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  • FIRST POST
    • A Frayed Knot
    • By A Frayed Knot 8th Jun 15, 11:34 PM
    • 2,127Posts
    • 9,569Thanks
    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.

    My Motivation Madness;
    I have a simple method to keep me motivated, only thing is to explain I make it sound complicated and only works if you have a sub account as well, but you could adjust to suit yourself.
    • "Always have 0.00 at the end of your mortgage"
    • This way the least/most you will pay is 9p or 9.99
    • On flush days you could go for 00.00 at the end or even 000.00
    I know, I know, I need to get out more Good Luck whatever you decide.
    Last edited by A Frayed Knot; 20-02-2017 at 12:01 PM.
Page 58
    • bexster1975
    • By bexster1975 6th Mar 17, 6:27 PM
    • 1,045 Posts
    • 4,819 Thanks
    bexster1975
    Thanks GG

    I have both of those and a Santander which regular saver rate escapes my memory. Though as my current account rate was HALVED in November with them, I imagine the new regular saver rate is also significantly reduced.

    Bexster
    • gallygirl
    • By gallygirl 6th Mar 17, 8:59 PM
    • 16,429 Posts
    • 107,667 Thanks
    gallygirl
    Thanks GG

    I have both of those and a Santander which regular saver rate escapes my memory. Though as my current account rate was HALVED in November with them, I imagine the new regular saver rate is also significantly reduced.

    Bexster
    Originally posted by bexster1975
    I think it's now 3%, mine is 5% till it matures - this month

    Save
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    Mortgage Balance = £0
    "Do what others won't early in life so you can do what others can't later in life"
    • A Frayed Knot
    • By A Frayed Knot 8th Mar 17, 8:32 AM
    • 2,127 Posts
    • 9,569 Thanks
    A Frayed Knot
    Off work today - again - this time with the lurgy, that is doing its rounds at work, thought I had escaped it, seems not.

    No further forward with the savings accounts and due to feeling awful last night, missed the chance to list loads at the special offer I had on the bay. Another 2 parcels need posting need to make the effort and wrap them.

    So today is sleep plenty and drink plenty, and will hopefully feel better in the next couple of days.

    In the next month or two, I hope to break into the teens
    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
    2017 £2422.71 + Phantom o/ps 2017 -£1367.81 so far
    • A Frayed Knot
    • By A Frayed Knot 10th Mar 17, 8:46 PM
    • 2,127 Posts
    • 9,569 Thanks
    A Frayed Knot
    Back on the mend, so lying about in bed no more, 3 days is quite long enough.

    Well long enough to book flights for a couple of weeks time heard there was a reunion of MFW's

    Got text from opticians saying specs now ready, so will pick them up tomorrow all going well, actually heading off complete opposite direction for shopping but hey ho, things never run smooth.

    Need to check accounts, as big bills coming off today, lets see where I stand. 2 more parcels to post in the morning, so far. Really pleased with 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
    2017 £2422.71 + Phantom o/ps 2017 -£1367.81 so far
    • A Frayed Knot
    • By A Frayed Knot 16th Mar 17, 8:42 PM
    • 2,127 Posts
    • 9,569 Thanks
    A Frayed Knot
    Back into the swing of things so far. All I have done this month is to pay out heavily on all bills so just went the whole hog and booked flights and accommodation for mum and me, bf will drive down and pick us up at airport.

    Now looking for ins for person with medical history, my absolute pet hate - insurances

    Side line going well so far, and keeping busy with parcels for the bay of e.

    Another 2 surveys completed - forgot all about them, as haven't had any the last 2-3 months. Another £6 in the pot.

    Away to learn how to pack a bag with only essentials as its only hand luggage we're taking
    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
    2017 £2422.71 + Phantom o/ps 2017 -£1367.81 so far
    • A Frayed Knot
    • By A Frayed Knot 18th Mar 17, 7:49 AM
    • 2,127 Posts
    • 9,569 Thanks
    A Frayed Knot
    Morning all, bit of a wash out yesterday with rain lashing all day long, so never crossed over the door. Today dry at the moment and have plans to go shopping for a few last minute items for holibags

    Another 3 parcels to post - anything's a bonus, so will trot off to PO first. Have a lovely weekend.
    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
    2017 £2422.71 + Phantom o/ps 2017 -£1367.81 so far
    • A Frayed Knot
    • By A Frayed Knot 19th Mar 17, 9:45 AM
    • 2,127 Posts
    • 9,569 Thanks
    A Frayed Knot
    Good Side of the Coin Yesterday's shopping went well, got great bargains Very Happy. Just made a small o/p of £48.64. Arrive back April, so new month, new targets, although council tax is back and of course - has went up. No surprises there, then.

