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  • FIRST POST
    • Jessy103
    • By Jessy103 17th Oct 16, 12:00 PM
    • 328Posts
    • 1,324Thanks
    Jessy103
    I Want To Be Mortgage Free!
    • #1
    • 17th Oct 16, 12:00 PM
    I Want To Be Mortgage Free! 17th Oct 16 at 12:00 PM
    I've been reading a lot of inspiring diaries over the past few days (I've actually become quite addicted to reading them!) and thought I would have a go at my own.


    In 2007 me and OH bought our first house for £86,000, we were in rented accommodation and desperate for our own home. As it was 2007 the bank was quite happy to give us a 100% mortgage (I know it was a silly thing to do but I was only 20 and hindsight is a wonderful thing!) and add any fees on to the mortgage but of course the banking crash happened a year later and our house is no longer worth what we paid for it. We are not in a rush to move home but I would like to repay as much of this mortgage and save up as much as we can so that when we do come to move it will be a lot easier and we don't get a LTV of 100% again!


    Unfortunately I am not working at the moment due to health issues and my lovely mum suffers from MS so I like to be available to her when she needs me as it is a very unpredictable illness. The only income I have at the moment is from internet surveys. I am very lucky that I have a fantastic husband that earns a good wage and understands that I want to be there for my mum as much as I can.


    I am trying to be very frugal so that we are able to overpay on the mortgage and save some money so any tips from you lovely people would be greatly appreciated! Thank you for reading!


    Mortgage amount in 2007: £87,310.50
    Mortgage as of October 2016: £70,486.38
    Target for October 2017: £65,000 or under

    If you haven’t already, join the forum to reply!
    This Forum tip was included in MoneySavingExpert.com's weekly email!
    Last edited by Former MSE Jessica; 18-01-2017 at 9:49 AM.
Page 11
    • Jessy103
    • By Jessy103 4th May 17, 12:04 PM
    • 328 Posts
    • 1,324 Thanks
    Jessy103
    I've had the shopping delivered today which was £92.22 for the next two weeks. I'm trying to keep it under £100 for two weeks worth but that can be easier said than done so I'm quite pleased I'm under budget this time. I have had to call Tesco about my previous order though as I was told I would get a refund for two veggie pizzas that I'd ordered which they substituted for meat pizzas so I sent them back. I received an email saying I would receive a refund within 2-5 working days. Well it's been two weeks and still no refund! The lady apologised and said she would sort it out immediately and I then received another email to say I should receive my refund within 2-5 working days so we shall see!

    I have reached 5000 points on newvista so I should receive a cheque for £50 in the next few weeks, this will be nice because our holiday is coming up at the beginning of June! I'm hoping the weather will have improved by then as well! Is it just me or does it seem unusually cold for this time of year?!

    I've been watching that 'How to live mortgage free with Sarah Beeny' and I'll be honest, when I'm mortgage free I'm tempted to sell the house and go live on a boat or in a motorhome and just travel round the country! When I told DH this he looked at me as if I was bonkers and asked if I was off my medication! Lol! How rude of him!

    Have a lovely afternoon!
    Jess x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount April 2017 - £64,990.00
    Overpayment Target for 2017 - £5,000 /£2,672.76
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £275.96
    • Jessy103
    • By Jessy103 9th May 17, 11:00 AM
    • 328 Posts
    • 1,324 Thanks
    Jessy103
    When I've checked the mortgage online this morning the interest had been added on which had taken the total up to £64,817.64. I immediately gave them a call and have made an overpayment for £217.64 taking the total down to £64,600. The interest is 2.88% on our mortgage deal until next year but I am tempted to look how much it would cost for us to get out of this deal and if it would be worth doing this and moving to another that has a better interest rate, has anyone done this because any advice would be greatly appreciated. I'm worried that because I don't work we wouldn't be accepted by another mortgage company but I suppose the best thing for me to do would be to research it before making any decisions!

