Radish72 MFW diary

Radish72

Felt reckless last night..........in a very MFW way

Looked at the balance of my current account and decided to OP mortgage by a huge £1000

Man of phone kept asking if I was sure, I didn't reduce the overall term, or change the monthly payment. So hoping that the bank gets this right, as usually they re-calculate the monthly payment and then only take that the following month

New balance will be £25,464 and according to my spreadsheet 9p/day in interest saved, currently at £2.37

gallygirl

Radish72 wrote: »

Felt reckless last night..........in a very MFW way

Looked at the balance of my current account and decided to OP mortgage by a huge £1000

Man of phone kept asking if I was sure, I didn't reduce the overall term, or change the monthly payment. So hoping that the bank gets this right, as usually they re-calculate the monthly payment and then only take that the following month

New balance will be £25,464 and according to my spreadsheet 9p/day in interest saved, currently at £2.37

oh, you rebel you :rotfl:

well done :j

Radish72

gallygirl wrote: »

oh, you rebel you :rotfl:

well done :j

Sad that it did feel, like I was being a rebel :rotfl:

Its the spreadsheet it entices me in - its like play around with numbers, see what a difference a OP makes

It is literally excel spreadsheet !!!!!! (especially the worksheet called house sale, created after looking at too much house !!!!!! one weekend)

emmie26

Wow radish you put us all to shame, I must admit that I too love a bit of excel, when I was 21 I sat down and wrote my five year financial plan this involved paying off student debt, saving for car, house and wedding, 6 months on was pregnant so had a shotgun wedding, rapidly paid of student loan and had to buy a house quick sharp :rotfl:best laid plans and all that.
Whenever I'm feeling frivolous I sit down with the laptop for an evening of excel there is nothing better.

InaPickle

You big pair of geeks, you!

I'm looking forward to speculating with Excel as soon as I don't alread have plans for every single penny I've got. Methinks I need to save up to go travelling. Oh yes. Pickle on the beach, Pickle up a mountain, Pickle at the market and in the restaurant...*sighs longingly*

Radish72

InaPickle wrote: »

You big pair of geeks, you!

QUOTE]

Cheeky :rotfl:

Letter from mortgage company, monthly payment has changed from £194 to £176 which seem such a huge drop for a £1K OP. Which means tha the OP has increased to £124 extra a month (70% according to Excel spreadsheet)

Also by the end of the year if I keep up with the OP plan I will own half my house :T

[Deleted User]

Hi radish
have just read through your diary - very inspiring!! Good luck with the house sales for you and BF , we will be in similar position next year altho prob just sell one of the flats and stay in the one we're in in the moment , cant imagine managing the stress of trying to sell 2 places and buy one all at the same time!! ;o)
sound like you did a lot of DIY/decorating stuff yourself- youre a braver woman than I ! but now I have discovered the whole money saving /MFW thing I dont think I would be able to go back to the idea of "cant be bothered get someone else to do it! " you will be in a great position if you guys can put a 50% deposit down, thats what Im wanting to be able to do when we move, never want to have to kill myself at work for mortgage payments again!!

thanks for the inspiration!:cool:

Radish72

Deleted_User wrote: »

Hi radish
have just read through your diary - very inspiring!! Good luck with the house sales for you and BF , we will be in similar position next year altho prob just sell one of the flats and stay in the one we're in in the moment , cant imagine managing the stress of trying to sell 2 places and buy one all at the same time!! ;o)
sound like you did a lot of DIY/decorating stuff yourself- youre a braver woman than I ! but now I have discovered the whole money saving /MFW thing I dont think I would be able to go back to the idea of "cant be bothered get someone else to do it! " you will be in a great position if you guys can put a 50% deposit down, thats what Im wanting to be able to do when we move, never want to have to kill myself at work for mortgage payments again!!

thanks for the inspiration!:cool:

Thanks Deleted_User I never think my diary is inspiring compared to other peoples so I'm feeling really chuffed that you took the time to pop in and comment

Its not very stressful this house selling thing at the mo, as neither house is having any viewings and the worst scenorio will be that the both go at the same time and we will be homeless (but mortgage free :rotfl:in totallt the wrong way)

Not sure if 1 of us could be liable for capital gains tax if name is on two mortgages so have to investigate that when 1 house sells

I didn't do much decorating as I hate it so I did pay for that, but what the decorator did in 1 week would have taken us weeks with many arguments. But I am very good at destroying things

cha97michelle

Radish72 wrote: »

InaPickle wrote: »

You big pair of geeks, you!

QUOTE]

Cheeky :rotfl:

Letter from mortgage company, monthly payment has changed from £194 to £176 which seem such a huge drop for a £1K OP. Which means tha the OP has increased to £124 extra a month (70% according to Excel spreadsheet)

Also by the end of the year if I keep up with the OP plan I will own half my house :T

That does seem quite a big drop. We are a bit higher than you (£31,600) and i overpaid £1100 and my payments have dropped from £191 to £183 per month. Wouldn't have thought the £6k difference in our mortgages would have made that much difference. :undecided

Radish72

cha97michelle wrote: »

Radish72 wrote: »

That does seem quite a big drop. We are a bit higher than you (£31,600) and i overpaid £1100 and my payments have dropped from £191 to £183 per month. Wouldn't have thought the £6k difference in our mortgages would have made that much difference. :undecided

Considering I OP over £2K last year it only went from £198 to £194, I'm sure there is a point in your mortgage when you start to see a big change between capital and interest, I can only think that as I'm nearly at 50% paid back this might be the point. But I'm not complaining :rotfl:

Waiting for letter from mortgage company ..........telling they have made a mistake :rotfl: