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  • FIRST POST
    • A Frayed Knot
    • By A Frayed Knot 8th Jun 15, 11:34 PM
    • 1,742Posts
    • 7,993Thanks
    A Frayed Knot
    Was Mortgage Free until 52!!!
    • #1
    • 8th Jun 15, 11:34 PM
    Was Mortgage Free until 52!!! 8th Jun 15 at 11:34 PM
    I was a lurker, but inspired by this thread to start my own diary and although my figures are positively small fry to some - its still my mortgage.

    A bit about me, took the plunge and bought a house age 50 plus by myself, everyone asked "Are you mad?" But thought - I can do this.

    Bought at auction, so got a bit of a bargain (the only way I could afford a mortgage) and had what I would call (in my terms) a nice deposit. Took out an 80% mortgage, and lenders would only give me an 18 year term, 2 years fixed at 4.5%, so in my eyes I have already knocked 7 years off my mortgage - how's that for positive thinking?

    I'm now 3 years down the line and have already made the classic mistake, did not renew my fixed term after the 2 years (and still haven't) as it reverted to 3.99% which was lower than I was paying and on making my first large overpayment, they reduced my monthly payments Little did I know what I know now. So its time to get my mortgage in order.

    I have about a years mortgage savings - and about 3 years mortgage payments out on loan at the moment.

    I pay a minimal 45.00 into an isa every month, but was thinking of adding this to my monthly mortgage payments when I remortgage thus reducing the years even further. What do you think?

    I work full time and overtime is available for the moment although I never accept, as I go in early and stay late - could class that as overtime,

    As you can tell, I'm a bit obsessed with overpayments, but well - you can see my point - at my age, want to be "mortgage free" asap.

    Please help.
    Last edited by A Frayed Knot; 02-01-2016 at 12:00 PM.
Page 52
    • tattycath
    • By tattycath 11th Oct 16, 8:50 PM
    • 6,643 Posts
    • 35,130 Thanks
    tattycath
    Well done with the gardening at the weekend.
    Well done managing to get a free bus. I caught a bus today and it was not free. DD did treat me to a hot chocolate though ( as the reason for catching the bus was to meet her).
    GE 36 *MFD December 2027-target 2020
    MFIT-T4 No 106
    EF £100/£2000 - SSF £350
    Mortgage : £5,935/£10,000
    November: £118.00/£200
    November £77.00/£250
    Savercard Christmas savings £150
    19/3/16 = 176lb
    • A Frayed Knot
    • By A Frayed Knot 11th Oct 16, 8:52 PM
    • 1,742 Posts
    • 7,993 Thanks
    A Frayed Knot
    It was hard work, but well worth it. Free bus was because ticket machine wasn't working, although did not get any hot chocolate, hope you enjoyed it.
    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
    • shangaijimmy
    • By shangaijimmy 11th Oct 16, 9:26 PM
    • 1,814 Posts
    • 7,526 Thanks
    shangaijimmy
    I need to do the winter garden tidy and really should capitalise on the dry weather before it gets to November. You have inspired/reminded me to put it on the job list before our hols next Friday.
    MFW: Original June 2036 // Aim March 2025 - 21//120 payments // Avg Daily Interest £6.19
    Aug 2009: £163,051 // Aug 2012: £146,818 // Aug 2015: £131,010 Current: £113,533.22
    MFiT-T4 #8 - 17.63% of £41,000 // 2016 MFW #2 - £6,961.06/£7,200
    • A Frayed Knot
    • By A Frayed Knot 11th Oct 16, 9:31 PM
    • 1,742 Posts
    • 7,993 Thanks
    A Frayed Knot
    Took advantage of the dry weather as we normally get terrible weather a week or two after the hurricanes hit.

