Pay off mortgage and start having fun!

newgirly

Productive day today, gave ds1s room a rare deep clean , I am not usually a chambermaid but it was a bit grim and he was at work all day with dh. Did the ironing up to date so far and cleaned the house, now about to open a bottle of ald* prosecco and sit down

LadyGnome

I think I would need prosecco after cleaning a teenage boys bedroom (and I don't drink:rotfl:)

I wouldn't be surprised if the business is busy in the next few years as the Government have a heck of a lot of legislation to look at and amend. Lots of paperwork!

York is really nice. It's been a few years since I went there but DS1 did a week long school trip there and DS2 does the same this year.

newgirly

Trust me ladygnome, cleaning my kids rooms would turn you to drink :rotfl::rotfl:

Hopefully the work will continue, although perhaps not so much all at once!

smallholdingsister

Great effort to do that all in one day.

Kittenkirst

Hope the bottle of prosecco went down well NewGirly

newgirly

Yes thanks kittenkirst - as per usual :rotfl:

I am sunburnt :eek: we "popped" to the bootsale first thing this morning as the boys wanted to go look for retro games, well the queue was one and a half hours on the A road to get there instead of the usual 10mins, then thousands of cars and I have no idea how many people, I believe it's normally the biggest in the country anyway, but today was insane! They got a few old games and some fresh air so it was worth it.

Then dh and I invited ourselves to my parents for half an hour on the way home for a quick beer in the garden, then home for a spontaneous BBQ for us all and dds boyfriend and his dd, they are now all playing monopoly on the wii, which is nice but I have lost my living room for the next few hours so have showered and am resting on my bed

AlexLK

Sounds like a good day, apart from all the traffic and sunburn.

newgirly

Thanks Alex, yes it was a good day

Weigh in day tomorrow, last week I put on the pound and a half I lost the week before this week I really hope it's back off again as I've been making more effort, although I have still been drinking which I shouldn't be really.

Budget wise -terrible already! Mostly on food shopping, plus drink bought too, as well as 3 sets of vintage floral bunting for the garden, it's clearly an essential purchase when on a tight budget :rotfl:

Day off today, I'm getting up to clear the downstairs up after yesterday's fun, then a long dog walk, check the accounts, then off to the shops with mum and aunt for a coffee and catch up.

Small to do list for today:

Change sheets

Cook up or freeze meat In fridge

Make 2days of lunches for work (egg salad and fruit)

Do washing

Ironing up to date

Pick up ds2's asthma inhalers

Buy sun cream!

Look at 3/4 night holidays for may for dh and I , he said he MAY go away when the big job is finished :T no budget for this, so it would be from mortgage ops boo!

newgirly

Not all of yesterday's to do list got done, I got distracted going through the finances.

Our debt is made up of our mortgage and an unsecured loan which the company pays for. The loan rate is about 1% higher than the mortgage and is due to end April 2020 , the mortgage official end date is April 2022 , however at a real push I would love it to be August 2018.

The two basically run sepeately, we did have a different dearer loan which I re finances to get cheaper last year, but we don't op the loan.
Origionally we decided to just let the loan tick over and op the mortgage.

Looking at the figures though, and after getting a redemption figure for the loan, I think it may be better to clear the loan on full now from the offset and then put the monthly loan repayments from the business to our mortgage.

What happens is we will still effectively finish paying the mortgage august 2018 but there will be a balance left owing equal to the monthly payments received by the company to clear the loan of that makes sense.

So a balance of around £12/13 k still with an end date of April 2020, he money we receive monthly is currently slightly higher than the loan payments as I overpaid the origional loan by a few thousand with our own money.

The down side is we will not be officially mf August 2018 but will personally stop paying the remaining balance which is the same as having it left outstanding on the loan (clearly this is not such a nice feeling if you are a mfw !) but the upside is about £150pm extra to live on and we still have exactly the same money left next August except it's owed on the mortgage instead of the loan and he company is paying it.

Phew, I hope that made sense we didn't go down this road in the past as i wanted to keep the money I was given in our personal finances and the company was not doing well. The sistuation has improved now and the loan is smaller so it it seems a good way of making life easier whilst still effectively being mf next August.

Actually added to that is the possibility that if the business re finances to get a mortgage it can pay us back with a lump sum anyway much sooner than than the end date of august2020.

I think it's worth doing as life is going to be too hard managing on £560 pm for nearly everything :eek:

AlexLK

Sounds like a sensible plan to me, NG.