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  • FIRST POST
    • ButterflyBee
    • By ButterflyBee 17th Jul 11, 6:31 PM
    • 302Posts
    • 1,778Thanks
    ButterflyBee
    Counting down to mortgage free, dont know when but I do know how.
    • #1
    • 17th Jul 11, 6:31 PM
    Counting down to mortgage free, dont know when but I do know how. 17th Jul 11 at 6:31 PM
    Well this is a strange feeling. 4 years ago I was in such a bad state financialy, every day was a worry. £23k in debt (cr cards, loans, hpfinance.legal costs etc) redundant and a new mortgage only 3 months old not forgetting on the brink of a divorce. I read this forum every day but was to stressed and negative to post a message. Every day I thought about reposession and bantruptcy. How was I, A single mother, unemployed in a recession going to claw my way out of the deep black hole I was in!
    Well here I am, 4 years later debt free, driving a new car (it may be a Kia, but £40 a year road tax makes me smile) and I have this last year paid £2k off my huge mortgage of £189k. Some people ask me how I do it, honestly I do not know but I now have a new goal.

    I may be 44 with an interest only mortgage of £187k but I want to work towards being mortgage free at least at the end of the 21 years left on my mortgage.

    Baby steps: 1. No new debt and clear another £5k by July 2012.



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    Last edited by MSE Andrea; 11-10-2011 at 7:50 PM.
Page 4
    • ButterflyBee
    • By ButterflyBee 30th Jan 13, 6:18 PM
    • 302 Posts
    • 1,778 Thanks
    ButterflyBee
    Ugh!
    So silly, I signed up for the "free" graze box and unbeknown to me I clicked on send and should not have so I have been charged £ 3.89 which was not on my very mean budget. To crown it all. I signed in twice by mistake and now have a charge of £3.89 x2

    Now to cancel this subscription immediately!!!

    Good news a new lovely tap found on Ebayy for only £15 and a friends husband will fit in FOC!

    Last night ordered DD2 prom dress with alterations and personalised for £99 so very happy about that.

    The eating off a meal plan is working well and we have tried very different meals as well so am rather pleased with that. Tomorrow will be my first 10NSD in a row EVER!!!

    Place of work mentioned a promotion in place in the next 3 months with a salary increase so now I will begin to plan and then fingers crossed a colorful reward on the horizon!

    Life is actually rather good and I need to remind myself of that.
    Return and Restart August 2016
    22 Months to be debt free Aug2016 £12971.00 By Jun2018
    PAYDBX2016 #155 = £2268.93/£3414.93 00% paid
    UK Debt #00 = £9857.23/£13039 6% paid
    EmSavFund #204 = £85.00/£1000 6% paid
    Mortgage #00 = £183084/£183093 00% paid
    • ButterflyBee
    • By ButterflyBee 31st Jan 13, 9:27 AM
    • 302 Posts
    • 1,778 Thanks
    ButterflyBee
    February has now began in my books. The budget is firmly in hand, bills are paid and am already feeling strong, focused and in control. I am also off to the bank to close the account with this damn overdraft which is now settled. phew such a relief.

    Feb will by no means be easy but this is the training and preparation needed to be able to eventually change the mortgage.

    DS2 is starting French tutoring lessons which is stretching the budget and one of the cr cards to be used to roll the funds until then (all interest free!) but it's got to be done to get her into the grammar school.

    GOT TO REMAIN FOCUSED!
    Return and Restart August 2016
    22 Months to be debt free Aug2016 £12971.00 By Jun2018
    PAYDBX2016 #155 = £2268.93/£3414.93 00% paid
    UK Debt #00 = £9857.23/£13039 6% paid
    EmSavFund #204 = £85.00/£1000 6% paid
    Mortgage #00 = £183084/£183093 00% paid
    • ButterflyBee
    • By ButterflyBee 4th Feb 13, 9:29 AM
    • 302 Posts
    • 1,778 Thanks
    ButterflyBee
    I will never again bank with Santander!
    Oh I was so mad on Saturday. I was told to go into the branch to close my Santander account as this could not be done over the phone.

    So off I went as ill as a dog, coughing splattering and sniffeling all to be told I had to pay another £22.00 to close the accounts. It took over an hour to get this all done and dusted after a huge amount of angry crossed words.

    Ugh! I nearly punched someone in the face. There was a a nil balance on the account for goodness sake!

    Never-mind, today I will be sending a long letter of complaint and I shall also be charging them for my time and request the 2hours parking fees as well as the £22.00 back!

    Watch this space!
    Return and Restart August 2016
    22 Months to be debt free Aug2016 £12971.00 By Jun2018
    PAYDBX2016 #155 = £2268.93/£3414.93 00% paid
    UK Debt #00 = £9857.23/£13039 6% paid
    EmSavFund #204 = £85.00/£1000 6% paid
    Mortgage #00 = £183084/£183093 00% paid
    • ButterflyBee
    • By ButterflyBee 4th Feb 13, 1:47 PM
    • 302 Posts
    • 1,778 Thanks
    ButterflyBee
    Fessing up!
    Well I went into Argos and got the linen and a laundry basket for DD1 bedroom. Also went to Matalan for DD2 and got her bits and pieces.Then off to close bank account where they charged me furtyher fees (unfairly:complaint letter sent today)
    Total spend was -
    Santander: £22.00
    Matalan: £18.00
    Argos: £61.38

