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    • BookWorm
    • By BookWorm 3rd Aug 14, 10:08 AM
    • 2,223Posts
    • 13,672Thanks
    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 56
    • BookWorm
    • By BookWorm 14th Oct 16, 6:28 PM
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    BookWorm

    It's now the weekend for me too!!

    • EatingTheElephant
    • By EatingTheElephant 15th Oct 16, 6:53 AM
    • 699 Posts
    • 3,395 Thanks
    EatingTheElephant

    It's now the weekend for me too!!

    Originally posted by BookWorm
    I'm glad it's the weekend too

    Have a good one!
    • BookWorm
    • By BookWorm 15th Oct 16, 9:52 AM
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    BookWorm
    Thanks ETE You too!
    • BookWorm
    • By BookWorm 15th Oct 16, 10:17 AM
    • 2,223 Posts
    • 13,672 Thanks
    BookWorm
    Good Morning.

    I'm pleased that there is no work for a couple of days. I'm really mentally worn out and looking forward to letting my brain relax.

    I've got a friend coming over this afternoon for coffee and a slice of cake (baked a chocolate fudge one last night). Otherwise no major plans. Aim will be to spend as little money as possible as payday is still quite a way off.

    Disappointing news this week with all the bank account interest rate and/or reward cuts. It's hard to know what to do to get some better returns. I don't understand the stockmarket/shares really and I don't want many more accounts as it's becoming both complicated and time consuming - neither of which I want. Do need to give it some more thought though.

    4 vouchers received from a survey. Added to ths chrimbo stash pile for now

    • BookWorm
    • By BookWorm 16th Oct 16, 8:44 AM
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    • 13,672 Thanks
    BookWorm
    Feeling a bit glum today. I'm finding looking after and maintaining the house a tad overwhelming at the moment. There are a few things that have happened and/or suddenly need fixing and I don't know where to start. I used to relish the challenge of dealing with these things by myself but at the moment it's a bit much.

    Woken to heavy rain this morning too which is also making things feel very grey.....
    Last edited by BookWorm; 16-10-2016 at 8:46 AM.
    • Kittenkirst
    • By Kittenkirst 16th Oct 16, 9:22 AM
    • 1,120 Posts
    • 5,175 Thanks
    Kittenkirst
    Sorry to hear you are feeling a bit glum BookWorm, try not to be hard on yourself you really do well and are a massive inspiration to many.

    X
    Emergency savings- 1370.01 /1750
    Mortgage Oct '16- 170.995 LTV- 90% end date Nov 2041
    2016 OPs 255.50/150
    2017 MFW #20 - OP 374.82/ 2150. 17.4%
    Jan- 68.65
    Feb- 306.67
    • BookWorm
    • By BookWorm 17th Oct 16, 7:08 AM
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    BookWorm
    awww Kittenkirst...not so sure about that but very sweet of you to say. Thanks hun x
    • muddywhitechicken
    • By muddywhitechicken 17th Oct 16, 8:56 AM
    • 3,564 Posts
    • 32,840 Thanks
    muddywhitechicken
    Hope you're feeling less glum today BW (although it is the start of the working week so maybe not...!)

    Everybody on here knows something so I'm sure between us we can point you in the right direction if you need some advice.

    Have you read The Readers of Broken Wheel Recommend?

    MWCx
    Mortgage at highest (April 2008): ~195,000
    Outstanding balance: ~52,500
    Current total overpayments: ~105,750
    • mortgage_girl
    • By mortgage_girl 18th Oct 16, 8:06 PM
    • 818 Posts
    • 3,786 Thanks
    mortgage_girl
    Sorry to hear that you've been feeling a bit fed up BW. I hope that you're spending plenty of time resting and letting your mind unwind. I'm sending you a virtual hot choc with extra marshmallows and a dodgy looking hug too

    Take it easy

    MGx
    2017: 770 / 11,000
    2016: 4557.98 / 11,000 2015: 10,230.37 / 11,000
    2014 =6703.26 / 11,000 2013 = 4288.51 / 8000 2012 = 1600/5000 2011 = 2579/3000
    MF date was Nov 2041 - now Sept 2022

    • rasputin_thorpedo
    • By rasputin_thorpedo 18th Oct 16, 9:15 PM
    • 343 Posts
    • 2,017 Thanks
    rasputin_thorpedo
    Step by step bookworm.

    Tell us the problems - verbalising them, making a list, and maybe our input too will help?

