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  • FIRST POST
    • VintageHistorian
    • By VintageHistorian 1st Jan 17, 10:04 AM
    • 290Posts
    • 1,992Thanks
    VintageHistorian
    Bricks Not Books
    • #1
    • 1st Jan 17, 10:04 AM
    Bricks Not Books 1st Jan 17 at 10:04 AM
    The first day of a New Year seems like the best time to start this diary! I was on this board under another name for a number of years, but I felt like a change of name as well as a change of diary, so here I am!

    Completed on new home with OH in December, we haven't even owned it for a month yet. But we have a mortgage of £160k and we both hate being in debt, so we've already made plans to start overpaying. OH isn't in the best paid job (Civil Service) and I'm on a temporary contract, albeit with a manager who is keen to keep me on, but I hate the uncertainty of it. So I'm definitely going to be job hunting, and he will be too in coming months.

    Mr VH has never lived away from home before. I moved away at university, moved back after graduation, moved out a few years later and spent 4 years as a lodger in a flat in London with a lovely couple, and then moved back with parents again. I've spent over a year sleeping on a sofa there as what was meant to be "temporary while we look for a place to rent" turned in to "let's buy a house together". Had a bit of a nightmare with the purchase, and we're still not actually in the house properly as it needs some work done on it. We've got a 5 year fix from Halifax at 2.74%, with monthly payments that are affordable. As we've never owned property before and it's been years since I had to work out budgets for bills (been paying all-inclusive rent at London and with parents) we decided to err on the side of caution. We set ourselves a realistic amount for repaying the mortage each month, and the one we eventually got came in £30 under that amount. So we're already going to OP £30 as our budget allows us that flexibility.

    But even though we're not under the roof yet we still have a mortgage to pay XD First payment comes out in 3 days time and then we're on the path to 29 years of a mortgage. I'm 31 and OH will be 30 in a few months, and this is our first home. Not a forever home, we don't have children yet but want them in the future and this place is just about big enough for small ones, but would be cramped for older children.

    Our house is currently going through some work due to years of being a student let, the last owners were intent on bleeding the place dry and then dumping it. We're going to look after this place, but it's taken up a lot of our savings. I've factored rebuilding the savings in to our budget, and also set up a spreadsheet to see the impact our OPs will have on the term, daily and monthly interest.

    So our targets to start with are;
    • Build an emergency fund of £1000
    • Match the budgeted £30 a month overpayment through wombling, discounts, roadkill, earning extra pennies, saving loose change, and Tilly Tidies, so we’ll aim to be OPing over £60 a month.
    • Drop below the £155k mark by January 2017.
    • Enjoy living in our new home together

    Fun Numbers;
    - Without overpaying we’ll go under £155k in May 2017.
    - With £60 a month OPing we’ll go under £155k in February 2017 – only need a little extra stretch to remove that last month!
    - Without overpaying we’ll drop under £11 daily interest in August 2020!
    - With £60 a month OPing we’ll drop under £11 daily interest in February 2020.
    - Without overpaying we’ll take 29 years to pay off the mortgage.
    - With £60 a month OPing we’ll take 25 years to pay off the mortgage!
    - In order to pay it off in 20 years we’d need to OP £200 a month.
    - If we OP by the monthly interest (c. £320 a month) we’d pay it all off in…16 years!

    I think we’ll stick with £60 for now XD

    And as for the diary title - between me and OH we practically own a library Need to cut back on paper purchases in favour of paying off more of the house!
    "You won't bloom until you're planted" - Graffiti spotted in Newcastle.

    Always try to be nice, but never fail to be kind - Doctor Who

    Overpayments in 2018 - £64.29 | Lose 1 stone - 0/14lbs |
Page 7
    • savingwannabe
    • By savingwannabe 13th Feb 18, 7:46 PM
    • 13,112 Posts
    • 46,662 Thanks
    savingwannabe
    I'm so glad you had a good month. Well done on the OP and getting the house together. It's great. I can't wait till the weather improves and we can garden. It is so cheery.
    Happiness Fund (Dec 1st 2017)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • VintageHistorian
    • By VintageHistorian 18th Feb 18, 9:16 PM
    • 290 Posts
    • 1,992 Thanks
    VintageHistorian
    Have been bad about spending money this week. Bought some garden bulbs for £10 that I saw on the MSE newsletter, and spent some money stocking up on toiletries in Boots as I had a triple points voucher Then checked my bank account this evening and realised I had even less money than I thought I should have. Eventually realised, after scrolling through my transaction history, that I've double OP-ed our standard £30 this month! I forgot I sent it at the start of the month, and sent it again last week.

