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  • FIRST POST
    • ajmoney
    • By ajmoney 5th Aug 16, 10:50 AM
    • 4,809Posts
    • 55,311Thanks
    ajmoney
    Project Mortgage Neutral Begins
    • #1
    • 5th Aug 16, 10:50 AM
    Project Mortgage Neutral Begins 5th Aug 16 at 10:50 AM
    Hi. We have just remortgaged on our larger product and while mortgage freedom is still the ultimate goal I am working on the smaller challenge of mortgage neutral first.

    We have a smaller mortgage that we transferred when we moved 5 years ago and a larger mortgage that topped it up.

    Mortgage 1

    Total £32097.21
    Interest 2.68%
    Redemption Date Februray 2030
    This is a tracker mortgage, we are not tied into anything but the deal is so good that unless things change substantially I don't intend to change this.

    Mortgage 2

    Total £103615.51
    Interest 1.74%
    Redemption Date February 2030
    This a tracker mortgage too with the current deal ending in August 2018.

    First and foremost I want to get rid of the larger mortgage even though it has the lower interest rate as it is the biggest debt and is the one product we have that could be a struggle if we ever got stupid interest rates.

    We are due to hit mortgage neutral in July 2021. This is worked out with all our mortgage rates staying the same and not receiving any interest on our savings. I am hoping the fluctuations in these will even each other out.

    While Mr AJM is happy to reach mortgage neutral, mortgage free and therefore retire early this a solo journey with it all being my effort. We haven't changed our lifestyle at all so there are always other things we can do but this is not so important to us at the moment.

    I will add more as the next few days go by. Recently I have been guilty of ignoring my thread but I am hoping starting a new thread will get me on here a little bit more.
    2017 MFW No. 70 £3811.44/£5500
    MFiT-T4 No. 70 £17349.11/£29544
    Mortgage £122536.13 Savings £85031.97
    Total left to pay/save £37504.16
Page 7
    • ajmoney
    • By ajmoney 17th Feb 17, 2:35 PM
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    • 55,311 Thanks
    ajmoney
    Took my car into a dealer garage this morning as they are the only ones that can fix my bonnet that won't open and they have found a serious problem with the suspension arms that needs fixing, total £540

    Mr AJM test drove a new car this morning, he would quite like it but also likes the idea of getting rid of the larger mortgage. Less of a mortgage means he can stop working earlier but he needs to work if he wants to buy the car, the same issues the other way around. I guess it is a nice dilemma to have, first world problems and all that, we need to work out what we would like to prioritise. I also priced up getting a new car and trading mine in but I will be waiting until the larger mortgage has gone (mainly down to currently parking in a tight multi-storey at work) and probably buying in 2019.
    2017 MFW No. 70 £3811.44/£5500
    MFiT-T4 No. 70 £17349.11/£29544
    Mortgage £122536.13 Savings £85031.97
    Total left to pay/save £37504.16
    • ajmoney
    • By ajmoney 18th Feb 17, 10:29 AM
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    • 55,311 Thanks
    ajmoney
    I have confused myself. I drip feed our home savings account monthly for our house insurance, management charge and cleaning money, all the money required for the upcoming bills had been taken out this month but we still have £681 in the account??? I think I maybe need to record something else to not get as confused. We need to find an extra £670 to pay for our holiday in April so this can be absorbed this way I guess. It is a nice place to find ourselves in but I am used to knowing how our money works to the penny so it is a little unsettling. I can only think we maybe had some extra money and decided to put it in there in case we needed it.
    2017 MFW No. 70 £3811.44/£5500
    MFiT-T4 No. 70 £17349.11/£29544
    Mortgage £122536.13 Savings £85031.97
    Total left to pay/save £37504.16
    • SuperSecretSquirrel
    • By SuperSecretSquirrel 18th Feb 17, 12:56 PM
    • 563 Posts
    • 2,470 Thanks
    SuperSecretSquirrel
    Sounds like you need a spreadsheet to record the comings and goings in your various accounts
    Mortgage [2013 £64k|2014 £51k|2015 £38k|2016 £26k] £17,933.21
    MN [2013-£25k|2014-£2k|2015+£16k|2016+£34k] +£44,269.86 (MFiT4:+60k)
    NW [2013 £126k|2014 £156k|2015 £190k|2016 £228k] £255,045.36 (2020:300k)
    FI [2013 -1.2%|2014 2.8%|2015 6.9%|2016 13%] 16%
    • ajmoney
    • By ajmoney 18th Feb 17, 5:53 PM
    • 4,809 Posts
    • 55,311 Thanks
    ajmoney
    Sounds like you need a spreadsheet to record the comings and goings in your various accounts
    Originally posted by SuperSecretSquirrel
    I think so too! I need to simplify some of my info so maybe I will start over with everything.