    MvM
    May15 Mortgage - 185k | Dec16 - 157k | Dec17 - 135k | Dec18 - 113k | Dec19 - 90k | Dec20 - 66k | Dec21 - 40k | Dec22 - 12k | May23 - 0 Mortgage Free at 40 in May23!
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 18th Oct 16, 9:38 PM
    • 3,761 Posts
    • 34,841 Thanks
    Secret Saving Squirrel
    Hope we can help, Bookworm. Take care
    Paid off mortgage nine years early in 2013. Now picking and choosing our work to fit in with the rest of our lives!
    Still thrifty though, after all these years
    • A Frayed Knot
    • By A Frayed Knot 18th Oct 16, 10:45 PM
    • 1,849 Posts
    • 8,438 Thanks
    A Frayed Knot
    Feeling a bit glum today. I'm finding looking after and maintaining the house a tad overwhelming at the moment. There are a few things that have happened and/or suddenly need fixing and I don't know where to start. I used to relish the challenge of dealing with these things by myself but at the moment it's a bit much.

    Woken to heavy rain this morning too which is also making things feel very grey.....
    Originally posted by BookWorm
    I think I know what you mean, it's times like this, I miss my rented 1 bed flat, at least if things needed mending or fixing, it was down to them, not me and much smaller to keep tidy/clean.
    However tomorrows another day, so start with the easiest/smallest/job you feel like doing and take it from there. There - that's one off the list. also I find a good few early nights help me recharge my batteries.

    Sorry to hear that you've been feeling a bit fed up BW. I hope that you're spending plenty of time resting and letting your mind unwind. I'm sending you a virtual hot choc with extra marshmallows and a dodgy looking hug too

    Take it easy

    MGx
    Originally posted by mortgage_girl
    Thank goodness there's someone else with a dodgy mind great minds, and all that.
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69,2016/3186.80
    • mortgage_girl
    • By mortgage_girl 23rd Oct 16, 7:06 PM
    • 818 Posts
    • 3,786 Thanks
    mortgage_girl
    Thank goodness there's someone else with a dodgy mind great minds, and all that.
    Originally posted by A Frayed Knot
    They certainly do!

    Hope you're ok BW and that you're taking some time for you.

    Sending (non dodgy) hugs.

    MGx
    2017: 770 / 11,000
    2016: 4557.98 / 11,000 2015: 10,230.37 / 11,000
    2014 =6703.26 / 11,000 2013 = 4288.51 / 8000 2012 = 1600/5000 2011 = 2579/3000
    MF date was Nov 2041 - now Sept 2022

    • BookWorm
    • By BookWorm 30th Oct 16, 12:39 PM
    • 2,223 Posts
    • 13,672 Thanks
    BookWorm
    Originally posted by muddywhitechicken
    I've not seen that...always happy for more recommendations.. thanks
    • BookWorm
    • By BookWorm 30th Oct 16, 12:40 PM
    • 2,223 Posts
    • 13,672 Thanks
    BookWorm
    Big thank you to MWC, AFK, SSS, RT and MG for stopping in. I very much appreciate it and I'm sorry I've not been around.

    I'm finding life in general very busy and a bit overwhelming at the moment and just don't have the mental capacity (nor time) to be here right now.

    I'm sure I will bounce back but just need to 'batten down' and get through the next few weeks.

    BW x
    • BookWorm
    • By BookWorm 30th Oct 16, 12:41 PM
    • 2,223 Posts
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    BookWorm
    p.s all hugs...dodgy or otherwise ... all gratefully received... and sent right back xx
    • Pushkin
    • By Pushkin 30th Oct 16, 7:00 PM
    • 778 Posts
    • 2,885 Thanks
    Pushkin
    Take care Bookworm - hope to 'see' back here soon. xx
    • mortgage_girl
    • By mortgage_girl 31st Oct 16, 7:17 AM
    • 818 Posts
    • 3,786 Thanks
    mortgage_girl
    You take care BW and make sure you make some time for 'you'.

    Sending you a dodgy hugto see you through

    MGx
    2017: 770 / 11,000
    2016: 4557.98 / 11,000 2015: 10,230.37 / 11,000
    2014 =6703.26 / 11,000 2013 = 4288.51 / 8000 2012 = 1600/5000 2011 = 2579/3000
    MF date was Nov 2041 - now Sept 2022

    • Secret Saving Squirrel
    • By Secret Saving Squirrel 31st Oct 16, 9:30 PM
    • 3,761 Posts
    • 34,841 Thanks
    Secret Saving Squirrel
    Take care of yourself xx
    Paid off mortgage nine years early in 2013. Now picking and choosing our work to fit in with the rest of our lives!
    Still thrifty though, after all these years
    • CathT
    • By CathT 1st Jan 17, 8:30 AM
    • 5,031 Posts
    • 34,356 Thanks
    CathT
    Happy new year bookworm, hope you are feeling less overwhelmed and have managed to find some time to nurture yourself.
    June 2010 121,287
    Feb 2017 83,857
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