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  • FIRST POST
    • Kittenkirst
    • By Kittenkirst 5th Feb 16, 10:35 AM
    • 1,510Posts
    • 7,682Thanks
    Kittenkirst
    Getting a mortgage and then becoming mortgage-free!
    • #1
    • 5th Feb 16, 10:35 AM
    Getting a mortgage and then becoming mortgage-free! 5th Feb 16 at 10:35 AM
    Hi all!
    So from my title you may have guessed I don't yet have a mortgage, however I am hoping that will all change within the next few weeks.
    I will then start on overpaying the mortgage and really penny pinching to try and reduce it down as much as possible!

    I'm hoping this is alright to start my diary in here? :-)

    The story so far, my lovely girlfriend and I have been discussing getting a place together for some time. We started looking at houses (al very small and far from her parents- which is a no-no, we want to be close to them to visit regularly). Last weekend we went to see a new build development and fell in love with a house- less than 2 miles from her parents, perfect size for the two of us and within our budget (from getting mortgage in principle information and confirming monthly payments were well within our budgets).

    Sooooo we took her parents round for their seal of approval, spoke with an agent we know through the family about pertinent questions to ask, did lots of number crunching and then placed a reservation.....

    ....so we've now got paperwork from solicitors re the conveyancing etc and paperwork from the mortgage advisors to sort out this weekend.
    We have re-jogged our budget to ensure we had the deposit in savings by end of Feb (we thought we'd have a few months before we found anywhere) so are ready to almost hand over £18500 :O

    I have agreed to move into her parents house and pay rent in mid March to prevent paying rent, bills and food (will save an extra £500 a month) so we should be in a good position for when the house is ready September/October time!

    Does anyone have any hints or tips so far?

    Our brokers/solicitors are ones recommended by family who've used them and really recommend them and we've sense checked the rates the solicitors charge to ensure its competitive.
    Emergency savings- £3750.96 /£6000
    Mortgage Oct '16- £170.995 LTV- 90% end date Nov 2041
    2016 OPs £255.50/£150
    2017 MFW #20 - OP £1601.62/ £2150. 74%
    Jan- £68.21, Feb- £306.67, March- £272.01 April-£324.05 May £120.33 June £279.15 July: £172.36 Aug: £61.52
Page 36
    • Kittenkirst
    • By Kittenkirst 6th Jun 17, 10:53 AM
    • 1,510 Posts
    • 7,682 Thanks
    Kittenkirst
    Finally back to work and already taking solace in my coffee break!

    Called mortgage company and the interest per day is now £13.67 so will amend my round up post to add it in it's good to see it coming down slowly.

    We sorted through piles upon piles of paperwork yesterday and we now have two Carrier bags full to shred soon and a few piles that need tidying and filing in a nice folder or something. They are currently stashed under the sofa (storage sofa) until we work out how to store it all.

    It also meant I found my pension paperwork from last June- it was sat at £10,293.60 so I've updated my app and spreadsheet to show this. I put in 4% a month and the company puts on 8% so it's going up around £300 a month at the moment so I'm happy with this.

    Checked the student loans website and up to the end of March the balance was a very surprisingly small £896, which with Aprils big contribution (thanks to the annual bonus) of £330 and Mays of £93 means it should only be around £450!

    I never thought I'd see the day that I had hardly any student loans or have a pension plan!

    Right back on with work, coffee breaks don't last forever unfortunately!
    Emergency savings- £3750.96 /£6000
    Mortgage Oct '16- £170.995 LTV- 90% end date Nov 2041
    2016 OPs £255.50/£150
    2017 MFW #20 - OP £1601.62/ £2150. 74%
    Jan- £68.21, Feb- £306.67, March- £272.01 April-£324.05 May £120.33 June £279.15 July: £172.36 Aug: £61.52
    • themadvix
    • By themadvix 6th Jun 17, 11:23 AM
    • 951 Posts
    • 4,894 Thanks
    themadvix
    That's great news about the student loan - it'll soon be gone!
    OPs 2017 = £2603/£10000
    S&S ISA = £300/£600
    OPs made 2016 = £6142.12
    Starting balance 2012: £132000; balance June 2017: £99,974
    MFW2017 no. 38
    • Needhelpsaving
    • By Needhelpsaving 6th Jun 17, 11:45 AM
    • 578 Posts
    • 2,489 Thanks
    Needhelpsaving
    Great news on both the student loan and mortgage- that's a huge step towards your future financial security x
    Target 1 - Emergency Fund Currently £271.21/£3000

    Target 2 - Op Mortgage by £4000 by 31/12/2017 Currently £2500/£4000
    • Kittenkirst
    • By Kittenkirst 6th Jun 17, 4:52 PM
    • 1,510 Posts
    • 7,682 Thanks
    Kittenkirst
    Fingers crossed that it'll be gone by the end of the year!