    So on the plus side we've OPed over £80 this month but on the other hand my account is looking a bit sorry for itself.

    Went to the garden centre yesterday and bought some garden bits; two violas for the hanging baskets and four terracotta pots to start planting the bulbs in. Got some of it started yesterday afternoon but ran out of compost so need to buy some of that before I plant out more. Also realised that the lavender I managed to keep alive last year is now waterlogged and I can't work out how to drain it, so I think that may end up a winter casualty Not to self - buy proper terracotta pots with proper drainage next year!

    The gardening spends yesterday came to just over £10 so I used some of my "Miscellaneous" cash fund for that.

    Today me and DH had lunch out with the in-laws. Had a lovely Sunday roast in a nice pub, roast beef for me, with 3/4s of my MIL's Yorkshire Pudding (she gets full up easily and can't eat much gluten) and some extra pigs in blankets on the side. Then had a chocolate brownie sundae for dessert, but DH had to finish off the last few spoonfuls as I was stuffed. Lovely meal though, need to remember to leave them some positive feedback on Facebook later.

    This week I need to be strict about my spending. Cash only, if I don't want to part with the cash then I don't want to buy whatever I'm looking at. Will try to walk around the shops on my lunch break without actually walking in to them.

    Oh and despite my hopes this week was not great for traffic, almost every journey was delayed or diverted by an accident or a breakdown (other people's) so that I only really had one good journey in to work and one good journey home. Bit of a waste of a half term really.

    Have a lovely week everyone!
    "You won't bloom until you're planted" - Graffiti spotted in Newcastle.

    Always try to be nice, but never fail to be kind - Doctor Who

    Overpayments in 2018 - £64.29 | Lose 1 stone - 0/14lbs |
    • muddywhitechicken
    • By muddywhitechicken 18th Feb 18, 9:30 PM
    • 3,878 Posts
    • 35,680 Thanks
    muddywhitechicken
    Oh and despite my hopes this week was not great for traffic, almost every journey was delayed or diverted by an accident or a breakdown (other people's) so that I only really had one good journey in to work and one good journey home. Bit of a waste of a half term really.
    Originally posted by VintageHistorian
    Bummer! I must have struck lucky <35 minutes every day instead of 50-60 minutes
    Mortgage at highest (April 2008): ~£195,000
    Outstanding balance: ~£38,500
    Current total overpayments: ~£119,750
    • VintageHistorian
    • By VintageHistorian 18th Feb 18, 9:35 PM
    • 290 Posts
    • 1,992 Thanks
    VintageHistorian
    Bummer! I must have struck lucky <35 minutes every day instead of 50-60 minutes
    Originally posted by muddywhitechicken
    I have traffic envy MWC I was quite unlucky on Tuesday (I think it was Tuesday) as my journey in included a bad accident on the A120 near Great Dunmow, which is the first proper accident I've been caught in the congestion for on that road.

    On the plus side my journeys home are a bit lighter so I'm getting some nice sunsets over the Essex countryside when I take my "M11 is !!!!!!ed" route.
    "You won't bloom until you're planted" - Graffiti spotted in Newcastle.

    Always try to be nice, but never fail to be kind - Doctor Who

    Overpayments in 2018 - £64.29 | Lose 1 stone - 0/14lbs |
    • savingwannabe
    • By savingwannabe 19th Feb 18, 6:37 AM
    • 13,112 Posts
    • 46,662 Thanks
    savingwannabe
    You lot and your traffic envy you're making me laugh. lol. Well done on new plants. I wonder if you have the time to repot the lavender? I too have non holey pots and think I am going to risk leaving it. I am sure the weather will sort itself out eventually.

    A double overpayment. Maybe you wont have to make one next month? That dinner sounds sublime.

    Have a good week.
    Happiness Fund (Dec 1st 2017)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • Fortune Smiles
    • By Fortune Smiles 19th Feb 18, 7:10 AM
    • 2,676 Posts
    • 22,185 Thanks
    Fortune Smiles
    Move to The Shire, no traffic here ...... I mean, no, don't move to The Shire, what am I saying

    Fortune x
    Mortgage: 3.2% paid House Deposit Contribution: 96% Emergency Fund: 58%

    All we have to decide is what to do with the time that is given to us - J R R Tolkein
    • muddywhitechicken
    • By muddywhitechicken 19th Feb 18, 9:02 AM
    • 3,878 Posts
    • 35,680 Thanks
    muddywhitechicken


    My commute takes me through two shires... and the traffic is terrible in both of them!
    Mortgage at highest (April 2008): ~£195,000
    Outstanding balance: ~£38,500
    Current total overpayments: ~£119,750
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