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  • FIRST POST
    • giblet1979
    • By giblet1979 5th Sep 16, 11:06 PM
    • 846Posts
    • 3,396Thanks
    giblet1979
    Giblet's mortgage free journey
    • #1
    • 5th Sep 16, 11:06 PM
    Giblet's mortgage free journey 5th Sep 16 at 11:06 PM
    Hi everyone,
    After lurking on here for a while, I have decided to bite the bullet and officially join in....
    I was an enthusiastic DFW, and posted frequently in my diary last year which I found such a good motivator; unfortunately, life got in the way and I didn't keep it up. I did stick with overpaying debt however, and am pleased to have very recently become debt free for the first time in my adult life
    If anyone would like a bit more info about me, it's here:

    http://forums.moneysavingexpert.com/showthread.php?t=4944710&page=23

    I am now a very excited MFW...I have been overpaying about £200 automatically since re-mortgaging from a 2yr 4.24% fix to a 5yr 2.89% fix (saving about £10 a day interest in the process).
    DH and I are totally focussed on getting this mortgage gone early (and my 4 jobs are helping with this at present, lol).
    We've managed to shave about 5mths off our 30yr term in OP's so far (not a bad start) and plan to try and reduce our 27 years remaining to about 10

    Is it possible.....lets try and see

    (...secretly I'd like to pay it earlier, but must be sensible....)

    Can't wait to learn even more hints and tips from you lovely people on here. Just made a £683 OP to round off the day in style (proceeds from 2 months of job 2 and a tilly tidy in the process - feeling brave!)

    Must now resist rechecking mortgage balance and start to plan how to cut back further to maximise OP's.....

    Gib xx
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

    Work overpayment and home improvement loan paid back (£19200)


Page 2
    • mrsp1987
    • By mrsp1987 8th Sep 16, 5:29 PM
    • 781 Posts
    • 3,751 Thanks
    mrsp1987
    Hi again,

    Mrsp - yes I'm also a crazy cat lady have two gorgeous little babies, but one has a poorly ear (possibly due to the other one....) hence the vet visit later! Little monkeys they are thank you for subscribing. It always surprises me when people want to read my incoherent mumblings but I'm very grateful!


    Gib xx
    Originally posted by giblet1979
    It surprises me when people want to read mine too but so few people respond I sometimes wonder if anyone actually reads it or if I'm just really boring
    Save
    Mortgage April 2011: £108,499 30 yr term Current Mortgage £96,211.87 20 yrs 10 months left
    O/P Fund: £2,336.81/£1,000
    Tilly Tidy #11: I've completely lost count!!
    MFiT T4 #67 - Reduce mortgage from £99,310.76 to £80,000. Currently £95,166.53
    • giblet1979
    • By giblet1979 9th Sep 16, 10:03 AM
    • 846 Posts
    • 3,396 Thanks
    giblet1979
    Aww bless you mrsp. I will definitely be subscribing to your diary when I'm back (can't rely onot how my phone browser is showing the page)
    Not sure how much I'll be on here for the next 2 weeks but with free wi fi I will try and check in xx
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

    Work overpayment and home improvement loan paid back (£19200)


    • A Frayed Knot
    • By A Frayed Knot 9th Sep 16, 10:30 AM
    • 1,742 Posts
    • 7,989 Thanks
    A Frayed Knot
    I feel the exact same I know MFW'ers read due to the thanks I get, but when you don't get any replies, you (meaning, I) think - nobody wants to talk to me I must be boring, Boo hoo.

    I do actually think (so I tell myself) it's due to so many good diaries being on here, it's hard to keep up with them all. (That's what I tell myself, anyway)


    Have a great holiday and will hear from you when you get back
    Always have 00.00 at the end of your mortgage balance and someday it will all be 0's
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    o/p 2014/£4000, 2015/£6294.69 MFW2016 #27 £3101.03/£3000
    £1000/£1000 51.44/33.29=84.73
    • amycool
    • By amycool 9th Sep 16, 10:34 AM
    • 666 Posts
    • 2,960 Thanks
    amycool
    My husband's eyes just glaze over as soon as I start mentioning percentages and months saved! He was shocked to hear that if we keep OPing we'll be paid off in 9 years - he thought it was less!!! If it weren't for me it would be more like 20 years!

