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  • FIRST POST
    • Jessy103
    • By Jessy103 17th Oct 16, 12:00 PM
    • 467Posts
    • 1,976Thanks
    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 16
    • Jessy103
    • By Jessy103 21st Aug 17, 1:41 PM
    • 467 Posts
    • 1,976 Thanks
    Jessy103
    Thanks Ch4rly!

    Oh right I never thought of that! The reason I wanted paypal was because I had heard a few horror stories of people saying they'll pay cash on collection, going to collect the item, assaulting the seller and then running off with the item!! I guess both ways has it's disadvantages! I might take a sneaky photo of them leaving with the bike! Lol! x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
    • themadvix
    • By themadvix 22nd Aug 17, 11:14 AM
    • 1,125 Posts
    • 6,482 Thanks
    themadvix
    Impressive cross stitch, Jess, that must have taken a while!
    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 22nd Aug 17, 11:26 AM
    • 467 Posts
    • 1,976 Thanks
    Jessy103
    Thanks MV! Yet it did! I thought 'Oh I can do this one, it's only a few colours!' It took me a few weeks! Lol!
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
    • themadvix
    • By themadvix 23rd Aug 17, 8:43 AM
    • 1,125 Posts
    • 6,482 Thanks
    themadvix
    Make sure you send it to someone who'll appreciate the hours put in then!

    I came over here to say I've worked out how to ring every last penny from the virtual mastercard thing.... I've just used another (normal) card to top my Am gift card balance up to exactly the amount needed to fulfil the order value (i.e. I had a GC balance of £11, a prepaid card balance of £8.34 and the total bill was £22.38, so I've topped up my GC balance using my proper cc by £3.04). It's just gone through, so I think I've cracked it! Thought it might be worth sharing with you as you said you'd got a couple of quid left on one. It does require you to need an Amazon order, and it's fiddly and I won't be doing it again, but at least it means all that hard-earned surveying money gets used!

    DH has just pointed out I could have used the mastercard to top up my balance.... that would have been easier!!

    HTH,
    Vix
    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 23rd Aug 17, 9:40 AM
    • 467 Posts
    • 1,976 Thanks
    Jessy103
    The card is for my grandparents so I'm sure they'll appreciate the effort!

    MV you are a star!! I never thought about that! I will make sure I look at doing that next time I order something! I picked the mastercard over a cheque because I thought it would be easier and I'd get it straight away, I think I'll wait for the cheque next time!! x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
    • Jessy103
    • By Jessy103 26th Aug 17, 12:37 PM
    • 467 Posts
    • 1,976 Thanks
    Jessy103
    The normal mortgage payment came out yesterday which includes an overpayment of £50 and takes our new total to £62,474.00. When the interest is added on I'll look at doing an overpayment but that's not until the 9th September so I'll just have to have some patience until then! I did get a letter from Natwest the other day which told me my overpayment allowance for the year, this has never happened in the 10 years we've been in this house so I think they must know I mean business with paying off my mortgage asap!

    Finally got my Onepoll payment of £40 today which I will put into the savings pot as we are nearly at £3000!

    I also got the pet insurance renewal for my two puppers and it's gone up £80 for the year!!!! I will definitely be doing some comparison searches and changing providers! I'll make sure I call them to cancel the policy though because they may offer to match the new price. Well that's what happened with DH's car insurance anyway! Cheeky beggers!

    Have a lovely weekend!
    Jess x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
    • FloppyDisk
    • By FloppyDisk 31st Aug 17, 2:50 PM
    • 493 Posts
    • 3,684 Thanks
    FloppyDisk
    Good luck negotiating the pet insurance down. As bothersome as it is, it is worth having when you need it!
    July 2012 £139,642 / Nov 2017 £111,504
    EF - £11,504/£25,000
    • Jessy103
    • By Jessy103 11th Sep 17, 10:02 AM
    • 467 Posts
    • 1,976 Thanks
    Jessy103
    The interest for the mortgage was added on the other day and took the total to £62,627.22. I've called and made an overpayment of £127.22 which means the new total will be £62,500.00. It's not as much as I wanted to overpay but we had an unexpected expense of a new computer for DH, he's a big gamer and his current one is no longer doing the job! He also needed a new chair and monitor to go with it. We don't have a lot of treats so it's not money I begrudge spending but unfortunately it has eaten into out emergency fund so mortgage overpayments will only be small until we get it back up.

    Still soldiering on with the surveys but they seem to have been abit slow lately and I haven't been able to cash out recently!

