Starting out my journey !!! Altho its a small start

staceydaisy

Right ive posted here before and never kept up with it for financial reasons and getting my emergency pot up to scratch.

I can not afford to contribute hundreds to my mortgage each week but even if i do put a small amount towards my mortgage it makes me feel good.

Some weeks i can only contribute £5 but hey it better than nowt. When we first took out our mortgage we were told for evey £1 we borrowed we would pay £2.50 back so the way im looking at it is for every £5.00 i pay im saving £7.50.

I am in negative equity seen as the houses prices as dropped and the fixed rate i am on now at 6.94% ends in june. So i am trying to throw what i can at the mortgage because as it stands i have no chance at getting a good deal.

I dont think i will be able to get a good deal anyway but here to trying.

Wish me luck guys i will post once a week no matter how small the payment is. This will ensure i at least pay something.

Any tips will be great im already with cashback sites surveys etc...

Thks guys i can feel the encouragement already

setmefree2

and

staceydaisy

just to add something ive just worked out i pay £18.76p in interest alone every day.

that is one scary thought

SmlSave

Hi stacey and welcome to MFW! :T#

When we first took out our mortgage we were told for evey £1 we borrowed we would pay £2.50 back so the way im looking at it is for every £5.00 i pay im saving £7.50.

I love your way of looking at it like this I'm going to dig our my offer to see how much it works out as on mine.

My fixed deal ends in Feb and its save, save, save to OP in Jan (when we're allowed) to try and give us a chance on gettign a half-decent deal.

Good luck and keep posting!

dexter_fan

Hi Stacydaisy

Just to correct you (but hopefully make you feel EVEN better) if £1 is worth £2.50 then £5 would equate to £12.50 !!! (x 2.5)

Even MORE inspiration :j

DF

staceydaisy

yes dexter dan thanks for that and thanx for all the comments from everybody

dexter fan lol great mind think alike £5.00 in capital £7.50 in interest = £12.50

x

RosieTiger

Welcome and good luck - every pound counts so just keep going !

evab_2

Welcome and good luck!

dimbo61

Check your mortgage paperwork to see what happens to your mortgage after the fixed rate ends
Does it go onto the lenders SVR and then check on there website or give them a call to find out what is there current SVR.
GOOD LUCK and every little helps

staceydaisy

thanks to everyone thats posted

My mortgage fixed ends in june and will go onto my company svr rate which is 3.5%. cant wait lol

Just an update really ive paid another £5.00 on my mortgage today. Again only a small amount but every penny counts.

I was doing my finances last night and eventually i reckon i will be able to overpay by £120.00 a month. That all depends on circumstances whoo hoo wish me luck

im really excited

evab_2

Good luck, that would be a great OP!