    Have a brilliant relaxing holiday!
    Mortgage (Start Sep 2014)- £70,295/£46148.98- 34.3%
    Overpayments - £14435.03
    • A Frayed Knot
    • By A Frayed Knot 9th Sep 16, 10:51 AM
    • 1,742 Posts
    • 7,989 Thanks
    A Frayed Knot
    My husband's eyes just glaze over as soon as I start mentioning percentages and months saved! He was shocked to hear that if we keep OPing we'll be paid off in 9 years - he thought it was less!!! If it weren't for me it would be more like 20 years!

    Have a brilliant relaxing holiday!
    Originally posted by amycool

    When my BF comes over I start throwing/quoting figures and years to him. Doesn't seem impressed, but does say I have a lovely house Mental note to myself - don't mention it again, till its all p a i d. Of course, next time, can't help myself though, can I.
    Always have 00.00 at the end of your mortgage balance and someday it will all be 0's
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    o/p 2014/£4000, 2015/£6294.69 MFW2016 #27 £3101.03/£3000
    £1000/£1000 51.44/33.29=84.73
    • cat683
    • By cat683 9th Sep 16, 3:25 PM
    • 19 Posts
    • 58 Thanks
    cat683
    Giblet, I hope you have a lovely holiday!


    My boyfriend is very good with money, ie he doesn't spend much, unless I ask him to
    I still manage all the finances though, pay all the bills and overpay on our mortgage. It's best this way as I have lived on my own for a long time, and it's his first time being a grown-up away from the security of mum
    • giblet1979
    • By giblet1979 26th Sep 16, 6:21 PM
    • 846 Posts
    • 3,396 Thanks
    giblet1979
    Hi.....I'm back
    Well what an amazing holiday. Had soooo much fun and although it was a real treat (i.e. certainly expensive by my tastes) we managed to keep mostly to our (generous) spends budget, and cut back where we could without affecting our experience. Also, OP'd just over £500 on my first day back as got an early pay packet (including accrued annual leave pay) from job 4 so sent the lot to the mortgage

    In less good news, need to take the poorly cat to the vet again tomorrow due to ear problem, and they both need teeth out in 2 weeks, so even with good insurance, the excess is going to hurt! Plus I found out that I have to get my much needed dental work done privately (nowhere will do what I need under sedation) but do have a free consultation at a local practice thanks to the persuasiveness of my own dentist. When I get the quote, I'll decide whether to go ahead. It is causing me significant pain, and I can't be numbed enough to do the work without sedation; I need to save the tooth if possible for longer term 'eatability'. Bloody teeth
    I'm not yet feeling back in the land of the living. Don't feel jet lagged (although DH definitely is) but work was a bit of a shock today I love my job(s) but could certainly live a life of leisure without too much trouble.
    Hope everyone is doing well. I'm sure I've got a lot to catch up on, but must get a report done before tomorrow.....maybe just a sneak peak at a few diaries first......
    Gib xx
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

    Work overpayment and home improvement loan paid back (£19200)


    • mrsp1987
    • By mrsp1987 26th Sep 16, 8:04 PM
    • 781 Posts
    • 3,751 Thanks
    mrsp1987
    Have a look at your policy wording for your pet insurance. When we were first taking Skip to the vets they thought she had teeth reabsorption which was why she was off her food (she didn't but she still had her teeth cleaned) but when we checked our policy dental work wasn't covered. We're with Animal Friends and I don't know if this is the norm for most insurers or if it's just an exclusion from AF, but thought I'd give you a heads up.
    Glad you enjoyed your hollibob xx
    Mortgage April 2011: £108,499 30 yr term Current Mortgage £96,211.87 20 yrs 10 months left
    O/P Fund: £2,336.81/£1,000
    Tilly Tidy #11: I've completely lost count!!
    MFiT T4 #67 - Reduce mortgage from £99,310.76 to £80,000. Currently £95,166.53
    • giblet1979
    • By giblet1979 26th Sep 16, 10:48 PM
    • 846 Posts
    • 3,396 Thanks
    giblet1979
    Thanks mrsp - luckily we're with PetPlan and they've had to have teeth work done before and it was covered (glad we went with the more expensive but more comprehensive plan in this case as it's 'whole of life' even if the same problems reoccur year on year which they have for my poor babies... )

