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    • BookWorm
    • By BookWorm 3rd Aug 14, 10:08 AM
    • 2,201Posts
    • 13,606Thanks
    BookWorm
    BookWorm's MFW Chapter
    • #1
    • 3rd Aug 14, 10:08 AM
    BookWorm's MFW Chapter 3rd Aug 14 at 10:08 AM


    I’ve been lurking around these parts for a good while now with occasional posts here and there. However, after reaching what I consider to be a milestone with my mortgage (will come back to that shortly), I felt the time was right to start my own diary. I figured if I don’t now, I may never do so!

    It was after reading some of the inspirational diaries on here that caused me to have my ‘light bulb moment’ back in 2012. Until then, I didn’t really know about overpaying a mortgage – and certainly didn’t know what a positive effect even small amounts can have. It also caused me to review my spending overall (and whilst I wasn’t bad by any means), it certainly made me think and become very aware of where I could become better.

    I’m in my mid 30’s, single and although I have an ok paying job, I’m unlikely to get my mortgage cleared anytime soon. Money only goes so far after all and I do still want some semblance of a life in the meantime. However, I figured all progress is good right (thinking tortoise and the hare!)

    Ok so on to the figures:

    Mortgage taken out June 2010 with 10% deposit – initial rate 6.59% fixed for 3 years - initial balance £104499. 25 year term due to finish July 2035

    (I had no one to advise me not to add the fees to the balance – lesson 1 learnt!)

    LBM – October 2012 – still on the scary rate – balance £100,664.70

    2013 – started with a balance of £100,499.88 – during the year I dropped to the SVR of 4% which was a welcome relief. However, after being around these parts, I continued to OP the difference in payments which means it does tick along nicely. I remortgaged in November and as the extra OP’s had dropped me below 85% LTV and I wanted to fix again for peace of mind. I now have a rate of 3.75%. which is fixed until March 2016. I got £100 cashback as I stayed with the same provider which duly went on as an OP! I’m hoping that I can get down to below 75% LTV by the time the deal runs out (and if I can manage 70% so much the better!)

    2014 – started with a balance of £94,591.34. Ok now back to the milestone. As of today, my balance is £89,733.43! I have dropped into the 80’s for the first time!!

    I have also worked out that the monthly interest will push me back into the dreaded 90’s by £12.30… so I have to make sure that I can OP by at least that much as there is no way I want to creep back over that threshold. I have £9 owing from survey payments and so I’m confident I can do this.

    So here is the start of my diary (if not the journey itself).
    Everyone is welcome…I’d love some company along the way. So pull up a chair, have a brew and make yourselves at home.

    BW
    Last edited by BookWorm; 10-01-2015 at 9:14 PM.
Page 55
    • BookWorm
    • By BookWorm 5th Oct 16, 8:23 PM
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    BookWorm
    I'm sure I have lots that I want to update on but now I've gotten here my mind had gone blank I think it's a sign I'm tired.... off to chill out...
    • BookWorm
    • By BookWorm 6th Oct 16, 8:36 PM
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    • 13,606 Thanks
    BookWorm
    Received the money from the items I 'sold' on Sunday and so dutifully sent as an OP.

    Another long and busy day...so gonna veg on the sofa with some property programs to chill out (and try not to fall asleep!) Rock n roll eh?!
    Last edited by BookWorm; 06-10-2016 at 8:58 PM.
    • BookWorm
    • By BookWorm 7th Oct 16, 7:47 PM
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    • 13,606 Thanks
    BookWorm
    So happy my working week is done...it's been a pig to get through....but I made it Can't see me being late to bed though as I'm shattered.

    £3 payment received from MyS and sent as OP.

