2011 diary - MFW - Can't quite believe it!

cha97michelle

I hope you are very happy in your new home, and good luck unpacking. It takes ages to get it all how you want doesn't it.

Your plans sound really sensible, and I know what you mean about rather owing your bank than your mum.

CathT

Well done on the house move! I bet the house feels huge. Well done on moving while the housing market is so sluggish, I'm sure I think no one sells houses anymore! Read back through your diary and realised we are in the same profession aswell although I have only been qualified 15 months.

pammyj74

Ooh its brilliant that it has gone so well. Really pleased for you. Hope the lads are enjoying their new home and extra space!

Caroline73_2

Using the slow dongle at the moment...broadband gets connected on Monday, woohoo!!!

The house is all unpacked, which Pam can confirm as she visited this afternoon. We had a nice catch up as it's been ages. Weirdly her daughter had been here before as she goes to school with the previous owners daughter.

So officially I am a DFW not a MFW because of the money I borrowed from my mum for the move, but as it was for the move I refuse to go back to the DFW board and I'm staying here!

I owe £4700 to my credit card on 0% interest and the mortgage is just under £170000. I have £107k at one interest rate, which was my old mortgage product ported across and the rest at a rate 0.2% higher. I'm not anticipating being able to make any overpayments this year. We do have a PPI claim in at the moment which could pay off the CC if it's successful, but I'm not holding my breath.

I'm torn at the moment between paying off the CC asap or spreading it out over the interest free period (until next July) and doing the house up. It's nothing major, just furniture and painting. There are some interesting feature walls here!

pammyj74

It was great to see you yesterday, nice to catch up. I'll bring my sunglasses next time for those feature walls :cool:
As its 0% CC I would spread it and do some of the house up. You wont settle properly until you do.

Caroline73_2

You know me so well Pam!!!

We've sat and gone through all the figures now and have decided to pay £500 a month off the CC and any other spare will go towards doing up the house. I'm looking on ebay and the local auction house for bits of furniture. We also have lots of furniture warehouse around here so hopefully we can get the bits we need cheaply.

When going through the figures I looked up how much we had paid out to solicitors, house deposit, EA etc and realised that if we hadn't have moved house I could have overpaid over £15k on our mortgage this year. Wow!

MFW mindset is back in full flow. I'm currently listing on ebay. My overflowing wardrobe is being sorted...I thought I'd done it before the move!!!

Caroline73_2

Update!

So this time, its serious. Today we have received our PPI from Lloyds so we are back to officially being MFW rather than DFW. We have paid off the CC and have about 3 months worth of bills in savings.

Let the overpaying begin!

Twiddy

Hi Caroline

Just caught up on your dairy, and what a journey its been so far!!

Great work on the move and the determination to get that new mortgage down. We'll be doing the same when our fix ends next April.....

All the best
T

Caroline73_2

We still have two years on our fixed and its at a very high rate because we have a 90% LTV. Another good reason to overpay as much as we can!