uzubairu's Mortgage Free Journey

uzubairu

I dropped my iPad 2 (32GB WiFi) a month ago and although it continued to work properly and wasn't scratched/dented, the volume button started to stick randomly (icon would remain on screen for a long while after being pressed or volume would go very loud/silent).
Apple store said it would be £219 to replace with a new one.

I sold it last week (£310 net), hoping that the upcoming lauch of iPad 3 would mean a price drop on the old model, and I would be able to put less than £219 towards getting a replacement.
Thankfully there has been a price drop on the 16GB WiFi which has resulted in me paying £271 for a brand new one from Tesco (£329 minus staff discount and a few money-off vouchers).

I went for 16GB because my 32GB was never more than 25% full.

uzubairu

I've sold a few more things on eBay so I have added £70 to the overpayments for March.

Total overpayments for March:- £1,870.

uzubairu

I opened a Co-operative Bank current account last November that offered a £200 joining bonus after 4 monthly payments of £800+.

The bonus was paid last week! :j
I'm going to make another overpayment of £200 today.

Total overpayments for March:- £2,070

Currently preparing a Powerpoint presentation for work which has to be ready for Monday and I have to go into work for 07:00 today (to coach a new member of staff).

It's only for 2.5 hours so I should be able to sample some more of the decent weather that we have been having this week.

I've identified 8 items for eBay and will make an effort to get them listed this afternoon.

uzubairu

Presntation was well received yesterday.
The Keynote App for iPad is an excellent tool.

I won the 'Bonus Ball' at work (£49) so I'm going to put £30 into overpayments and spend the rest on lunch with my friend today. :j

Never got round to listing the items on eBay on Sunday, so I will do them before I do anything else today.

Lovely weather yet again, and I have the rest of the week off from work (time owed). I think I'll do a cycle ride later on today .

Total overpayments for March:- £2,100

uzubairu

Listed 6 items on Tuesday and 3 of them have sold net proceeds (after fees) are: £34.

I have seen a bike I really want that has been greatly reduced as it's last year's model, so I have listed 24 items on eBay today (which if they all sell) will offset 80% of the cost (includes 6 pairs of shoes/boots, 2x trainers and 3 handbags plus other bits and bobs).
Bike costs £525 (after cashback).

Weather has been lovely again today, so I have spent a couple of huors on my other bike.
It can't last but ay least when it turns I'll be back at work and won't be missing anything.

Today I opened a Santander ISA (3.3%) to deposit money from Regular Savers due to mature in the next couple of months.
It also accepts transfers-in , so I can group together OP ISAs as we have money in several institutions.
OH also has ISA with Santander so he is just going to switch to over.

uzubairu

March Update

Final monthly update (last day of the month and all eBay proceeds added).

The net mortgage figure will also be used for the MFiT-T2 quarterly update.

2012 Mortgage starting balance = £65,703.71
2012 Overpayment Savings starting balance = £23,991
2012 Net Mortgage starting balance = £41,712.71


Month / Payment / Overpay / Daily Int / OP Savings / Mortgage /Net Balance.
Jan / 581.13 / 2,590.00 / 4.14 / 26,597.00 / 65,246.73 / 38,649.73
Feb / 581.13 / 2,200.00 / 4.11 / 28,797.00 / 64,793.25 / 35,996.25
Mar/ 581.13 / 2,100.00 / 4.08 / 31,077.00 / 64,338.74 / 33,261.74

Total overpayments (Year To Date) = £6,890.00

uzubairu

So far 8 items have sold since I listed them on eBay, with net proceeds (eBay/Paypal fees paid) in Paypal account of £169.88. :T

Still got more selling to do.
I won't transfer the money unitl I hit my £420 target.

I've also discovered that a couple of laptops bags that I bought in the US a few years ago have a good resale value on the US eBay site, so I will list them there on Sunday.
I had almost going to give them away as there was no interest on the UK eBay site. The sale of both of them at the low end of completed listings value should get me about £80-£90 after fees.

OH told me yesterday that he will be getting his bonus next week and he will be allocating £1,000 to the overpayments.
I told him that if I had a received the bonus he was getting I would have given a bit more than, so he says he will budget better next year.

uzubairu

April Update

2012 Mortgage starting balance = £65,703.71
2012 Overpayment Savings starting balance = £23,991
2012 Net Mortgage starting balance = £41,712.71


Month / Payment / Overpay / Daily Int / OP Savings / Mortgage /Net Balance.
Jan / 581.13 / 2,590.00 / 4.14 / 26,597.00 / 65,246.73 / 38,649.73
Feb / 581.13 / 2,200.00 / 4.11 / 28,797.00 / 64,793.25 / 35,996.25
Mar / 581.13 / 2,100.00 / 4.08 / 31,077.00 / 64,338.74 / 33,261.74
Apr / 581.13 / 2,600.00 / 4.04 / 33,729.00 / 63,875.32 / 30,146.32

Total overpayments (Year To Date) = £9,490.00

Another piece of the jigsaw has been added (only 4 more to go). :j

uzubairu

eBay - Paypal account has £322 in it and still have a few more things to sell.
New bike is excellent (fast and light) - great purchase (cashback tracked higher and I had a discount code so it brought bike purchase down to £505).

uzubairu

I've made myself a list of jobs to do today, and whilst I thought it would be 5/7 things to do, it has ended up being a list with 17 items on it and I am determined to get through the lot today and not let them drag into next week (some are minor things).

At 13:40 I have completed 5 things on the list.
I am making a trip out now to cover another 5.

I've also got to sort out leaving presents for a few colleagues at work, so I am in the process of collecting the monies off those who want to give (that's not included in my list).

Mortgage is now below the target of £32K that I set for the MFiT-T2 challenge.
At the time of setting it, I honestly thought that paying off £50K of capital would be a stretch and OH laughed at me.
An MSE lifestyle and the good fortune of remaining employed has helped out no end, so we'll crack on with the overpayments whilst we can.
I'll contact FB and lower it to maybe £20K