    Mr AJM has reserved the car today, he has been offered an amazing trade in for his car as well as a good deal on the car he is buying. He still wants us to stick to getting rid of the larger mortgage next year so I will make sure it is possible. I need to start by setting his savings up to cover his annual costs as this is something he doesn't currently do.
    2017 MFW No. 70 £3811.44/£5500
    MFiT-T4 No. 70 £17349.11/£29544
    Mortgage £122536.13 Savings £85031.97
    Total left to pay/save £37504.16
    • ajmoney
    • By ajmoney 20th Feb 17, 8:23 AM
    • 4,809 Posts
    • 55,311 Thanks
    ajmoney
    Mr AJM has been worrying this morning that he might have made the wrong decision about the car in case he can't afford it, which he definitely can. He is concerned he may have jeopardised my mortgage plans by getting the car, until I reminded him that we will still be getting rid of our larger mortgage next summer, it just won't be any sooner than that unless he is able to keep saving. I think I need to encourage him to look at his money differently, he is not a big planner so he doesn't do this but it may help him.

    I am using the next 12-18 months until we make the huge payment to bolster my savings as much as I can. We both have the money in savings now that we need next summer so the bigger buffer zone I have the better I will feel. My money for the payment is in my S&S ISA so I want to improve my cash savings.

    Going back to work today, this really doesn't get any easier and I am not sure what the solution is. I am going away with work later this week and a good friend of mine is going who is in the same situation, I am looking forward to talking to her to see how she makes it any easier. I am meeting Mr AJM for dinner on Wednesday evening so we don't have to do 10 days in one go.
    2017 MFW No. 70 £3811.44/£5500
    MFiT-T4 No. 70 £17349.11/£29544
    Mortgage £122536.13 Savings £85031.97
    Total left to pay/save £37504.16
    • ajmoney
    • By ajmoney 2nd Mar 17, 12:49 PM
    • 4,809 Posts
    • 55,311 Thanks
    ajmoney
    Mr AJM has changed how he is funding his new car which is soooo much better financially and while it might take more of his money initially it will be better in the long run.

    I am so tired, I have been away for a week working. I had a great time even though it was long hours. I had an issue with one piece of hold luggage on the way out, arrived 1 day late and delivered to me 2 days after that! On the way back all 3 of us were without luggage as our bags hadn't made the short transfer time, It should be here this afternoon, 24 hours later. Work paid for all the travel/bags so before yesterday's problem I was just going to email b@ to let them know the farce with getting it back in Cologne and how bad their sister companies/host airports are at getting it back but now my email will include a lot more. I was a bit stupid and left my car keys in my hold luggage so I had to get a train back yesterday and now need to get Mr AJM to take me back to work on Sunday or get the train back, both of which mean going back a day early It is a strange one as I can't really expect to be compensated when I haven't paid for anything apart from the train fare.

    I have done the money shuffle and have updated my spreadsheets, things are progressing really well. I am trying to have a low spend month so my credit card bill for car repairs doesn't hit me too hard next month.

    I am treating myself to a hair cut this afternoon, it really needs to be done.
    2017 MFW No. 70 £3811.44/£5500
    MFiT-T4 No. 70 £17349.11/£29544
    Mortgage £122536.13 Savings £85031.97
    Total left to pay/save £37504.16
    • ajmoney
    • By ajmoney 3rd Mar 17, 12:40 PM
    • 4,809 Posts
    • 55,311 Thanks
    ajmoney
    I completely forgot that this is another council tax free month so have just transferred it now.

