Mortgage Free - so good they'll do it twice! Wynnvegas aiming for the big house

wynnvegas

Hi diadeb,

I've been a miserable failure in my MTi3-T2 advocacy and chief supportership. I need to have a wee check up to see how things are going now that the group is very nearly two years into the challenge. Really pleased that it's going well for you. Just think of the number of people that would love to be in the position to complain about an interest rate of 1.49% and if you're ever suffering with motivation, stick 6% into that calculation to see how much you're saving against the folk who chose or had to take a fixed-term deal at any point beyond 2007.

To be honest, I think that may well be the very last thing I'd consider. Dealing with issues from a different country with a different set of rules and a different language doesn't sound like anything other than an invitation for trouble. At least with properties in the locality, you have the option of addressing them at short notice in person. Hope you never have any issues with your one!

Cheers,

Billy

Brodiebobs

I was one of the unfortunate ones who fixed in 2007... 5.49% for 5 yrs thankfully it comes to an end in march, cant wait for the extra OP's!!

I say unfortunate but we've had two spells of unemployment between us, DH having 6 months and if rates had of gone the other way we would have been in deep trouble. Just glad we discovered MSE and now we make hay while the sun shines, so to speak!!

wynnvegas

Hi Brodie,

My guess at the time was that interest rates would drop to around 4.5% at most but, if I had put money on it, I wouldn't have bet on rates going lower than 5%. I was pretty confident of rates not going up but I can't say I would have been averse to a decent fixed rate deal. I feel for everyone who could have saved an extra few quid on interest and I hope (and suspect - although clearly don't take any account of my guesses) you benefit from a good wee while of interest savings once your fix ends.

Cheers,

Billy

gallygirl

wynnvegas wrote: »

Hi diadeb,

I've been a miserable failure in my MTi3-T2 advocacy and chief supportership.

Yes you have. I hold you wholly responsible for my failure to achieve my target due to my 'accidental house' purchase. Shame on you Billy :rotfl:

wynnvegas

Hiya Gally,

I'm having that as a bit of an overreaction to my neglect. Have you managed to perform the worst against your original target?

Cheers,

Billy

Twiddy

Hi Billy

Just wanted to pop in and say that your thread is pretty gripping and is unfortunately (or fortunately!), dragging me away from actually ending my lunch break (shame on me!), so I've gotta shoot off.

Before I go, great work on getting into the BTL situation. I'm not in that position yet but hope to be in order to top my pension up as I feel the measley amount it will be won't allow my wife to maintain her level of shoe-type garments!! And I don't want to have to deliver newspapers to supplement it!!

Congrats on the new role too, hope all goes well for you. Unless your negotiation with said Chairman included a good pension, BTL is the way to go to build it up, well played mate. This should push your net assets through the roof aswell!!

All the best
T

gallygirl

wynnvegas wrote: »

Hiya Gally,

I'm having that as a bit of an overreaction to my neglect. Have you managed to perform the worst against your original target?

Cheers,

Billy

It will be fine come 12/12/12 :whistle:;):o:):rotfl:

wynnvegas

Hi Twiddy,

My early new year's resolution is to learn brevity. I'll try to keep things shorter and sweeter in future to avoid eating into lunch hours in future!! I feel your pain on the shoe love...

We did talk about the pension so the net contribution is now up to a whopping 15% of salary (6%/9%). I'd still need to at least double that to match the pension I had with the NHS (6% contribution from me and 26% from the NHS was a better split).

The new role is going pretty well. I've got a meeting on Tuesday with the Board to motivate them into some sort of serious action which will be interesting.

Cheers,

Billy

wynnvegas

Hiya Gally,

I've every faith you'll get where you want to be with it. As far as excuses for failure go, "accidentally buying a house" has to up there with the best.

Cheers,

Billy

wynnvegas

Evening All,

I think I've solved my "using and abusing" quandry. In as much as some people are clearly up for renting, I'm ok with the landlord side of things. I'll be the good cop to investor 1's very bad cop as and when it comes to fighting the good fight - hopefully it won't ever need to. I'm wrestling less with the idea of taking advantage initially of financial and personal circumstances when negotiating the house price - that's unfortunately just business.

I have, though, decided to offset that abusive part with a minimum commitment of 5 hours per week volunteering. I toddled up to the Volunteering Centre today to see what they've got on the go - 1,200 opportunities as it happens! I'm planning a chat with the Chairman to turn our corporate and social responsibility piece into something real - a commitment of 1,000 hours a year from the Company wouldn't be a bad starting goal and giving our fundraising efforts to local charities and organisations we know instead of the massive faceless ones that dominate the rubbish guilt advertising arena would be a much better use of our collective time and money. More to come on this as I get to grips with what's required.

Cheers,

Billy