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  • FIRST POST
    • Jessy103
    • By Jessy103 17th Oct 16, 12:00 PM
    • 410Posts
    • 1,730Thanks
    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 13
    • themadvix
    • By themadvix 14th Jul 17, 1:03 PM
    • 951 Posts
    • 4,897 Thanks
    themadvix
    I think I might have to get a chart once we're back on track and I have a new kitchen
    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
    • CharlieKat
    • By CharlieKat 14th Jul 17, 6:39 PM
    • 49 Posts
    • 119 Thanks
    CharlieKat
    Hi Jessy

    Wow! i love your diary you're so focused and motivated

    I wonder how many of us on this site are overpaying with a view to moving and starting it all over again

    I love your targets and I'm thinking what i can set as a target as i'm limited on overpayments as well as they're capped at 10%. trying to think what I could have as my target when I'm back in work again i'd already overpaid the full 10% this year and I just pay a set amount extra off each month as that's the maximum i can afford.

    I've subcribed and looking forward to more target updates and dog-walking adventures
    Mortgage: £140,000 £71,759.31
    Credit Card 1 8/7/17: £2771 £2,452
    No buying new clothes from 16/07/2017
    • Jessy103
    • By Jessy103 16th Jul 17, 3:48 PM
    • 410 Posts
    • 1,730 Thanks
    Jessy103
    Hi Jessy

    Wow! i love your diary you're so focused and motivated

    I wonder how many of us on this site are overpaying with a view to moving and starting it all over again

    I love your targets and I'm thinking what i can set as a target as i'm limited on overpayments as well as they're capped at 10%. trying to think what I could have as my target when I'm back in work again i'd already overpaid the full 10% this year and I just pay a set amount extra off each month as that's the maximum i can afford.

    I've subcribed and looking forward to more target updates and dog-walking adventures
    Originally posted by CharlieKat
    Thank you so much CharlieKat for the lovely post! As I don't have a job at the moment and just rely on surveys for income we do find it difficult to reach the 10% but every little helps as they say! x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount July 2017 - £62,900.00
    Overpayment Target for 2017 - £5,000 /£3,501.87
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11
    • Jessy103
    • By Jessy103 16th Jul 17, 4:24 PM
    • 410 Posts
    • 1,730 Thanks
    Jessy103
    Well not much to report on the mortgage front, the next payment comes out on the 25th after DH has been paid on the 20th. We do still have some money left in the current account so I'm hoping I can sneak in an overpayment of £100 before the next normal payment comes out.

    Some good news this week!! SIL messaged me to say she had had an email from her insurance company and that they were refunding £48 to my card for the recovery on her bike! SIL didn't tell me why but it came back onto my credit card the day after so I'm happy! (Just £102 to go!).

    Me and my neighbour took the dogs for a nice walk Wednesday and then went to the Yummy Yorkshire Ice Cream Farm! All i can say is they certainly don't disappoint and it was indeed YUMMY!! We had tea and cake while we were there (we had been for a long walk so it would have been rude not to!) and then took home 4 tubs of ice cream! I picked Jaffa Cake flavour and white chocolate and cherry for DH. My neighbour went for raspberry ripple for her and midnight mint for her partner. She messaged me not long after we had got home to say she thought she would TRY her ice cream before putting it in the freezer but ended up eating a quarter of the tub! Lol! We also discussed setting up a 'Dog Walks and Their Cafes' blog where we would rate dog walks we go on and their coffee and cake and then charge for advertising! Lol!