    Bad side of the Coin ~ What would you/could you have done ??
    An event I saw yesterday has effected me greatly, making me realise just how very, very lucky I am. Actually put a bit of a damper on the day to be honest, as I couldn't stop thinking about how I could help.

    I saw a young man with sleeping bags and covers with a shopping trolley, sitting up in a shop doorway with a sign saying "I am willing to work ~ even for board and lodgings ~ I AM DESPERATE" That hit me with a force 10 gale and my immediate thought was "I wish I could help you somehow" I have 2 spare rooms and felt very, very guilty about that and still do. It's so sad, and wondered what I would do or how I could cope if that was me.

    Reminded me of another similar event, when I met a lady in L1d1's, got talking and ended up walking back with her as we were heading the same way. Turned out her son was in intensive care and she was making the 100 miles journey back and forth every day as she had nowhere to stay. Same thought crossed my mind then, I have 2 spare bedrooms.

    I really think, I need to MKd urgently and get these rooms into some kind of shape. Job for April after week's holiday in the sun (hopefully).



    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
    2017 £2422.71 + Phantom o/ps 2017 -£1367.81 so far
    • A Frayed Knot
    • By A Frayed Knot 5th Apr 17, 9:00 PM
    • 2,127 Posts
    • 9,569 Thanks
    A Frayed Knot
    Well now back from holibags, and had a wonderful time. Weather much better than here and totally different pace of life. Hmmmmm . . . . . dreaming . . . .

    While away mother's day (mum was with me) and so happened to be my birthday as well. Got lots of E's (Ooops - mean Euro's ) So did treat myself.

    Back to the old grindstone, or so I thought, bosses were looking for a candidate for another sub division for a couple of months, so I took it on, (or maybe that's - they took me on ) No more pennies but I'm sure it will do my BP the world of good.

    Just made an o/p of £271.94, so still on target for the moment. Really need to get myself a good spreadsheet as I'm sure money seems to be slipping through a net or two

    Not been posting much as little sideline taking up quite a bit of my time atm.
    That's all the news for now but as they say - watch this space.

    Oh, and I won a box of chocolates from Hotel Chocolat
    Last edited by A Frayed Knot; 05-04-2017 at 9:10 PM.
    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
    2017 £2422.71 + Phantom o/ps 2017 -£1367.81 so far
    • BookWorm
    • By BookWorm 5th Apr 17, 9:23 PM
    • 2,284 Posts
    • 13,914 Thanks
    BookWorm
    Glad you enjoyed your hols AFK and well done on your choccie win
    • Moneyfordreams
    • By Moneyfordreams 5th Apr 17, 11:14 PM
    • 898 Posts
    • 4,350 Thanks
    Moneyfordreams
    Good luck with your new adventures
    Mortgage Feb '13 £200000, end 2038. Aiming for before March 2025 (crunched to 2034)
    January 16 £182800 : minimum £360 OP but needs to be £600 to achieve 2025
    Current mortgage £159800
    h@lifax CC £4500 0% until May 2018.. will pay minimum for now, slow stooze
    xmas, chairs, hoover, computer and holiday [STRIKE}clothes[STRIKE] DD1 cc
    • A Frayed Knot
    • By A Frayed Knot 7th Apr 17, 8:28 PM
    • 2,127 Posts
    • 9,569 Thanks
    A Frayed Knot
    Well, that's week 1 over in my secondment, and its went well so far. A little on the Q (we never say that word in work) side just because as soon as mentioned the proverbial hits the fan, but the school holidays has something to do with it.

    Dropped my camera whilst taking photos for the bay, so that has forced me to work out how to load photos with my tablet or phone - just not up on the technicalities of it all its either that or buy a new camera, and so far 3 parcels to post tomorrow.

    Not sure if I mentioned a little cheque arrived being bonus from some shares. So £26.03 into the o/p pot.

