself, a bit of incentive.

    I had my mortgage interview today, they recomeneded a life time tracker, currently 1.95%, it has an offset facility, and no early redemption or overpayment fees. Even better the valuation and legals are all free The fee is £999
    They are going to send me out an application pack, I can not see one reason why I shouldn't go ahead.

    Ebay sales at £32 and t0pcashback £4.13, no where near my £310 target by the end of the month, although do you think I can count my tax rebate....
    Mortgage @ 12/04/2015 £136121 £121,350 10.85% DI £9.13 £6.51
    Mortgage free day 06/03/33 06/11/32
    Emergency/Offset Account £
    1706/£6000 0%
    CC Balance £6100
    £3778 Paid 38%
    1st LBM 02/06/2013 £21595 Debt Free Day 27/03/2015


    • Ali-OK
    • By Ali-OK 13th Jan 16, 10:03 PM
    • 4,044 Posts
    • 16,552 Thanks
    Ali-OK
    How frustrating for DS being one mark away

    Great news on the mortgage interview and a step closer to where you want to be

    Yes! Definitely count the tax rebate..it's unexpected money after all
    Back on the DFW Wagon:

    CC - £5,700 on 0% for 18 months
    Loan - £15,068 as at 2/1/17
    • newgirly
    • By newgirly 14th Jan 16, 6:30 AM
    • 5,810 Posts
    • 39,721 Thanks
    newgirly
    Morning skinny latte, just wanted to (belatedly!) wish you all, the best with the new mfw diary
    MFW 21
    Target for 2017 £38,545 / £14,264 paid so far

    Mortgage £47,330 4 years 8 months left. Total owed £63,993 planning to clear in 24 months
    WW target - 29.5 lb start date 11/5/17 so far 16.5lb lost.
    • Skinnylatte
    • By Skinnylatte 14th Jan 16, 10:53 PM
    • 1,089 Posts
    • 4,531 Thanks
    Skinnylatte
    Morning skinny latte, just wanted to (belatedly!) wish you all, the best with the new mfw diary
    Originally posted by newgirly
    Thank you not so newgirly!

    Job interview today !!! I cringe when I think about some of my asnwers, but suprisingly it seemed to go well.
    Just wait and see if I get a second interview now. The new job, wouldn't be a great deal more, but the pension is better, there's a car allowance, share options and an on call payment.

    Only spend today was £1.50 at a ladies social event I went to, I met some really interssting people, including a lady who had sailed around the world!

    Friday tomorrow woohoo
    Mortgage @ 12/04/2015 £136121 £121,350 10.85% DI £9.13 £6.51
    Mortgage free day 06/03/33 06/11/32
    Emergency/Offset Account £
    1706/£6000 0%
    CC Balance £6100
    £3778 Paid 38%
    1st LBM 02/06/2013 £21595 Debt Free Day 27/03/2015


    • hiddenshadow
    • By hiddenshadow 15th Jan 16, 12:52 PM
    • 2,242 Posts
    • 10,119 Thanks
    hiddenshadow
    Job interview today !!! I cringe when I think about some of my asnwers, but suprisingly it seemed to go well.
    Just wait and see if I get a second interview now. The new job, wouldn't be a great deal more, but the pension is better, there's a car allowance, share options and an on call payment.
    Originally posted by Skinnylatte
    Don't underestimate those benefits. I happened to increase my salary quite a bit when I last changed jobs, but the pension also went from matching 1% to matching 5% - even if my salary hadn't changed that's still a 4% raise (albeit one I won't be able to use until I retire).

    A co-worker of mine wants to sail around the world. I think it sounds cool but probably wouldn't like it in real life.
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,669 / Oct '17 £106,575
    2017 MFW #56: £13,093/£20,000 65% / MFiT-T4 #15: £52,924/£90,000 58%
    • Skinnylatte
    • By Skinnylatte 16th Jan 16, 11:36 PM
    • 1,089 Posts
    • 4,531 Thanks
    Skinnylatte
    A co-worker of mine wants to sail around the world. I think it sounds cool but probably wouldn't like it in real life.
    No I don't think I'd be so keen either, I prefer land.

    Bit of a rubbish day today. Tired, irritable and emotional, probably horomonal.

    Have tried to open a help to by isa for kids, they wanted to see ID, so we had to drive 14 miles to the nearest branch, which you couldn't park anywhere near, only to be told i should have written down the refererence number when I registered on line, and they coujldn't help. I was really annoyed and I have to say had a little strop, DS was much more mature!

    As a result I headed off to c@sta for hot chocolate, not a skinnylatte so technically not cheating . Then kicked my self as I should have gone to the McDs next door where it's much cheaper.

    Had a lovely text from a friend inviting me round for tea and a natter, which was very welcome

    Lots of driving practice today with DS today, he's doing really well, I feel very comfortable as a passenger.

    Tax rebate arrived, £558, they must have added some interest on. I found an email from Ladbrokes saying I had a £80.77 balance in my account, I must have forgotton to withdraw it when I had my matched betting phase and fleabay sales of £38.10 so I make that £676.87
    Mortgage @ 12/04/2015 £136121 £121,350 10.85% DI £9.13 £6.51
    Mortgage free day 06/03/33 06/11/32
    Emergency/Offset Account £
    1706/£6000 0%
    CC Balance £6100
    £3778 Paid 38%
    1st LBM 02/06/2013 £21595 Debt Free Day 27/03/2015


    • hiddenshadow
    • By hiddenshadow 17th Jan 16, 6:10 AM
    • 2,242 Posts
    • 10,119 Thanks
    hiddenshadow
    That's a nice bonus! I hate a love/hate relationship with finding forgotten money - I love doing it but usually kick myself for not finding/using it sooner.

