I've had my LBM and now it's time to sort it out once and for all

Primrose2004

No they haven't called back. I don't like being called up out of the blue, I wonder what she wanted? Think it didn't help that she couldn't say my name properly and it's not exactly a tricky name, typical 1970's name, there were always at least 2 of us in my class called it!!

I jus sat and listed 8 items:j:j Go me:rotfl: Better than nothing and a good start at clearing the [STRIKE]tatt[/STRIKE] wonderful items

firesidemaid

for some reason i just went back and had a look at your soa.

have you thought about updating it with your increased income - not necessarily on here. your budget was actually quite tight before.

re. your mortgage - at £779/month for 100k the rate is either 7.79% or over a lower amount of years.

who is it with, have you considered increasing the term or going interest-only temporarily or even a mortgage payment holiday? sorry if you have thought of this already x

Primrose2004

firesidemaid wrote: »

for some reason i just went back and had a look at your soa.

have you thought about updating it with your increased income - not necessarily on here. your budget was actually quite tight before.

re. your mortgage - at £779/month for 100k the rate is either 7.79% or over a lower amount of years.

who is it with, have you considered increasing the term or going interest-only temporarily or even a mortgage payment holiday? sorry if you have thought of this already x

Hi FSM, I should update the SOA, indeed it is quite tight. I'll give it a go at some point but there's no many changes:(

The mortgage is fixed until Feb/Mar 2012 so can't be changed at the moment. From memory the rate is somewhere around the 5% mark and is now over 15 years, or it will be in Feb/Mar 2011. We started paying the mortgage in 2001 and it was over 25 years then. We can't change until the fixed term has finished, not without a penalty. The thing is once the fixed term is up we will be in a better position to afford the payments as I will be able to work more as ds will be in school. This was the plan and why we fixed for 5 years(fixed just before ds was born so that we knew where we were) in hindsight we should have gone interest only or over a longer term when we fixed. I don't want to have a payment holiday as this affects your credit rating(I think)

The thing is I know we will be better off soon, we will have enough childcare vouchers in the 'bank' to stop having them deducted from dh's salary in about May to cover ds' childcare until he starts school in Sept. This will give us about another £165 a month. then in Oct I plan to go back to work everyday(currently only work 3 days) this will give me another 10 hours pay a week which will amoutn to around £300 net pay extra a month. Then in June 2012(seems like a long way away but it'll come round in a jiffy!!) My loan from work stops so that's another £138 free.

I just need to get through the next 6 months and we'll be fine:rotfl::rotfl::rotfl:

I will re-do my SOA and see what it looks like:eek:

firesidemaid

i think, that even when you are in a fixed rate you might still be able to change the term (for maybe a small fee) or go interest only - the bank will still get exactly the same from you in interest per month, it's just that you will pay less of the capital per month.

also, you can usually overpay on most mortgages, even fixed ones, so that if you did decide to lower the payments till say the end of your fix, if you found yourselves in better circumstances in 6-12 months, you could just overpay rather than change back.

it may not be for you, but i just wondered if it would give you some breathing space?

also, maybe check your mortgage figures/rate, as 5% on a 25 year 100k repayment mortgage should be significantly less than £779 a month.

Primrose2004

I appreciate your thoughts and I will have a look into the mortgage. The term is only 15 years though not 25.

Food for thought...

Primrose2004

oooo dh has had a call about an inurance claim he's been waiting on and it has final been settled and we will have the money in around 2 weeks:j:j this means we can breathe <<<ahhhhh>>>

It also means the money sat in paypal can be used to buy christmas presents and so that I can have my night out on saturday without feeling guilty(well not so guilty!!!!)

We're plannign on more ebay listing tonight whilst watching the Apprentice, I do like a bit of Lord Sugar:D

Primrose2004

I've just had my Tesco vouchers, £45.50!! This does include some old vouchers that I had forgotten about and they have re-issued. I havent' spent that much in Tesco over the last 3 months:rotfl: So now I can work out what to spend them on:T And I think I mentioned in a previous post (i'll have to check back) that I have a few Nectar vouchers to spend too.

I'm also waiting on a £50 John Lewis voucher and have a £15 BP fuel vouchers to spend, although that is one where I have to re-claim the money.

I wonder what christmas presents I can get from the Tesco and Nectar vouchers?

Primrose2004

Sorry for waffling but i've just foudn £24 in Clubcard vouchers from previous statements so that's £69.50 altogether!! I need to check out the rewards before the rules change in 2/3 weeks

jwil

That's great news on the insurance payout, yay!

Thanks for the reminder on the Tesco vouchers, I think I've got some which are due to expire this month, so I need to dig them out.

We were saving them up for a holiday, but not sure if it will be worth it now they are changing the rewards. Grrr..

Primrose2004

Glad my waffling is of some use jwil:D If you find they're out of date just call them up and they'll add them to your next statement, that's what I did and have just got them included in this statement.

I have just updated my signature and it looks like we will be ok this month. All bills have been paid(apart from the Next account which i'll do in the next day or 2) and We havn't had our child tax credits yet. I need to get some shopping in so will spend some money but i'm going to transfer some paypal money to tide us over for the month.

I am going to spend a while tonight looking into what I can spend my vouchers on and the rest of my evening ebaying. I think I may even treat myself to a glass or 2 of wine. I haven't had a drink for nearly 3 weeks for one reason or another and I think tonight should be a nice, chilled evening. for once!!

I'm sure i'll be back later to report on how i'll spend the vouchers:D