    We went to a wedding yesterday which was for my step-brother. It was abit out in the middle of nowhere and a 3 hour journey from home so the dogs had to go into kennels for the night (they were not happy). We picked them up this morning and it cost £50 so not too bad. We didn't have to pay for the accommodation as yet again my parents paid for us and refused to take any money! I'm starting to think that because we are frugal and don't spend alot of money my parents have misread the situation and think we are poor!! I have explained our MF journey but I'm not sure they quite understand it! The only bad thing about the wedding was the food. Both me and mum are veggie and as we were the only two a veggie option wasn't put on the menu so we didn't know what we were having! For starter we got an apple and nut salad, I'm the sort of person that hates fruit and nuts mixed in things, I can eat them separately but not in cakes, chocolate or salad so I ended up eating the small amount of salad leaves there were. For main we got a huge bowl of pasta in a tomato sauce and that was it! No vegetables in at all just literally pasta and a sauce!! My mum sent hers back and told them it was an insult to veggies! I was abit embarrassed but completely agree with her, I mean how hard it is to cut up some mushrooms, courgette or peppers!!! It turned out the chef had just picked pasta off the kids menu and gave us more of it!! The only upside was the pudding which was a lemon tart but I topped off the meal by spilling some of the raspberry sauce down my white cardigan! Although it was a lovely wedding I was happy to get home this morning and promptly cooked us fried eggs, potato waffles and beans!! Unfortunately our veggie option wasn't the only bad meal as the bride had chicken and found some of it was pink and hadn't been cooked properly, DH said his chicken tasted funny and my other SIL said hers looked abit pink too so she didn't eat it! I felt sorry for them as they had paid alot of money for their day and it was a shame that their wedding meal wasn't upto scratch. They didn't want any presents so when I made their card i just put some money in for them. My mum thinks we should go selling homemade cards at craft fayres, the catch is I have to make all the cards and she just wants to be next to a fudge stall!

    Sorry for the long post!
    Have a lovely week!
    Jess x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount July 2017 - £62,900.00
    Overpayment Target for 2017 - £5,000 /£3,501.87
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11
    • Jessy103
    • By Jessy103 19th Jul 17, 10:59 AM
    • 410 Posts
    • 1,730 Thanks
    Jessy103
    Managed to sneak in that overpayment of £100 this morning as DH gets paid tomorrow and we had some money left in the bank. The new mortgage total is £63,800.

    I've claimed £10 from Panelbase so that you should be in my account in the next couple of days.

    Not much else to report really, I'm going to sort through a storage box today that contains my handbags and see if I can sell any on ebay. Still sticking to the meal plan but I'll be honest, I'm struggling especially when I see an advert for Dominos!

    Have a lovely day!
    Jess x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount July 2017 - £62,900.00
    Overpayment Target for 2017 - £5,000 /£3,501.87
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11
    • Elephantchunks
    • By Elephantchunks 21st Jul 17, 10:52 PM
    • 108 Posts
    • 574 Thanks
    Elephantchunks
    That is such a shame that the food at the wedding was inedible. I hope they get it refunded. They could have made people really ill.
    I love doing craft fayres. I try to get the table next to the chutney lady and not the soap lady (I do them at a local pub, ale and the smell of soap don't mix well).
    It's great that you got the £48 back, hope the rest comes your way soon.
    August Monthly Challenge: Magic up £89.65/£164.
    August £100 Weekly Challenge: Week 2 £110/£100
    August £100 Weekly Challenge: Week 1 £99.91/£100

    Save before we move: End of July £2180/£3010
    Save before we move: End of June £1447/£2380
    Save before we move: End of May £975/£2380
    • Jessy103
    • By Jessy103 22nd Jul 17, 4:12 PM
    • 410 Posts
    • 1,730 Thanks
    Jessy103
    Thanks EC! What do you sell at craft fayres? Mmhmm chutney!!! I may do some with my mum if there's a chutney lady! Lol! x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount July 2017 - £62,900.00
    Overpayment Target for 2017 - £5,000 /£3,501.87
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11
    • Elephantchunks
    • By Elephantchunks 23rd Jul 17, 1:41 PM
    • 108 Posts
    • 574 Thanks
    Elephantchunks
    Lol!
    I mostly sell felt Christmas tree ornaments and felt gifts. I like to try all sorts though. My style is especially loved by the kids and there's not usually much for kids to buy at craft fayres. I love to see their happy faces when they run off playing with what I've made.
    August Monthly Challenge: Magic up £89.65/£164.
    August £100 Weekly Challenge: Week 2 £110/£100
    August £100 Weekly Challenge: Week 1 £99.91/£100