    Schools stop here this Friday, off anywhere nice, hot and sunny? have a lovely time where ever.
    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
    • giblet1979
    • By giblet1979 11th Oct 16, 9:32 PM
    • 846 Posts
    • 3,398 Thanks
    giblet1979
    Sounds so frustrating AFK - I can't imagine. I can only liken it to my standoff with Scottish Power a couple of years ago. I ended up in tears of frustration on more than one occasion, and eventually shouted at them that I woudn't use their company again if they gave me the power for free. I almost meant it too
    I did switch my folks (big consumers) away from them also. That showed them (!)
    Hope things improve for you xx
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

    Work overpayment and home improvement loan paid back (£19200)


    • mrsp1987
    • By mrsp1987 11th Oct 16, 9:37 PM
    • 781 Posts
    • 3,760 Thanks
    mrsp1987
    75 days today!
    Mortgage April 2011: £108,499 30 yr term Current Mortgage £96,211.87 20 yrs 10 months left
    O/P Fund: £2,336.81/£1,000
    Tilly Tidy #11: I've completely lost count!!
    MFiT T4 #67 - Reduce mortgage from £99,310.76 to £80,000. Currently £95,166.53
    • A Frayed Knot
    • By A Frayed Knot 11th Oct 16, 9:43 PM
    • 1,742 Posts
    • 7,993 Thanks
    A Frayed Knot
    Hi Giblet - hopefully as soon as this is all resolved, I can talk my neighbours into dumping them, we each pay them£££ each year, only to get this hassle. In 5 days time it will be 5 l o n g months since repair required reported.


    Hi Mrsp - 75 days, well that makes me feel better
    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
    • shangaijimmy
    • By shangaijimmy 11th Oct 16, 9:44 PM
    • 1,814 Posts
    • 7,526 Thanks
    shangaijimmy
    Egypt. All inclusive, water park on our hotel. I will be a pig and stuff myself as full as possible!!!!!!
    MFW: Original June 2036 // Aim March 2025 - 21//120 payments // Avg Daily Interest £6.19
    Aug 2009: £163,051 // Aug 2012: £146,818 // Aug 2015: £131,010 Current: £113,533.22
    MFiT-T4 #8 - 17.63% of £41,000 // 2016 MFW #2 - £6,961.06/£7,200
    • A Frayed Knot
    • By A Frayed Knot 11th Oct 16, 9:48 PM
    • 1,742 Posts
    • 7,993 Thanks
    A Frayed Knot
    Enjoy, well deserved break.
    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
    • A Frayed Knot
    • By A Frayed Knot 12th Oct 16, 7:42 AM
    • 1,742 Posts
    • 7,993 Thanks
    A Frayed Knot
    Couldn't sleep, so this morning, phoned the call centre dealing with repairs. They confirmed they have received 2 consents but need 3 for repair to go ahead.
    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
    • A Frayed Knot
    • By A Frayed Knot 13th Oct 16, 7:33 AM
    • 1,742 Posts
    • 7,993 Thanks
    A Frayed Knot
    Just o/p £3.78 to make my mortgage account and 2 sub accounts all either 00.00 or 0.00 at the end. (Even o/p 13p to sub account that does not carry any interest),

    Best I can do, with the o/p limit, until January 1st.
    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
    • atypicalblonde
    • By atypicalblonde 13th Oct 16, 11:11 AM
    • 1,616 Posts
    • 8,506 Thanks
    atypicalblonde
    Well done on the OPs, you inspire me to tidy up my accounts daily now xx
    MFW
    Mortgage 8.2.15 - £171,064.64 Mortgage 3.11.16 - £139,251.40
    • A Frayed Knot
    • By A Frayed Knot 13th Oct 16, 5:52 PM
    • 1,742 Posts
    • 7,993 Thanks
    A Frayed Knot
    Well done on the OPs, you inspire me to tidy up my accounts daily now xx
    Originally posted by atypicalblonde

    Keep up the good work, it will be well worth it. I don't do daily, as my mortgage statement doesn't change that often. But come January, who knows
    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
    • giblet1979
    • By giblet1979 13th Oct 16, 11:28 PM
    • 846 Posts
    • 3,398 Thanks
    giblet1979
    5 months is ridiculous.....��

    At least with the 00's in alignment, most else can feel right with the world x
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

