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    • BookWorm
    • By BookWorm 3rd Aug 14, 10:08 AM
    • 2,288Posts
    • 13,931Thanks
    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.

    Last edited by BookWorm; 10-01-2015 at 9:14 PM.
Page 61
    • BookWorm
    • By BookWorm 6th May 17, 7:34 PM
    • 2,288 Posts
    • 13,931 Thanks
    Hi Cath

    It's good - about 10 people who try running a farm in Italy to see if they want to make the move permanent. Should be on iplayer

    ETA just looked and it is on iplayer - first episode only available till Thursday though
    Last edited by BookWorm; 06-05-2017 at 9:36 PM.
    • CathT
    • By CathT 7th May 17, 9:04 AM
    • 5,396 Posts
    • 37,078 Thanks
    Thanks BW. Have you read 'the olive farm' by Carol Drinkwater? It's a really good read.
    Dec 2017 -
    part 1 - £79,467
    part 2 - £45,985
    Total - £125,449
    • BookWorm
    • By BookWorm 7th May 17, 10:04 AM
    • 2,288 Posts
    • 13,931 Thanks
    No, I haven't, although have seen it recommended a few times now. Will add it to my list - thanks Cath!
    • BookWorm
    • By BookWorm 7th May 17, 2:46 PM
    • 2,288 Posts
    • 13,931 Thanks
    Another item sold on the Bay £26 OP sent.

    A quiet day pottering at home. I was going to pop out but someone has blocked my drive so I can't get out. I could go and find out where the person is I'm sure, but not really feeling up to the aggro
    • cookie9
    • By cookie9 7th May 17, 3:29 PM
    • 738 Posts
    • 3,649 Thanks
    Good news on your ebay sale but Grrrr! to the person blocking you in.
    MFW 91 op 2014 £410/1000
    MFW 91 op 2015 £4051/4000
    MFW 91 op 2016 £4040/4000
    MFW 91 op 2017 £812/4500
    • mortgage_girl
    • By mortgage_girl 15th Jun 17, 6:37 PM
    • 840 Posts
    • 3,850 Thanks
    Well done on your op. Hope you had a fab time at Harry Potter.

    2017: £6398.46 / £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 April 2022

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