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    • Schoolworker
    • By Schoolworker 15th Nov 16, 1:14 PM
    • 89Posts
    • 130Thanks
    Schoolworker
    Aim to get mortgage down before increasing again
    • #1
    • 15th Nov 16, 1:14 PM
    Aim to get mortgage down before increasing again 15th Nov 16 at 1:14 PM
    Hiya I had joined years back but in the last year been reading most of the diaries re trying to get your mortgage. I have been overpaying the mortgage for the last ten years and managed to overpay over 20k. I want to note my progress as trying to get mortgage down as much as possible before borrowing more money for a 2 Storey extension.

    We moved into our 3 bed detached 6years ago and had a mortgage of roughly 110 but to date I have managed to get this down to 60450 approx. I am overpaying 200 per month as this is ok does not affect family life otherwise husband would say something but he is happy that I am doing this. Trying to continue to put more money into our savings so that we have some money to contribute to the extension cost as well as trying to get the mortgage down to 58k or lower.

    I'm 42 with Hubble 39 and 2 kids 9 and nearly 5. We are awaiting to hear if we have planning for the rear extension and then will have to see if passed by building control afterwards and then approach our mortgage lender to see if they will allow us extra borrowing of roughly 60k. This will take up up to a higher figure than I would like but I will plod along and see how it goes,

    We are on a 5yr fixed which we took out last June at a rate of 2.34%.

    Been doing Tilly tally every Sunday and it all adds up and will transfer the extra money to the mortgage and see what else I can do to bring it down before we have to increase.

    Will try to keep you posted.
Page 3
    • Schoolworker
    • By Schoolworker 13th Apr 17, 9:45 AM
    • 89 Posts
    • 130 Thanks
    Schoolworker
    Managing to survive the Easter holidays with the kids and spending a bit of money. So much for not spending money and not going on holidays. Got 4 stays always booked plus another one to be booked with my family for big birthdays in the family, dad and my 2 brothers and my hubbie.

    Builder due to cone to visit on Tuesday night to speak to hubbie and we can find out when worjs can start - then I xsn contact lender to book an appointment to sort out extra borrowing.
    Need to start looking at kitchen ideas as no idea where to start and what's available as I believe they have a long lead in time so will probably need to order when build work start so no holds up - famous last words
    Awaiting hubbie expenses and a refund of tickets so maybe a bit can go on the mortgage and try to put the rest into our savings. Trying to save up 20k to use for contingencies and decoration of the house after build works as well as have money for any other emergencies - not going fast enough for me. Fingers crossed it works out for July time
    Away out to swimming now with the kids.
    • Schoolworker
    • By Schoolworker 15th Apr 17, 1:09 PM
    • 89 Posts
    • 130 Thanks
    Schoolworker
    Grocery spend for April so far is 222.97 so will see what is spent next week and the following weekend we are away at a lodge so not sure if to factor in what we spend as away with another couple and their dogs as well as taking some stuff with us is cereal, juice, snacks, etc but dinner stuff will be bought when needed.
    Hubbiw got another builder to come to see us a week on Tuesday and then we can decide who does the work and when. Builder 2 is a someone our archite t knows but just went into business so not too sure about this.
    Off out for dinner with friends and kids at grans and then collect them tomorriw and go to a park to roll our eggs and have a picnic - fingers crossed its mainly dry tomorrow.
    • Schoolworker
    • By Schoolworker 15th Apr 17, 1:10 PM
    • 89 Posts
    • 130 Thanks
    Schoolworker
    Grocery spend for April so far is 222.97 so will see what is spent next week and the following weekend we are away at a lodge so not sure if to factor in what we spend as away with another couple and their dogs as well as taking some stuff with us is cereal, juice, snacks, etc but dinner stuff will be bought when needed.

    Hubbie got another builder to come to see us a week on Tuesday and then we can decide who does the work and when. Builder 2 is a someone our architect knows but just went into business so not too sure about this.

    Off out for dinner with friends and kids at grans and then collect them tomorriw and go to a park to roll our eggs and have a picnic - fingers crossed its mainly dry tomorrow.
    • Schoolworker
    • By Schoolworker 1st May 17, 7:56 PM
    • 89 Posts
    • 130 Thanks
    Schoolworker
    Need to work out grocery spends for April as it fell by the wayside but I have receipts so will try to work out.

    Just back from weekend away with friends and it was great. Dry weather and got in the hot tub twice whilst away.