    I've had a message to say about my 4 year anniversary badge....can't believe how fast those 4 years have gone!
    • CathT
    • By CathT 8th Oct 16, 7:53 AM
    • 4,888 Posts
    • 33,493 Thanks
    CathT
    Have a relaxing weekend BW. Any plans?
    June 2010 £121,287
    Nov 2016 £84,680
    WIOTW Nov £92,214
    • EatingTheElephant
    • By EatingTheElephant 8th Oct 16, 8:04 AM
    • 605 Posts
    • 2,923 Thanks
    EatingTheElephant
    Happy 4 year anniversary
    • BookWorm
    • By BookWorm 8th Oct 16, 10:31 AM
    • 2,201 Posts
    • 13,606 Thanks
    BookWorm
    Good Morning

    Feeling much brighter after a good nights sleep and a bit of a lie in. Amazing how much that can help!


    Happy 4 year anniversary
    Originally posted by EatingTheElephant
    Thanks


    Have a relaxing weekend BW. Any plans?
    Originally posted by CathT
    Cheers Cath I didn't have plans orginally but now have some visitors popping over this afternoon so that will be good. I've baked a ginger cake for them. Smells lovely and it's hard to wait to try it
    • BookWorm
    • By BookWorm 8th Oct 16, 11:38 AM
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    • 13,606 Thanks
    BookWorm
    £10 voucher from CP arrived in the post
    • BookWorm
    • By BookWorm 9th Oct 16, 9:38 AM
    • 2,201 Posts
    • 13,606 Thanks
    BookWorm
    Had a lovely day with my visitors. Made me forget all about work and I relaxed properly The cake is alsmost gone too

    Today will be spent doing garden jobs. Want to give it a good tidy up and get the lawn mowed for what will probably be the last time this year.

    Also want to catch up on some surveys too (will have to save that for after the garden or I may never get outside)

    Have a super Sunday
    • BookWorm
    • By BookWorm 11th Oct 16, 6:39 PM
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    • 13,606 Thanks
    BookWorm
    Good evening.

    Work...meh. Counting the days til the weekend.

    Really noticing the nights drawing in now. Need to make the most of the next couple of weeks as once clocks change I will be back to my mole time (ie getting up in the dark and getting home in the dark) Feel like summer has flashed past quicker than ever this year!

    OP's are ticking along
    £3 OP from PC payment yesterday
    £11.40 PB payment today

    BW x
    • A Frayed Knot
    • By A Frayed Knot 11th Oct 16, 7:26 PM
    • 1,742 Posts
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    A Frayed Knot
    Done the same as you, although on the Saturday, which was lovely and sunny. Garden is now look good, and like you hoping it was the last cut of the year. However still mild for this time of year.

    Good to see you still chipping away at your mortgage, will make a difference even if you don't feel it at the time.
    Always have 00.00 at the end of your mortgage balance and someday it will all be 0's
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    o/p 2014/£4000, 2015/£6294.69 MFW2016 #27 £3101.03/£3000
    £1000/£1000 51.44/33.29=84.73
    • BookWorm
    • By BookWorm 11th Oct 16, 7:49 PM
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    • 13,606 Thanks
    BookWorm
    Hello AFK.

    Great minds re the gardening eh? I'm enjoying looking at it being all neat and tidy. If only it stayed that way!

    Until today I would have agreed with you about being mild...it was 3 degrees when I left for work today....brrrr!

    My OP's have slowed this year (for a number of reasons) and I'm trying to remember all the small bits add up over time. Need to remember it's a marathon not a sprint!
    • A Frayed Knot
    • By A Frayed Knot 11th Oct 16, 8:48 PM
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    • 7,993 Thanks
    A Frayed Knot
    Hello Bookworm

    The only way it would stay tidy is . . . . artificial grass . . . . and don't think, I haven't thought about it

    As for o/p . . . . even if it's just a £1, that's a £1 you will never pay interest on, ever again
    Always have 00.00 at the end of your mortgage balance and someday it will all be 0's
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    o/p 2014/£4000, 2015/£6294.69 MFW2016 #27 £3101.03/£3000
    £1000/£1000 51.44/33.29=84.73
    • hiddenshadow
    • By hiddenshadow 11th Oct 16, 10:16 PM
    • 1,771 Posts
    • 8,018 Thanks
    hiddenshadow
    Our garden is quite bare as we haven't had anything done to it since it got cleared out for the fence install. I'm still undecided about what to do with it, given we plan to rent and/or sell next year. Paving slabs would be the easiest but not necessarily most attractive to tenants/buyers?
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,799 (£6,724 offset)
    Payment 35/84 / 2016 MFW #56: £41,870/£43,000 97% / MFiT-T4 #15: £39,701/£90,000 44%
    • BookWorm
    • By BookWorm 12th Oct 16, 9:08 PM
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    BookWorm
    Hi Hidden