    We will never see the 128's again
    2017 MFW No. 70 £3811.44/£5500
    MFiT-T4 No. 70 £17349.11/£29544
    Mortgage £122536.13 Savings £85031.97
    Total left to pay/save £37504.16
    • ajmoney
    • By ajmoney 13th Mar 17, 8:11 AM
    • 4,809 Posts
    • 55,311 Thanks
    ajmoney
    One of the weeks that I love, an extra day at home and not travelling back to work until tomorrow I do still have some work to do though.

    Jobs for today
    Go to local work location to pick some things up and check my emails
    Meeting with another band leader (40 mins north)
    Pop into outdoor shop to look at trainers for ultra walk
    Food shopping
    If there is time go for a walk around a local loch, if loads of time do it twice!

    I have less than 8 weeks until my charity walk so I need to start devoting a lot of time to this or I will really struggle!

    In money news, Mr AJM has suggested we cut back on some of our spends (not holidays) while he gets used to the loan amount he needs to pay out. We shouldn't notice too much of a difference and it will mean I can bolster my savings a lot. I am going to try and come up with different ways of us getting out and about that don't cost a fortune, our hi$toric scotland passes and motor sport passes should give us plenty to do and many nice picnics
    2017 MFW No. 70 £3811.44/£5500
    MFiT-T4 No. 70 £17349.11/£29544
    Mortgage £122536.13 Savings £85031.97
    Total left to pay/save £37504.16
    • ajmoney
    • By ajmoney 13th Mar 17, 4:21 PM
    • 4,809 Posts
    • 55,311 Thanks
    ajmoney
    I ran out of time for the walk so will try and go for one after dinner.

    I have been chasing up our energy switch. It has all gone through ok but I have been asking why it is taking so long for our new supplier to give our old one the meter reading so we can get our credit back. It is fairly annoying that smart meters don't transfer over when you move suppliers, I have to wait a couple of weeks and then get in touch for the new company to come and install a new one. It seems very wasteful to me, especially when we are all being encouraged to reuse.

    Waiting for Mr AJM to get home so we can try and book our seats on the plane for our holiday in July. We get 30kg of baggage, good job seeing as we will be away for 3 weeks!
    2017 MFW No. 70 £3811.44/£5500
    MFiT-T4 No. 70 £17349.11/£29544
    Mortgage £122536.13 Savings £85031.97
    Total left to pay/save £37504.16
    • ajmoney
    • By ajmoney 16th Mar 17, 4:33 PM
    • 4,809 Posts
    • 55,311 Thanks
    ajmoney
    Mr AJM really hasn't been well this week and I can't do anything from the other side of Scotland, it is this side of my job that makes me sad it is his birthday on Sunday but doesn't want to do anything that costs too much money. So long as we don't have torrential rain I am planning for us to go out for a nice drive and take a picnic on Saturday. I don't want our lunch to end up like another work packed lunch so if anyone can give any suggestions I would be very grateful. My stepson is coming for dinner tomorrow and then we can have a nice chilled evening, Saturday evening we are going to the ice hockey. Sunday afternoon we are working with our youth band and then going out for dinner with stepson and his girlfriend to celebrate Mr AJM's birthday.

