new MFW wanabee

setmefree2

well done on MF progress :T:T:T

and well done on your baby news

freebiequennie

Just an update for june - all going well with pregnancy

and

mortgage is now under £100,000 due to the over payments made yesterday on it so very very please

we made a decision to trade in both our cars (a tigra 1yr old and fiesta 2yrs old which we had got very good deals for brand new and for trade in value we got back £5K less than we paid for them and had a total of 3yrs use so that was good) and have brought a 1yr old astra as when I finish for mat leave we will def only need one car and husband mostly cycles to work and until a yr ago we always had one car.

when I go back to work this time next year we will reassess the situation and poss get a small car as a second car.

setmefree2

freebiequennie wrote: »

mortgage is now under £100,000 due to the over payments made yesterday on it so very very please

YAY great milestone :T:T

freebiequennie

Thanks setmefree2 yeah feels great to reach that milestone especially with baby due end august. I have been doing some extra work so has helped with overpayments and also saved a little to cover when my salary drops to maternity pay. Can still do our biggish over pays for july, aug and poss sept then will re-assess how much we are overpaying but really pleased with our progress.

freebiequennie

Well baby is here and is almost 8mths old - how times flies and he is lovely.

we have been managing ok on reduced income as had put some aside beforehand to cover this.

I return to work in about 5wks and will look foward to a fuller pay packet but not so much leaving my little boy (and the childcare costs!!)

On a very positive note my husband got a higher paid job in december which means I can go back 4days a week as he is earning what I used to earn full time and I will earn what he did on my 4 days so total income will be roughly the same however with the additional outgoing of childcare.

Rather than saving we have been over paying mortgage where possible

and are now down to £80,000!!!!!!!

Very very pleased with ourselves and now have a new fixed rate deal set up which will start when I return to work as they cant do it until I am finished mat leave which is fine.

freebiequennie

Hello

ok so not so good on the updating my thread side of things but anyway

I now have a just 3yr old and we moved 2 wks ago to a bigger house

we had got our mortgage down to £50k before moving which is a great milestone for us however due to the mega pricy property we have brought and the loss we made on our old property (we moved for school catchments next yr!) we now are back to a £170k mortgage

Anyway we currently have 2 mortgages running as we didnt want to take out one paying off the other as we had a good deal on it and would have been charged an early repayment charge - mortgage one deal ends in sept 2014 and we will have enough almost in savings to pay it off (if we work hard enough will have enough) - which will leave us with the one mortgage to pay and enable us to save some so when the deal to that one ends in 5yrs time we can pay another chunk off that.

Plan is to be mortgage free in 10yrs time!!