Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Jessy103
    • By Jessy103 17th Oct 16, 12:00 PM
    • 61Posts
    • 146Thanks
    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
Page 2
    • Jessy103
    • By Jessy103 18th Oct 16, 6:58 PM
    • 61 Posts
    • 146 Thanks
    Jessy103
    Overall a good day! Got lots of chores around the house done. My lovely neighbours gave me 8 eggs from their allotment chickens free of charge so we had omelette for tea. I don't know what it is but they tasted so much better than eggs from the supermarket!
    I checked paypal and we have been paid for an unwanted giftcard that we sold on a website called Zeek for a discount (It was a HMV voucher we got last Christmas for £20 and Zeek bought it for £15) so that's some money to put in the overpayment pot!
    I wrapped all the Christmas presents I'd bought and put them in bags ready to be dished out. Still a few left to buy but I'm keeping to a strict under £10 rule and will only spend more than this on my 3 nephews.


    Hopefully tomorrow will be a NSD. Have a lovely evening everyone!
    • atypicalblonde
    • By atypicalblonde 19th Oct 16, 7:24 AM
    • 1,611 Posts
    • 8,433 Thanks
    atypicalblonde
    Jessy - how old are your nephews? My nephews are 6 and 4, and my children are 4 and 2. Some of the best presents I have bought them have been from the £ shop - they really do have a fabulous range of fun stocking fillers for kiddies, including great sticker books, colouring books and craft supplies. Plus of course the obligatory selection box

    Your OH sounds similar to mine. He is very happy for me the run the finances, so long as he has some nice food in the fridge and a few beers he is a pretty happy chappy!

    Let us know how you get on speaking to the water company.
    MFW
    Mortgage 8.2.15 - £171,064.64 Mortgage 3.11.16 - £139,251.40
    • Jessy103
    • By Jessy103 19th Oct 16, 11:06 AM
    • 61 Posts
    • 146 Thanks
    Jessy103
    Jessy - how old are your nephews? My nephews are 6 and 4, and my children are 4 and 2. Some of the best presents I have bought them have been from the £ shop - they really do have a fabulous range of fun stocking fillers for kiddies, including great sticker books, colouring books and craft supplies. Plus of course the obligatory selection box

    Your OH sounds similar to mine. He is very happy for me the run the finances, so long as he has some nice food in the fridge and a few beers he is a pretty happy chappy!

    Let us know how you get on speaking to the water company.
    Originally posted by atypicalblonde

    Hi ATB! They are 8, 5 & 2, usually I get a rough idea what they are into at the moment (It's usually dinosaurs, superheroes and cars!) and pick something for them around that area! I never think about going to £ shop to be honest but from your recommendation and from what my neighbours have said I'm going to! I think the quality in them has got better over the years so will definitely have to have a look!
    Yes they do sound similar! Mine's that chilled out if he got any more laid back he'd be horizontal!
    Well I called Yorkshire Water and was advised that if I got a meter installed I would end up spending more money than what I am now!! I was abit shocked so I hung up and thought I'd try and do some research online to see if this is the case in my area! I wish you could swap water companies like you would gas and electric!


    Jess x
    • Jessy103
    • By Jessy103 19th Oct 16, 11:14 AM
    • 61 Posts
    • 146 Thanks
    Jessy103
    Just finished ordering my shopping for the next 2 weeks. I thought because I have it delivered at the moment it would be better to get 2 weeks shopping in one go to save on delivery charges. I managed to cut it down to under £100 including toiletries and the delivery charge so I'm pretty chuffed!
    I've done a TT of 62p to my savings so that takes us up to £2291.61. I would love to put it all towards the mortgage but we decided to build up the savings to the equivalent of 6 months wages as an emergency fund.


