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  • FIRST POST
    • Sundaysgirl
    • By Sundaysgirl 12th Jun 13, 2:13 PM
    • 1,080Posts
    • 6,256Thanks
    Sundaysgirl
    Sundaysgirl's MFW journey - better late than never!
    • #1
    • 12th Jun 13, 2:13 PM
    Sundaysgirl's MFW journey - better late than never! 12th Jun 13 at 2:13 PM
    After a few months of lurking, (which has given me a huge amount of inspiration and motivation to become MF!) I’ve decided to start my own diary – eek!

    A bit about me…living with fianc! but we keep separate finances, no children, the house is mine so all OPs are down to me. Good job, good salary, no debts other than my mortgage – student loan cleared and credit cards repaid in full each month. I have about 6 months’ net pay in savings, mostly in an ISA.

    Bought my house in 2007 - £125,000 mortgage with a 30 year term on a 2 year fix, good LTV ratio.

    I’m currently on a 4.69% 18 year term, 5 year fix which ends in September 2014. Whilst I have made some ad hoc OPs since I started the current fix a few years ago, I have only recently (March) started making regular monthly OPs, having had my light bulb moment after reading the MFW board. I should by now be down to 14 years 2 months remaining, but IIRC I have so far shaved around 2 years off this– need to check the latest OP statement tonight!

    My mortgage currently stands at £93,018.85 by my calculations. My current deal allows me to overpay 10% of the January balance each year. My aim isto be MF by Christmas 2022 – I think this is achievable provided I keep up my motivation and manage to maintain the current level of OPs. The plan will probably be to buy a large “forever”home with OH once I am MF.

    I am actually hopingto be able to ramp up the OPs next Autumn after my fix ends, I want to ensure that my next mortgage doesn’t restrict me on OPs so much, as whilst it’s not a problem this year, it will be next year when I hopefully will have much more free cash (once our wedding is paid for – currently taking up a big chunk of my salary each month in saving for this!) and a smaller January mortgage balance.

    The thing I’m finding a bit tough is wiping out my “spare” cash at the start of each month on mortgage OPs – especially since OH is not in the same boat. I want to be frugal as I’m determined to get my mortgage cleared ASAP, but at the same time I don’t want to become a tight-@%$3 who won’t do anything that involves spending as don’t feel that’s fair on OH!

    Sorry for waffling…hope I’ve remembered to include everything… and thanks for reading!

    All suggestions on ways to help me become MF as I go along are welcome J

    Last edited by Sundaysgirl; 12-06-2013 at 2:28 PM.
    No buying unnecessary toiletries 2013: (123) 2014: (76) 2015:(68)
    MFW 2016 #123 2016: £30,230.17/£24,000 MORTGAGE FREE!!!
    No buying unnecessary books: 31/52
Page 10
    • chelseablue
    • By chelseablue 26th Aug 16, 11:42 AM
    • 1,848 Posts
    • 2,357 Thanks
    chelseablue
    I think we'd just do the bedrooms tbh.


    Was just talking to our maintenance man at work (who also does up houses in his spare time!)


    He said if I pay for the lights he'll come and do it for me :-D
    Baby Boy born May 2014

    Mortgage starting balance 26.02.16 £231,294
    • hiddenshadow
    • By hiddenshadow 26th Aug 16, 12:15 PM
    • 1,762 Posts
    • 7,984 Thanks
    hiddenshadow
    Sounds very familiar!

    EVERYTHING!
    full rewire and spots in most rooms - check
    new boiler and rads - avoided this, thankfully (quote of 5k but we won't do it now)
    new (not at all MSE!) bathroom - also did the downstairs toilet...probably could have been a bit more MSE but we did all right
    new kitchen flooring - plus new kitchen for us
    all rooms replastered and redecorated - didn't fully replaster, but all rooms got at least one wall done
    new ceilings - death to polystyrene tiles and wallpapered ceilings!
    floors (including staircase) stripped back to original boards - we've replaced all the carpet with hardwood, still have the 2 staircases left to do
    new fence and outdoors lighting and wiring - still need to landscape

    ... basically it is now a completely different, beautiful (IMO!) home, exactly how I want it. Now to do the same to the next house...!
    Originally posted by Sundaysgirl
    Budget app says we've spent £17,637.18 in our home maintenance and home improvement categories, and we started using it 8 months after moving in (so probably another 2-3k there). That also includes £6k to install solar panels.

    I guess on the plus side, when we go to sell there shouldn't be much left to do! Possibly paint everything magnolia if recommended and power wash the outside of the house.
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Nov '16 £122,388 (£5,228 offset)
    Payment 34/84 / 2016 MFW #56: £39,281/£43,000 91% / MFiT-T4 #15: £37,112/£90,000 41%
    • chelseablue
    • By chelseablue 26th Aug 16, 12:19 PM
    • 1,848 Posts
    • 2,357 Thanks
    chelseablue
    My parents still have polystyrene ceiling tiles in every room
    Baby Boy born May 2014

