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  • FIRST POST
    • Schoolworker
    • By Schoolworker 15th Nov 16, 1:14 PM
    • 161Posts
    • 366Thanks
    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
    • 161 Posts
    • 366 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
    • 161 Posts
    • 366 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
    • 161 Posts
    • 366 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
    • 161 Posts
    • 366 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
    • 161 Posts
    • 366 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
    • 161 Posts
    • 366 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
    • 161 Posts
    • 366 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
    • 161 Posts
    • 366 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
    • 161 Posts
    • 366 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.
    • Schoolworker
    • By Schoolworker 1st Jun 17, 7:52 PM
    • 161 Posts
    • 366 Thanks
    Schoolworker
    Can't believe it's the 1st of June and only 27 days until school finishes - earlier for me as I only work wed to Friday. Awaiting payment of cash back from my bank as I used our debit card at a supermarket in May so will transfer this and a few other pounds extra to the mortgage.

    Continuing to overpay. Trying to contact the builder as not received written letter from him with our start date. Awaiting decision from nationwide about if we get the extra borrowing. Friends of us have said that we can stay with them and in their house whilst they are away on holiday which will be great and much better for the kids.

    Dd has a gymnastic competition on Sunday so I will speculating this. Ds was at his school trip today at the puppet theatre in bigger and had a great time. Been rushing about sorting our daughters dress for our local gala day as she is the flower girl and we have lots of stuff to decorate the front of the house and garden. 2 weeks until the big day. The dress is lovely but needs some alterations.
    • Schoolworker
    • By Schoolworker 5th Jun 17, 9:39 AM
    • 161 Posts
    • 366 Thanks
    Schoolworker
    Hiya weekly shop for June so far is £109.59. I hope to pull this in over the next few weeks and still stay in budget.

    Spoke to builder after several missed calls and no reply to text or email and he has now sent an email to confirm start date. Will speak to him nearer the time as we want a payment/stage letter though I think he is reluctant to give this to us but will pester him in August nearer the time.

    Ds was very upset and did not go to sleep himself last night as talking about baddies coming to get him and him not wanting to be dead. I think he has spotted the news about the London attack and he is thinking about the attack in Manchester. What is the world coming to trying to console an upset 5yr old is about dying by baddies. I hope they do not discuss too much at school this week as they have for the previous attacks.

    Waiting for bt to move a line which is crossing our garden this morning so off to do some ironing whilst waiting for them.
    • Schoolworker
    • By Schoolworker 6th Jun 17, 5:48 PM
    • 161 Posts
    • 366 Thanks
    Schoolworker
    Bt out yesterday and took away our neighbours but phone line with their agreement of course so if they wish to go back to but in the future it will be a new installation. The phone line is no longer going over our back garden.

    Paid £220 as overpayment to mortgage today as well as putting some money in the savings in case we need this. I may be able to make another small overpayment in the month from Tilly tally money but will update you. This month need to start buying new school uniforms as this is when the sales as on so this will be an extra expense than usual.

    Had phoned call from nationwide to say that they need my payslips sent again to show my employers name on it so will download these and scan them to them from work tomorrow as our application in under full consideration and they need this information. I prevously printed off my payslips out with downloading them so lots of the information was not on this. Will see when we hear about this - this month hopefully.
    • Kittenkirst
    • By Kittenkirst 6th Jun 17, 9:02 PM
    • 1,593 Posts
    • 8,227 Thanks
    Kittenkirst
    That's a nice chunky OP there Schoolworker

    Bless your DS; hard to shield littlies from such horrible things when it's all over the tv news and the papers. Hope he's managed to get to sleep okay in the end last night?
    2017 MFW #20 - OP £1958.94/ £2150 91%
    Last 3 months- Jul £172.36 Aug: £212.52 Sep £206.32

    Emergency fund £3880/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • Schoolworker
    • By Schoolworker 16th Jun 17, 10:22 PM
    • 161 Posts
    • 366 Thanks
    Schoolworker
    Day off work today as doing stuff for the local gala day which is tomorrow and daughter is the flower girl so have decorated the house and garden in the smurfs theme - it looks great. Daughter is really excited about her big day and we will be up early for hair and make up.

