Get yourself a 'Mortgage Pig'

gallygirl

:j Welcome whistling gypsy!!!!!

If you think it's all grown up & serious just reread the posts about the traumas of naming mortgage pigs - that should set your mind at ease!!!!!

With regards to the 'serious stuff' you need to see if interest is calculated daily or annually. If daily teh rule of thumb is to pay off as and when - ask mortgage lender about different methods - doing on line obviously easiest.

However, to get v complicated you also need to take tax position into account. If you are a basic rate tax payer and your mortgage is 5% if you can find a savings rate of better than 6.1% (i.e. 5% + 22% tax) you may be better off saving and paying off at a much later date. (This is not an exact calculation as not sure how compounded interest would affect this, but is pretty close).

If interest calculated annually it all gets v traumatic as you need to find the best savings account to meet your needs (will it be a set amount each month or vary, are you prepared to change current account to get 10% savings interest etc.).

Anyway, back to the important stuff. have you got a pig yet or are you planning on a cow etc?????:D

halloweenqueen_2

Phew - ali must have swallowed a calculator last night! She does a far better explanation than me - I'm more interested in the naming of the pig!
I just want to see my mortgage gone so I would risk losing that 1% or more to get rid of something that owns my house more than I do but the advice is very good - thanks ali!
HGbels- just wondering why not 2 storeys - I know theres obviously more costs involved, but you wouldn't be paying any more for the planning permission, you would add value and space to your home as well.

Whistling_Gypsy

Thankyou ali007 and halloween queen :wave:- I am currently trawling e-bay and the local shops (plenty of cheapo bargain type emporiums round my way ) for my very own MORTGAGE PIG!!! (or cow, duck, gorilla (yes - I've even seen one of these!) - but am far too superstitious to name it yet - though I will certainly be inviting you to the naming ceremony!!!

BTW - Mortgage is just under 5%, and interest calculated monthly - tied in for 14 more months - but intend to change every 1 - 3 years and try and reduce term depending on other outgoings for the duration. Will probably forget reducing term and go for the much more financially viable MORTGAGE PIG instead now could Hurrah :j :j

gallygirl

Whistling Gypsy - Just read signature :kisses3: - is my favourite poem, so has made my night!!! Funny, did Yeats at A level and thought he was pants (and also a bit of a perve - didn't he marry the love of his life's daughter :shocked:????) But came back to it a few years ago, and having seen all the places he wrote about I have totally changed my mind. So, a bit of culture on a Monday night. This thread could do with the tone being lifted.....;)


Anyway, about this pig...... mine is called Peefer (as in P for pig). So we could have Ceefer, Geefer etc......:rotfl: Ooops, appears culture moment is passed!!!

halloweenqueen_2

Updated my total a bit more is in, ebay sales not going too badly,so creeping up there, I spend a bit more this month so less money to over pay!

comping_cat

Managed to pay £35 into my mortgage today, know its not much, but im pleased and its better than nothing!!!!

halloweenqueen_2

Well done cat! It all adds up and you know its going to save you much more in interest!
I'm still listing stuff on ebay, most of my stuff seems to be selling quite well, I'm pleased anyway - could just do with a couple of them being paid for!

hgbels

HI

Well a slow start for me, as we have been away to Eurodisney. Not really my choice of destination but my dad decided to take the whole family.

Anyway now I am back it is down to business as I have some stuff to list on ebay.

I'ma bit miffed though as I thought I would get some quidco cashback on the house insurance, but our original provider seems cheaper. If the cash back came through we would be £20 better off - if not £80 worse, so we are sticking with the orginal provider - so no cash for piggy

Hels

halloweenqueen_2

Have you tried the barclays challenge - I got £50 - then they sent it twice - hee hee!
Or www.insuresupermarket.com
Have a ook on greasypalm or similar for your insurance as well. Worth looking before you commit yourself, if you do save any money piggy wouldn't mind having it!
All my payments are in for my ebay sales - woohoo!

Megatimbo

Hello fellow piggy farmers just want to report Napoleon is here,he went for a wander around the Royal mail System but he turned up safe and sound today and i can safely say he has been fed and is quite happy and so am i
May i say to all welcome and dont forget ya wellies
Best regards M