    Total spend of £101.38 not in the budget!!!
    Return and Restart August 2016
    22 Months to be debt free Aug2016 £12971.00 By Jun2018
    PAYDBX2016 #155 = £2268.93/£3414.93 00% paid
    UK Debt #00 = £9857.23/£13039 6% paid
    EmSavFund #204 = £85.00/£1000 6% paid
    Mortgage #00 = £183084/£183093 00% paid
  • Lois_E
    How annoying. How on earth did they justify charging you fees to close a nil balance account????
    Mortgage (2.5%): £75,143.13 £68,012.43 Daily interest: £5.09 £4.61
    Family loans (0%) FL1: £12,796.89 £9,875 FL2: £5,241.20 £4,250
    ISA (2.2%): £0 £3,158.14 EF (3%): £1,490 £?
    Total owed: £93,181.21 £82,147.43 Owed-ISA-EF: £91,691.21 £?
    Equity: 74.47% 77.50% Max owed: 6/9/11 Free: 6/9/39 26/7/38 Neutral: ?
    • ButterflyBee
    • By ButterflyBee 4th Feb 13, 10:35 PM
    • 302 Posts
    • 1,778 Thanks
    ButterflyBee
    Hi Louis,

    Full of bullhonk they were, but I was feeling so ill that I just did not have the strength to cause a scene in the bank and I desperately wanted the account closed. So I paid it to get rid of the account.

    They said that as it was Feb I am to be charged the usual £10 an month fee for Feb and the £10 Jan fee was to be raised on the 4th also as I had not yet deposited the required £500 for Feb that an under-funding fee would also be charged.

    Let's hope the letter template works or I will be on the telephone and I will become "abusive"
    Return and Restart August 2016
    22 Months to be debt free Aug2016 £12971.00 By Jun2018
    PAYDBX2016 #155 = £2268.93/£3414.93 00% paid
    UK Debt #00 = £9857.23/£13039 6% paid
    EmSavFund #204 = £85.00/£1000 6% paid
    Mortgage #00 = £183084/£183093 00% paid
    • ButterflyBee
    • By ButterflyBee 19th Feb 13, 1:08 PM
    • 302 Posts
    • 1,778 Thanks
    ButterflyBee
    Just quick little update on my MF diary.

    Happy to say that Standander has given me my money back and a small (very small) amount of compensation bringing that to a £30 refund. Well at least I am happy not to have lost any money.

    I have also received the papers to change my Mortgage to a repayment but will keep this on file for now. Need to get the promotion I am working towards and hopefully a salary increase and clear debts as much as possible.

    I will continue to battle the debt/Mortgage mountain until eventually I win!!!
    Return and Restart August 2016
    22 Months to be debt free Aug2016 £12971.00 By Jun2018
    PAYDBX2016 #155 = £2268.93/£3414.93 00% paid
    UK Debt #00 = £9857.23/£13039 6% paid
    EmSavFund #204 = £85.00/£1000 6% paid
    Mortgage #00 = £183084/£183093 00% paid
    • ButterflyBee
    • By ButterflyBee 28th Aug 16, 7:31 PM
    • 302 Posts
    • 1,778 Thanks
    ButterflyBee
    Back again after 3 years.
    here I am three years later...no movement on the mortgage and this time its all about making the difference!

    Budget done for the next three years!
    Mortgage Over payment :
    2016 - £45.00/£625.00
    2017 - £1740.00
    2018 - £2100
    Return and Restart August 2016
    22 Months to be debt free Aug2016 £12971.00 By Jun2018
    PAYDBX2016 #155 = £2268.93/£3414.93 00% paid
    UK Debt #00 = £9857.23/£13039 6% paid
    EmSavFund #204 = £85.00/£1000 6% paid
    Mortgage #00 = £183084/£183093 00% paid
    • ButterflyBee
    • By ButterflyBee 9th Oct 16, 4:48 PM
    • 302 Posts
    • 1,778 Thanks
    ButterflyBee
    I actually forgot that I had created a standing order for a £ 100 over payment and it just goes to show how easy it can be!

    Very happy to say that I made the over payment.
    Return and Restart August 2016
    22 Months to be debt free Aug2016 £12971.00 By Jun2018
    PAYDBX2016 #155 = £2268.93/£3414.93 00% paid
    UK Debt #00 = £9857.23/£13039 6% paid
    EmSavFund #204 = £85.00/£1000 6% paid
    Mortgage #00 = £183084/£183093 00% paid
    • Madcatgirl
    • By Madcatgirl 9th Oct 16, 9:44 PM
    • 299 Posts
    • 3,892 Thanks
    Madcatgirl
    Well done getting back in there with paying off the mortgage!
    March 2016 - £178,914.59; October 2016 balance £169,858.05
    Mortgage end date September 2043; Target - pay off by March 2026
    2016 overpayments £7,279.90Mini goal 50% ltv (c. £150,000) by September 2018
    • rasputin_thorpedo
    • By rasputin_thorpedo 10th Oct 16, 7:19 AM
    • 324 Posts
    • 1,885 Thanks
    rasputin_thorpedo
    Good work. Have you done a fag packet calculation to work out when you think you will be MF?
    May15 Mortgage - £185k | Dec16 - £162k | Dec17 - £142k | Dec18 - £120k | Dec19 - £97k | Dec20 - £73k | Dec21 - £46k | Dec22 - 18k | May23 - £0 Mortgage Free at 40 in May23!
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