    Have a lovely week!
    Jess x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
    • ch4rly2002
    • By ch4rly2002 11th Sep 17, 10:39 AM
    • 242 Posts
    • 1,021 Thanks
    ch4rly2002
    I totally get what you mean about DH being a gamer and equipment not cutting it anymore. My husband's the same, very few things he spends his money on so I don't begrudge him the odd things he wants to purchase.

    I've found Prolific to be very slow at the moment but I wondered if that's because it's academic research and the schools and unis closed for summer. Might start to pick up soon?
    Savings: Aim £13.5k. Dec 2016 £1,700 / Current £11,200
    Mortgage: Dec 2014 -£216,000 / Current -£195,420
    BTL Mortgage: Dec 2014 -£136,000/ Current -£124,790
    CC 0%: Nov 2016 -£4,500 / Current -£3,471.37
    Loan to In-Laws: Sep 2010 -£48,185.82 / Current -£31,565.49
    Student Loan: March 2011 -£18,275.04 / 29th April 2017 -£14,003.85
    • Jessy103
    • By Jessy103 11th Sep 17, 10:49 AM
    • 467 Posts
    • 1,976 Thanks
    Jessy103
    I'm glad I'm not the only one that loses a husband to computer games! lol!

    Oh yeah I didn't think about that! Fingers crossed they pick up soon, need the money! x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
    • fiona100
    • By fiona100 12th Sep 17, 9:15 AM
    • 20 Posts
    • 32 Thanks
    fiona100
    Hi.

    Just dropping by to say thank you - you are inspiring! On both the Crafting and the mortgage over payments.


    Sorry I have been lurking about trying to get extra tips to get my mortgage ops back on track, and will be back. Many thanks for the push in the right direction.

    I wandered into the Crafting board here, and I am attempting to use up my stash before spending more. It all helps toward the end of the mortgage.

    Thanks Fiona
    • Jessy103
    • By Jessy103 12th Sep 17, 11:16 AM
    • 467 Posts
    • 1,976 Thanks
    Jessy103
    Hi.

    Just dropping by to say thank you - you are inspiring! On both the Crafting and the mortgage over payments.


    Sorry I have been lurking about trying to get extra tips to get my mortgage ops back on track, and will be back. Many thanks for the push in the right direction.

    I wandered into the Crafting board here, and I am attempting to use up my stash before spending more. It all helps toward the end of the mortgage.

    Thanks Fiona
    Originally posted by fiona100
    Hi Fiona,

    Thank you so much, that is a lovely thing to say and I really appreciate it! Do you have your own diary? It's a great way to keep you motivated and you'll be able to show me your craft-work!

    Thanks again! x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
    • fiona100
    • By fiona100 12th Sep 17, 11:27 AM
    • 20 Posts
    • 32 Thanks
    fiona100
    Thanks, I haven't got a diary on here yet. I find it hard to catch up with those diaries I have decided to follow. I plan to eventually upload my photos to the craft stash post. When I get around to it.
    Cheers Fiona
    • Thistlewhistle
    • By Thistlewhistle 12th Sep 17, 12:08 PM
    • 1,017 Posts
    • 7,208 Thanks
    Thistlewhistle
    Hi Jessy,

    Been reading up on your diary this morning whilst enjoying a duvet morning! I'll be subscribing!

    I'm back on the forum after a few months off (stress!!) but I've taken big steps to sort that out so I'm back in the land of the money saver now.

    I'm like you in that I bought my house in 2007 and it's only just getting back to being what I paid for it which is annoying but I've cleared off nearly £20k in 10 years so I'm please with that.
    I too overpay my mortgage by about £180 per month and I'm chuffed because at the end of September, when the interest is added, I'll be sub £74k for the first time. Whoop whoop!! Another £1k gone forever.

    Look forward to following your journey!!

    Thistle
    Mortgage at end 05/2007: £90,200
    Mortgage at end 08/2017: £74,230 paid £15,970 (17.70%)
    MFD: Original:05/2042 Projected:08/2031 saving 10yr 9 mth

    CC Debt (0% until 06/2020): £5,640 : £2,369 to go (40% cleared)To clear by 12/2017 or sooner!
    Dave Ramsey Baby Step #1: £0,322/£1,000 (32.2%)

    Age of Money at 31/03/2017 = 40 days

    YNAB is changing the way I live my life....and spend my money!!
    • Jessy103
    • By Jessy103 13th Sep 17, 10:33 AM
    • 467 Posts
    • 1,976 Thanks
    Jessy103
    Thanks Thistle! Congratulations on getting to £74K!!! Yeah it seems we have paid off similar amounts over the past 10 years and fingers crossed we can push that further so we can be mortgage free asap!! I'll come find your diary so I can follow your journey too!
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
    • Jessy103
    • By Jessy103 25th Sep 17, 12:29 PM
    • 467 Posts
    • 1,976 Thanks
    Jessy103
    The usual mortgage payment of £326 went out today and the new amount is £62,174. I'm really tempted to take some money out of savings and make an overpayment so that I'm under £62k but after the hit our savings took last month I'm not sure if that is really a good idea!!