    Have a great day!
    Jess x
    • atypicalblonde
    • By atypicalblonde 19th Oct 16, 4:25 PM
    • 1,611 Posts
    • 8,433 Thanks
    atypicalblonde
    Jessy - I too am with Yorkshire Water and that sounds like an odd response. Perhaps you might be better emailing them, asking them to explain the rationale behind their answer over the phone. x

    ETA - Before we had kids, we were on a meter and our monthly spend was £18. I know the prices will have risen slightly since then but I would imagine your actual use would still be much lower than your rateable use x
    MFW
    Mortgage 8.2.15 - £171,064.64 Mortgage 3.11.16 - £139,251.40
    • Jessy103
    • By Jessy103 19th Oct 16, 5:32 PM
    • 61 Posts
    • 146 Thanks
    Jessy103
    Jessy - I too am with Yorkshire Water and that sounds like an odd response. Perhaps you might be better emailing them, asking them to explain the rationale behind their answer over the phone. x

    ETA - Before we had kids, we were on a meter and our monthly spend was £18. I know the prices will have risen slightly since then but I would imagine your actual use would still be much lower than your rateable use x
    Originally posted by atypicalblonde
    It was very strange because I asked her if she was sure and she said she'd checked the system and the average spend for a couple on a meter was about £392 p/a and we're paying about £280 p/a! Yes I think emailing them might be better and hopefully I'll get a different person! Lol! Why does everything have to be so difficult!
    • ScotinLondon
    • By ScotinLondon 19th Oct 16, 5:47 PM
    • 268 Posts
    • 3,019 Thanks
    ScotinLondon
    Evening, I've just started reading your diary. My DH also has MS and I totally understand what you mean about the unpredictability of this illness, but we do manage. I know that we are lucky, as he is still walking, talking etc but he is getting very tired more often than not these days.

    With regards to the changing water suppliers, i kind of do remember hearing something that the government is looking into letting consumers change water suppliers. I think that they are investigating or asked someone (a quango or ofwat) to investigate and report back.

    Anyway - i have subscribed.

    Good luck with your journey!

    SIL
    NSD J16 23/31; F16 19/29; M16 24/31; A16 24/30; M16 19/31; J16 20/30; J16 20/31; A16 25/31; S16 23/30; O16 24/31; N16 16/30
    GC Mar-Sept £868.45/£1,040; Sept/Oct £129.36/£140; Oct/Nov £99.52/£150.00
    CCC 2016 £40.43/£400
    • Jessy103
    • By Jessy103 19th Oct 16, 6:29 PM
    • 61 Posts
    • 146 Thanks
    Jessy103
    Evening, I've just started reading your diary. My DH also has MS and I totally understand what you mean about the unpredictability of this illness, but we do manage. I know that we are lucky, as he is still walking, talking etc but he is getting very tired more often than not these days.

    With regards to the changing water suppliers, i kind of do remember hearing something that the government is looking into letting consumers change water suppliers. I think that they are investigating or asked someone (a quango or ofwat) to investigate and report back.

    Anyway - i have subscribed.

    Good luck with your journey!

    SIL
    Originally posted by ScotinLondon

    Hi SIL! Thanks for reading! Sorry to hear about your DH. My mum is the same, she can still walk but only short distances with a stick, she has had the odd scary moment (she went in the bath and wasn't able to get back out for a few hours!) which has made me want to spend as much time with her as I can! Do you have a thread that I can subscribe to? I haven't quite got to grips with how everything works yet so I'm not sure how to search for you!


    I have just checked on http://www.ccwater.org.uk/watermetercalculator/ which calculates how much you would spend on a water meter and unfortunately it does say we would spend more on a meter than what we are doing now! I think it would be great if you could switch between suppliers and I'm sure it would make prices more competitive!


    Also forgot to put on my post earlier that when I made the overpayment to the mortgage the lady on the other end said 'Can I ask why you're make an overpayment on your mortgage today?'
    Can you believe it!! I replied 'Err because I want to and I like to see my mortgage figure go down'
    I really was tempted to say 'Why do you think ya daft c*w!!'
    • ScotinLondon
    • By ScotinLondon 19th Oct 16, 8:04 PM
    • 268 Posts
    • 3,019 Thanks
    ScotinLondon
    Evening..I don't have a diary. I won't be able to keep up at it.

    I do make overpayments every month and sometimes a bit over that too.

    I budget like crazy and have so many virtual savings pots and spread sheets it's crazy.