    Have a lovely day!
    Jess x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount April 2017 - £64,990.00
    Overpayment Target for 2017 - £5,000 /£2,672.76
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £275.96
    • ch4rly2002
    • By ch4rly2002 9th May 17, 11:31 AM
    • 194 Posts
    • 815 Thanks
    ch4rly2002
    My advice would be to ring your mortgage company and find out how much the exit fees would be to leave early. I have found in the past that the fees are prohibitively expensive, even up to the last day, and so not worth paying, except for the tracker we held with HSBC which had no exit fees. Once you know the exit fee I would recommend ringing London and Country who are free to use mortgage brokers and they will be able to advise you if the best deal on the market for you would outweigh the exit fees from your current deal. Good luck!
    Savings: Aim £10k. Dec 2016 £1,700 / Current £9,825
    Mortgage: Dec 2014 -£216,000 / Current -£197,300
    BTL Mortgage: Dec 2014 -£136,000/ Current -£125,800
    Loan to In-Laws: Sep 2010 -£48,185.82 / Current -£35,655.49
    Student Loan: March 2011 -£18,275.04 / 29th April 2017 -£14,003.85
    CC 0%: Nov 2016 -£4,500 / Current -£3,613.77
    • Jessy103
    • By Jessy103 9th May 17, 11:36 AM
    • 328 Posts
    • 1,324 Thanks
    Jessy103
    Thanks ch4rly for the great advice! I will be speaking to DH about it tonight when he gets home to see what he thinks! x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount April 2017 - £64,990.00
    Overpayment Target for 2017 - £5,000 /£2,672.76
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £275.96
    • Jessy103
    • By Jessy103 26th May 17, 10:42 AM
    • 328 Posts
    • 1,324 Thanks
    Jessy103
    Haven't updated for a couple of weeks because there hasn't been much going on! Today however I have made an overpayment of £200, taking the new mortgage total to £64,400.00. I'm really hoping we can get under £60,000 by the end of the year!

    The reason I was able to make another overpayment is because I decided to change the date that the mortgage payment comes out from the 1st of the month to the 25th. I thought this would be a good idea because DH gets paid on the 20th of every month and I am always desperate for the 1st of the next month to come so the mortgage payment will go out and the amount will come down and I thought this way it will come abit quicker! Well it came to the 25th and the payment didn't go out! I called Natwest and they told me because we had already made our monthly mortgage payment for May on the 1st the next payment will now not be until the 25th June!! So my plan has backfired slightly! Lol! The silver lining is we go on holiday at the beginning of June so we will have a little more money for that, which means more ice-cream with clotted cream and a flake!

    I'm planning on taking a few food and drink bits with us to help and save abit of money while we are away. I'm also hoping the weather will stop this sunny because we are going to Devon so it would be greatly appreciated!! Lol!

    The rain last week and the sun this week has really helped my vegetables in the garden and I already have some French beans to be picked. The peas, sweetcorn, tomatoes, peppers and potatoes are coming along nicely aswell.

    After the terrible week we've had I hope everyone has a lovely bank holiday weekend.
    Take care and stay safe.
    Jess x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount April 2017 - £64,990.00
    Overpayment Target for 2017 - £5,000 /£2,672.76
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £275.96
    • kirtsypoos
    • By kirtsypoos 26th May 17, 11:28 AM
    • 2,855 Posts
    • 12,242 Thanks
    kirtsypoos
    I get paid on 21st and feel exactly the same wishing my life away until 1st! I might have to do the same and ask Natwest if we can move our date!

    Have a lovely time in Devon Jessy, and have an ice cream (or three!) for me
    £835/3000 OH BC(72.16% PAID)
    PAID VERY, Barclaycard x2, Vanquis, Natwest, O/D, Tesco & MBNA x2 PAID LBM 24/07/15 - Debt: £835/31010.23 (97.30% paid)
    Mortgage - £162,900.00 (2017 O/P £1312.91) PAYDBX 17 #006 - £15264.59/14,539.71 Make £10 Apr £194.58 Make £10 May £159.75 Make £10 June £266.85
    • Jessy103
    • By Jessy103 26th May 17, 12:11 PM
    • 328 Posts
    • 1,324 Thanks
    Jessy103
    Thanks Kirsty! Oh I will don't you worry about that! Lol! x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount April 2017 - £64,990.00
    Overpayment Target for 2017 - £5,000 /£2,672.76
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £275.96
    • Jessy103
    • By Jessy103 13th Jun 17, 12:08 PM
    • 328 Posts
    • 1,324 Thanks
    Jessy103
    Well we came back from Devon at the weekend, to say I was slightly upset by this is an understatement! Lol! I would love to live there so much that it has given me abit of a boost to help me continue to want to be mortgage free and when we are, to then save as much money as we can so that we would hopefully be able to move down there with the money we have saved, the sale of our house and a small mortgage amount! Wishful thinking, I know but it's good to have dreams!

    I have added up how much we spent while we were away on food, petrol, parking charges etc and it comes to just under £200. To be honest I have never done this before so I can't say whether £200 is good or bad but atleast when we go away again I will have an amount to improve on!

    I've reached £20 on Survey Network so I've been able to cash out on that and also £5 on My Survey UK. I'm at £33 on Onepoll but haven't had any surveys for a few days which I find really annoying when you're so near to the £40 cashout! There are a few others that I'm getting near to cashing out so after the holiday I'm quite motivated to get these done!

    I've had the shopping delivered for the next two weeks and was under my budget of £100 which I'm pleased with.