    Shopping has been delivered and was down to £89 for two weeks! Very pleased with this!

    DH contacted Sky about faster broadband which has now been sorted and works out at £9 cheaper a month! I really don't understand how these companies work out these prices and how they can be so blooming cheeky and keep putting prices up for loyal customers that are on a lesser package!

    Still cracking on with making my own birthday cards which is saving me some money each month! I also bought a few Christmas presents this week so I can spread the cost over the next few months, unfortunately my 'Christmas fund' got used for DH's new computer so spreading the cost is the best idea!

    Have a lovely week!
    Jess x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
    • ch4rly2002
    • By ch4rly2002 5th Oct 17, 11:43 AM
    • 242 Posts
    • 1,021 Thanks
    ch4rly2002
    I totally agree regarding Sky. I've always had to ring them every year to negotiate a better package because the price is about to sky rocket and even their new 'best deal' is more than new customer offers. This year they wouldn't negotiate a better deal at all so I left and went to Virgin. I am now constantly bombarded with post and emails from Sky with "Last chance to get this fantastic offer". I'm seriously considering not bothering going back to Sky but I guess it depends what Virgin want to charge when my current deal ends. Loyalty buys you nothing with these companies!
    Savings: Aim £13.5k. Dec 2016 £1,700 / Current £11,200
    Mortgage: Dec 2014 -£216,000 / Current -£195,420
    BTL Mortgage: Dec 2014 -£136,000/ Current -£124,790
    CC 0%: Nov 2016 -£4,500 / Current -£3,471.37
    Loan to In-Laws: Sep 2010 -£48,185.82 / Current -£31,565.49
    Student Loan: March 2011 -£18,275.04 / 29th April 2017 -£14,003.85
    • Jessy103
    • By Jessy103 20th Oct 17, 6:16 PM
    • 467 Posts
    • 1,976 Thanks
    Jessy103
    This week was my one year anniversary of being a MFW!!! To celebrate the occasion I have made an overpayment of £331.61 and been able to cross another box off my chart! These are my figures after a year:

    £70,486.38 - This was my mortgage amount when I started my diary 17/10/16
    £61,990.00 - This is my mortgage amount today after making the overpayment of £331.61.
    £8,496.38 - This is the total amount paid off the mortgage in the past year!

    I'm both pleased and disappointed with the £8,496.38 if I'm honest. On the one hand it's a great figure, especially when you take into consideration I'm not working at the moment and only make some money from surveys but on the other hand I would have liked it to be £10K.

    I'm hoping that DH will get his Christmas bonus again this year so that we will be able to take the mortgage under the £60K mark by New Years and reach the target we have set. Fingers crossed!

    I have been feeling abit fed up lately and takeaways have been eaten in abundance I'm ashamed to say but today I feel alot better and hopefully I'm back on track.

    I've bought some Christmas presents with my Boots points which have been delivered and wrapped! I've also been cross-stitching like a mad woman and making them into Christmas cards for special family members who I know will appreciate them. I'm also going to make my own Christmas cards on the computer for other family and friends and then just buy a cheap box of cards for DH's work colleagues to save some money.

    I've been having a few issues with the Gas/Electric company regarding the meter readings I've submitted online as it seems they don't believe me! Lol! After every one I've submitted over the past few months I've been sent an email saying that it's not what they expected and I've not used as much energy as they have estimated. I've then had to mess about taking photos of the meters and emailing them to the company to prove I'm right! Don't they know I live in Yorkshire, that I am married to a Yorkshireman and so the heating won't go on until November!

    Hope you have a lovely weekend!
    Jess x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
    • themadvix
    • By themadvix 21st Oct 17, 11:36 AM
    • 1,125 Posts
    • 6,482 Thanks
    themadvix
    Hey Jess, it's good to hear from you - I had noticed you'd not been about.

    I think you should be really proud of your achievements this year - £8k+ is a huge amount to knock off the mortgage! I'm sure you'll make your target by New Year
    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 21st Oct 17, 12:23 PM
    • 467 Posts
    • 1,976 Thanks
    Jessy103
    Thanks MV I really appreciate it!
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£4,060.70
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61
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