    I found your diary earlier and was happily reading (up to page 7) before I was 'rudely interrupted' by the need to do some essential work for tomorrow. Have finished that now, so am going to try and read a bit more while catching up on GB Bakeoff xx
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

    Work overpayment and home improvement loan paid back (£19200)


    • giblet1979
    • By giblet1979 26th Sep 16, 10:55 PM
    • 846 Posts
    • 3,396 Thanks
    giblet1979
    Little exciting update.....

    Mortgage balance as Jan 2016 - £132,198
    (interest of £2718 then applied)

    Mortgage balance as Sept 2016 - £125,637

    Would love it to be more, but happy with this as only really been seriously overpaying properly for just over 2mths (managed to keep payment the same when remortgaged at a lower rate approx 10mths ago)....

    Need to find more pennies from somewhere...this is addictive! x
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

    Work overpayment and home improvement loan paid back (£19200)


    • mrsp1987
    • By mrsp1987 28th Sep 16, 9:36 AM
    • 781 Posts
    • 3,751 Thanks
    mrsp1987
    7K is awesome!! I've only knocked off about £4K and I've got a smaller balance than you. You're right though, it is addictive!
    Mortgage April 2011: £108,499 30 yr term Current Mortgage £96,211.87 20 yrs 10 months left
    O/P Fund: £2,336.81/£1,000
    Tilly Tidy #11: I've completely lost count!!
    MFiT T4 #67 - Reduce mortgage from £99,310.76 to £80,000. Currently £95,166.53
    • cat683
    • By cat683 28th Sep 16, 12:07 PM
    • 19 Posts
    • 58 Thanks
    cat683
    Welcome back from your lovely holiday it sounds like you had a great time!


    Wow!! Well done on the 7k over 9 months!! Is that right?? :P I wish we could do that!!


    I feel your pain with your teeth! I do hope you can get it sorted and pain free for less than an arm and a leg. I had to be put to sleep for my two wisdom teeth coming out (they had not broken through yet). It was an absolute nightmare! Hope yours will go better. Fingers crossed!
    • amycool
    • By amycool 29th Sep 16, 10:48 AM
    • 666 Posts
    • 2,960 Thanks
    amycool
    Wow - massive overpayments - you should be very pleased with that.

    I'm glad to hear you had a great holiday but how rubbish to now be dealing the 2 lots of teeth problems! Mine are a nightmare as I have receding gums (genetic apparently) and every year they get worse and worse. Plus my old fillings are deteriorating. I hate teeth.

    Hope you and the cats are okay and you soon get back into the swing of work.
    Mortgage (Start Sep 2014)- £70,295/£46148.98- 34.3%
    Overpayments - £14435.03
    • giblet1979
    • By giblet1979 30th Sep 16, 6:40 PM
    • 846 Posts
    • 3,396 Thanks
    giblet1979
    Thanks all. I'll reply properly when I'm on my laptop. Poor cat is getting worse...losing hair and sores appearing has meant a other vet visit and a diagnosis of skin problems. No more treats, aerosols, extra injections and lots of cuddles from mummy to try and reverse the damage...Makes me so sad for her...little lamb!
    Currently preparing the house to make her more comfy so speak later folks and happy Friday xx
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

    Work overpayment and home improvement loan paid back (£19200)


    • giblet1979
    • By giblet1979 30th Sep 16, 6:42 PM
    • 846 Posts
    • 3,396 Thanks
    giblet1979
    Oh and in MSE news my most recent mortgage letter has confirmed I've now shaved a full year off the 30yr term. I want more off tho! Xx
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

    Work overpayment and home improvement loan paid back (£19200)