    Weather here has been truly awful, so much so that I'm putting off driving to the jewellery class (it's about 45mins each way along the motorway and I don't fancy taking my car out in the weather).

    Think I'll make an early dinner and do some beading as the gf is away with work for the next two nights.

    Weather is not looking promising for download this weekend. Think I need to get some sun dances going!
    Emergency savings- £3750.96 /£6000
    Mortgage Oct '16- £170.995 LTV- 90% end date Nov 2041
    2016 OPs £255.50/£150
    2017 MFW #20 - OP £1601.62/ £2150. 74%
    Jan- £68.21, Feb- £306.67, March- £272.01 April-£324.05 May £120.33 June £279.15 July: £172.36 Aug: £61.52
    • Kittenkirst
    • By Kittenkirst 6th Jun 17, 8:28 PM
    • 1,510 Posts
    • 7,682 Thanks
    Kittenkirst
    On a use up mission today- dinner was lamb in gravy from the freezer topped with some leftover pastry from last week chopped a large spud and had potatoe wedges & brocolli with it.

    Dessert was naughtily a peach cobbler using the remaining tinned peaches from last week. Scrumptious!
    Emergency savings- £3750.96 /£6000
    Mortgage Oct '16- £170.995 LTV- 90% end date Nov 2041
    2016 OPs £255.50/£150
    2017 MFW #20 - OP £1601.62/ £2150. 74%
    Jan- £68.21, Feb- £306.67, March- £272.01 April-£324.05 May £120.33 June £279.15 July: £172.36 Aug: £61.52
    • Kittenkirst
    • By Kittenkirst 7th Jun 17, 4:10 PM
    • 1,510 Posts
    • 7,682 Thanks
    Kittenkirst
    I'm currently doing a little happy dance- having given our gas and elec readings monthly since we moved in, we are again still in a large credit following our most recent bill. I therefore requested £150 refund as we are going into hotter months so usage will reduce so we do not need such a huge credit.

    They've emailed to confirm it will clear in ten working days
    They need to amend our monthly DD as our usage is around £30 a month on average but they're taking £70. I'm happy to build up a buffer but £150 credit before they take this months DD is a bit much!

    Have worked from home again today so no petrol used, and still using up from stores as had porridge for brekkie followed by potato scone with an egg for lunch.

    Dinner I'm debating making either a butternut squash ravioli or risotto as the butternut looks a bit sorry for itself. Will walk to gf's parents shortly to see how they are and may even borrow neighbours lawn mower to mow the garden. It'll then need raking but will mean we can put some lawn seed & lawn feed down....maybe that's a weekend job!

    The boys have been snuggly all day today, curled up next to me whilst I've been working which is lovely
    Emergency savings- £3750.96 /£6000
    Mortgage Oct '16- £170.995 LTV- 90% end date Nov 2041
    2016 OPs £255.50/£150
    2017 MFW #20 - OP £1601.62/ £2150. 74%
    Jan- £68.21, Feb- £306.67, March- £272.01 April-£324.05 May £120.33 June £279.15 July: £172.36 Aug: £61.52
    • themadvix
    • By themadvix 8th Jun 17, 9:35 AM
    • 951 Posts
    • 4,894 Thanks
    themadvix
    Great figures for gas and electricity use - I wish ours were so low (even though we're pretty good about switching stuff off and freezing in winter), I guess that's a benefit of a brand new house.

    You've reminded me that there's half a butternut in our fridge... whoops!
    OPs 2017 = £2603/£10000
    S&S ISA = £300/£600
    OPs made 2016 = £6142.12
    Starting balance 2012: £132000; balance June 2017: £99,974
    MFW2017 no. 38
    • Kittenkirst
    • By Kittenkirst 15th Jun 17, 4:05 PM
    • 1,510 Posts
    • 7,682 Thanks
    Kittenkirst
    It's been a long & very fun week.
    In non MSE news I blew the Download festival budget and had a fantastic time dancing with my bestie, Luke, in the sunshine!

    In MSE news the refund has been received from a first Utility so £150 back into the bills account. Pinecone has credited £3 which has been overpaid to the mortgage and as its payday the standard £89.80 round up overpayment has been made. Making OPs total £171.31 which includes
    Some Tilly tidies too.