    DH gets paid in a week so I'm hoping to do an overpayment with the money left over from this month and some of his wages so that when our next normal payment comes out on the 25th we'll be under £64K and stay that way after the interest has been added on. The only thing that might through a spanner in the works is that my parents are coming up this weekend and as an early birthday treat are taking me to Gardener's World Live at the NEC. As I love my garden this is going to be a real test not to buy a trolley full of plants to bring home! Lol! I'm going to have to set myself a limit of £20 and stick to it!

    Have a lovely week!
    Jess x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount April 2017 - £64,990.00
    Overpayment Target for 2017 - £5,000 /£2,672.76
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £275.96
    • themadvix
    • By themadvix 13th Jun 17, 12:29 PM
    • 887 Posts
    • 4,250 Thanks
    themadvix
    It sounds like you had a lovely time away Jess and I think £200 is an excellent spend! I know what you mean about dreaming of moving when you're on holiday - it's a perennial problem for DH and I, but you're right, it is good for motivation! So much of this country is beautiful, it's hard not to get carried away with where 'we could live'!
    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
    • Jessy103
    • By Jessy103 13th Jun 17, 12:58 PM
    • 328 Posts
    • 1,324 Thanks
    Jessy103
    Thanks MV! You're so right, we live in a beautiful country and we haven't been abroad for long time and I can't say I miss it! I'm glad I'm not the only one that dreams of moving to a completely different part of the country, although I seem to have picked one of the most expensive! Lol!
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount April 2017 - £64,990.00
    Overpayment Target for 2017 - £5,000 /£2,672.76
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £275.96
    • PrincessLou
    • By PrincessLou 13th Jun 17, 2:31 PM
    • 500 Posts
    • 1,906 Thanks
    PrincessLou
    I find holidays very motivating too. Just the thought that working hard to pay the mortgage off will give us so much more freedom in where we live, how we spend our time, the adventures we could have. Keep up the good work, Jessy!
    Mortgage - £105,500
    • Jessy103
    • By Jessy103 13th Jun 17, 3:21 PM
    • 328 Posts
    • 1,324 Thanks
    Jessy103
    Thanks lou! You guys on here are so great and supportive!! X
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount April 2017 - £64,990.00
    Overpayment Target for 2017 - £5,000 /£2,672.76
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £275.96
    • themadvix
    • By themadvix 14th Jun 17, 1:02 PM
    • 887 Posts
    • 4,250 Thanks
    themadvix
    I'm assuming DH and I aren't the only ones who always look in estate agents windows when visiting somewhere new?!
    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
    • Jessy103
    • By Jessy103 14th Jun 17, 1:34 PM
    • 328 Posts
    • 1,324 Thanks
    Jessy103
    No you're not MV! I also look on rightmove so I can see the photos of inside! Lol!
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount April 2017 - £64,990.00
    Overpayment Target for 2017 - £5,000 /£2,672.76
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £275.96
    • Jessy103
    • By Jessy103 20th Jun 17, 10:17 AM
    • 328 Posts
    • 1,324 Thanks
    Jessy103
    DH got paid today so I've made an overpayment of £357.79 and when the system updates our new mortgage amount will be £64,200.00. Our normal mortgage payment of £326 (this includes an overpayment of £50) will come out on the 25th June and will take us below £64K,when the interest is added on it might just go back over but I'm sure I'll be able to scrape a few pennies together to take us back under and keep us there!!

    I made a chart the other day that I have read about on other people's diaries, where you take a picture of your house and put a grid over it and have a square for every £1000 so you are able to cross off a square every time you pay off £1000. I've stuck it up in the kitchen so I see it every day and it gives me some motivation, especially when I want to order a takeaway instead of cooking!

    I had a lovely time with my parents on Saturday at Gardeners World Live, it was great to see all the different plants and flowers and we even sat and watched Joe Swift and Carol Klien do talks. My parents wouldn't let me pay for anything and even gave me some birthday money to spend so I only spent £15 which was on a beautiful yellow climbing rose which I have planted and I am hoping will grow up a boring bit of fencing. I'm very grateful to have such amazing parents!

    Have a lovely week and make sure you stay hydrated in this hot weather!
    Jess x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount April 2017 - £64,990.00
    Overpayment Target for 2017 - £5,000 /£2,672.76
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £275.96
    • themadvix
    • By themadvix 21st Jun 17, 9:47 AM
    • 887 Posts
    • 4,250 Thanks
    themadvix
    It sounds like you had a great day - and you have lovely parents!
    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
    • Jessy103
    • By Jessy103 25th Jun 17, 8:26 PM
    • 328 Posts
    • 1,324 Thanks
    Jessy103
    Logged on to the mortgage today and the total has updated, taking off our normal payment even though it doesn't come out of the bank until tomorrow. The new total is £63,874.00. I think the interest will take us back over £64K but I only have to wait until the 9th July to find out and I'll do another payment to take us back under. I'm eager to cross off a square on my new house chart!!

