Hopes and dreams for a new home...

Iris_Blue

Where do I start?

I want to write this as a record of (hopeful) achievement so that I can see just how much I can pay off our mortgage in the shortest time possible. I welcome comments, encouragement and hopefully words of wisdom along the way. I hope that you can join in with me.

About me and mine...

I'm a 30 something, happily married living with our * children in the north of England and currently expecting number *. We have a very good life and are extremely fortunate to have what we have although saying that it’s only human nature to want more.

Wants...

We would love to move to a larger property, due to the size of our family. We would also like to move to a different area. I’m not after a mansion, just something big enough for us all to live, so that we all have plenty of space in a beautiful home in a lovely location.

So far...

As of the beginning of August this year the mortgage was £89,955.26, not too huge I know, but we really want to reduce this amount for when we apply for our new home. The Halifax has kindly informed me that we’re paying £8.60 a day. (I can’t believe I’ve never found this information out before) so August has been our first ever overpayment month.

We have paid an extra £388.17 this month and I’m hoping that we can pay some more before the normal monthly payment on the 28th. I’ve completed a spreadsheet so I’m hoping that these two figures match when the online amount is updated on the 29th.

Fingers crossed!

Iris

greent

Hello and welcome

Good luck with your quest - I shall subscribe so that I can follow your progress

cha97michelle

Good luck with your challenge. I love my diary as i can read back and see just how far we have come. Looking forward to seeing how you do it.

l33na

:wave:good luck with your journey. I will be looking forward to following it.

£8 interest daily:eek:(note to self -check how much I am paying).

I also made my first op in August in the hope that I can have a good ltv if I decide to move in the future.

Iris_Blue

Thank you Greent with 4 children you are one for me to follow ! I could learn a few things from you.

Michelle - Thank you. I follow your thread daily. You're my role model
I told you that I was thinking of doing a diary and here it is ! Guess who yet?

I33na ... Every Friday night the two of us purchase a Asda Curry "takeaway" priced £7 and we buy some panache (shandy) from Mr L's for 1.49 for 10 little bottles and snuggle down and watch a film..we love it ..anyway I told OH last night that we could actually eat that every day in what we are paying in interest daily. Now that IS shocking !

I'd be interested in knowing what you pay in interest if you want to share it ? Thank you for your post and good luck in your journey.

Iris

Iris_Blue

Little acorns to mighty oaks...


Heres’ the little things I do so far, it’s probably just what everyone else is doing anyway but any other ideas for me to do are welcome.


Cash back sites: FCheese and TCB which I mainly use for purchases. I’ve claimed £224.94 so far with £50.56 pending. Not bad going getting money for buying is it? This money will now go towards the OP’s

CBC, CBC & GPB - I’ve stopped daily clicking as I now feel it’s just not worth my time. I have £10 in each waiting to clear which was just over a month’s worth of clicking

Scratchies: BBingo (the holiday site one) and JPJ which I really should give up on

Imeasure : Since logging our weekly energy results last year and actually taking notice of what we use ,the monthly combined payments has decreased from £120 pm to £86...not bad for switching a few lights off here and there! O.k. it’s more than that really but you get the gist.

Food ...We eat a good diet for £100 per week for 7 of us including lunches...any little extra leftover has started going in a mortgage jar for Oping.

Ebay – I know that I need to put myself out and list some items. I need to find the time.

Budget wise it’s difficult to know at the moment just how much we can overpay a month. OH has started a new job and with being 6 weeks without pay we are unsure what his monthly income will be until the end of September when he completes a full month. I’m currently on maternity leave until...I think it’s February.... so we have my pay coming in until then. We have decided that I’m not going back to work as we want to concentrate on the little ones plus child care is an issue for us. TBH this is a huge relief and since I’ve been off work I’ve found that we actually spend less as I have more time to hunt for offers, look for better deals, cook etc.


I’m very excited ...about OPing and I think I’ve become a mortgage bore in OH’s eyes. Although saying that he’s fully on board with it all but he’s slightly more interested in getting a Nissan GTR. Does he know how much they cost??! (Hmmm How many pairs of shoes could I buy with THAT amount of money )

Iris

greent

My daily int is around £12.35....:eek: down from about £13.21:eek::eek: in January

I really don't want to think about what it would have been back in Jan 2009...:eek::eek::eek::eek:

Iris_Blue

And just think what you "could" be doing with that a day !
You're now saving 86p a day ..that's actually a big daily saving. Well done you! ..the price of a bag of chips? ...why is it all my interest calculations seem to be matched against food! Hmmm....

It really is a jolt to the system isn't it? I think I could have happily plodded along until I realised the figure I'm paying.

Iris

SmlSave

Ohhh a new diary to follow Hi Iris

greent

ooh - chips must be cheaper where you live, Iris!! That's about 2/3rds of a bag of chips I'm saving a day down here! Should be even less after October - 75K of our mtge is on a fixed rate that expires and should go to SVR of 2.5% - quite a saving......

l33na

hi re the interest. i checked today and was told its £2.74(small as am on a very good tracker).


Will really have to check these CB sites that are all the rave/