    I've also opened a LISA and bunged £10 in for the moment, I then opened one for gf and popped £10 in there as she only had until tomorrow to open it as it's her 40th on Sunday so I've been busy plotting lovely stuff for her; I hope she loves it!
    Emergency savings- £3750.96 /£6000
    Mortgage Oct '16- £170.995 LTV- 90% end date Nov 2041
    2016 OPs £255.50/£150
    2017 MFW #20 - OP £1601.62/ £2150. 74%
    Jan- £68.21, Feb- £306.67, March- £272.01 April-£324.05 May £120.33 June £279.15 July: £172.36 Aug: £61.52
    • chumpy45
    • By chumpy45 15th Jun 17, 8:46 PM
    • 315 Posts
    • 1,356 Thanks
    chumpy45
    Great news on the gas and electricity front - what a lovely bonus. Always good to receive a refund
    Starting Mortgage 01.08.08 £171,209.24. Mortgage as at 01.09.15 - £54,780.04; 01.11.15 £49,577.04;01.03.16 £45,799.32; 01.08.16 £42,418.93; 01.10.16 £40,119.5 01.02.17 £36,584.00; 01.04.17 £34,694.71 09.06.17 £32,828.89 MFW Target date Sept 2017;
    • CathT
    • By CathT 15th Jun 17, 9:36 PM
    • 5,260 Posts
    • 36,046 Thanks
    CathT
    Great news your student loan is almost cleared. Hope you both enjoy the birthday celebrations, weather is going to be glorious!
    August 2017 -
    part 1 - £81,002
    part 2 - £46,583
    Total - £127,585
    • Kittenkirst
    • By Kittenkirst 17th Jun 17, 5:45 PM
    • 1,510 Posts
    • 7,682 Thanks
    Kittenkirst
    Hi all,
    Time for a slightly longer post.

    Gf's birthday is tomorrow so I've got her a hot air balloon ride which we'll do later in the year: will book a hotel and make a weekend of it. I've then filed our two f&m hampers with some champers, plastic glasses and lots of delicious snacks.

    I've ordered banners, confetti balloons and some hot air ballloon fairy lights which I'll set up tonight when she goes to bed, with some hot Air balloon confetti and streamers.

    I also got her a small Sterling silver bracelet to match the necklace I bought her a few years ago for Christmas. I've budgeted for all these spends as I knew being her 40th I'd want to make it decimal. This has meant the savings has dropped but I'm not worrying.

    Pay day was this week so my first SIP contribution of £50 went out, feels good to have spread the savings out across a few platforms.

    £20 being paid into the joint acct tomorrow from the change hat which will swiftly be overpaid and another Pinecone survey completed just awaiting the money hitting Paypal so additional £23 OP will be made this week

    Off to London for the London eye and dinner with gf's family which should be lovely although the three hour drive there in the heat might be a bit sticky!!

    Weekly shop done today at T*scos and was surprised how much it came to; think I'm getting used to L*dl/aldi prices! £27 spent and not that much in the trolley; making Kung pao chicken and greens tonight from scratch (one of our favourites) and bacon bought for bacon butties in the morning before the drive which I think chicken and bacon alone ways £7.50 (two chicken breasts left over for another meal at least!)

    A further 91 paid to student loan on payday (taken out of salary) so that's nicely reducing too....it shall be gone soon and that's another £91 (minus tax) that can be thrown at savings or the mortgage hurrah!
    Emergency savings- £3750.96 /£6000
    Mortgage Oct '16- £170.995 LTV- 90% end date Nov 2041
    2016 OPs £255.50/£150
    2017 MFW #20 - OP £1601.62/ £2150. 74%
    Jan- £68.21, Feb- £306.67, March- £272.01 April-£324.05 May £120.33 June £279.15 July: £172.36 Aug: £61.52
    • Elephantchunks
    • By Elephantchunks 18th Jun 17, 2:13 PM
    • 108 Posts
    • 574 Thanks
    Elephantchunks
    Ace diary. Loving the positivity!
    My diary is a bit stressy at the moment so when I move house I may need to start a more positive one.
    The gifts for your gf sound really fun and thoughtful. Hope you're both having a fab day!
    August Monthly Challenge: Magic up £89.65/£164.
    August £100 Weekly Challenge: Week 2 £110/£100
    August £100 Weekly Challenge: Week 1 £99.91/£100