    Have started on the household chores early this weekend and kitchen all tidy and 1st lot of washing done and hung up. Tomorrow's schedule is changing bed, 2nd washing on and my bedroom windows to be done, and i'm sure there will be more I will add as I go along.

    I'm also in the mood for some more MK'd as coming back from holiday the amount of summer "stuff" I have is embarrassing. Will bring an empty case out and fill with my favourites, the rest can go.
    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
    2017 £2422.71 + Phantom o/ps 2017 -£1367.81 so far
    • A Frayed Knot
    • By A Frayed Knot 9th Apr 17, 9:48 AM
    • 2,127 Posts
    • 9,569 Thanks
    A Frayed Knot
    Oh, how I wish I had a few days off right now (not counting the weekend, of course) the sun is shinning and I am so in the mood for clearing out - just about everything.

    Washing finished and out on line, work blouses soaking in sink before going in machine, lets hope they come out like new, must order some more.

    SAGA continues - received bill for works carried out which supposedly finished in Dec, so nearly 10 months since repair reported. Are they in for a surprise - starts off with -

    Remove furniture and floor coverings and put in skip - can anyone tell me, what furniture and floor coverings you have on the outside roughcast above your front window ?? that's going to be an interesting conversation, and we never had a skip. Grrrrr. Anyone know a good lawyer.

    Enjoy your day and hope the sun is shinning wherever you are.
    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
    2017 £2422.71 + Phantom o/ps 2017 -£1367.81 so far
    • bexster1975
    • By bexster1975 9th Apr 17, 12:28 PM
    • 1,045 Posts
    • 4,819 Thanks
    bexster1975
    Hello AFK

    Sun is indeed shining here. I don't think I will help if I tell you I do have a few days ( 2 weeks) off just now. On a note of solidarity re: your saga, I had a rude letter from my leaseholders the other week telling me I hadn't paid service charge of £534! When I called to say, no I hadn't, I'd paid £545 as requested - I'll have my refund now cheers. They promptly told me it was from 2015! Hilarious! Cue snotty emails from me sending proof of payment from said date, and asking if I could be of any further administrative assistance to them as it must be cumbersome to keep up with one bill a year to this address! Heard no more from them! utter morons the lot of them!

    I am in the decluttering mood too. I have a friend coming to stay for Easter so have been changing the bed ( once I could get to it ahem!)

    Santander regular saver has returned to 5% this week so as my old one ended, I have just set up a new one.

    Hope all else goes well with you. How was your holiday?

    Bexster
    • A Frayed Knot
    • By A Frayed Knot 14th Apr 17, 9:26 AM
    • 2,127 Posts
    • 9,569 Thanks
    A Frayed Knot
    Bexster - just love it when their error becomes in your favour, bet you never received a refund, but at least you'd be grinning like a Cheshire cat when you asked them for refund

    2nd week in secondment finished and all is well, huge Easter egg delivery arrived for the kids.

    Stopped for a/l yesterday for at least 10 days have the option to make it 18 days but was still up bright and early this morning - again, and was lightly raining, but sun is now out but a little cloudy. Choices were - away for the weekend or stay and seriously declutter (which is much needed) still in a bit of a dither about that but swinging towards the declutter bit as will feel so much better once started/done.

    Santander - will look into that one, think mentioned this one as well. Need to seriously have some accounts with lined up with good interest rates, unless anyone knows of an account with good interest rates that you can put a lump sum into.

    Holiday was lovely, nice to have a chilled out time, weather good and view fantastic, but as usual passed all too quickly Hard to leave, lifestyle much healthier and stress free for definite.

    Just completed another p/cone survey thought they had forgot all about me - its been a while.

    and its taken me ages to type this as I got my nails done (longer) for my holidays and they are lasting well, (Sticky on ones £1 from Prim@rk) but need to come off as can't work with them no doubt once I start the chores I'll be back to natural nails.
    Happy Easter Weekend Everyone
    Now, where do I start . . . .
    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
    2017 £2422.71 + Phantom o/ps 2017 -£1367.81 so far
    • A Frayed Knot
    • By A Frayed Knot 18th Apr 17, 9:30 PM
    • 2,127 Posts
    • 9,569 Thanks
    A Frayed Knot
    Well, Easter over and eggs all and I have been working in the house non stop. I can see I'm getting there but not yet Brother gutting his kitchen and needed a hand - so been there for a few hours one night and all afternoon the next day, as if I don't have enough of my own to do. However come payback time - I need some trees cut down

    Been thinking about a new target/goal, so hopefully will have a new one revealed by the end of the week allbeit an ambitious one.