    Work overpayment and home improvement loan paid back (£19200)


    • A Frayed Knot
    • By A Frayed Knot 14th Oct 16, 8:04 AM
    • 1,742 Posts
    • 7,993 Thanks
    A Frayed Knot
    A little further on but making no comment as don't want to jinx anything,

    Even with my knotty knots (that's 00.00's to you ) I'm restricted cause only have around £80 to play with for the next 2 payments to make it all even If I o/p that just now, would not be able to have 00.00 for the next 2 payments. Will be interesting to see what the year end mortgage is and what I have left of my allowance, no way will it all balance out, but can't wait to find out how close I will be.
    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
    • A Frayed Knot
    • By A Frayed Knot 15th Oct 16, 10:34 AM
    • 1,742 Posts
    • 7,993 Thanks
    A Frayed Knot
    Hoping things will get better as the day goes on. Yesterday spent a little more than I planned, then lost some money ££, felt everything was a rush, popped into local @ldi's and spent £15 on a top up shop. Returned home to find one of my eb@y sales, had to pay postage, thank goodness I have proof of postage, so refunded her monies, and then this morning a parcel has been returned stating "incomplete address" which I posted to confirmed address in paypal.


    As i'm writing this, I'm starting to laugh, dare to ask - can anything else happen, talk about a run of *** luck.


    On a better note, a little further forward with "saga" final bill should be £££ less than thought at final stages, however further events may occur, so will wait with baited breath.


    Going over finances as I feel I have spent, spent, spent this last fortnight, however not just as bad as first thought, and I do have £££ in reserve at P@yp@l, to cushion the blow-out. Need to be careful the next fortnight till payday, and I should have extra £££ in it as I done some o/t in Sept.



    Today is sort, tidy, organise day, and if any time left over I will photo and list the many, many items I no longer want/need. Need to get @*** in gear and get moving. Wish me luck.
    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
    • giblet1979
    • By giblet1979 15th Oct 16, 1:09 PM
    • 846 Posts
    • 3,398 Thanks
    giblet1979
    Good luck - I'm staying in bed, lol x
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

    Work overpayment and home improvement loan paid back (£19200)


    • A Frayed Knot
    • By A Frayed Knot 15th Oct 16, 1:52 PM
    • 1,742 Posts
    • 7,993 Thanks
    A Frayed Knot
    Good luck - I'm staying in bed, lol x
    Originally posted by giblet1979

    Maybe I should have as well, only thing is I would need to stay there for at least a week, to get over this run of *** luck


    Hope you are feeling better soon, shocked to read you ended up at a&e, must have been worrying for you.
    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
    • giblet1979
    • By giblet1979 15th Oct 16, 2:36 PM
    • 846 Posts
    • 3,398 Thanks
    giblet1979
    Nah I'm fine thanks...just a precaution. Really hope your luck improves xx
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

    Work overpayment and home improvement loan paid back (£19200)


    • A Frayed Knot
    • By A Frayed Knot 16th Oct 16, 9:54 AM
    • 1,742 Posts
    • 7,993 Thanks
    A Frayed Knot
    Day 2 of sort, tidy and organise day Managed so far - at a very leisurely pace

    Bathroom cleaned - as in a spring clean from top to bottom
    Stairs and front door - cleaned
    Hall & Bedroom - removed a few tiny marks on carpets, hoover and dusted
    Wardrobe - another few items removed, 2 prs shoes, 2 long cardigans and 3 uniform tops
    Bins emptied

    Today I have, so far
    changed bed
    washing on
    done all ironing
    and tried to make head or tail of my elect/gas bill which has just arrived in my emails - 2 of them, one dated the day after each. I did get meters read on Friday, however as there was an adjustment, they went back to April, what for? who knows, need to sit down and work it all out. However I can tell you I have used 1 digit of gas (well, I do have to wash dishes, now and again ) and they have charged me 177 days standing charge - I don't think so How many days from July to Oct, well it's NOT 177 !!! even I know that.

    Still to do; Living Room and Kitchen Pantry, that should take me to lunch 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
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