    • amycool
    • By amycool 1st Oct 16, 10:56 AM
    • 666 Posts
    • 2,960 Thanks
    amycool
    I think we're up to 2 years now. A year or two doesn't seem like much when it's so far in the future, but when you think of it as a whole year of having an extra £XXX pounds every month, you'll definitely appreciate it when it comes. At first I was thinking I'd be saving £500 a month but of course we normally overpay on top so it's even more. That's £6000-9000 extra in one year!!! Mind blowing amount for us!
    Mortgage (Start Sep 2014)- £70,295/£46148.98- 34.3%
    Overpayments - £14435.03
    • mrsp1987
    • By mrsp1987 1st Oct 16, 11:36 AM
    • 781 Posts
    • 3,751 Thanks
    mrsp1987
    For me each £500 overpayment is 2 months off the mortgage! It doesn't sound like a lot but I've done 4 so far this year which is 8 months. It certainly all adds up
    Mortgage April 2011: £108,499 30 yr term Current Mortgage £96,211.87 20 yrs 10 months left
    O/P Fund: £2,336.81/£1,000
    Tilly Tidy #11: I've completely lost count!!
    MFiT T4 #67 - Reduce mortgage from £99,310.76 to £80,000. Currently £95,166.53
    • giblet1979
    • By giblet1979 9th Oct 16, 11:31 AM
    • 846 Posts
    • 3,396 Thanks
    giblet1979
    Hi amy and mrsp (and all) - those extra months are definitely going to make a different. I think we've done about 18mths off now, and as we're paying about £1200 atm (plus any extra we can get) it'll be a HUGE amount when we are finished. To be fair, we don't want to be working as hard as we are forever, and would like to have some little people along the way to cost us, but even so, we're in a good place.

    Happy news to report that my balance as of today is £123,969! Under £124000, yay. Very pleased with this. Obviously I'd love it to be lower, but we're doing really well and have now OP'd about £5000 in total since we remortgaged last November (initially by keeping our DD the same despite the lower interest, and then adding in the amount we were paying towards a finished loan, plus committing to find £200 more at least a month).
    I just want to keep finding more to put to it tho I know this year I can OP another £6000 before penalties (as we only started seriously late in the year) so although that would be impossible, I do have some additional wages coming from the various jobs...wonder how close I can get

    In other news, the cats are now settled here, and my poorly one does seem to be improving (they're currently fighting in a plastic bag, so that is a good sign).

    Another £600 OP made today, leaving me enough to pay for my teeth (quoted at £700 so horrible but essential outgoings). Not looking forward to the surgery tho )

    Off to drink my tea kindly made by DH and to catch up with you all

    Have a lovely day,

    Gib xx
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

    Work overpayment and home improvement loan paid back (£19200)


    • giblet1979
    • By giblet1979 10th Oct 16, 11:30 AM
    • 846 Posts
    • 3,396 Thanks
    giblet1979
    Morning all,
    Neck deep in work but having five minutes off with a brew to check in. Some days I have to keep thinking 'overpayments' to keep me from drowning in the amount of work I take on. Unfortunately it's the paperwork that builds up due to other priorities, but it has to be done eventually!
    Nice but cold day here. I'm resisting the temptation to sneak on to my online banking and do a tilly tidy. Must wait and see the final dental bill damage.....we'll see how long that lasts anyway
    Gib xx
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

    Work overpayment and home improvement loan paid back (£19200)


    • mrsp1987
    • By mrsp1987 10th Oct 16, 8:39 PM
    • 781 Posts
    • 3,751 Thanks
    mrsp1987
    Good news re the cats! I remember when Skip was ill and I would have loved to see her improve, so I understand the sense of relief you might be feeling xx
    Mortgage April 2011: £108,499 30 yr term Current Mortgage £96,211.87 20 yrs 10 months left
    O/P Fund: £2,336.81/£1,000
    Tilly Tidy #11: I've completely lost count!!
    MFiT T4 #67 - Reduce mortgage from £99,310.76 to £80,000. Currently £95,166.53
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