Pay off mortgage and start having fun!

newgirly

That must be so frustrating!

Happy Easter everyone :easter_ba the sun is still out here in Essex, hopefully it lasts

The whole house is till in bed, the lazy lot! I have been up making the living room look Spring like, I was bought some orange roses by mil and have arranged them in three little glass jars along the window sill.

Time to do the accounts now, back later with an update.

newgirly

newgirly wrote: »

newgirly wrote: »

March update!

Start figures:

Mortgage £128,772.64
Fluid. Cc. £3,286.10
Santander cc £4224.73
Loan. £29,060.64


Total at Jan 1st £ 165,344.11


As at today:

Mortgage £125,947.98
Fluid cc. £3188.51
Santander cc. £4099.25
Loan. £ 27,480.76

Total today; £160,716.50

Total reduction so far this year: £4,627.61


Total jan reduction :£2,193.54
Total Feb reduction:£1,904.43

Total mar reduction: £529.64


Not sure what I did wrong with the update, it seems i have added marches payments into febs update, making marches look rather sparse!

I set a target at the start of March to find an extra £150 to op as it was going to be a tight month, in the end the total was £807.67 made up of £682 refund from switching the cruise to a cheaper one and the rest made up from change jar and various other small bits and pieces.

All straight now, paying for the car/cruise etc. So back on the ops full pelt minimum monthly payments to clear in term ( 6 yrs 1 month) are £1836.03.

Still have £20 left to spend on the cc for food and petrol until Friday, not sure how we managed to stay under budget, perhaps having 2 X shopping deliveries of just value stuff

Aprils targets:

Make minimum payments obviously
Keep gas/elec reasonable whilst kids off for 2x weeks -difficult !
Keep shopping as low as possible

There should be a surplus for op's monthly from now on, still not sure whether to op the whole lot or save some as well.

newgirly

I forgot to add the rather depressing figure of what I had set my first target of the year at £7,500 for the first three months. After buying an unplanned car and booking an unplanned cruise we are :

Short on the target by £2,873 :eek:

Cruise cost £1001 including parking/tips/spending money

Car cost £1,911 after part exchange incl. extra insurance/tax

That's £2,912 in total extra money spent, naughty naughty :eek:

£323.55 pm to make up the shortfall if I want to stick to this years 30k target (which I do!) it should be possible , but I must not buy any more cars :rotfl:

AlexLK

Shocking, NG ... utterly shocking.

Seriously, well done on the OPs.

Goldiegirl

The debt is heading in the right direction, so it's all good !

Firegirl

It's such a hard balance isn't it. Enjoying life and being sensible. I was chatting to my brother the other day and he has a 15 year old and was saying they are def going on a holiday every year now because they only will have a few more before he goes with his friends. enjoy you car and holiday, don't feel bad- life is for living!

newgirly

Oh dear fire girl, I have 2x 15 year old boys who didnt want to go away with us (hence we booked the mini cruise without the kids!) terrible parents :rotfl:

Mortgage woes and dramas today, I had a look at the paperwork for the dodgy (not illegal dodgy - crazily expensive dodgy!) loan we got to buy the factory last year (shudder) and have decided we really need to plan for this other than just doing as much work as possible and hoping to get a mortgage in two years :eek:

If we can get the mortgage great, but I think we need a belt and braces approach, so am thinking of upping the wages (not sure if this is feasible) and saving for the balance whilst taking a two year break from our personal mortgage :eek::eek::eek:

Much more thinking on this needed.

greent

Sounds like a discussion to be had with a professional, even if just asking your accountant what they think of the idea?


x

AlexLK

greent wrote: »

Sounds like a discussion to be had with a professional, even if just asking your accountant what they think of the idea?


x

Absolutely needed, NG.

newgirly

Yes I will do, just not sure in my mind that I want to take the risk of pausing the mortgage on our home with such a short term. It's why we didn't do it last time and currently have an expensive loan on the factory, ideally we will be making lots of money in two years and will just get a normal commercial mortgage on it. I prefer to look on the negative side though :rotfl:

My Dad has offered to buy the factory and rent it to us, which is something dh would not do. It has taken a lot for us to get this far and it's our pension (hopefully, all going well) plus we only owe 80k on it and it's already gone up probably around 50k in a year, rental value is around £25k per year. We would be mad to do anything but hang on to to it, it's a brand new site with 20 small to mid sized units in east London, built to be be as "green" as possible, there are no commercial units going up n the area now, they are all coming down to have flats built on them, so there is a massive shortage.

Anyway, on to more exciting things - I am going to the Harry Potter studio tour today (again!) this time we can go inside the dursleys house apparently :T it's my favourite place on the planet, I could live there just dd and I this time, we are going with my best friend and her little ones who have never been, can't believe she has paid for a headset each so they can hear the talk on the way round - totally uneccessary with me and dd around :rotfl: we will also be admiring some items made for the second film in our factory