    So far this month have spent under £20 on food shopping and the last 5 days have been nsd having typed that - I have just looked to see when payday is - and - its next week so should be able to manage what's in my purse till then fingers crossed.

    Not much else happening, although a few treasures are leaving the house via ebay. Happy days. Not got round to MK'd my summer items/clothing yet,for the CS but high on my "to do's" list.

    Need to try and catch up with diaries some time as feel I have missed what's going on in the MFW world.
    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
    2017 £2422.71 + Phantom o/ps 2017 -£1367.81 so far
    • A Frayed Knot
    • By A Frayed Knot 18th Apr 17, 10:30 PM
    • 2,127 Posts
    • 9,569 Thanks
    A Frayed Knot
    Just took a moment of madness and o/p £453.78
    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
    2017 £2422.71 + Phantom o/ps 2017 -£1367.81 so far
    • allmannerofthings
    • By allmannerofthings 18th Apr 17, 10:35 PM
    • 90 Posts
    • 520 Thanks
    allmannerofthings
    Well done! I can't wait to start overpaying mine and the first payment hasn't even come out yet
    Mortgage March 2017 borrowed £115,000. Balance September 2017 £107867.50
    Overpayments 2017 £3630/Target £5000
    May £1710 June £0 July £900 Aug £505 Sept £515 Oct £ Nov £ Dec £
    • A Frayed Knot
    • By A Frayed Knot 18th Apr 17, 10:47 PM
    • 2,127 Posts
    • 9,569 Thanks
    A Frayed Knot
    Hello and welcome,

    Well your in the right frame of mind and a great start if your 1st payment has not even come off yet. It is so addictive, so good luck and will be looking out for your posts in your shiny new diary.


    My mad Mantra method (in my signature) of has kept me focused and hardly missed the small o/p but as everyone says - they all add up.
    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
    2017 £2422.71 + Phantom o/ps 2017 -£1367.81 so far
    • A Frayed Knot
    • By A Frayed Knot 21st Apr 17, 9:05 AM
    • 2,127 Posts
    • 9,569 Thanks
    A Frayed Knot
    Another £17 spent at A1di's, bought XL of chicken fillets and low fat mince. What was I thinking !!Now have to find dishes/space and spend time cooking (not my favourite) when i'm pushed for time.

    Heading out today and will be opening at least one regular saver, thanks Bexster

    Bought lottery ticket for last week and only checked it last night, Would you believe it only gone and won not life changing amounts, if only, however £13.20 coming my way. Just for fun, I'm going to see how far I can get with this amount. Wheeling and dealing

    Must dash now, as another 6 parcels to be wrapped and posted. Lots of lovely treasures leaving the house today
    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
    2017 £2422.71 + Phantom o/ps 2017 -£1367.81 so far
    • A Frayed Knot
    • By A Frayed Knot 21st Apr 17, 9:25 PM
    • 2,127 Posts
    • 9,569 Thanks
    A Frayed Knot
    So, hows the day gone ?? you ask.

    Well, off I trot to the big spanish bank, with the mission of opening a regular saver with mum in tow.

    First my mum, opens one sorted. Next please - me - do you have to have an account with yourselves - yes - a current account. Well I have 2 accounts with them, but not 1 of them is a current account - so leave empty handed Lets try round the corner - yes - this is even better for me than the spanish one. Will open online - just need to read all the facts first.

    Then trot on into the bank with my mortgage. Can I help you - hope so, told them I would like an actual balance of mortgage as at 1st Jan, so I know exactly how much I can overpay. Oh, you need to do that online or by phone - tried that, I said, didn't seem to know what I was talking about Well they are the experts, that's worrying said I. Again left empty handed

    Know i'm being pernickety, but o/p them by £1 and I'm penalised. What most folk don't know, or at least, I never though is, you only get to o/p on the account and sub account that you are charged interest on, not the figure that has no interest added - this can be paid off at any time

    And I need to move my ambitious target announcement to the end of the following week now, or even the week after that - knowing how fast the legal eagles move

    Collected my EuroMillions winnings. So a good day had by all.
    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
    2017 £2422.71 + Phantom o/ps 2017 -£1367.81 so far
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