    Save before we move: End of July £2180/£3010
    Save before we move: End of June £1447/£2380
    Save before we move: End of May £975/£2380
    • newgirly
    • By newgirly 18th Jun 17, 3:33 PM
    • 5,717 Posts
    • 39,176 Thanks
    newgirly
    Hope the celebrations are going well
    MFW 21
    Target for 2017 £38,545 / £14,264 paid so far

    Mortgage £48,846 4 years 9 months left. Total owed £66,122 planning to clear in 24 months
    WW target - 29.5 lb start date 11/5/17 so far 10.5lb lost.
    • PrincessLou
    • By PrincessLou 19th Jun 17, 1:58 PM
    • 500 Posts
    • 1,910 Thanks
    PrincessLou
    The birthday treats and decorations sound lovely and so well thought out Hope you all have the most wonderful time
    Mortgage - £105,500
    • Kittenkirst
    • By Kittenkirst 20th Jun 17, 11:17 AM
    • 1,510 Posts
    • 7,682 Thanks
    Kittenkirst
    Thanks for all the well wishes ElephantChunks, Newgirly & Princess Lou!
    The birthday went well, she loved the presents and we had a great day in London.
    Her bro & sis in law (& nephews) didn't come to the London eye in the end, but I hadn't realized gf's parents had never seen that part Of London so it was lovely showing them around and they had a great day too.

    Gf's present from brother was a and cookery course for two at he Raymond Blanc cookery school in Oxfordshire. What a thoughtful gift and now means we have two weekends away to plan (one for the hot air ballooning and one for the cookery course). Good news is gf has now come around to he idea of airbnb as a supplier at work was raving about how great she has found it...definitely a step in the right direction as she only really likes to stay in plush hotels (Hiltons, hyatts, Marriott etc!!!)

    The restaurant got ditched in favour of a BBQ at her brothers house instead so we got to play in the sunshine with the nephews and chill out which was nice too.
    The birthday celebrations continue with a meal I have sorted with friends at a nice Mexican she loves in town- there's 19 of usgoing so I am busy sorting the preorder and the deposits been paid so all should hopefully go smoothly.

    The £20 loose change from the lucky cat change piggyback has been paid in and OP'd as well as the £3 from Pinecone, I've also moved the £5 cashback from TSB for contactless usage across too and a few small tilly tidies of change.

    OPs for June are therefore now at £201 which is pleasing!
    The first direct regular saver has gone in of £300 also so it's all looking positive.

    We've had a (recommended this time!) tiler out for a quote to do the kitchen walls above the work surface and the splash back, it includes a window and is £150 and take approx 2 days.
    We just need to pick and order our tiles now, we originally wanted a lovely sea green/blue but now thinking a lovely lavender would be nice and bright to go with the charcoal gloss cabinets, white work surface and white shiny floor tiles...hoping to go one day this week and confirm.

    We've got a friend over tonight so thinking of a BBQ (BBQ is at parents house but they won't use it -they'd come here if they wanted a BBQ-so said as gf bought it we can have it). I've been tidying up a bit before work as the weekend was so hectic so all of the floors are mopped. Having a quick cuppa then back to work. Planning on cleaning bathrooms on lunch- rock n roll lifestyle
    Emergency savings- £3750.96 /£6000
    Mortgage Oct '16- £170.995 LTV- 90% end date Nov 2041
    2016 OPs £255.50/£150
    2017 MFW #20 - OP £1601.62/ £2150. 74%
    Jan- £68.21, Feb- £306.67, March- £272.01 April-£324.05 May £120.33 June £279.15 July: £172.36 Aug: £61.52
    • Fortune Smiles
    • By Fortune Smiles 20th Jun 17, 12:38 PM
    • 2,491 Posts
    • 20,444 Thanks
    Fortune Smiles
    This all sounds fabulous Kitten. Have a wonderful time.

    Fortune x
    Mortgage: 0.94% paid House Deposit Contribution: 72%

    All we have to decide is what to do with the time that is given to us - J R R Tolkein
    • Kittenkirst
    • By Kittenkirst 21st Jun 17, 10:39 PM
    • 1,510 Posts
    • 7,682 Thanks
    Kittenkirst
    Our first mini BBQ in the garden became a bit of a drunken affair- on a school night

    Our friend used her meal allowance to get some chips & dips, some fruit for in fizz and some other snacks. She also bought two bottles of rose (paid for those herself though onviously)
    Between three of us we managed to polish off five (!!!) bottles of prosecco & rose!

    We utilized some chicken from freezer and some leftover from weekend and made a jerk & lime marinade, bought some 'posh dogs' from M&S (taste like normal sausages so not really worth it but glad we've tried them) and £1.55 on coleslaw and bread rolls. We also did some jacket spuds in the microwave and then popped them on the BBQ. £6 for the BBQ and lots of stuff from stores isn't too bad for a BBQ, I feel we were pretty frugal with it, and we all had a lovely giggly night!

