Abyss's Mortgage-Free Journey

Abyss

Mortgage now down to £53k. Yippee. Reckon DH can chuck in at least another grand this month, and next month we'll hopefully achieve another £2k+ off, so will hit the <£50k mark, which will feel awesome. I am really happy living frugally in the short-term, for the longer-term gains, and feeling really positive.

Been visiting the in-laws for a long weekend, MIL made a HUGE batch of marmalade, we have been sent home with enough to last a year, so a big saving there on marmalade for the next 12 or so months!

Abyss

Been busy with work hassles and house dramas so not updated in a while.
DH was clearing the loft, the last owners left loads of junk up there, so DH has been clearing it out, with a plan to clean it up, and store some stuff so we have more living space for this baby that's on the way. My brothers were helping, only one of them put their leg through the floor of the loft, and straight through into our lounge ceiling. Disaster. DH is going to try and fix it himself, will still set us back ££ as he'll have to buy the necessary equipment, but he's keen to get more handy, so it's a good challenge. Still, don't really need the hassle or the expense (bro is insisting on paying, seeing as he made the hole, but we don't think that's fair as he was here helping us in the first place, and it was an accident so are refusing).

Also had a financial 'setback' as we've decided to aim for a homebirth, having previously considered it impractical due to lack of space, but the midwife assured us they'd worked in smaller spaces, so we are going for it. But it meant £160+ on the birthing pool (hiring was £75, and we are hoping for a second (and third!) baby, so figured we may as well buy, can always use it as a play/paddling pool when the children are toddlers too). Then we've had to buy plastic protection for the floor, so it adds up, but I really am much happier about the prospect of a homebirth than being in the hospital/birthing centre, so sod the expense!
Also doing AnteNatal Yoga twice a week (£25) and am going to be having reflexology weekly from now until the birth (£50 a week), but I feel these are important luxuries.
Have bought the carseat now too, so that's another £200 gone, but that is it now, major baby purchases done for at least the first six months.

Also, my mother lent me a few thousand for my deposit six years ago, and has now asked for it back - it's only about £3k, it was just to get me up to a nice round deposit of £30k, so will be paying that back in four-monthly installments of £750 - can afford it, just means we aren't chucking as much at overpaying the mortgage. Oh well.

Mortgage is currently £51,500, still think we'll get it down to £50k next month, and that will feel like a really good achievement. Still generally being frugal, and despite holes in ceilings, baby/pregnancy-related splurges and loan from mother being called in, feeling happy and think we are doing well.

SmlSave

despite holes in ceilings, baby/pregnancy-related splurges and loan from mother being called in, feeling happy and think we are doing well.

I think you're doing wonderfully keep it up!

Abyss

Well, it's been over a month since I updated - have had my hands full with our new arrival.

Main financial update is that we have hit the £50k mark on the mortgage, which is a fantastic feeling. DH probably has another couple of grand to chuck at it too, he's just checking his CC bill for last month before transferring funds to the mortgage account. Are doing pretty well on the frugal front, our baby hasn't cost much, have indulged in a few things, but am generally pleased with our spending.

museumworker

Congrats on the new arrival, and also on getting your mortgage to £50K. I dream of having one that size - ours is £194k on a house worth about the same as yours!

What are your tips for other MFWs?

knithappens

Congrats on the new arrival

CathT

Congratulations on the arrival of your baby. Those early weeks are hardgoing but still so wonderful. You're doing amazingly with the OP's!

tootallulah

Many congratulations on your new baby. I hope that you are enjoying yourself, and are getting some rest when possible!

Abyss

Thank you, Everyone. Am loving motherhood. Best thing ever.

museumworker, mainly, we have been very lucky.
Firstly, I've managed to pick the right mortgage each time I've remortgaged - first time, I was on a tracker, and it ended up being the right move, next I gambled on fixed, and that worked out for the best, and now I am on tracker again, and have been very lucky that the payments have come right right down because of interest rates - they've really worked in my favour, so we've had extra to throw at overpayments.

Next, bear in mind I took on this mortgage when I was single. Now I am married, we have double the money coming in, which I hadn't banked on, so my husband's salary is getting chucked at the mortgage.

I have always been frugal - I do indulge in a few luxuries, but things like coffees out, magazines etc, I see as a complete waste of money, so I don't fritter my cash away on these little things, and the money soon gets saved. We don't tend to go out much to places that cost - e.g. theatre, cinema, concerts etc, and those savings soon add up too. I don't drink, so no money spent there - DH hardly ever drinks either. I barely buy myself any new clothes - simply don't need them. I haven't upgraded my phone in years, so am on a cheap tariff (though the handset now is just about holding itself together, so will have to upgrade soon - but I've really looked after my phone, and made it last.) It really is watching the pennies and the pounds taking care of themselves. We are happy this way - when I think of how much this mortgage is costing, I just want to pay it off asap, and THEN we can indulge in treats and go crazy! Good luck to you!

[Deleted User]

Hey Abyss
congrats on your new arrival :T
well done on your overpayments, sometimes with a "london-size" mortgage I can find it overwhelming to see how itll ever be paid off but its great to see what you have achieved! like you we arent big drinkers , nor do we have massively expensive hobbies/outings (OH does have a love of buying dvds and computer stuff tho! ) but it can be easy for me to sometimes slip back into the buying magazines/coffee/sweets as a "treat" !... Im sure are you say, the pennies quickly add up to savings

hope you are enjoying your time with your little one and getting some rest too