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  • FIRST POST
    • tattycath
    • By tattycath 19th Apr 17, 5:51 PM
    • 6,743Posts
    • 35,478Thanks
    tattycath
    My big financial challenge to mortgage freedom
    • #1
    • 19th Apr 17, 5:51 PM
    My big financial challenge to mortgage freedom 19th Apr 17 at 5:51 PM
    I've been avidly paying off as much of the mortgage as I could for the last 8+ years, only...it wasn't my mortgage.
    Now we are parting ways and I'm ready for a new challenge.
    I need to get a mortgage-in the throes of, as we speak. Once I get it, I need to pay it off ASAP. It's more than 3 X the size of my ex partners mortgage.

    So, myself and Miss tc are buying a house together. (Trying to).
    We finally received documents to sign and the conveyancer wants the deposit. I'm hoping that we will be sorted and moved within a month.
    We are first time buyers and there is no chain.
    GE 36 *MFD
    MFIT-T4 No 106
    Mortgage overpayments:may £211.04
    May: £2.29 wombling: £0
    Emergency savings £0/£2000
    Savercard Christmas savings £60
    12/3/17 175lb - 15/3/17 173lb
Page 1
    • allmannerofthings
    • By allmannerofthings 19th Apr 17, 5:58 PM
    • 63 Posts
    • 344 Thanks
    allmannerofthings
    • #2
    • 19th Apr 17, 5:58 PM
    • #2
    • 19th Apr 17, 5:58 PM
    Exciting times, tattycath! I've just taken out a mortgage with my husband, first payment due later this month. I'm really keen to pay it off as soon as possible. Look forward to following your journey!
    Mortgage March 2017, £114.402.80/£115,000 end date 2031
    Overpayments 2017 £1710/Target £4820
    Next extra over payment of 1% £36.24/£1150
    Grocery Challenge May 2017 £387.42/240
    • tattycath
    • By tattycath 19th Apr 17, 5:59 PM
    • 6,743 Posts
    • 35,478 Thanks
    tattycath
    • #3
    • 19th Apr 17, 5:59 PM
    • #3
    • 19th Apr 17, 5:59 PM
    I've already been looking at overpayment calculators and juggling figures and trying to estimate bills etc.
    Even though We are only just signing contracts ready for exchange, I have made a start on trying to work out how we can cut costs and pay off extra every month.
    I have started saving on an asd@ savings card, ready for Christmas shop. We have £45 already.
    I went to asd@ the other day and picked up a couple of receipts off the floor in the carpark. I put them through the APG and they are worth over a fiver between them. So I'm saving them until we move ( hoping we have got sorted within the next 3 weeks). If we haven't, I will purchase some necessities that have a longer shelf life and save them until we move.
    GE 36 *MFD
    MFIT-T4 No 106
    Mortgage overpayments:may £211.04
    May: £2.29 wombling: £0
    Emergency savings £0/£2000
    Savercard Christmas savings £60
    12/3/17 175lb - 15/3/17 173lb
    • tattycath
    • By tattycath 19th Apr 17, 6:00 PM
    • 6,743 Posts
    • 35,478 Thanks
    tattycath
    • #4
    • 19th Apr 17, 6:00 PM
    • #4
    • 19th Apr 17, 6:00 PM
    Exciting times, tattycath! I've just taken out a mortgage with my husband, first payment due later this month. I'm really keen to pay it off as soon as possible. Look forward to following your journey!
    Originally posted by allmannerofthings
    Exciting times indeed! I saw your thread last night and subscribed as I'm keen to follow your journey too.
    GE 36 *MFD
    MFIT-T4 No 106
    Mortgage overpayments:may £211.04
    May: £2.29 wombling: £0
    Emergency savings £0/£2000
    Savercard Christmas savings £60
    12/3/17 175lb - 15/3/17 173lb
    • A Frayed Knot
    • By A Frayed Knot 19th Apr 17, 6:31 PM
    • 1,946 Posts
    • 8,875 Thanks
    A Frayed Knot
    • #5
    • 19th Apr 17, 6:31 PM
    • #5
    • 19th Apr 17, 6:31 PM
    Great changes afoot indeed. Sorry about the parting of ways, but sound as if you and miss tc have moved onwards and upwards.

    Here's to the next month with you both in your new place. And as always, Best wishes and Good Luck in your run up to your moving in date.

    Errr - what's APG
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/£4000, 2015/£6294.69,2016/£3186.80
    • tattycath
    • By tattycath 19th Apr 17, 7:10 PM
    • 6,743 Posts
    • 35,478 Thanks
    tattycath
    • #6
    • 19th Apr 17, 7:10 PM
    • #6
    • 19th Apr 17, 7:10 PM
    Great changes afoot indeed. Sorry about the parting of ways, but sound as if you and miss tc have moved onwards and upwards.

    Here's to the next month with you both in your new place. And as always, Best wishes and Good Luck in your run up to your moving in date.