    Save before we move: End of July £2180/£3010
    Save before we move: End of June £1447/£2380
    Save before we move: End of May £975/£2380
    • Jessy103
    • By Jessy103 23rd Jul 17, 6:41 PM
    • 410 Posts
    • 1,730 Thanks
    Jessy103
    Lol!
    I mostly sell felt Christmas tree ornaments and felt gifts. I like to try all sorts though. My style is especially loved by the kids and there's not usually much for kids to buy at craft fayres. I love to see their happy faces when they run off playing with what I've made.
    Originally posted by Elephantchunks
    Aww that's great!! You sell any on ebay or elsewhere online? I like to support people if I can!! x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount July 2017 - £62,900.00
    Overpayment Target for 2017 - £5,000 /£3,501.87
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11
    • Elephantchunks
    • By Elephantchunks 23rd Jul 17, 9:29 PM
    • 108 Posts
    • 574 Thanks
    Elephantchunks
    Thanks Jessy. I have done and will do again. This year has been all about redecorating the house to sell and I packed my craft room away to show as a bedroom. Can not wait to get my new craft room in the back of the sitting room and a new workshop to start playing with wood. Nearly there.
    August Monthly Challenge: Magic up £89.65/£164.
    August £100 Weekly Challenge: Week 2 £110/£100
    August £100 Weekly Challenge: Week 1 £99.91/£100

    Save before we move: End of July £2180/£3010
    Save before we move: End of June £1447/£2380
    Save before we move: End of May £975/£2380
    • Jessy103
    • By Jessy103 23rd Jul 17, 10:34 PM
    • 410 Posts
    • 1,730 Thanks
    Jessy103
    Well let me know when you do! Christmas is my favourite time of the year so I would definitely be interested in some felt Christmas tree ornaments!! x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount July 2017 - £62,900.00
    Overpayment Target for 2017 - £5,000 /£3,501.87
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11
    • Jessy103
    • By Jessy103 25th Jul 17, 11:34 AM
    • 410 Posts
    • 1,730 Thanks
    Jessy103
    The normal mortgage payment has gone out today which includes an overpayment of £50 and the new total is £63,474.00. When our 10% allowance resets at the beginning of August I'm going to increase the £50 overpayment to £100. We have nearly £3000 in the EF but I can't help wanting to take £500 of that and make an overpayment so that we use all of our 10% allowance before it runs out!! I might talk to DH about it because I can't help thinking that it would be of better use overpaying on the mortgage than sitting in DH's saving account making hardly any interest! On the other hand I want to get the EF up to £5000 in case, well you know there's an emergency! Argh someone help and tell me what to do! Lol!

    I'm on £39.15 on onepoll, these last couple of pounds seem to take forever to get!! I am waiting for a cheque to be sent from Inbox Pounds for cashing out on there, I don't know why they don't get with the times and do PayPal.

    I've listed a necklace on ebay which I don't wear anymore and I hope will sell. I've also decided to sell my bicycle as I just don't use it anymore and it's sat gathering dust but I think I'll use the local freeads for that.

    I have decided to try amazon prime for a few months and see it how it goes. I find I'm ordering more on amazon now that I'm getting the dogs flea and worming stuff on there as well as other things and I'm hoping it will save me money on the postage. As I'm also a big reader I'm going to use it for the free books and read them on my tablet as opposed to buying hard copies. DH is already making use of the amazon prime TV so he's happy!

    Have a lovely week!
    Jess x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount July 2017 - £62,900.00
    Overpayment Target for 2017 - £5,000 /£3,501.87
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11
    • SuperSecretSquirrel
    • By SuperSecretSquirrel 25th Jul 17, 8:40 PM
    • 563 Posts
    • 2,471 Thanks
    SuperSecretSquirrel
    It would be a shame not to use up the whole 10% allowance this year... Use it or lose it
    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%
    • shangaijimmy
    • By shangaijimmy 25th Jul 17, 9:19 PM
    • 2,151 Posts
    • 9,653 Thanks
    shangaijimmy
    I agree, you should use your 10% allowance.
    MFW: Turning June 2036 into March 2023... 29//120 Payments Challenge, Diary Reduction £30,703.25
    Aug 2009: £163,051 // Current: £105,296.75 // Avg Daily Interest £4.73
    MFiT-T4 #8 - 47.86% of £41,000
    • Jessy103
    • By Jessy103 26th Jul 17, 10:04 AM
    • 410 Posts
    • 1,730 Thanks
    Jessy103
    Thanks guys, that's exactly what I was thinking!

