Get yourself a 'Mortgage Pig'

jackie_w

Ive just got my new mortgage offer through this morning, and it tells me I can make overpayments any time I like :j (I originally thought I could only pay 10% of the balance every january). Just incase ive got it wrong, I will call the mortgage advisor on Monday to double check.
If I can make overpayments any time, all I have to do is wait until I move into the new home, and then start making overpayments immediately.:j

I never thought I would see the day where I would be more excited to pay a debt rather than go shopping:rotfl: :rotfl:

Jackie

alfiesmum

Hello everyone,

Well, my mortgage pot has begun! As we have a fixed rate, it doesn't make sense just at the moment to overpay, so we're using the mortgage pig (or in our case a mushroom and a dog) to save up and match the mortgage balance when our fixed rate is up....9 years, 10 months and counting. So to start us off I'm using this years ISA savings of £3100. Only about another £60900 to go!:eek:

I'm also listing anything that doesn't get used around here when I can get my ebay head on.

I have been making use of so many tips on the old style threads for money saving day to day, and they've really made a big difference. Menu planning has had the greatest impact..every penny saved goes in the pot.

I'm doing pigsback and free fivers and lightspeed daily, and already amassing this years Christmas spending money in vouchers.

And tomorrow we're doing a car boot sale for the non ebay type of things. Wish me luck, I usually come back from these events with more than I went to get rid of in the first place!!

Great thread this, I absolutely lurve it. I have a really good feeling that I might actually achieve this pay off your mortgage early thing!!:T

jackie_w

Tonight I have started to count up the spare change in the banks (im afraid they arent animal ones). We've got 3 in total. So far, Ive only counted out one bank, and ive got £60:j
The othe 2 I havent started yet, as one is full of coppers, the other needs a key which I cannot find, however, when looking in a little jar where I thought the key would be, ive found £20:beer: Guess where thats going.

Jackie

alfiesmum

The car boot sale was a great success this afternoon. Although we seem to have come home with an awful lot of stuff, we must have sold a lot too, as we made £154!!! :j :j Really pleased with that. Trip to the bank in the morning, to get it paid straight into the mortgage pot.

Lotta_Littlies

jackie_w wrote: »

T... however, when looking in a little jar where I thought the key would be, ive found £20:beer: Guess where thats going.

Jackie

Wow - that's a find! Well done

Lotta

worto03

Hi,

Sorry if this is covered anywhere but I didn't much fancy looking through 60 pages!

I now have 2 full piggies & was going to get it all changed into notes to stick back in and fillup again whats the best way to change the money, I've seen the change machines in supermarkets but they all charge.

Will the banks do this for free & do they supply money bags which I can count out the cash into?

Cheers,
worto.

jackie_w

HI Worto,

I would go into your bank ask them for change bags (they will give you them for free), then sort all your coins out into the bags, then take them to your bank. Some banks will only accept a certain amount of bags at a time.

Jackie

worto03

cheers,

Thought that might be the case just wanted to check as getting to my bank while it's open is a problem enough without being turned away after queing!

cheers,
worto.

dizzy_blonde_2

worto03 wrote: »

Hi,

Sorry if this is covered anywhere but I didn't much fancy looking through 60 pages!

I now have 2 full piggies & was going to get it all changed into notes to stick back in and fillup again whats the best way to change the money, I've seen the change machines in supermarkets but they all charge.

Will the banks do this for free & do they supply money bags which I can count out the cash into?

Cheers,
worto.

I had this issue a few weeks ago (earlier on in the thread). When I emptied my cow Pat for the first time I filled nine coin bags. I took them to the Halifax and they only accept five bags at a time which is very inconvenient, so I've now opened a mortgage cow account at Lloyds TSB who let you pay in as many bags as you want. Just ask them for some coin bags, they're free. When the balance in my account reaches 250.00 I will use it to pay off some of the mortgage (my mortgage t&c only allows extra payments in multiples of 250.00).

I might be wrong here as I've never actually used the machines myself, but I've heard that the supermarket machines change your coins into vouchers for the supermarket - very handy if you shop there, but supermarket vouchers aren't going to help you pay off your mortgage!

tiff

No the supermarket coin machines give you a voucher, which you take to customer services to exchange for cash.