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    • Schoolworker
    • By Schoolworker 15th Nov 16, 1:14 PM
    • 161Posts
    • 366Thanks
    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.
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    • Schoolworker
    • By Schoolworker 12th Oct 17, 5:42 PM
    • 161 Posts
    • 366 Thanks
    Had meeting with tiler and builder last night. Lots of problem arose today which my dad and Hubble dealt with and it resolved but at a small extra cost. Roof was due to go on Friday but I believe it's now delayed until Monday. Builder has to form the ensuite room and get it knitted out ready for the tiler to do his work on Wednesday so that they can fit the shower etc later that week and then we can use this and they can demolish the old bathroom.

    Saturday after kids have their activities in the morning they are going to friends for a bit whilst we run about tile shop and the bathroom shop to pay and get the order ready for the builder to pick up. On Sunday will need to empty daughter room and go to get some stuff from Screwfix. It's going to be a hectic weekend and spending lots of money.
    • Jessy103
    • By Jessy103 13th Oct 17, 10:40 AM
    • 448 Posts
    • 1,889 Thanks
    Good luck for the weekend and hope it's all finished soon for you!
    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 15th Oct 17, 9:14 AM
    • 161 Posts
    • 366 Thanks
    Roof trusses arrived on Friday but they are too short so need to get new ones i believe Tuesday. Tiler has been put off this Wednesday as roof may not be on to next week.

    Spent lots of money yesterday on tiles and bathroom stuff. Also managed to look at lighting we may wish in bedrooms etc and we see if the kids like them yesterday before we buy them later in the week. Going to screwfix today to get an electric shower.

    We have been advised that the build maybe finished mid November - this was before some delays so hopefully still done in November.

    Emptying daughter's room and someone is coming to buy her big dolls house tonight.
    • Schoolworker
    • By Schoolworker 18th Oct 17, 9:50 PM
    • 161 Posts
    • 366 Thanks
    Roof trusses arrived and are on the house with the sheeting. The roofers ha e started to replace the old house tiles and tomorrow will do the new part of the house.

    Went to howden's and got a good deal on our kitchen. Trying to sort out when they can come out to check the sizes and check the kitchen layout is ok. Spent more money paying for the kitchen and several radiators as we wanted a tall fancy radiator for the new kitchen. It's coming together.

    Son put too much toilet paper down the toilet yesterday so it was blocked and the water rising. By the time I walked to the kitchen to get a plugger to fix it. The water had flooded o. The floor. It was fixed and mopped up the water with old towels due to be washed. Son was very sorry about it but these things happen.

    Kids are off school this week so we are going to get so hair cut in the morning and then going to a trampoline place in the afternoon where we will meet aunt and 3 nephews.
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