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    • f0xh0les
    • By f0xh0les 12th Aug 16, 1:55 PM
    • 813Posts
    • 5,700Thanks
    22 Foxhole East
    • #1
    • 12th Aug 16, 1:55 PM
    22 Foxhole East 12th Aug 16 at 1:55 PM
    I just made my first mortgage overpayment.

    We bought a 5 bed Victorian terraced house in the East Midlands in April 16 that has been badly neglected. It needs everything doing, it has been let out on a room by room basis and used as a rental machine. Now it is our family house (4 kids = one bedroom each!!).

    So far I have replaced 2 Velux on the attic floor so the rain stays on the outside (very rotten frames)

    Have had a full electrical rewire as the wiring was underneath the wallpaper - not boxed or chased in, just behind the wallpaper and skirting boards. Got a shiny certificate and everything now!

    Decorated 4 kids bedrooms and put down new carpets in 3 of them

    On the still to do list for this year

    - new roof and insulation - nails degrading! Snow could cause a huge problem. Better get it sorted really.

    - New shower and bathroom flooring - water damage, holes in floors (!) we should have moved the bath mats when we were viewing, they hid a lot of damage.

    Plastering and decorating.

    Nice carpets!!


    That will be the two top floors done and I can kid myself I am 2/3rds of the way finished

    Not attempting anything on the ground floor until 2017 - so no talk of log burners,knocking down walls, kitchens, damp proof courses, shower rooms or the like. That way lies madness, shhhhh, next year, at some point...

    So, let's talk money.
    House cost 160,000
    Deposit was 41,315 (sale of previous nasty Manchester Foxhole)
    Amount borrowed 118,685

    We got a 1.94 % fixed for 2 years with Accord which rises to something ridiculous like 7% so remortgage time in 2018

    We will repay 1.82 for every 1 borrowed over the 26.5 year life of the mortgage unless I overpay

    I have just rung Accord, found out I can repay up to 10% of the total amount borrowed (each year without penalty), can make as many overpayments as I like per month without penalty, but cannot check on the balance online. I have to ring up a silly automated 0345 number that will tell me what the balance is! I will have to remember to ring it on my mobile so it is free.

    Monthly Mortgage repayment 467.00
    An overpayment of 200 a month would knock 10.5 years off the life of the mortgage.

    We are planning on spending 5 years living here, and them moving elsewhere due to the nature of DH's work. So, lets see how much I can throw at this mortgage.
    MFW May118,340 A117 S116 N115, D114 J114 Feb 113,500 M 112,800 A112,250 MAY 111,600 - next goal- 110k) SPC #59 Very Special Agent Womble #15 NST#9 Competition wins..a kids book Free Amazon vouchers 13 YouGov 48.25 (50 Nov) Tesco 15.00 Mr Morris 15
Page 18
    • greent
    • By greent 16th May 17, 5:16 PM
    • 5,803 Posts
    • 58,628 Thanks
    Urgh! I hate tax credits - I mean, I'm thankful for the money when we receive them, but it's such a palaver - I really do wonder how some people manage to do all their forms and what not. I've had 3 overpayment bills from them, despite keeping them informed of changes
    I also had them miss 2 children off a claim entirely for 6 months and was told it was my fault (I had sent the paperwork in - they were the ones who had ignored that sheet....) and if you phone up 2 amendments at one time it seems that only one gets processed (I've had that happen twice now) And I've been reduced to tears by their staff before now over the phone. Grrrrrr!!!!