    Still waiting estimate of works from builder 2 and then can make our decision after we have been to our local nw branch on 16rh may to find out If we will get more money for our extension. Need to look out all paperwork that they are requesting we take with us.

    Hubbie got a nice bonus so putting into savings in case we need this over above the amount we will be requesting. Only going to overpay mortgage by 220 this month and put more money into our savings to use. Since not sure if I should continue to overpay as it was going against us but will see what they say when we visit them in may.
    • Schoolworker
    • By Schoolworker 6th May 17, 8:26 AM
    • 89 Posts
    • 130 Thanks
    Schoolworker
    Made an overpayment the other day of 220. Whilst in branch spoke to mortgage advisor who we will be seeing to find out what paperwork to take with us on 16th may. I got an email from them with a big list of paperwork to take but do not need all this.
    Mortgage advisor phoned me in the afternoon and we got the mortgage in principal so we know the meeting is OK to go ahead with.
    Byulder2 due to send estimate next week and will see what it is. Not contacting any builder until after mortgage meeting.

    I think we are nearly at my savings target for contingency and extra spends so will continue to do this until we know when works will start. Hoping this will be sorted out this month and start august.

    Off out to meet friends today at a park with picnic so should be good.
    Grocery spends for April was 310.50. I'm not sure I think it was a 5 week month and had extra alcohol drinks bought for our weekend away last weekend which was great and we all enjoyed that there's talk of going back there next year with the couple and their 2 dogs.
    • Schoolworker
    • By Schoolworker 13th May 17, 4:57 PM
    • 89 Posts
    • 130 Thanks
    Schoolworker
    Grocery spends currently stands at 194.80. Got my deal from Iceland so they are giving me 12 on my bonus card plus I have 11 saved do after 20th may I have 23 to spend as free on my groceries. Looking forward to using it

    Going to mortgage advisor on Tuesday so me and hubbie have to talk about what product we are thinking of of g for and then we can discuss the full details with the advisor.

    Not heard from builder 2 yet - not chasing this up so will probably go with builder 1 and believe they are reasonable price. Then the homework will to price up kitchen and bathroom fittings to see if I have budgeted the right price for this
    I nominated myself for the secretary role of my kids PTA.
    Off out to friends with the kids for a takeaway and drinks tonight.
    • Schoolworker
    • By Schoolworker 18th May 17, 10:13 PM
    • 89 Posts
    • 130 Thanks
    Schoolworker
    Completed the application for extra borrowing on Tuesday and will find in the next several weeks if passed by the underwriters.

    Spoke to our builder and have discussed a start date of 28th August. Aim for the next 3 months if to continue to overpay my smaller amount and continue to put money away in savings in case needed. Will need to start to do my homework of looking at kitchens and bathrooms etc. Exciting times ahead and no doubt stressful times also. Good friends who live round the corner are willing to put us up for several weeks when they do the break through.

    Notified by about needing to move a telephone line which goes across our airspace to our neighbours house. They were due to do this work yesterday but went to the wrong neighbour so Hubble needs to reorganise this work to do done prior to end August,
    • Schoolworker
    • By Schoolworker 18th May 17, 10:18 PM
    • 89 Posts
    • 130 Thanks
    Schoolworker
    Busy weekend ahead as out to theatre with daughter and friend and her daughter to see grease, we are off out for dinner first and theatre on Saturday. Sunday - meeting up with a friend for friend at Pizza Hut for a long awaited catch up.

    Need to phone see to discuss them trying to increase my electricity by 4 - I know it not much of an increase but why when I'm in credit by 28. I will phone to discuss fully with them on Monday also got credit in gas of nearly 50 and they wAnt to reduce by 1 - not sure why they are suggesting this but will discuss on Monday.

    Need to buy a 60th present for a friends mum as going to a party soon - thinking cap on,
    • Schoolworker
    • By Schoolworker 22nd May 17, 10:10 AM
    • 89 Posts
    • 130 Thanks
    Schoolworker
    Well managed to get a 60th present for friends mum as its her party this Saturday. Bought a nice leather purse and sparkly bracelet ( which she can wear to several weddings she will be attending in the near future).

    Grocery spend for May is 241.07. I shopped at Liddell with a 5 off voucher and used some of my nectar points to get fruit. This coming Saturday will shop at Iceland use up my money on my bonus card which is 23 so hoping it will not be too much more. Off school with the kids on Friday and Monday so will see what we will do for very little money as not paid until next Wednesday and Thursday.
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