Mortgage Reduction Beginner to Novice - The Show Begins

StuartGMC

MRN
Good to hear about the OP; I think LocoBlade's spreadsheet will do what you ask (just search the sticky threads at top of the MFW forum lists). Great pay rise!

Sincere best wishes for family and for you whilst OH is away.

Queen-Bee_2

Hello MRN - well done on the new job, and for having the courage of your conviction to leave your old one. I'm impressed too about your ability to plough your way through such a massive to do list!! :beer:

setmefree2

on the OP, with your new job, to hear about your realtives - hope they get better soon

Mortgage_Reduction_Novice

My feet have barely touched the ground recently... good MSE moments include:

MrMRN's car insurance for £187 - ok it's not quite the 98p record reported on the homepage but still not too bad considering his renewal was £360!!!!

Sitting in Premier seats at the cinema after using a voucher for normal seats - ok not quite MSE just down right naughty.

Planted garlic and onions in the vege patch (spring cabbage, winter lettuce and raddish coming along nicely already) - should help with the food bills.

Mystery shopping has yeilded an on paper profit (after expenses, tax and NI) of £146 for September and October.

...and attempted MSEness that failed:

Tried to switch gas and elec provider but was declined credit!!! I think the best course of action is to wait a few weeks as I've just closed an unused bank account, closed a credit card account and I'm in the middle of transfering two ISAs into one. When all that's fully processed and I've had first months wages from new job will have a free trial to view my credit report to see if there's anything suspicious in there then try again - does that seem wise?

Was missing MrMRN now he's away with work so went for some fresh air and ended up at the shops... then trying clothes on... AND buying them... AND my student card had just expired so didn't even make a student discount saving!

StuartGMC

Mortgage_Reduction_Novice wrote: »

...and attempted MSEness that failed:

Tried to switch gas and elec provider but was declined credit!!! I think the best course of action is to wait a few weeks as I've just closed an unused bank account, closed a credit card account and I'm in the middle of transfering two ISAs into one. When all that's fully processed and I've had first months wages from new job will have a free trial to view my credit report to see if there's anything suspicious in there then try again - does that seem wise?

I would certainly be careful, you don't want to get too many declines.

Was missing MrMRN now he's away with work so went for some fresh air and ended up at the shops... then trying clothes on... AND buying them... AND my student card had just expired so didn't even make a student discount saving!

Good that you miss him, but not your new "habit" :eek:
You need to spend more time here on MSE, on your spreadsheets (you have plenty to list on the clothing section it seems :rotfl:) and other non-shopping activities!

Seriously though I'm sure you didn't go overboard so don't beat yourself up over it.

Mortgage_Reduction_Novice

StuartGMC wrote: »

I would certainly be careful, you don't want to get too many declines.

Hmm that's something I hadn't considered. Hopefully the problem will come clean in the wash (my incling is that it's employment related!) but maybe if I check my file and try a different company (but just the one) that it'll clear. If not, guess I'm stuck on a slightly more expensice tarrif but how long to wait before trying again?

StuartGMC wrote: »

Seriously though I'm sure you didn't go overboard so don't beat yourself up over it.

No, your right, it was a veritable minor spree compared to some people I saw. Anyway I have made a pact with myself and will be putting it on my thread so that I actually stick to it:

I will clear the ebay mountain (by ebaying not taking to charity shop) before I make any more clothing or accessories purchases (even if I have vouchers).

There. This kills three birds with one stone as the ebay mountain is pretty ugly compared to my usually tidy house and will raise funds for a ligitimate spree and allow time for the next voucher claiming session. The shopping trip after that should be relatively money neutral.

StuartGMC

Mortgage_Reduction_Novice wrote: »

Hmm that's something I hadn't considered. Hopefully the problem will come clean in the wash (my incling is that it's employment related!) but maybe if I check my file and try a different company (but just the one) that it'll clear. If not, guess I'm stuck on a slightly more expensice tarrif but how long to wait before trying again?

Did the supplier give more detail on their reasoning? For example, would they consider you in a few months time with more data in that period etc? May be cheaper than getting your credit check. Do remember, your credit rating will drop if you get a series of declines, which other companies will see. It may well be worth checking on the debt-free wannabe board where people have such problems and may be able to provide guidance on the issues of credit ratings and frequency of application etc just so you don't generate a problem?

PS: When will we see graphs here?

Mortgage_Reduction_Novice

StuartGMC wrote: »

PS: When will we see graphs here?

Probably not for a while... I'm still trying to work out how much we'd saved by making that annual overpayment!!!

I'm just not sure what we have that can be represented graphically. In spreadsheets I have my student loan repayments (forcast ending mid 2015), mystery shopping, wedding guest list (!) and wedding budget vs real spending. Maybe I need a proper mortgage one... I couldn't understand the one you recommended but I should try again I guess.

Mortgage_Reduction_Novice

Just for stuart...



As I mentioned in a previous post, we've recently made our first annual overpayment. It was only small this year but its also the first year of our mortgage so we're starting off on the right foot. As you can see from the graph, the blue line (indicating our mortgage with overpayment) is slightly below the red line (the course taken if we hadn't overpaid) and lands short of the 25 year term. In easier terms our over payment knocked a month off the term of our mortgage...

Phew its only taken me two hours to get to grips with a mortgage spreadsheet and get the graphs right... then figure out how to insert a picture into a post.

StuartGMC

MRN
Nice to see you are graphically explaining things now

I'm sure that the effort to produce the graph will be worthwhile in helping to give you an incentive too.

Ooops - now I've created a new page so people won't see the graph unless you go back one page!