£161,044.25 reasons to be mortgage free

CathT

Huge congratulations to you xxxx

newgirly

Just wanted to pop in and say congratultions on you new addition, I hope you all have a fantastic christmasx

museumworker

Congratulations on the new arrival! Have a fantastic Christmas.

SmlSave

Ohhh congratulations wanta!

I hope you enjoyed your glass of wine!

wantabetterlife

Thank you everyone for your kind wishes. We are all doing well and the baby is really good...he just eats and sleeps, which makes life a bit easier .
Me and OH supposed to be going out for something to eat tonight and i am really looking forward to it as i think i am starting to get cabin fever from being stuck in the house! However the snow is quite bad here and still falling, so i dont know if we will make it .

Made another £500 overpayment on the BTL mortgage...making it £1000 we have paid off so far...really pleased with this and am looking forward to getting the letter from UCB showing the new lower payment :j:j.
Have a good weekend everyone

wantabetterlife

Have spent the evening wrapping christmas presents and just have a few bits to finish off tomorrow , OH and me have just had a couple of glasses of wine to get ourselves in the festive spirit...he is working tomorrow but hopefully will finish early as we still havent taken the kids to see santa...so would like to get this done tomorrow.
Got paid today but trying to forget it is in the bank otherwise january is going to be soooo long!
Have a fairly large credit card bill to clear this month due to the extra expense of christmas :mad:.
My CC pays cashback and this is the main reason i use it, however i am finding it a real pain because every month when i get paid i seem to spend most of my wages paying off last months bill.
Last year i earned about £60 cashback but i dont know if it is worth it and i am seriously considering just paying for things with cash or debit card this year as i have found myself spending on the CC when i cant really afford it!
Am due £11 payout from quidco in January so that will go towards the mortgage
Hope eveyone has a great christmas. xo

pammyj74

I havent used my CC in the past four years. My motto is if you havent got it dont spend it. I see where you are coming from with the cashback though but can be tricky if you dont pay it in time etc.

Merry Xmas and hope you have a great 2011 :j

hastie

Hi, have a similar situation with own Mortgage outstanding + buy to let mortgage, however would it not be better to concentrate on reducing own mortgage as buy to let interest is tax deductable, and can be set against profit. Therefore more tax efficient to leave high?

Just a thought. good luck.

wantabetterlife

Hi Hastie, our rent on the BTL property does not even cover the interest on the mortgage, therefore there is no profit to tax. The theory is to to reduce the mortgage payments to roughly the same as the rent. We have overpaid £1000 on this mortgage so far and this has saved us £8 per month on the mortgage, which is £96 per year...i think that is a fairly good saving and certainly more than we would earn in the bank...plus we can get the overpayments back at anytime

First overpayment of £15 made today...received £10.82 from quidco and used a £2 voucher yesterday with the groceries, so have rounded this up to £15 and made an online O/P :j
Received credit card statment today and i have £77 cashback so far which i think is paid in february, so this will be another overpayment.
Wishing everyone goodluck with all their goals for 2011.

wantabetterlife

Hi everyone..i am finding it difficult to motivate myself this year and have been reading everyones diarys and their goals for 2011 ...so in an effort to kickstart things for 2011 in the wantabetterlife household i am going to write down a list of what we have achieved in 2010..here goes...


Paid £16,753 off our mortgage
Paid £1000 off our buy to let mortgage
Paid an extra £100 off my student loan
Earned £50 in boots points
Earned £50 in tesco vouchers
Managed to get half price sky subscription for 6 months, saving £150
Renewed broadband and have saved £120 per year
Saved over £50 on house insurance renewal
Have over £2000 in savings
Earned over £70 cashback on credit card
Earned approx £40 using quidc
Sold approx £50 worth of stuff on ebay
Used several vouchers/coupons to reduce grocery bill


Just seeing it all wrote down makes me realise we have actually achieved quite alot...and even manages to squeeze in having our third child , most of all we are all happy and healthy which is the best of all :j
Lets see what 2011 brings and goodluck everyone