    I then had to leave the house at 5am to travel up north with work today was a very very long day and due to the late night & early start I had to buy food rather than taking a packed lunch. Will work from home tomorrow and have a frugal day!

    55p tilly tidy today and £1.39 cashback received for the Mikado bought the other day making them free (shopmium!) shopmium has milk for free and a cider so will collect those from *sda tomorrow on the way to Jewellery class (swapped days this week so we could have mini bbq!)

    Now catching up with the handmaids tale which is one of my all time favourite books (I do love a post apocalyptic disutopian society read!) whilst the kittens snuggle on the windowsill kept cool by our little desk fan....they are just the sweetest!
    Emergency savings- £3750.96 /£6000
    Mortgage Oct '16- £170.995 LTV- 90% end date Nov 2041
    2016 OPs £255.50/£150
    2017 MFW #20 - OP £1601.62/ £2150. 74%
    Jan- £68.21, Feb- £306.67, March- £272.01 April-£324.05 May £120.33 June £279.15 July: £172.36 Aug: £61.52
    • Kittenkirst
    • By Kittenkirst 21st Jun 17, 10:40 PM
    • 1,510 Posts
    • 7,682 Thanks
    Kittenkirst
    Thanks Fortune Smiles I forgot to mention the meals on Friday night, friends are going in early to decorate the room with the banners and confetti I've bought so I'm hoping she's pleased on the night
    Last edited by Kittenkirst; 21-06-2017 at 11:58 PM.
    Emergency savings- £3750.96 /£6000
    Mortgage Oct '16- £170.995 LTV- 90% end date Nov 2041
    2016 OPs £255.50/£150
    2017 MFW #20 - OP £1601.62/ £2150. 74%
    Jan- £68.21, Feb- £306.67, March- £272.01 April-£324.05 May £120.33 June £279.15 July: £172.36 Aug: £61.52
    • Kittenkirst
    • By Kittenkirst 22nd Jun 17, 9:50 AM
    • 1,510 Posts
    • 7,682 Thanks
    Kittenkirst
    On a geeky note, I have reconciled my banking s/sheet I keep and archived the Jan-may data. This has meant I've had a look at the movements of money from Jan-End of May on the whole and the numbers look ace I think:

    1/1/17-31/5/17

    Overpayments: £1085.03
    Mortgage payments: £4052
    Interest paid: £2087. Total capital cleared £3050.03

    Savings increase: £2093
    Pension pot increase: £1816

    Student loans decrease: £1422
    Credit card cleared: £979.31


    This means my personal financial situation has improved by £6300 (savings and debt movement) and our joint financial situation with the mortgage has improved by £3k

    This has given me a little positivity for today's work day!

    Kittens are running around like little mini demons today, luckily it's still warm but not as humid and sticky as earlier in the week!
    Last edited by Kittenkirst; 23-06-2017 at 8:03 AM.
    Emergency savings- £3750.96 /£6000
    Mortgage Oct '16- £170.995 LTV- 90% end date Nov 2041
    2016 OPs £255.50/£150
    2017 MFW #20 - OP £1601.62/ £2150. 74%
    Jan- £68.21, Feb- £306.67, March- £272.01 April-£324.05 May £120.33 June £279.15 July: £172.36 Aug: £61.52
    • Jessy103
    • By Jessy103 22nd Jun 17, 10:12 AM
    • 410 Posts
    • 1,728 Thanks
    Jessy103
    On a geeky note, I have reconciled my banking s/sheet I keep and archived the Jan-may data. This has meant I've had a look at the movements of money from Jan-End of May on the whole and the numbers look ace I think:

    1/6/17-31/5/17

    Overpayments: £1085.03
    Mortgage payments: £4052
    Interest paid: £2087. Total capital cleared £3050.03

    Savings increase: £2093
    Pension pot increase: £1816

    Student loans decrease: £1422
    Credit card cleared: £979.31


    This means my personal financial situation has improved by £6300 (savings and debt movement) and our joint financial situation with the mortgage has improved by £3k

    This has given me a little positivity for today's work day!

    Kittens are running around like little mini demons today, luckily it's still warm but not as humid and sticky as earlier in the week!
    Originally posted by Kittenkirst
    Great news! Well done!
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount July 2017 - £62,900.00
    Overpayment Target for 2017 - £5,000 /£3,501.87
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11
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