    Mortgage starting balance 26.02.16 £231,294
    • hiddenshadow
    • By hiddenshadow 26th Aug 16, 3:11 PM
    • 1,762 Posts
    • 7,984 Thanks
    hiddenshadow
    DIY-wise they were the best as they were super quick/easy to take down, especially compared to wallpaper! Fire hazard-wise, though, not so pleasant.
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Nov '16 £122,388 (£5,228 offset)
    Payment 34/84 / 2016 MFW #56: £39,281/£43,000 91% / MFiT-T4 #15: £37,112/£90,000 41%
    • Sundaysgirl
    • By Sundaysgirl 12th Sep 16, 1:27 PM
    • 1,080 Posts
    • 6,256 Thanks
    Sundaysgirl
    Standard mortgage payment (now reduced thanks to base rate cut!) taken whilst we were on holiday, I spent less than budgeted so have OP'd an additional £150 and aiming to do same again closer to pay day all being well. Mortgage at £10,678.53, daily interest 66p!
    No buying unnecessary toiletries 2013: (123) 2014: (76) 2015:(68)
    MFW 2016 #123 2016: £30,230.17/£24,000 MORTGAGE FREE!!!
    No buying unnecessary books: 31/52
    • chelseablue
    • By chelseablue 12th Sep 16, 1:38 PM
    • 1,848 Posts
    • 2,357 Thanks
    chelseablue
    66p! Mines about 9 quid a day


    Wasn't going to over pay this month, but I think I will now!
    Baby Boy born May 2014

    Mortgage starting balance 26.02.16 £231,294
    • Sundaysgirl
    • By Sundaysgirl 23rd Sep 16, 9:19 AM
    • 1,080 Posts
    • 6,256 Thanks
    Sundaysgirl
    Pay day!


    £2,300 OP'd (have also made a few very small OPs thanks to £co etc over past week or so), balance now at £8,372.91
    No buying unnecessary toiletries 2013: (123) 2014: (76) 2015:(68)
    MFW 2016 #123 2016: £30,230.17/£24,000 MORTGAGE FREE!!!
    No buying unnecessary books: 31/52
    • Sundaysgirl
    • By Sundaysgirl 28th Sep 16, 2:01 PM
    • 1,080 Posts
    • 6,256 Thanks
    Sundaysgirl
    Another small £co OP made: £14.35. Mortgage at £8,361.13.


    Thanks to my role change I have another pay day next week so hoping to OP a large part of this "bonus" pay and reduce balance to £4,000. May manage to become MF before we move house at this rate!
    No buying unnecessary toiletries 2013: (123) 2014: (76) 2015:(68)
    MFW 2016 #123 2016: £30,230.17/£24,000 MORTGAGE FREE!!!
    No buying unnecessary books: 31/52
    • hiddenshadow
    • By hiddenshadow 28th Sep 16, 4:54 PM
    • 1,762 Posts
    • 7,984 Thanks
    hiddenshadow
    That would be brilliant.
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Nov '16 £122,388 (£5,228 offset)
    Payment 34/84 / 2016 MFW #56: £39,281/£43,000 91% / MFiT-T4 #15: £37,112/£90,000 41%
    • Sundaysgirl
    • By Sundaysgirl 18th Oct 16, 1:23 PM
    • 1,080 Posts
    • 6,256 Thanks
    Sundaysgirl
    New pay day has been and gone - another £2,750 OP'd (annoyingly realised I have to hold back all of the following month bill payments as I'm now paid first working day but not first thing, so the DDs come out before I'm paid...).


    Also made a few smaller OPs totalling £25.71 thanks to TCB, £co and COS cash outs.


    Mortgage at £4,900.95 and I'm struggling not to just pay it off from savings (but they're tax sheltered...). Will see what happens with the house move - may happen this month, next, or not at all - if it's looking like this month I will use savings to become MF, otherwise I will sit tight and try to do so from November salary in two weeks.
    No buying unnecessary toiletries 2013: (123) 2014: (76) 2015:(68)
    MFW 2016 #123 2016: £30,230.17/£24,000 MORTGAGE FREE!!!
    No buying unnecessary books: 31/52
    • Sundaysgirl
    • By Sundaysgirl 2nd Nov 16, 9:03 AM
    • 1,080 Posts
    • 6,256 Thanks
    Sundaysgirl
    So I have two bits of exciting news:


    1. we exchanged on our new home on Friday (finally and after weeks of stress!). Completion in a few weeks


    2. pay day yesterday and I paid off the mortgage balance - called Nationwide to confirm and I am officially mortgage free (for a few weeks until the whopper kicks in on the new place, anyway!)


    So I'll be starting a new thread to chart our new journey once that starts!
    No buying unnecessary toiletries 2013: (123) 2014: (76) 2015:(68)
    MFW 2016 #123 2016: £30,230.17/£24,000 MORTGAGE FREE!!!
    No buying unnecessary books: 31/52
    • hiddenshadow
    • By hiddenshadow 2nd Nov 16, 9:30 AM
    • 1,762 Posts
    • 7,984 Thanks
    hiddenshadow
    Wooo! Exciting news on both fronts!

    Enjoy being MF in the meantime.
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Nov '16 £122,388 (£5,228 offset)
    Payment 34/84 / 2016 MFW #56: £39,281/£43,000 91% / MFiT-T4 #15: £37,112/£90,000 41%
    • Sundaysgirl
    • By Sundaysgirl 2nd Nov 16, 9:33 AM
    • 1,080 Posts
    • 6,256 Thanks
    Sundaysgirl
    Thanks hiddenshadow!
    No buying unnecessary toiletries 2013: (123) 2014: (76) 2015:(68)
    MFW 2016 #123 2016: £30,230.17/£24,000 MORTGAGE FREE!!!
    No buying unnecessary books: 31/52
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