    I understand about the walking bit, DH can't walk that far either, so when we do go out, I have to work lots of public transport ways to help & of course taxis, which I know isn't mse but needs must.

    I am also very lucky too, that if I need a break, DH is able to go to his parents. I am glad of that it does help me keep sane and rested.

    I've kind of banned DH from having baths now. More showers but now we need to start thinking about putting handles near the shower so he use them to get in out of the bath when showering.

    Anyhoo, need to eat and then start studying again.

    SIL
    NSD J16 23/31; F16 19/29; M16 24/31; A16 24/30; M16 19/31; J16 20/30; J16 20/31; A16 25/31; S16 23/30; O16 24/31; N16 16/30
    GC Mar-Sept £868.45/£1,040; Sept/Oct £129.36/£140; Oct/Nov £99.52/£150.00
    CCC 2016 £40.43/£400
    • Jessy103
    • By Jessy103 19th Oct 16, 8:47 PM
    • 61 Posts
    • 146 Thanks
    Jessy103
    Evening..I don't have a diary. I won't be able to keep up at it.

    I do make overpayments every month and sometimes a bit over that too.

    I budget like crazy and have so many virtual savings pots and spread sheets it's crazy.

    I understand about the walking bit, DH can't walk that far either, so when we do go out, I have to work lots of public transport ways to help & of course taxis, which I know isn't mse but needs must.

    I am also very lucky too, that if I need a break, DH is able to go to his parents. I am glad of that it does help me keep sane and rested.

    I've kind of banned DH from having baths now. More showers but now we need to start thinking about putting handles near the shower so he use them to get in out of the bath when showering.

    Anyhoo, need to eat and then start studying again.

    SIL
    Originally posted by ScotinLondon
    Hi SIL. Thats good that you have support from his parents because you have to take care of yourself too! Good luck with your journey and keep me updated! X
    • Madcatgirl
    • By Madcatgirl 19th Oct 16, 9:05 PM
    • 299 Posts
    • 3,891 Thanks
    Madcatgirl
    Hiya - nice to read your diary. Looking t your soa the savings jumps out at me as well. Unless it's for a specific circumstance or your mortgage has a really low interest rate it's unlikely that you're getting a better rate saving than putting it to your mortgage. Maybe have a play around with the mortgage op calculator to see how much difference this will make. Good luck with the ops!
    March 2016 - £178,914.59; October 2016 balance £169,858.05
    Mortgage end date September 2043; Target - pay off by March 2026
    2016 overpayments £7,279.90Mini goal 50% ltv (c. £150,000) by September 2018
    • Jessy103
    • By Jessy103 19th Oct 16, 9:38 PM
    • 61 Posts
    • 146 Thanks
    Jessy103
    Hiya - nice to read your diary. Looking t your soa the savings jumps out at me as well. Unless it's for a specific circumstance or your mortgage has a really low interest rate it's unlikely that you're getting a better rate saving than putting it to your mortgage. Maybe have a play around with the mortgage op calculator to see how much difference this will make. Good luck with the ops!
    Originally posted by Madcatgirl
    Hi madcatgirl, thanks for reading! I completely agree with you! As we only have one income at the moment OH thought it best we should have an emergency fund just incase the unthinkable happens. I do see where he's coming from but I'm trying to convince him that maybe we don't need as much as 6 months wages! I will let you know if i manage to get round him! Lol!
    • Jessy103
    • By Jessy103 20th Oct 16, 8:50 PM
    • 61 Posts
    • 146 Thanks
    Jessy103
    Made an overpayment today of £80 so the new mortgage total is £70,200.00. Getting there slowly but surely!
    My shopping for the next two weeks has been delivered so the cupboards, fridge and freezer are bulging!
    I have also set up my new banking spreadsheet so I can watch what goes out the account like a hawk!


    Have a good evening!
    Jess x
    • Jessy103
    • By Jessy103 22nd Oct 16, 4:44 PM
    • 61 Posts
    • 146 Thanks
    Jessy103
    Met a friend this morning for coffee and breakfast but only spent £4.50 so not too bad really and the breakfast was lovely!
    I've had £10 come into my bank for completing surveys so that is going into the OP pot ready to make another payment to the mortgage in November.
    Not a lot else to report! Trying to have a quiet weekend so we don't spend a lot of money!


