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
    • Kittenkirst
    • By Kittenkirst 5th Feb 16, 10:35 AM
    • 1,605Posts
    • 8,354Thanks
    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.
    2017 MFW #20 - OP £2151.52: £2150 100%
    Last 3 months- Sep £206.32 Oct: £179.60 Nov: £12.58

    Emergency fund £3945/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
Page 48
    • MichaelDH
    • By MichaelDH 31st Aug 17, 9:18 PM
    • 100 Posts
    • 469 Thanks
    MichaelDH
    Hey Michael, nothing is showing at the referral bonus for me on prolific unfortunately

    I use Onepoll and Yougov as well but they are really slow burners...Onepoll
    Is 10p at a time and Yougov 25p/50p a time but not very frequent for me. My best ones are Pinecone and prolific and you seem to be doing a cracking job with Prolific I must say!

    My Onepoll is at £37.95 so payout is £2.05 away...trying to hit that early September to bolster the September OP. Yougov is miles away from payout at £38.50 and on average I clock up £1.50-£2.25 per month.
    Originally posted by Kittenkirst
    Fingers crossed they sort out your referral bonus - I referred Drew so hoping for a bonus once he cashes out

    May have a look at some other sites, though I'm a bit impatient when it comes to having high payout thresholds... Drew has started using SwagBucks but there's too many screen outs for my liking!

    Meter reads submitted to first utility- our last month was £30 for both gas and elec so the credit balance is nicely building...ready to swap in November and have kept all meter reads so can accurately choose the best deal at the time- fingers crossed.
    Originally posted by Kittenkirst
    Thanks for the reminder! Will make sure to do this in the morning

    Work was pants- I've had a look at postgrad qualifications after work as always been interested in teaching and accountancy....started trying to understand fees and whether any courses could be completed part-time. Will continue researching as think after 11 years I need a change.
    Originally posted by Kittenkirst
    Sorry to hear this. A fresh start might be for the best if work is making you unhappy. Is there any one at work you can talk to that may be able to help sort out issues?

    Pension statement through and mine is showing a projected pension of £207k (this is only one pension). Gf's is only projecting £27k and she's 6 years older than me- we've talked pensions already a bit and she knows to up hers a fair bit in the next month or so and then look at upping it when her sharesaves finish next summer
    Originally posted by Kittenkirst
    Arghhh pensions is my latest worry... Will have to sort out my paperwork and see how things stand. Rough plan is to aim towards having a few BTL's but not sure how possible and/or beneficial this will be as tax breaks are changing. Drew already has a BTL that he's had for a few years and has been quite hassle free so far.
    Starting Balance August 2016: £170,199.00 | Current Balance (4th October 2017): £164,720.53
    OP's to date (starting August 2017): £906.58

    Target: Balance below £160,000.00 by June 2017
    • Kittenkirst
    • By Kittenkirst 2nd Sep 17, 10:08 AM
    • 1,605 Posts
    • 8,354 Thanks
    Kittenkirst
    £1.37 credit interest received on joint bills account so swiftly OP'd to start this months overpayments

    Swiftly followed by a 37p OP to tilly tidy the account! So £1.74 starts off August.

    Kitchen floor is all mopped and buffed up, house is all hoovered and looking pretty.

    Today is the first official day we've let the cats out the front of the house! Naughty little Hugo went for an adventure in the woods at the end of our drive which was a little alarming- quite amusing for my neighbours to see me trampling through brambles and trees after the little Scamp! I've tried calling them back in a few times and giving them treats when they do so they remember home is a nice place. Still a little worrying though but we have to let them venture sometime
    2017 MFW #20 - OP £2151.52: £2150 100%
    Last 3 months- Sep £206.32 Oct: £179.60 Nov: £12.58