    I just cross my fingers every time I get an updated letter and hope the amount is correct.... (and then pay the bill when it isn't (sometimes))
    Repaid mtge early (orig end 11/25) Bal 01/09 124616 01/10 104927 01/11 89873 01/12 76317 01/13 52546 01/14 35356 01/15 12133 07/15 NIL
    Next up: BTL Mtge 12/16 Bal 69786. 2017 OP target (18) 2000/3286
    Net sales 2017 457.00/500 PAYDOX17 9435/10k Decluttered 721/2017 items
    • f0xh0les
    • By f0xh0les 16th May 17, 7:58 PM
    • 813 Posts
    • 5,700 Thanks
    I wish they would send the letter, and then give you the money, but this money appearing, and then having to wait for weeks for the letter to catch up so you know what they are doing, is soooo frustrating.
    MFW May118,340 A117 S116 N115, D114 J114 Feb 113,500 M 112,800 A112,250 MAY 111,600 - next goal- 110k) SPC #59 Very Special Agent Womble #15 NST#9 Competition wins..a kids book Free Amazon vouchers 13 YouGov 48.25 (50 Nov) Tesco 15.00 Mr Morris 15
    • Bobarella
    • By Bobarella 17th May 17, 10:37 AM
    • 10,519 Posts
    • 67,646 Thanks
    Wow sounds a nightmare Foxy.
    "You're not rich until you have something money can't buy."

    Debt neutral 27/03/17 from 40k in the hole 2012.
    Roadkill 17 53.62 2016-62.28 2015- 84.20)
    RYSAW17 1795.58 2016 2,535.16 2015 1027.20
    • f0xh0les
    • By f0xh0les 20th May 17, 11:02 AM
    • 813 Posts
    • 5,700 Thanks
    Four days later, still no renewal letter, so I am having to log on to the yougov site weekly to see what I will get in order to budget.

    I had a rather large amount in the bank account this week, just haven't really spent very much, all the meal planning and shopping have been done, the car filled with petrol and still there was more in there than I had expected, so I just threw 300 at the mortgage, which means..... the first of June should bring me down to the magic 110 I was aiming for. Which means I have knocked a year's interest and payments off the mortgage and the daily interest is down to 5.90.

    Went to a funeral on Thursday. One of my uni friends died. Very sad, the first of the gang to die. Makes you think don't it.

    Got very frustrated by the whole not losing weight thing. Upped my workout to burn 400 calories, from 300. Going every day after dropping the kids at school. One day gym, next day swim. Looked at what I am eating. Even though I cut out all the sweets/crisps/chocolate/biscuits there was still no change, but my weight was no longer going up, but suddenly this morning I am down 3lbs. Maybe my body is finally recognising I am not giving up and it needs to get with the programme. First weight loss is always impressive, after the first stone it takes a bit more effort and slows down, so hoping to be 5lbs lighter by 1st June so that I drop down a stone bracket.

    I have decided to educate the kids into the wonderful world of Alfred Hitchcock. Suspense is something that really affects them. I have noticed on kids programmes everything is spelled out, there is no 'what is going on?' 'why did he do that?' 'What is that man up to?' It is completely 'no thinking necessary'. So yesterday Alfred came up in conversation, and lo! serendipity! North by Northwest is on this afternoon on BBC2, and so we are having filmclub afternoon. - DS1 is still holding out for Aliens - he liked Alien but the silent bits were quite uncomfortable for him, that was what made us realise about the lack of thinking required, and the lack of suspense in modern kid based programming. Will see how it goes before letting them watch The Birds. It has aged badly, so obviously fake, it wouldn't scare a 5 year old. Won't try it just yet though. Mind you, my 12 yr old got very animated watching a Midsomer Murder last year. The not knowing who did it really wound him up. He was accusing everybody as the murderer. It was more amusing watching him trying to figure it out, than the programme.

    Please feel free to criticise my parenting! My kids need to learn to .....wait..... and...... see! All will be revealed, or possibly not... life is not like that.
    Last edited by f0xh0les; 20-05-2017 at 11:04 AM.
    MFW May118,340 A117 S116 N115, D114 J114 Feb 113,500 M 112,800 A112,250 MAY 111,600 - next goal- 110k) SPC #59 Very Special Agent Womble #15 NST#9 Competition wins..a kids book Free Amazon vouchers 13 YouGov 48.25 (50 Nov) Tesco 15.00 Mr Morris 15
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