    Errr - what's APG
    Originally posted by A Frayed Knot
    Thank you AFK. Looking forward to new adventures. Onwards and upwards.

    Asd@ pr!ce guar@ntee
    GE 36 *MFD
    MFIT-T4 No 106
    Mortgage overpayments:may £211.04
    May: £2.29 wombling: £0
    Emergency savings £0/£2000
    Savercard Christmas savings £60
    12/3/17 175lb - 15/3/17 173lb
    • greent
    • By greent 19th Apr 17, 8:41 PM
    • 5,818 Posts
    • 58,754 Thanks
    greent
    • #7
    • 19th Apr 17, 8:41 PM
    • #7
    • 19th Apr 17, 8:41 PM
    Shiny new diary! Hoping it all goes as smoothly as possible, tc - and that you and miss tc are ensconced in your new abode asap
    xx
    Repaid mtge early (orig end 11/25) Bal 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    Next up: BTL Mtge 12/16 Bal £69786. 2017 OP target (#18) £2000/£3286
    Net sales 2017 £457.00/£500 PAYDOX17 £9435/£10k Decluttered 750/2017 items
    • tattycath
    • By tattycath 19th Apr 17, 8:53 PM
    • 6,743 Posts
    • 35,478 Thanks
    tattycath
    • #8
    • 19th Apr 17, 8:53 PM
    • #8
    • 19th Apr 17, 8:53 PM
    Shiny new diary! Hoping it all goes as smoothly as possible, tc - and that you and miss tc are ensconced in your new abode asap
    xx
    Originally posted by greent
    Thanks greent.
    GE 36 *MFD
    MFIT-T4 No 106
    Mortgage overpayments:may £211.04
    May: £2.29 wombling: £0
    Emergency savings £0/£2000
    Savercard Christmas savings £60
    12/3/17 175lb - 15/3/17 173lb
    • chocoholic_chick
    • By chocoholic_chick 19th Apr 17, 9:03 PM
    • 589 Posts
    • 2,747 Thanks
    chocoholic_chick
    • #9
    • 19th Apr 17, 9:03 PM
    • #9
    • 19th Apr 17, 9:03 PM
    Best of luck TC in completing on your home and becoming mortgage free!
    New House... New Mortgage! February 2017: £144,000
    Current Mortgage Balance: £142,336.52
    2017 OP's:£1245
    Total Debt £29,209 £0 Debt free 6/8/16
    • tattycath
    • By tattycath 19th Apr 17, 9:34 PM
    • 6,743 Posts
    • 35,478 Thanks
    tattycath
    Best of luck TC in completing on your home and becoming mortgage free!
    Originally posted by chocoholic_chick
    Thanks cc, my mortgage will only be a bit more than yours currently is.
    GE 36 *MFD
    MFIT-T4 No 106
    Mortgage overpayments:may £211.04
    May: £2.29 wombling: £0
    Emergency savings £0/£2000
    Savercard Christmas savings £60
    12/3/17 175lb - 15/3/17 173lb
    • jwil
    • By jwil 20th Apr 17, 2:39 PM
    • 7,381 Posts
    • 20,080 Thanks
    jwil
    Wow, tattycath, big changes indeed! Sorry to hear about the split, but
    congratulations to you and miss tc on your new start. Hope the completion is nice and quick.

    A Frayed Knot - I love your signature, that's a great thought!
    "If you can dream it, you can do it". Walt Disney
    • tattycath
    • By tattycath 20th Apr 17, 6:58 PM
    • 6,743 Posts
    • 35,478 Thanks
    tattycath
    Hi jwil lovely to see you.
    GE 36 *MFD
    MFIT-T4 No 106
    Mortgage overpayments:may £211.04
    May: £2.29 wombling: £0
    Emergency savings £0/£2000
    Savercard Christmas savings £60
    12/3/17 175lb - 15/3/17 173lb
    • tattycath
    • By tattycath 20th Apr 17, 7:02 PM
    • 6,743 Posts
    • 35,478 Thanks
    tattycath
    Yesterday afternoon was spent sorting out clothes. Not KM style, but successful nevertheless.
    Today 4 bags of clothes were recycled. I knew if they didn't go today, the temptation would be there to put some back in the drawers.
    This weekend will be spent predominantly sorting out stuff to sell and actually getting it up for sale. Less to move when we move and hopefully a nice few quid to go towards our expenses.
    GE 36 *MFD
    MFIT-T4 No 106
    Mortgage overpayments:may £211.04
    May: £2.29 wombling: £0
    Emergency savings £0/£2000
    Savercard Christmas savings £60
    12/3/17 175lb - 15/3/17 173lb
    • chocoholic_chick
    • By chocoholic_chick 20th Apr 17, 8:06 PM
    • 589 Posts
    • 2,747 Thanks
    chocoholic_chick
    Good luck with the clear out! We did the same before our move, it was quite shocking just how much we got rid of but it was also quite therapeutic. I hate clutter but DH is a bit of a hoarder so I find too much "stuff" stressful. Managed to persuade him to part with quite a lot of stuff though
    New House... New Mortgage! February 2017: £144,000
    Current Mortgage Balance: £142,336.52
    2017 OP's:£1245
    Total Debt £29,209 £0 Debt free 6/8/16
    • Jessy103
    • By Jessy103 20th Apr 17, 9:44 PM
    • 243 Posts
    • 857 Thanks
    Jessy103
    Sorry to hear about the split tc but good luck with your future journey x
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount April 2017 - £64,990.00
    Overpayment Target for 2017 - £5,000 /£1,989.01
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64
    • A Frayed Knot
    • By A Frayed Knot 21st Apr 17, 8:54 AM
    • 1,946 Posts
    • 8,875 Thanks
    A Frayed Knot
    Wow, tattycath, big changes indeed! Sorry to hear about the split, but
    congratulations to you and miss tc on your new start. Hope the completion is nice and quick.