    Going out for dinner at daughter choice restaurant tomorrow night.

    Did grocery shop today - will total up the spend to diate and report back in. Got father day present I as well as two kids presents. Next weekend will need to be low spend as not much money left in bank for the next 2 weeks.

    Got notification from lender that we have the extra money for our extension. I phoned up to say can they hold this money at the moment and will phone back in August to get money released before building works. It seems to be moving on slightly.

    Got appointment with wren kitchens to see what quote they can give us for a new kitchen in the extension next Sunday and then see if we get another quote to compare.
    • Kittenkirst
    • By Kittenkirst 16th Jun 17, 10:30 PM
    • 1,593 Posts
    • 8,227 Thanks
    Kittenkirst
    Enjoy the gala day tomorrow and hope your daughter enjoys
    2017 MFW #20 - OP £1958.94/ £2150 91%
    Last 3 months- Jul £172.36 Aug: £212.52 Sep £206.32

    Emergency fund £3880/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • Schoolworker
    • By Schoolworker 17th Jun 17, 4:41 PM
    • 161 Posts
    • 366 Thanks
    Schoolworker
    It was a great day and the gala party were very pretty and did well. The weather was great for this as its mostly outdoors. Relaxing a bit before going out for dinner. Hopefully sleep better tonight and not up early but it was worth it.
    • Schoolworker
    • By Schoolworker 25th Jun 17, 7:06 PM
    • 161 Posts
    • 366 Thanks
    Schoolworker
    Well last Saturday was really sunny at the gala so got really burnt badly on the back of my neck. Ended up going to pharamist to get stuff to help as really painfully. Its died down now which is good and its covered since temperature has went down a bit now.

    Grocery spend for June to date is £269.92 but may increase slightly as need to get more food for holiday box - due to go on holiday in 7 days time and looking forward to it. Only 1 more day of work on Wednesday before being off with the kids for 6-7weeks - hope weather is kind to us.

    We met up with a kitchen designer to see what design she would come up with for our new extended kitchen and get a cost. We believe its a great price for what we are getting so paid 10% deposit as deal was running out. Paid deposit on credit card and will see what other places are pricing up for us as we can go back to them to price match. Very happy with what we picked and so is hubbie - a few different ideas but we got to an agreement

    After holiday will need to price up bathroom and ensuite stuff as I only have estimates on my spreadsheet so I can get actual prices etc

    Bought quite a bit of the kids uniform as marks have the or discount on this. Will get other stuff after holidays and awaiting school shop stuff ordered to come in but this will be in July.
    • Jessy103
    • By Jessy103 25th Jun 17, 8:41 PM
    • 448 Posts
    • 1,889 Thanks
    Jessy103
    Hi! I too got burnt last week and I find an aloe vera aftersun gel that's been kept in the fridge is the most soothing! Good luck with the new kitchen!
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount July 2017 - £62,900.00
    Overpayment Target for 2017 - £5,000 /£3,679.09
    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
    • Schoolworker
    • By Schoolworker 25th Jun 17, 9:20 PM
    • 161 Posts
    • 366 Thanks
    Schoolworker
    Thanks jessie103. I did get aloe vera gel from the chemist and it was kept I. The fridge - it helped greatly and loads left for any other sunburn later In the sun.
    • Schoolworker
    • By Schoolworker 26th Jun 17, 1:19 PM
    • 161 Posts
    • 366 Thanks
    Schoolworker
    Bought stuff for holiday food box today so grocery amount for June has went up to £279.92 and still need to get kids juice.

    Paid another £35 towards the mortgage which is from Tilly tally and some cash for clothes money also. No more payments for June but I gave managed £255 which I think is fairly good.
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