    Work has been very annoying with a lot of time being wasted on things I wasn't required for, slightly more productive today. Luckily tomorrow morning's work should be fairly quick and then I get to go home, should be back by lunch time
    2017 MFW No. 70 £3811.44/£5500
    MFiT-T4 No. 70 £17349.11/£29544
    Mortgage £122536.13 Savings £85031.97
    Total left to pay/save £37504.16
    • EatingTheElephant
    • By EatingTheElephant 16th Mar 17, 6:46 PM
    • 1,072 Posts
    • 5,739 Thanks
    EatingTheElephant
    Going out for a picnic sounds lovely, if it were my hubby he would really appreciate a cheeseboard style picnic - lots of different cheeses and different biscuits. I, on the other hand, would love a cream tea one with scones, jam and clotted cream!
    • ajmoney
    • By ajmoney 16th Mar 17, 7:49 PM
    • 4,809 Posts
    • 55,311 Thanks
    ajmoney
    Going out for a picnic sounds lovely, if it were my hubby he would really appreciate a cheeseboard style picnic - lots of different cheeses and different biscuits. I, on the other hand, would love a cream tea one with scones, jam and clotted cream!
    Originally posted by EatingTheElephant
    You sound like us! I am thinking of doing ploughmans in a box, tailored to what we do and don't like, not sure yet if Mr AJM may be better staying at home and getting over this bug so will decide tomorrow when I go food shopping.
    2017 MFW No. 70 £3811.44/£5500
    MFiT-T4 No. 70 £17349.11/£29544
    Mortgage £122536.13 Savings £85031.97
    Total left to pay/save £37504.16
    • ajmoney
    • By ajmoney 26th Mar 17, 7:32 PM
    • 4,809 Posts
    • 55,311 Thanks
    ajmoney
    I heard a while ago about changes to life insurance this year, I have tried to find some information on it but and struggling, can anyone point me in the right direction please?
    2017 MFW No. 70 £3811.44/£5500
    MFiT-T4 No. 70 £17349.11/£29544
    Mortgage £122536.13 Savings £85031.97
    Total left to pay/save £37504.16
    • ajmoney
    • By ajmoney 4th Apr 17, 6:12 PM
    • 4,809 Posts
    • 55,311 Thanks
    ajmoney
    I am planning on slowly doin work to our gardens, I have no idea how I eventually would like it to look. Our front garden has some overgrown borders and grass, I have no idea what the plants are and the back garden is just grass. I would like to roughly make a plan before I start but am not sure how or where to start. Can anyone give me and pointers or suggest any websites or apps I can use? I am not particularly green fingered so will be learning as I go!
    2017 MFW No. 70 £3811.44/£5500
    MFiT-T4 No. 70 £17349.11/£29544
    Mortgage £122536.13 Savings £85031.97
    Total left to pay/save £37504.16
    • ajmoney
    • By ajmoney 19th Apr 17, 12:46 PM
    • 4,809 Posts
    • 55,311 Thanks
    ajmoney
    I regularly read other people's threads but don't often come onto my own so thought I would update, for my own records really.

    I went back to work for the day yesterday and luckily am spending the rest of the week working from home. I am find work unbelievably stressful which has massive mental and physical repercussions. A lot of it is self-made pressures but I am going to have a chat with someone at work to hopefully help him get my other colleagues on side to understand that the hours I work aren't the same as theirs so I shouldn't be expected to be in all the time. I had a chat with Mr AJM the other day, I have decided to try and be more decisive and if I then need to change my mind at a later date it will be better than making no decisions at all; there is no way I will make it to the summer otherwise.

    I am using the next 3 days to try and get some of my work completed, I have no idea how people manage to work from home, especially artists etc. Waiting for or getting inspiration is taking far too long, I am arranging a piece of music for someone in my band to play and it is not going very well! I have made a good start, going to have lunch and then see what I can do in just under 2 hours before I go and pick Mr AJM up from work.