    Have a great weekend!
    Jess x
    • giblet1979
    • By giblet1979 22nd Oct 16, 6:33 PM
    • 846 Posts
    • 3,396 Thanks
    giblet1979
    Quiet weekends are the best x
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

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


    • Jessy103
    • By Jessy103 26th Oct 16, 9:12 PM
    • 61 Posts
    • 146 Thanks
    Jessy103
    Well, not a had great few days! I've pulled my back and have been in agony with it! Doctors gave me some painkillers but then they wiped me out so I haven't been very productive at all! I was so fed up we fell off the wagon and ordered takeaway for tea last night and then bought a big pizza from the supermarket tonight! Hopefully we will get back on the home cooking wagon tomorrow and after looking at my banking spreadsheet this evening we are still on track to make an OP of £300 mid November.
    On the plus side I've bought some more Christmas presents and I've requested £10 from one of my survey websites that should go into Paypal in a few days.
    Trying not to be too hard on myself for the spending as everyone has a slip up now and again!

    Have a lovely evening!
    Jess x
    • themadvix
    • By themadvix 27th Oct 16, 9:03 AM
    • 364 Posts
    • 1,274 Thanks
    themadvix
    Don't beat yourself up too much Jess, back pain is truly awful and £300 is still a great OP to make!

    Hope you're feeling better soon.
    OPs made 2016 = £5511.52
    Starting balance 2012: £132000; balance November 2016: £106,659
    • Jessy103
    • By Jessy103 27th Oct 16, 11:58 AM
    • 61 Posts
    • 146 Thanks
    Jessy103
    Don't beat yourself up too much Jess, back pain is truly awful and £300 is still a great OP to make!

    Hope you're feeling better soon.
    Originally posted by themadvix
    Thanks themadvix, I feel real sympathy for anyone who has to deal with back problems all the time because it really does mess you up!
    I am feeling a bit better today so I've managed to get a couple of little jobs done!
    One of my favourite jumpers had bobbles on it so I found a tip online saying to gently run a razor over the jumper to get rid of the bobbles and it does work! I also had a really sticky label on my new toilet from when we had our new bathroom fitted that I couldn't get off but I saw another tip online saying to put the hairdryer on it to heat up the glue and remove the label! Then any residue I was able to remove with a bit of nail polish remover on a cloth! Well chuffed!

    Have a great day everyone!
    Jess x
    • Maximum Saving
    • By Maximum Saving 27th Oct 16, 12:17 PM
    • 151 Posts
    • 253 Thanks
    Maximum Saving
    Hello. Good luck with your health. I began doing mortgage overpayments in 2013. Some money and more the next time add to reduce mortgage debt. Throughout 2015 I paid the maximum amount of overpayments. I am trying very hard to continue my overpayments. I am saving money to be able to pay off a lump sum on my mortgage though it has a 5% fee. My mortgage is approx £14,900.
    • Jessy103
    • By Jessy103 27th Oct 16, 12:38 PM
    • 61 Posts
    • 146 Thanks
    Jessy103
    Hello. Good luck with your health. I began doing mortgage overpayments in 2013. Some money and more the next time add to reduce mortgage debt. Throughout 2015 I paid the maximum amount of overpayments. I am trying very hard to continue my overpayments. I am saving money to be able to pay off a lump sum on my mortgage though it has a 5% fee. My mortgage is approx £14,900.
    Originally posted by Maximum Saving
    Thanks Maximum Saving. Well done with your payments and good luck with the rest of your MF journey!
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

4,627Posts Today

7,223Users online

Martin's Twitter
  • It's not fair or accurate to assign all leave voters (nor remainers) one voice. The vote may have been binary but t? https://t.co/QMqKrfY1jv

  • That's cos the UK voted for Brexit. The choice now unless something radical happens is what type. (Plus twitter o? https://t.co/SLmh2jL4bU

  • Todays twitter poll: The lib dem leader says more people now want soft brexit (ie still in single market etc) than hard - what do you want?

  • Follow Martin