    Emergency fund £3945/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • themadvix
    • By themadvix 2nd Sep 17, 2:22 PM
    • 1,117 Posts
    • 6,411 Thanks
    themadvix
    Picturing you in the woods made me laugh KK! Ours are only allowed out in the garden just before meal times (for various reasons the situation about letting them out changed after we got them) - if your neighbours think you're mad, they should see me.... one of our frequently goes over the fence and gets involved with other cats (wailing) or just wanders off.... there I am traipsing around the road, calling, jangling the food, looking under cars... The sad thing is, he's always pathetically glad to see me, as if he's managed to get himself lost!
    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
    • Watty1
    • By Watty1 2nd Sep 17, 10:27 PM
    • 2,863 Posts
    • 19,887 Thanks
    Watty1
    Have to let my kitten out soon. Am thinking of getting her a tracker to go on her collar. I so worry about letting her out and her going back to her feral roots.....
    Mortgage at start of diary Sept 2013: £132,995 Aug 2015 £0
    Overpaying next mortgage. £79,491 now £27152
    • wildesavings
    • By wildesavings 3rd Sep 17, 7:23 AM
    • 170 Posts
    • 475 Thanks
    wildesavings
    Great overpaying!!

    Our cat's a wanderer - if it's dry we don't see him for 12 hrs at a time but he's also a big cat and although soft and dozey he doesn't get picked on x
    Started my MFW journey in August 14 : £103,650
    2017 : Mortgage at 1/1/17 - £96,839 - now : £91,342 - capital reduced by £5497 so far this year
    • Kittenkirst
    • By Kittenkirst 3rd Sep 17, 11:24 AM
    • 1,605 Posts
    • 8,354 Thanks
    Kittenkirst
    It is worrying, and I'll admit there were tears yesterday lunch as I spotted Hugo up on a fence four houses away and then he fell off! As he can't climb the fences yet I was worried he'd be stranded but he made his way back.

    Madvix- that's exactly how Hugo is when you call him and he sees you- so happy and a little confused!

    Had friends round for dinner last night- made homemade chicken wings in sauce with chips, corn on the cob and sambarho (a carrot and cabbage mix with some spices). Seemed to go down well and chatted to my best friends gf about contracting- she's been doing it for two years and it's something we're aware a lot of colleagues have left our place to do and are doing VERY well with it.

    Due to the work we do, it appears as though we could do contracting and register ourselves as a LtD company and pay an accountant to keep managed accounts. We're tempted to try it especially given the monetary incentive- after tax/NI etc it works out to 2.5x my current take home pay at least (doing very very conservative calculations).

    Our mortgage renewal is due 31st May so not sure whether to stick it out for the meantime, build up the emergency funds, get a good mortgage deal (like five years) and then take a year of trying contracting. If it doesn't work out can return to standard salaried role within the industry.

    Lots to think about!

    Been to the gym this morning (wasn't feeling it so kinda went through the motions!) and now home with a cuppa, kittens and master chef.

    Need to make the commission anklets today so after lunch I plan to play in the jewellery room
    2017 MFW #20 - OP £2151.52: £2150 100%
    Last 3 months- Sep £206.32 Oct: £179.60 Nov: £12.58

    Emergency fund £3945/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • Kittenkirst
    • By Kittenkirst 3rd Sep 17, 1:39 PM
    • 1,605 Posts
    • 8,354 Thanks
    Kittenkirst
    FOrgot to add in my earlier post- visited the orthodontist yesterday about the gap in my front teeth- chatted through the options; Invisalign, veneer on one tooth or standar braces and then a retainer for night time use afterwards.

    We talked through all the pros and cons about it all and then they told me to have a good think about it. Chatting it through with the gf I think I'm going to opt for the white braces for £1800 all in and including the night retainer. I've therefore had a play with my accounts app and it looks as though I can afford it by really stripping back the regular savings contributions (it'll be £400 a month for four months and one payment of £200 if I start asap).

    I really want to have it done as it is my teeth but going to mull it over again tonight.
    2017 MFW #20 - OP £2151.52: £2150 100%
    Last 3 months- Sep £206.32 Oct: £179.60 Nov: £12.58

    Emergency fund £3945/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • wildesavings
    • By wildesavings 3rd Sep 17, 6:58 PM
    • 170 Posts
    • 475 Thanks
    wildesavings
    That's a good plan - always sleep on a big decision like that. Does it really bother you? And will you still feel like you without a gap? My braces changed the look of my face completely - not just my teeth. I had an overbite and a dimple between my chin and bottom lip. After the braces they were gone and I looked so plain and boring.