    Shame about the bank and the ISA - seems like everything could/should be looked up by postcode these days, if nothing else.
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,669 / Oct '17 £106,575
    2017 MFW #56: £13,093/£20,000 65% / MFiT-T4 #15: £52,924/£90,000 58%
    • Skinnylatte
    • By Skinnylatte 21st Jan 16, 7:47 PM
    • 1,089 Posts
    • 4,531 Thanks
    Skinnylatte
    Working hard at the moment, nose to the grindstone. I've also been quite busy with the websites.
    Got a 2nd interview for the job next Wednesday
    Mortgage application still needs to be filled in, but I need a couple of hours to conccentrate on it, so it might be a Saturday job.

    End of the month is looking a bit sad, I haven't been paid since 23rd december, and still 1 whole week to go until payday, only £35 left in the 'spending account' and I'm going to need some fuel before then. DDs 19th birthday next week, but I do have that squirrelled away, so not too dire, maybe I'll just raid the birthday fund for fuel.

    Bonus getting paid end of next month. I can take it, after tax I'll end up with around £2400, if I pay this off my mortgage it'll save me £929 in interest and therefore be worth £3329.

    Or I can put it in my pension, that I get tax relief on, so it's immediately worth £4700, assuming it returns around 4% pa interest in my pension (debatable at the moment!) it would be worth £9,155 in 17 years, of which I could take £2288 tax free to pay off the mortgage and still have £6867 in my pension.

    So it won't pay off my mortgage any quicker, but it helps me build up my pension. Plus its a damn sight better than what I would have done with it in the past - spent it!

    I think that all makes sense anyway, if I did my sums right.

    Put in a mega milage claim today for £525. Not sure when that'll get paid though.
    Mortgage @ 12/04/2015 £136121 £121,350 10.85% DI £9.13 £6.51
    Mortgage free day 06/03/33 06/11/32
    Emergency/Offset Account £
    1706/£6000 0%
    CC Balance £6100
    £3778 Paid 38%
    1st LBM 02/06/2013 £21595 Debt Free Day 27/03/2015


    • jodles16
    • By jodles16 21st Jan 16, 8:25 PM
    • 1,313 Posts
    • 3,954 Thanks
    jodles16
    Hello Skinnylatte! Just wanted to wish you luck on your journey, sounds like a great deal on the mortgage and good luck with the second interview!

    Jodles
    MFW2017 #29 1200.24/4524
    MFiT #66
    Overall aim 10,124.20/21,743 (£156,000)
    2016- Jan-£177,472, Apr-£173,195.04, July- £171,417.47 Oct- 169,366
    2017- Jan- 167,347.80 Apr- July- Oct-

    • Ali-OK
    • By Ali-OK 21st Jan 16, 11:00 PM
    • 4,044 Posts
    • 16,552 Thanks
    Ali-OK
    Excellent news getting a 2nd interview, best of luck for it.

    Well done on the number crunching with your bonus - either way is a good use of the money.

    Some good chunks coming in with the tax rebate et al.
    Back on the DFW Wagon:

    CC - £5,700 on 0% for 18 months
    Loan - £15,068 as at 2/1/17
    • hiddenshadow
    • By hiddenshadow 22nd Jan 16, 11:45 AM
    • 2,242 Posts
    • 10,119 Thanks
    hiddenshadow
    Good luck with the second interview!
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,669 / Oct '17 £106,575
    2017 MFW #56: £13,093/£20,000 65% / MFiT-T4 #15: £52,924/£90,000 58%
    • safehouse
    • By safehouse 22nd Jan 16, 7:33 PM
    • 704 Posts
    • 1,908 Thanks
    safehouse
    Wow Skinny, carol Vorderman eat your heart out....wish I could add and predict my cash growth for the future like you, maths never my strongest subject.
    Good luck with the second interview
    • Skinnylatte
    • By Skinnylatte 25th Jan 16, 8:12 PM
    • 1,089 Posts
    • 4,531 Thanks
    Skinnylatte
    Thank you all for your good luck wishes, lets hope they work xx

    Had such a rubbbish day, pants at work, then came home to find my lovely darlings who had been at home all day had broken the cat flap, pulled the bathroom door handle off, made a mess in the kitchen and hadn't even thought to empty the dish washer or make some tea. Add to that being stuck in a jam and getting it taking 90 minutes instead of 60 to get home, I am not a happy mummy.

    I'm currently sulking in my room, quite hungry, but determined to to reappear for a while. I can hear the dishwasher being emtied though....

    Morgage application filled in and ready to go in the post box tomorrow.

    Water saving pack arrived and waiting to be fitted

    Cat puked on my bed

    Didn't win the postcode lottery, again


    Still hungry
    Mortgage @ 12/04/2015 £136121 £121,350 10.85% DI £9.13 £6.51
    Mortgage free day 06/03/33 06/11/32
    Emergency/Offset Account £
    1706/£6000 0%
    CC Balance £6100
    £3778 Paid 38%
    1st LBM 02/06/2013 £21595 Debt Free Day 27/03/2015


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