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  • FIRST POST
    • themadvix
    • By themadvix 10th Mar 12, 9:51 AM
    • 1,058Posts
    • 5,939Thanks
    themadvix
    Finally I have a mortgage I can start to pay off!
    • #1
    • 10th Mar 12, 9:51 AM
    Finally I have a mortgage I can start to pay off! 10th Mar 12 at 9:51 AM
    Hi Everyone,
    Having been a long time lurker on this board whilst saving for a house deposit (you’re all so friendly and positive that it’s an inspiring place to ‘hang out’), my fiance and I completed on our first house yesterday!

    It’s a three-bedroomed terraced house in Hertfordshire (hence the long saving period) with an 80% LTV mortgage of £132,999 with Natwest, fixed for 2 years at 3.79%.

    There’s just the two of us (and our new two fish, Rosie and Jim, inherited with the house!), but I work from home, hence the need for a third bedroom as office space. We won’t be moving in until June as the house needs some work doing and we’re getting married in June so it seemed to be a sensible option (as we both currently live with our parents…tragic I know in my late 20s, but nice mortgage rate as a result).

    Obviously with house needing work and a wedding looming, I don’t expect to be making much in the way of overpayments for a while (but this won’t stop me rounding numbers down or transferring small bits across). Another issue is that although DF is employed (and hopefully about to get a new job in the company ), I am self-employed and therefore my income varies drastically from month to month. However, I have built up a fairly solid client base over the last five years, and especially in the last year, so I hope that this will continue to improve and that I will be able to contribute to overpayments.

    DF is the spreadsheet nut, so I’m hoping he’ll get it set up for me so I can play with figures soon (although I have no idea what a pivot table is and am not convinced I need to know! ) We’re already a very MSE couple having been saving for so long – we cashback, do surveys, shop around, get the freebies that are relevant to us and have already (having gone to the house last night) established that if I’m paying the energy bills we’ll be living in a cold house! In all seriousness though, we are both on board with the idea of overpaying the mortgage - it just makes sense!

    So, for the moment this diary will be a place to record the small things I do as well as the little overpayments I make (once my mortgage shows up in online banking!). Once June has flown past and we’re back from our honeymoon, I’ll get a grip on income and expenditure and work out an SOA and how much we can regularly overpay.

    Vicky

    PS Long, long term, this isn’t our forever home and one day we’d like to build our own environmentally friendly home! But more of that in the future…
    Last edited by themadvix; 21-11-2016 at 5:06 PM. Reason: Because I got the interest rate wrong!!
Page 35
    • themadvix
    • By themadvix 11th Oct 17, 12:30 PM
    • 1,058 Posts
    • 5,939 Thanks
    themadvix
    Thanks KC - I'm rather impressed too! And while I'd like to be paying it off, my student loan bill is reduced because I get relief on that too when I'm paying into pension. Apart from not being able to access it until 55 (or the govt say I can), pensions seem to be a winner all round.

    Not a lot to report today, but want to get back into swing of posting daily - it helps, definitely.

    MS things:
    * Have listed something that was already on ebay on FB as it's a collection only item.
    * Clearing small bedroom has begun, but there seems to be a pile of things needing selling/things already listed that aren't shifting/things I need to sell on behalf of Brownies/raffle prizes for Brownies!
    * 2 surveys on VB for £7.50 (total) - back up to £8.60 already
    * Lots of work coming in and getting done
    * Comps etc.
    * No heating - wheat sheep and alpaca socks today!

    Gratitudes:
    * Sis and niece popping round shortly for a cuppa (I suspect that will turn into lunch)
    * Alpaca socks (we bought these last year in Munich and they didn't get much wear as we'd already got the heating on - I find the extra warming bits get more use at this time of year as I try to keep the heating off. DH is already a convert!)
    * Loving my house at the moment
    OPs 2017 = £2603/£10000
    S&S ISA = £300/£600
    OPs made 2016 = £6142.12
    Starting balance 2012: £132000; balance June 2017: £99,974
    MFW2017 no. 38
    • Watty1
    • By Watty1 11th Oct 17, 4:40 PM
    • 2,835 Posts
    • 19,641 Thanks
    Watty1
    Love a warm pair of socks....definitely money saving. Have even had the woodburner off here thanks to the tog rated socks!
    Mortgage at start of diary Sept 2013: £132,995 Aug 2015 £0
    Overpaying next mortgage. £79,491 now £27152
    • themadvix
    • By themadvix 12th Oct 17, 11:30 AM
    • 1,058 Posts
    • 5,939 Thanks
    themadvix
    Morning all!

    I slept better last night (have had three nights of very poor sleep), so am feeling bright-eyed and bushy-tailed this morning. Work has been completed (for the time being), a 200 point MM survey done and daily comps entered.

    Off for lunch with sis and niece (we're going to a street food market in the nearby town, but I suspect it will be a let down and we may end up in a cafe) and have lots of jobs to do while I'm out.

    MS things:
    * 50p YG and 50p NV surveys done
    * 200 MM survey (I had to force myself to do it as it was longer than I like, but actually interesting and about NHS budget allocations)
    * VB poll done
    * Free apples from Freecycle man stewed ready for crumble
    * Heating still off (although I have realised that it's actually not that cold, so it's not surprising!). Socks and sheep keeping me warm (he had emergency surgery yesterday as he was leaking!)
    * Voucher for free pizza from entering comp Now I have another two of these, so DH and I don't need to share next time.

    Going to Sains for a top-up shop later - will be redeeming my 1000 point voucher while I'm there, which equates to another Pizza Express meal next summer! (I'll also use the triple points voucher while I'm there).

    Gratitudes:
    * A sunny day
    * Lunch with sister
    * A chance to get out of the house
    * A good night's sleep (these last two are very important - I was miserable yesterday evening)
    OPs 2017 = £2603/£10000
    S&S ISA = £300/£600
    OPs made 2016 = £6142.12
    Starting balance 2012: £132000; balance June 2017: £99,974
    MFW2017 no. 38
    • Karmacat
    • By Karmacat 13th Oct 17, 10:04 AM
    • 27,854 Posts
    • 152,629 Thanks
    Karmacat
    Sainsbo vouchers! I have Sainsbo vouchers I can use - thanks for the reminder. Must start using them, I have some stock up items I need to buy.
    Retired August 2016
    • earthgirl
    • By earthgirl 14th Oct 17, 9:26 PM
    • 2,453 Posts
    • 19,753 Thanks
    earthgirl
    I’ve been leaving it too long between posts for me,I e definitely been making a few different spending choices, I’m going to post more too to keep myself accountable. Hope lunch was nice.
    15/5/12 Paid off Mortgage 1 (£220k) Dec 13 - £116,508 Bought Dream House Dec 14 - £94, 402 (£22,106 offset in 2014) Jan 16 - £67, 852 (£26,550 offset in 2015) Dec 16 - £33,529 ( £34,323offset in 2016)
    Jan 17 - £39, 773 (Re-estimation of endowments )
    June 17 £32,053 Sept 17 £22,619
    Kids savings 13,578/36k
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