    No retainer and my teeth have gone back somewhat and I look like me again. I'm no stunner but I like my face :lol:

    Also good luck with the contracting work. Sounds like it could be a great idea x
    Started my MFW journey in August 14 : £103,650
    2017 : Mortgage at 1/1/17 - £96,839 - now : £91,342 - capital reduced by £5497 so far this year
    • Kittenkirst
    • By Kittenkirst 4th Sep 17, 7:00 PM
    • 1,605 Posts
    • 8,354 Thanks
    Kittenkirst
    August round up


    £810.80 standard mortgage payment
    £212.52 OP incl.
    £1023.32 paid

    -£419.05 Interest charged
    £604.27 total capital repaid

    £570 total savings increase
    £309 pension contribution

    Surveys cash out; £41.42 (£29.42 prolific £12 Pinecone).
    2017 MFW #20 - OP £2151.52: £2150 100%
    Last 3 months- Sep £206.32 Oct: £179.60 Nov: £12.58

    Emergency fund £3945/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • Kittenkirst
    • By Kittenkirst 4th Sep 17, 7:19 PM
    • 1,605 Posts
    • 8,354 Thanks
    Kittenkirst
    Wildesavings- I've decided to go for it with the white braces. The gap in my front teeth has only occurred in the last 1.5years hence being so concerned by it. I've juggled my savings contributions around until end of January and can cash flow it by not contributing the high levels I've been doing so far.

    Emergency fund is at £4200 so nice and healthy but my plans will pause this growing to cover 6 months expenses until next year.
    I'm comfortable that it's sizeable enough for the moment.

    The contracting/consultancy is just an idea I'm exploring at the moment but I'm finding work incredibly unpleasant and a little soul destroying currently. It's been tough the past year & a half but I've kept myself motivated that it's paying the bills and the mortgage for our little family but more recently it feels so tough.

    Will continue to explore the options and work out fully what I want to do, there's a big part of me that thinks I may as well try as it's better than standing still!

    Managed a NSD today as took lunch and coffees to work- cheap simple dinner of spaghetti and pesto for tea tonight. Yummy and pretty frugal!
    2017 MFW #20 - OP £2151.52: £2150 100%
    Last 3 months- Sep £206.32 Oct: £179.60 Nov: £12.58

    Emergency fund £3945/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • MichaelDH
    • By MichaelDH 4th Sep 17, 10:13 PM
    • 100 Posts
    • 469 Thanks
    MichaelDH
    Hey KK

    Good on you for deciding on the braces. You really can't put a price on anything that might make you feel happier/better about yourself.

    Well done on the OP's for August! x
    Starting Balance August 2016: £170,199.00 | Current Balance (4th October 2017): £164,720.53
    OP's to date (starting August 2017): £906.58

    Target: Balance below £160,000.00 by June 2017
    • Downshifterella
    • By Downshifterella 4th Sep 17, 10:22 PM
    • 62 Posts
    • 319 Thanks
    Downshifterella
    Sorry work is so tough at the moment KK.
    I think sometimes just having some options on offer or as "backup" can be really helpful in feeling more in control of s difficult situation.
    X
    MF planning for the simple life
    • themadvix
    • By themadvix 5th Sep 17, 2:10 PM
    • 1,117 Posts
    • 6,411 Thanks
    themadvix
    What Downshifterella said. You'll work out what you want to do!
    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 5th Sep 17, 9:03 PM
    • 1,605 Posts
    • 8,354 Thanks
    Kittenkirst
    Thanks all, will continue to explore other avenues and try to focus on what I can do and the positives as much as I can.

    Pinecone funds have credited so have requested to withdraw that. Went to orthodontist today for the photos and mouth moods etc- weird experience but the lady doing it is very lovely with wonderful teeth! Next orthodontist appt is in two weeks for the braces, and have booked a standard check up with my regular dentist for next week to check the overall health (orthodontist thinks they look okay with a quick exam but wants me to double check). So looks like lots of dental appointments for the next 6-9 months!

    Took lunch in again today but bought myself (& a good colleague/friend) egg custard tarts at lunch to cheer me up! So 70p spent but it's not too bad- was very tempted to have a frothy coffee, can of pop and bar of chocolate to cheer myself up (I'm a total eater!)