    If you are renting, I would say go for whatever is easy to maintain. I know that as a tenant I wasn't interested in gardening. Didn't want to spend time and money on a garden to have to move out at landlord's whim. Also, there is the chance a tenant could trash whatever you leave there.

    For selling, I would do the bare minimum. I think as long as it's fairly tidy (or rather just not an overgrown jungle!) then most wouldn't mind what it is. Everyone has their own ideas when they buy a house.

    Just my opinions...dunno if they help...

    • hiddenshadow
    • By hiddenshadow 13th Oct 16, 1:36 PM
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    hiddenshadow
    Thanks, BW. From a renting/maintenance standpoint I like the idea of paving slabs as it's tidy/easy to maintain. From a selling standpoint I don't know what the best option is, really. Suppose we'll probably wait until spring and then get quotes for paving vs turf and see what seems best then...may also have a better idea of if/how long we'll rent the house then, as well.
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,799 (£6,724 offset)
    Payment 35/84 / 2016 MFW #56: £41,870/£43,000 97% / MFiT-T4 #15: £39,701/£90,000 44%
    • BookWorm
    • By BookWorm 13th Oct 16, 6:34 PM
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    • 13,606 Thanks
    BookWorm
    Phew... it is the weekend yet? I'm tired enough to think it should be!

    Tonight's tea will be something quick and easy and I'm gonna veg on the sofa after that. CBA with anything else!!

    Nothing to report on the survey or OP front - more's the pity!
    • hiddenshadow
    • By hiddenshadow 13th Oct 16, 8:34 PM
    • 1,771 Posts
    • 8,018 Thanks
    hiddenshadow
    Phew... it is the weekend yet? I'm tired enough to think it should be!
    Originally posted by BookWorm
    This week has gone on forever, everyone I talk to concurs.

    We're doing leftovers. 2min in the microwave is about all we can manage, especially as I locked myself out this morning so spent an hour at work waiting for someone to show up and an hour tonight waiting for DH to get home!
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,799 (£6,724 offset)
    Payment 35/84 / 2016 MFW #56: £41,870/£43,000 97% / MFiT-T4 #15: £39,701/£90,000 44%
    • BookWorm
    • By BookWorm 13th Oct 16, 9:16 PM
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    • 13,606 Thanks
    BookWorm
    Oh no! That's not what you need at the end of a busy day!
    • hiddenshadow
    • By hiddenshadow 13th Oct 16, 9:17 PM
    • 1,771 Posts
    • 8,018 Thanks
    hiddenshadow
    Thanks - at least tonight it wasn't raining, plus the neighbours were nice and let me wait in their kitchen rather than outside. Still would rather have been in my own home next door instead.
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,799 (£6,724 offset)
    Payment 35/84 / 2016 MFW #56: £41,870/£43,000 97% / MFiT-T4 #15: £39,701/£90,000 44%
    • A Frayed Knot
    • By A Frayed Knot 14th Oct 16, 8:43 AM
    • 1,742 Posts
    • 7,993 Thanks
    A Frayed Knot
    [QUOTE=BookWorm;71448844]Phew... it is the weekend yet? I'm tired enough to think it should be!/QUOTE]


    It is for me ......... I'm on a/l today and Monday - so a 4 day weekend Little DB big birthday this weekend. Off to shops, need to get a card
    Always have 00.00 at the end of your mortgage balance and someday it will all be 0's
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    o/p 2014/£4000, 2015/£6294.69 MFW2016 #27 £3101.03/£3000
    £1000/£1000 51.44/33.29=84.73
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