    Moneywise, this month has been a little tight so we have had to dip into savings, everything should be fine now so long as my service and MOT is ok tomorrow. I think Mr AJM is worried a little about money with his new car so I am going to try and sit down with him tomorrow night and make sure he has everything covered. I am still hoping to clear our larger mortgage in summer 2018 and he would like to also but I don't want it to come at the cost of our life...watch this space.
    2017 MFW No. 70 £3811.44/£5500
    MFiT-T4 No. 70 £17349.11/£29544
    Mortgage £122536.13 Savings £85031.97
    Total left to pay/save £37504.16
    • ajmoney
    • By ajmoney 28th Apr 17, 9:09 PM
    • 4,809 Posts
    • 55,311 Thanks
    ajmoney
    Tonight I am very grateful as Mr AJM has helped me reduce my wordload, stress levels and anxiety about it all to a massive degree. I have a lot of music to get organised for a competition in 9 weeks. I had found exactly what I wanted to play and as I couldn't get it all I was going to arrange it myself which is an awful lot of work to do, so much that I have been putting it off. I played him what I wanted to do and let him know what my workload was and we have found a much easier way, I only have 1 piece left to arrange and 2 to tweak and should get it all completed by the end of Sunday. If I can get back to work on Monday evening with it all ready to print it will make my life so much easier. Hooray for having a husband that knows my job inside out and can help me. I would have helped with his reports that he needs to do but he left them at work in his haste to get home for the weekend.
    2017 MFW No. 70 £3811.44/£5500
    MFiT-T4 No. 70 £17349.11/£29544
    Mortgage £122536.13 Savings £85031.97
    Total left to pay/save £37504.16
    • poddle911
    • By poddle911 29th Apr 17, 8:02 AM
    • 1,397 Posts
    • 6,011 Thanks
    poddle911
    Ah, what a hero - well done Mr AJM! Hope you don't spend all of the long weekend working 🙂
    LBM Sep 2008 debt: £27,927.04
    start weight: 140.2, week 2: 138
    • ajmoney
    • By ajmoney 29th Apr 17, 10:21 AM
    • 4,809 Posts
    • 55,311 Thanks
    ajmoney
    Ah, what a hero - well done Mr AJM! Hope you don't spend all of the long weekend working 🙂
    Originally posted by poddle911
    I plan to see what I can get done today, unfortunately it ideally needs to be done by Monday night to help my stress levels.

    We are biting the bullet and probably getting ready of $ky today. Our bill has just gone up due to our offers ending and according to my call with them yesterday will go up again next month to £112,99 I rang to ask what they could do to help and their suggestion was to get rid of some of our packages even though we use them or our home phone, the other option was give us an £8.50 discount. Erm...I don't think so. We are currently looking at other options, we do like HD channels, but we are preparing to leave. If $ky offer us an amazing deal we may be persuaded but it would need to be amazing.

    The discussion will then be what do we do with the extra money, OP or have a bit extra for ourselves...I may try and sort Mr AJMs monthly finances to show we can OP it.
    2017 MFW No. 70 £3811.44/£5500
    MFiT-T4 No. 70 £17349.11/£29544
    Mortgage £122536.13 Savings £85031.97
    Total left to pay/save £37504.16
    • ajmoney
    • By ajmoney 29th Apr 17, 11:29 AM
    • 4,809 Posts
    • 55,311 Thanks
    ajmoney
    We have done it, $ky tv has been cancelled as the retention deal wasn't worth the paper it was written on. The phone and broadband get cancelled as soon as our new provider gives them the nod which gives us a bit of time to look around and see what the best deal is for us. We are going to wait until the $ky tv has gone before we make any decisions about going with anyone else, we can always hope I get one of Martin's super deals in the meantime. Mr AJM was very impressed with the way I dealt with the phone call, each time pointing out why what they were offering wouldn't work for us, no lies just the plain truth. I feel empowered and a bit free of the hold that these companies have over us.
    2017 MFW No. 70 £3811.44/£5500
    MFiT-T4 No. 70 £17349.11/£29544
    Mortgage £122536.13 Savings £85031.97
    Total left to pay/save £37504.16
    • A Frayed Knot
    • By A Frayed Knot 29th Apr 17, 1:01 PM
    • 2,088 Posts
    • 9,466 Thanks
    A Frayed Knot
    Be prepared before your deal ends for their retention dept to phone you with an exciting (not) offer.

    I managed (although not for everyone) to get bt tv and internet for £5 a month, with line rental paid up 1 year in advance - only a few months in and it has gone up to something like £7.50. A bit peeved as actually thought paid up in advance meant no extra charges - if only. Oh, and I went through TCB, can refer you if not already a member, got £50 card and tcb of £100 back from them
    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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