    I've ordered the shopping today which will be delivered tomorrow and was £98 so under my £100 budget for the next two weeks.

    I also bought some card and envelopes off Amazon for £12 which were delivered yesterday as I thought I'd have a go at making my own greetings cards. We had to buy a new printer last year as our previous one had given up and the new one prints much better quality so I'm looking forward to having a go! I have my friend coming round at the end of the week to pick up the things she had stored here while she waited to move so I'm going to make a 'New Home' card and my mum's birthday is coming up so I will do one for her aswell. I'm hoping this will go well and will add up to a large saving over the course of the year, I often can't believe how expensive it is to buy a birthday card! Although I don't know if I'm just being tight! LOL!

    Unfortunately I did have a large unexpected spend yesterday. I had a call from SIL asking if she could call round as she was at the supermarket not far from us, of course I said yes and she turned up in her leathers but without her motorbike. It turned out while she was in the supermarket someone had reversed into her bike, knocking it over and damaging it and making it undriveable. The person then got out of their car, picked up her bike and drove off! Luckily there were witnesses that had taken down the reg of the car and came to tell her what had happened. She rang her insurance company to get her bike recovered but didn't want to make a claim as her excess was £1500!! (she had made her excess this amount for cheaper monthly payments) so the excess would have been more than to repair the damage. I then had to use my credit card to pay for her bike to be recovered to MIL & FIL's as she is jobless at the moment and couldn't afford it, this was £150. She did say she would pay me back when she gets a job but to be honest I'm not holding my breath and even DH said that we'd be lucky if we ever saw the money again! I don't mind helping people out but when you see them spending what money they do have on frivolous things (she recently bought a Wii U) it does grate abit! I'm hoping I will get some good karma in return!!

    Have a lovely week all!
    Jess x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount April 2017 - £64,990.00
    Overpayment Target for 2017 - £5,000 /£2,672.76
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £275.96
    • Elephantchunks
    • By Elephantchunks 26th Jun 17, 11:02 PM
    • 77 Posts
    • 392 Thanks
    Elephantchunks
    Hi Jessy.
    I've enjoyed reading your diary. Well done for all the OPs you're making!
    I'm going to pinch your idea of writing my planned meals on the calendar in the kitchen and put a savings chart next to it that we can colour in. This should make us think twice (or thrice) when wanting a takeaway. Thanks.
    Hope good karma comes to you for helping your SIL in her time of need (& I hope she does pay you back).
    July 7/31 NSD
    Saved so far: July £1675/£2650 +Paid £380 Survey
    Save before we move: End of June £1447/£2380
    Save before we move: End of May £975/£2380
    • Jessy103
    • By Jessy103 27th Jun 17, 7:12 AM
    • 328 Posts
    • 1,324 Thanks
    Jessy103
    Hi elephant! Thanks for reading my diary and thanks for the support! You're welcome, I find the meals on the calendar really helps us to avoid takeaways and also reminds me if I need to get anything out of the freezer to defrost!
    Well I did find a penny yesterday while walking the dogs, it's not much but it's a start! Lol!
    Good luck with your savings chart and I hope it gives you a boost! Take care x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount April 2017 - £64,990.00
    Overpayment Target for 2017 - £5,000 /£2,672.76
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £275.96
    • Jessy103
    • By Jessy103 1st Jul 17, 1:15 PM
    • 328 Posts
    • 1,324 Thanks
    Jessy103
    Well yesterday was my birthday, I turned 31! I had a lovely day! I had a nice walk with the dogs in the morning, watched a couple of films while doing surveys and I was able to claim £15 from them. I had a cider with my lunch and then we were invited to the in-laws for a takeaway and cake (I told DH that under no circumstances was he to take his wallet or use his Just Eat account to order the takeaway because they invited us so he was NOT paying for it!!) I was a bit annoyed when his family seemed to sit around waiting for DH to order it but he was very good and made his sister put her laptop on and order it! (I know this might sound awful but every time we go round for a takeaway DH pays for it and paying for 6 people is not cheap!). I received some lovely gifts and money from my family and friends but after paying the money into the bank today I felt abit down as I've since used it to pay off my credit card which had paid for SIL to get her bike recovered last week.

    Although I had a lovely birthday, I feel abit of miserable beggar today! I just feel that at 31 I should be further on in what I want to do or where I want to live by now but unfortunately unexpected things that crop up in life have got in the way. I know it's up to me to sort this out so I think I'll have a day of self pity and then crack on tomorrow! I am going to start by seeing if I can sell some of my books and DVDs to make abit of extra money!

    Sorry for the miserable rant but felt I had to get it down in writing and get it off my chest!

    Have a lovely weekend!
    Jess x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount April 2017 - £64,990.00
    Overpayment Target for 2017 - £5,000 /£2,672.76
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £275.96
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