Jaywhoopee's MF diary

jaywhoopee

As a Sharesave scheme from work just vested I've been able to overpay an extra £473 on top of the regular £313 this month, as well as topping up an ISA before the end of the year.

I've updated the target to £5000 again this year, as this larger than expected OP will put us over our £4500 target

jaywhoopee

We managed to clear £1050 from the balance this month and we're a fraction under 45% of the 2013 OP target.

I've also noticed that our daily interest is below £12 for the first time :j

jaywhoopee

This month I got my annual bonus, so I overpaid the odd £300 on the mortgage balance and put the rest into an ISA.

I think that gets us back on track to hit our £5000 target this year and to keep up the unbroken run of clearing £1000 per month from the balance, which we've been on since 2011.

jaywhoopee

We went on holiday last month, so this month's overpayment is a little smaller than usual, but we've still reached the £140k milestone. :j

As we've also engaged an Architect to draw up some plans to extend the house, I'm not sure how long this will last, however

At the very least we're likely to need to borrow back the overpayments and very probably some more besides (or if they can't come up with a plan that works we'll probably end up moving again!)

jaywhoopee

Another month, another £1,100 cleared from the balance of the mortgage. :beer:

The Architect came up with some great ideas for the house, so now we're aiming to get planning permission and some firm quotes from builders this year and start work next year.

As we also want to replumb, rewire and redecorate the whole house at the same time, I'll be very surprised if we manage to get it all done out of savings and the overpayment fund.

That means the mortgage may creep back up towards £200k again, but we think it'll be worth it to be able to stay in this nice quiet street.

In other good news, the gas main in our street is being replaced, along with the pipes from street to house.

As the workmen weren't able to run the new pipe to the gas meter in its current location, we were able to have it moved for free to a much more convenient place, so it's no longer in the way of a new doorway on the plans.

This probably saved us a few hundred quid! :money:

jaywhoopee

Final overpayment of the year made, £1050 cleared from the balance of the mortgage.

We've also now passed the £50k capital repaid milestone :beer:

jaywhoopee

Just a quick update:

So far this year we've overpaid about £1,600 - bringing our total overpayment fund to over £20k. :j

The 5 year capped tracker deal comes to an end in October, but we'd really like to get moving on the extension before then if possible.

We're currently in the process of getting some additional borrowing in place with our current provider, so we can crack on.

This will take our total mortgage debt to just over £200k, about £15k more than we've ever owed before and our mortgage term back to 20 years, but hopefully it'll all be worth it once the work's done ...