uzubairu's Mortgage Free Journey

uzubairu

Ebay sales target of £500 has been reached an surpassed.
Currently £610.

Northern Rock representative called me yesterday, to offer me their new 4% Regular Saver (which has very flexible terms).
I signed up straight away, since our current ones finish at the end of this month.

OH has got an appointment to open an account on Friday.
I'll be putting the full £250 into each this month (using the eBay sales money).

Most of our regular savings account will expire over the next few months.
They account for £1,200 of the overpayments.
Northern Rock (x2) -June
Cheshire BS (x2) - July
Saffron BS (x1) - July

First Direct (x1) - October
HSBC (x1) - January 2012

So far, we plan to put £500 (£250 x2) into the new Northern Rock Regular Savers, and £400 (£200 x2) into new Saffron BS Regular Savers.
OH will open a First Direct Regular Saver in July.

The fixed Rate cash ISA expires 15/7/11 and Northern Rock seem to have some reasonable ISA products that allow transfers in, so we will probably choose one of them.

Also opened a joint Northern Rock E Saver - Issue 5 (3.01% for a year) to put the proceeds of our matured Regular Savers.

uzubairu

May Overpayments
Phoned First Direct this morning and the mortgage is:- £68,861.11

May overpayments are:- £2,250.

Reg Savers / May / YTD
Northern / = £0 / £2,880
Northern / = £250 / £2,880
Cheshire / = £250 / £2,500
Cheshire / = £250 / £2,250
Saffron / = £200 / £2,200
FDirect / = £300 / £2,100
HSBC / = £250 / £1,000
Northern 2 / = £250 / £250
Northern 2 / = £250 / £250
NR Esave 5 / = £250 / £250

Fixed Cash ISA = £2,000
Total Overpayment Savings = £18,560.

Direct Overpayments to mortgage account
Month / Amount / YTD
Oct / £150 / £150
Nov / £000 / £150
Dec / £000 / £150
Jan / £000 / £150
Feb / £250 / £400
Mar / £200 / £600
Apr / £000 / £600

Mortgage remaining = Mortgage - OP Savings = £68,861 - £18,560 = £50,301

uzubairu

Listed 20 items on eBay this evening, mainly CDs and console games (Nintendo DS and Wii).

It felt like homework because I had put it off (taking the photos) for as long as I could, but at the back of my mind, I knew that there is probably £80 - £100 (after fees) to be had.

I've also listed an old bike of mine that has been gathering dust in the garage.
It will probably fetch £200, which will go towards the £500 I spent on my new bike last month.

[Deleted User]

Good luck with the ebay sales - I hear you on it feeling like homework lurking in the back of your mind!
sounds like you are making massive strides into your mortgage - well done! and enjoy your celebration meal out

uzubairu

Deleted_User wrote: »

Good luck with the ebay sales - I hear you on it feeling like homework lurking in the back of your mind!
sounds like you are making massive strides into your mortgage - well done! and enjoy your celebration meal out

Sold 12 console games and CDs last week, with 7 remaining unsold.
I've relisted 5 of them today and will be adding a few more bits of junk today.

I ended up selling 2 bikes over the weekend, and generated £600 (which covers the cost of my new purchase).

OH opened a new Northern Rock Regular Saver, but he ending up transferring over £250 from the old one (matures 01/06/11) to open the new one because the operator didn't have a clue.

He was supposed to open up a new account with £250 and take the passbook for the old one to the branch, so that it could be sent off to Head Office so that the funds on maturity be transferred to another Northern Rock savings account we hold.

He left the branch without even realising that she hadn't taken the £250 from him.
Between the my OH and the assistant at the branch, I don't know who is more stupid.

I've told him that next time I'll send him in with a sandwich board and a letter from his mum!

Thankfully no real harm has been done (interest rate isn't affected by the withdrawal), and he will deposit the money into the online savings account instead (where all the matured RS money will be going in the first instance).

uzubairu

I've checked my credit card statement (online) to see if I have had any money taken out for the Olympic Games tickets.
It doesn't look like any money has been taken. :sad:
So unless I want to watch the less popular sports, I'll probably be watching it at home (in HD on an 80 inch screen).

I've made another overpayment of £500 for this month (with the money that was set aside for tickets) into the Northern Rock E Saver account.
This takes the month's total to £2,750.

May overpayments are:- £2,750.

Reg Savers / May / YTD
Northern / = £0 / £2,880
Northern / = £250 / £2,880
Cheshire / = £250 / £2,500
Cheshire / = £250 / £2,250
Saffron / = £200 / £2,200
FDirect / = £300 / £2,100
HSBC / = £250 / £1,000
Northern 2 / = £250 / £250
Northern 2 / = £250 / £250
NR Esave 5 / = £750 / £750

taka

uzubairu wrote: »

I've checked my credit card statement (online) to see if I have had any money taken out for the Olympic Games tickets.
It doesn't look like any money has been taken. :sad:
So unless I want to watch the less popular sports, I'll probably be watching it at home (in HD on an 80 inch screen).

Me neither... I thought I'd at least get the Fencing ones - it's really not the most popular of sports! I'll check my cc account over the next few days to see it it is just taking a day or 2 to show on my account but it's not looking good...

Well done on your OPs!

uzubairu

I checked again yesterday and I definitely haven't got any Olympic Games tickets.
The money from the Northern Rock regular savings has gone into the E-Saver account.

June overpayments are:- £1,750.

Reg Savers / Jun / YTD
Northern / = £250 / £500
Northern / = £250 / £500
Cheshire / = £250 / £2,750
Cheshire / = £250 / £2,500
Saffron / = £200 / £2,400
FDirect / = £300 / £2,400
HSBC / = £250 / £1,250

NR Esave 5 / = £5,887 / £6,637

CathT

Hi Uzubairu, have just caught up on the last couple of pages of your diary. Well done on reaching that milestone in your mortgage, well worthy of a celebration. You do really well from ebay so hope that continues too.

uzubairu

June Update
Phoned First Direct this morning and the mortgage is:- £68,410.14

June overpayments are:- £1,750.

Reg Savers / Jun / YTD
Northern / = £250 / £500
Northern / = £250 / £500
Cheshire / = £250 / £2,750
Cheshire / = £250 / £2,500
Saffron / = £200 / £2,400
FDirect / = £300 / £2,400
HSBC / = £250 / £1,250
NR Esave 5 / = £5,887 / £6,637

Fixed Rate Cash ISA = £2,000

Total Overpayment Savings = £20,937.

Direct Overpayments to mortgage account
Month / Amount / YTD
Oct / £150 / £150
Nov / £000 / £150
Dec / £000 / £150
Jan / £000 / £150
Feb / £250 / £400
Mar / £200 / £600
Apr / £000 / £600
May / £000 / £600
Jun / £000 / £600

Mortgage remaining = Mortgage - OP Savings = £68,410 - £20,937 = £47,473

I will now update the MFiT-T2 thread with this figure for the next quarter (halfway point in the challenge).