    DH and I had a chat about it and we decided to make the overpayment. Our deal comes to an end in September 18 so we thought the best thing we could do is overpay as much as we can so that when we come to look at deals we should hopefully get some good ones as our LTV will have decreased.

    I called Natwest this morning and made an overpayment of £574 (We had £589 of our allowance left) which takes the total to £62,900! I haven't crossed off the square on my chart yet as the interest may take us back over £63K but as we won't know until the 9th August I'll just have to wait and see and as the allowance resets on the 1st I'll be able to make an overpayment to take us back under! The bloke I spoke to asked the usual question of 'Why are you overpaying?' and my response 'I want to move to Devon!!!!'

    We're getting close to '£60K by the end of the year' target so I'm feeling good!!

    The shopping for the next two weeks came yesterday and was £10 under budget at £90 so I'm quite pleased with that but can't help feeling like I've forgotten something! I'm hoping Aldi will hurry up and build their new shop round the corner from me so I'm able to walk there to do my shopping and get my spend down even more!

    I'm still soldiering on with the surveys but I'm finding it difficult to get the motivation to do them this week. Might have a couple of days off and give myself a little break from them!

    Have a nice day!
    Jess x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount July 2017 - £62,900.00
    Overpayment Target for 2017 - £5,000 /£3,501.87
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11
    • themadvix
    • By themadvix 27th Jul 17, 10:39 AM
    • 951 Posts
    • 4,897 Thanks
    themadvix
    Exciting news about the OP - so close to £60k now

    I find I lose motivation with surveys after a while too - I think you're right, a short break and they will regain their 'appeal'!
    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 27th Jul 17, 10:44 AM
    • 410 Posts
    • 1,730 Thanks
    Jessy103
    Thanks MV! Yeah I know there's only so many times you can answer the same questions before it gets abit tedious! x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount July 2017 - £62,900.00
    Overpayment Target for 2017 - £5,000 /£3,501.87
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11
    • shangaijimmy
    • By shangaijimmy 27th Jul 17, 2:53 PM
    • 2,151 Posts
    • 9,653 Thanks
    shangaijimmy
    Surveys are one step i'm not prepared to get into!!
    MFW: Turning June 2036 into March 2023... 29//120 Payments Challenge, Diary Reduction £30,703.25
    Aug 2009: £163,051 // Current: £105,296.75 // Avg Daily Interest £4.73
    MFiT-T4 #8 - 47.86% of £41,000
    • Jessy103
    • By Jessy103 28th Jul 17, 10:41 AM
    • 410 Posts
    • 1,730 Thanks
    Jessy103
    I can see why SJ!! Lol! I don't mind doing them that much and if I put the effort in I can make about £100 a month from them. I know that doesn't sound like much but as I'm not working at the moment it does help contribute to the household bills and I don't feel completely useless!
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount July 2017 - £62,900.00
    Overpayment Target for 2017 - £5,000 /£3,501.87
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11
    • CharlieKat
    • By CharlieKat 28th Jul 17, 2:13 PM
    • 49 Posts
    • 119 Thanks
    CharlieKat
    Hi Jessy - that's really good on the overpayments this year

    And you've encouraged me to try survey sites again Are there any you recommend?

    it's also interesting to read your food spends - ours was under £50 so far this week and trying to keep it that way That does include cat food, toiletries and some wine

    Sorry if i've missed it but are you planning on moving to Devon?
    Mortgage: £140,000 £71,759.31
    Credit Card 1 8/7/17: £2771 £2,452
    No buying new clothes from 16/07/2017
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