    A Frayed Knot - I love your signature, that's a great thought!
    Originally posted by jwil
    Thanks jwil Its the way I overpay my mortgage !!! So no matter what, there is always something to be o/p no matter how big, how small, and I end up either o/p each week or pushing myself just that little bit more. Works for me.

    Yesterday afternoon was spent sorting out clothes. Not KM style, but successful nevertheless.
    Today 4 bags of clothes were recycled. I knew if they didn't go today, the temptation would be there to put some back in the drawers.
    This weekend will be spent predominantly sorting out stuff to sell and actually getting it up for sale. Less to move when we move and hopefully a nice few quid to go towards our expenses.
    Originally posted by tattycath


    Get Listing No time like the present.
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/£4000, 2015/£6294.69,2016/£3186.80
    • tattycath
    • By tattycath 21st Apr 17, 10:07 PM
    • 6,743 Posts
    • 35,478 Thanks
    tattycath
    Sorry to hear about the split tc but good luck with your future journey x
    Originally posted by Jessy103
    Thanks Jessy.

    Thanks jwil Its the way I overpay my mortgage !!! So no matter what, there is always something to be o/p no matter how big, how small, and I end up either o/p each week or pushing myself just that little bit more. Works for me.





    Get Listing No time like the present.
    Originally posted by A Frayed Knot
    Thanks for this AFK. I need a regular kick up the rear.
    GE 36 *MFD
    MFIT-T4 No 106
    Mortgage overpayments:may £211.04
    May: £2.29 wombling: £0
    Emergency savings £0/£2000
    Savercard Christmas savings £60
    12/3/17 175lb - 15/3/17 173lb
    • tattycath
    • By tattycath 21st Apr 17, 10:14 PM
    • 6,743 Posts
    • 35,478 Thanks
    tattycath
    Today we have signed and sent back various forms to conveyancer.
    we paid the deposit.
    We decided to use the vouchers £5.86 and a small win - £9 and put it towards buying a toaster and kettle-they were on offer.
    Kettle and toaster should have been £50 for both. They were on offer at £40 for both and I offset the £14.86. So they cost £25.14 for both.
    We also bought some reduced items. So a successful and productive day.
    I also found 2p on the floor outside a shop.
    Tomorrow I need to concentrate on work and hunting out stuff to sell.
    GE 36 *MFD
    MFIT-T4 No 106
    Mortgage overpayments:may £211.04
    May: £2.29 wombling: £0
    Emergency savings £0/£2000
    Savercard Christmas savings £60
    12/3/17 175lb - 15/3/17 173lb
    • A Frayed Knot
    • By A Frayed Knot 21st Apr 17, 10:35 PM
    • 1,946 Posts
    • 8,875 Thanks
    A Frayed Knot
    Steaming ahead, I would say

    Get hunting, and get listing reap rewards, you will feel so much better for it.
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/£4000, 2015/£6294.69,2016/£3186.80
    • tattycath
    • By tattycath 23rd Apr 17, 10:00 AM
    • 6,743 Posts
    • 35,478 Thanks
    tattycath
    On Friday it took ages to sort out forms and deposit etc for house. So I only did about 3 hours work. I had to make up hours yesterday.
    I worked all morning and part of afternoon, then retired to bed with a headache. I finished doing what needed to be done when I got up.

    Today I only need to do about an hours work. but family are coming over. of course, this is great but before they arrive I need to:
    Go to shop to get flour. Forgot to get some when I went shopping and they can't have a cuppa with no cake or anything!
    I also need to get stuff up for sale-I have stuff in mind so it shouldn't take too long to sort it out.

    My savings account is much depleted now that the deposit has gone out. so my most important task before digging into overpaying the mortgage (once it is sorted and completed), is to save some money for an emergency fund.

    Best go to shop for this flour.
    GE 36 *MFD
    MFIT-T4 No 106
    Mortgage overpayments:may £211.04
    May: £2.29 wombling: £0
    Emergency savings £0/£2000
    Savercard Christmas savings £60
    12/3/17 175lb - 15/3/17 173lb
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