Pixelwife MFW - Overpayment Diary

pixelwife

Hello

Long time lurker here. I have 2 mortgages and 3 properties; 2 BTLs and my residence. I am a MSE-at-heart person and have used these forums for a couple of years now to motivate myself to pay down mortgages. So much so one BTL is mortgage free and my own home has been overpayed after remortgaging on a reduced 15 year term.

I am recently married just a few months ago so more than ever we want to now make sure we are mortgage free as quickly as possible so we can thrive in the credit crunch and hopefully chill out and have children soon.

This diary is going to be for my mortgaged BTL property as it has a higher interest rate than our home. I also secured a no tie in deal with C&G as my husband and I are self-employed in sales and quite well paid so if we work very very hard we could clear the whole mortgage in a few years!

This property is on a tracker so will benefit from yesterday's 1.5% drop so I'll be able to hit more capital. It's a 25 year term but I can make unlimited overpayments. Started the mortgage in June this year. So far I have overpaid £5540, not bad for such a short space of time!

My repayments were £1665 per month but this will drop to around £1440 per month. Balance is £286,085.

At the moment, hubby and I are putting money away for our hefty tax bills so I intend to make small frequent payments, rather than anything huge at the moment!

I look forward to sharing the journey with you all and thank you for the inspiring diaries on here which are always a delight to read.

Pixelwife

Welshlassie

Welcome to the fold and good luck with your journey.

pixelwife

Thanks for the welcome Welshlassie. I did think no one was going to respond for a while!

Anyway, as a purely psychological start to my plan I've just transferred £85 from my current account to my mortgage thus bringing the mortgage down to a nice round £286,000. Thinking about it, it should be lower as I have made a standard repayment since the last figure I got from C & G. Oh well.

I wish C & G would let me monitor the mortgage account online as I have to phone them every time I want a balance!

I'm going to check our Pigsback pig to see if there's a worthwhile amount of cash in there to make a payment.

Ebay seems like an awful lot of effort for little gain so does anyone have any other suggestions for simple, quick ways of cashing in!!! Don't have any spare time for things like mystery shopping so I need fast wins for small gains really!

Thanks

Pixelwife

evab_2

Hi there and welcome from me too.

If you've got books, games or dvds to sell then Amazon is quite good although you need to check the fees are worth you selling the item. It stays on for quite a few weeks and you don't pay anything until it's sold. There's some other sites but I don't know anything about selling on them.

Welshlassie

Play.com is a good option as well. I've recently listed a load of books on there and have sold 3 in the space of a few days.

trudypretty

hi pixelwife.....welcome.....good luck with your quest...you will find it so helpful on here !!!

pixelwife

Thank you all. I feel super welcome now!

Have tried Amazon before and not really got on with it. The kind of things I read must be common so it's oversaturated. I think I'll have a look at play.com though. Do you have to have bought from play to use the service?

Thanks

Pixelwife

Welshlassie

Nope, you do need to be registered, but not bought from them

pixelwife

Thanks WelshLassie, I shall pilfer hubbies collection of movies and CDs and see what I can sell. I'm not much of a collector of DVDs as Sky Movies does me just fine!

Our pigsback pig was nearly full and having dispatched my hubby's bedside table of small change it was completely full so I've totted that up to be banked tomorrow. Sadly it was mostly 1ps so there's only £10.10 but hey, it all helps.

I have some money in an online account so going to see if that's worth withdrawing and paying off. It'll only be a few pounds but they all add up.

I'm enjoying this. I won't normally be posting 100s of times a day but I'm at home today so getting a bit addicted!

Pixelwife.

Welshlassie

pixelwife wrote: »

I'm enjoying this. I won't normally be posting 100s of times a day but I'm at home today so getting a bit addicted!

get used to it as you see the balance coming down you'll do everything you can to find ways to make extra money. :rotfl:

setmefree2

Welcome & Good Luck:T:T