    Completely forgot to tel you about this weekend- friends from home invited me down south to the beach for their birthday on Saturday. I've not seen them in a while and really wanted to go but it's a very long drive. Managed to find a place to stay on airbnb for £40 so we've now taken Friday off to drive down in the morning with a view to chilling in Bournemouth in the afternoon/ evening and then being fresh faced for Saturday morning to see friends. One friend is bringing her two little boys and I can't wait to see them. As I've moved away from home I don't see them anywhere near as much as I would like to which is when I'm thankful for fb and Instagram as I still get to experience their growing up so proud of my friend and her little family

    So looking forward to the weekend!!! We'll take a packed lunch for Friday lunch so we can just stop for a frothy coffee (on the Starbucks card of course so pre paid and discounted!) and then just a dinner to cover in the evening. Gf has never been there before so looking forward to showing her Bournemouth/Boscombe
    2017 MFW #20 - OP £2151.52: £2150 100%
    Last 3 months- Sep £206.32 Oct: £179.60 Nov: £12.58

    Emergency fund £3945/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • Downshifterella
    • By Downshifterella 5th Sep 17, 9:31 PM
    • 62 Posts
    • 319 Thanks
    Downshifterella
    Ooooooo Love Bournemouth! It's gorgeous and good for the soul to be by the sea!
    Enjoy-sounds a much needed break

    With ya on the food /spending when things at work gets stressful well done on only buying the one/2 cakes!
    MF planning for the simple life
    • wildesavings
    • By wildesavings 5th Sep 17, 10:19 PM
    • 170 Posts
    • 475 Thanks
    wildesavings
    Have fun xxx
    Started my MFW journey in August 14 : £103,650
    2017 : Mortgage at 1/1/17 - £96,839 - now : £91,342 - capital reduced by £5497 so far this year
    • debtfreeoneday
    • By debtfreeoneday 6th Sep 17, 9:03 AM
    • 2,780 Posts
    • 9,505 Thanks
    debtfreeoneday
    Enjoy your break!
    DFW (08/08) £64,346.53
    Credit card debt: £3,346.29 over three credit cards.
    MFW (01/15) £118,031.21 £95,324.07
    • Watty1
    • By Watty1 6th Sep 17, 9:28 AM
    • 2,863 Posts
    • 19,887 Thanks
    Watty1
    enjoy your weekend
    Mortgage at start of diary Sept 2013: £132,995 Aug 2015 £0
    Overpaying next mortgage. £79,491 now £27152
    • themadvix
    • By themadvix 7th Sep 17, 12:10 PM
    • 1,117 Posts
    • 6,411 Thanks
    themadvix
    Have a lovely weekend!
    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 10th Sep 17, 11:22 AM
    • 1,605 Posts
    • 8,354 Thanks
    Kittenkirst
    Got back late last night and had a fab two days away!
    Ate out at Rick Steins seafood restaurant at Sandbanks on Friday night which was just excellent and had a lush few days with the gf and my friends from school.
    Weather was beautiful in the morning so we got to play on the beach and paddle in the sea (freezing!) but had a torrential downpour in the afternoon which led to lots of giggles and some time on the 2p machines in the arcade on the pier :

    Much needed NSD today kicked off with a trip to the gym: 5km run and a circuit training routine completed and even managed to do the stretches after!

    Let the boys out this morning and went off to the gym- got home and was happy to find them racing around the garden and they came in to say hi which was lovely! Slowly getting there with letting them out more and using that cat flap!

    £3 Pinecone received and swept across to the mortgage.

    The really exciting news is we went to trailfingers to talk Oz next year and got some brochures and chatted to the guy who is going this month- got some fab suggestions and ideas. Looking to book flights from next month and then get cracking with the planning! We are definitely stopping in songapore so fingers crossed for the Grand Prix being confirmed!!
    Gf's mum is giving her some funds towards the holiday from her 40th in June so think that will cover the tickets and pay for another smaller tour.

    We're thinking the east coast starting in Sydney, drive up a little, fly to the Whitsundays then back and fly to Cairns to chill there. Lot s to plan and budget in
    2017 MFW #20 - OP £2151.52: £2150 100%
    Last 3 months- Sep £206.32 Oct: £179.60 Nov: £12.58

    Emergency fund £3945/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
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

3,563Posts Today

7,491Users online

Martin's Twitter