Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • BookWorm
    • By BookWorm 3rd Aug 14, 10:08 AM
    • 2,278Posts
    • 13,905Thanks
    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 61
    • BookWorm
    • By BookWorm 6th May 17, 7:34 PM
    • 2,278 Posts
    • 13,905 Thanks
    BookWorm
    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
    • 5,260 Posts
    • 36,052 Thanks
    CathT
    Thanks BW. Have you read 'the olive farm' by Carol Drinkwater? It's a really good read.
    August 2017 -
    part 1 - £81,002
    part 2 - £46,583
    Total - £127,585
    • BookWorm
    • By BookWorm 7th May 17, 10:04 AM
    • 2,278 Posts
    • 13,905 Thanks
    BookWorm
    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
    • 2,278 Posts
    • 13,905 Thanks
    BookWorm
    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
    • 726 Posts
    • 3,603 Thanks
    cookie9
    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
    • 828 Posts
    • 3,813 Thanks
    mortgage_girl
    Well done on your op. Hope you had a fab time at Harry Potter.

    MGx
    2017: £5083.46 / £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

Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

160Posts Today

1,518Users online

Martin's Twitter