Five years for Spigs to be Mortgage Free!

Sepa74

Hi Spigs, I'm like you, can distinctly remember turning down PPI offers as it wasn't appropriate for me, and I also check bank statements every month so I would know had I been charged for it and would have complained!

So no PPI bonanza for me, but at least it saves me the hassle of trying to claim.

Spiggle

Spiggle wrote: »

...
After the reg saver payments go out on the 10th and the payment to the 0% goes out on the 12th, we should have a net debt position of £32,951. :dance: ...

Oooops,

Made a bit of a booboo there! Tried double counting this month's reg savings.

So net debt on 10/11th June will stand at £33,646.

Still pretty chuffed at that.

Hi Sepa74, today I saw the cost of all the searching - £5.42 in phone calls. :eek: Nevermind, I'm sure that this is more than covered by what we've already got and will hopefully also be covered by what's to come back too.

All the best,
Spigs

Spiggle

Well here we are on Friday 13th which seems an appropriate time to update on where some of the figures [STRIKE]are[/STRIKE] may be.

Instead of paying off the credit card, I spent just under £300 on a refurbed laptop upon which I'm writing this now.

Unfortunately at just the same time my beautiful baby girl cat who was ten years old became sick. After a very long week and a lot of back and forth to the vets and hospitalisation for a long weekend, she went to sleep and is at peace in our garden. She is missed every day.

This also had a big effect on the month's finances as I had a £400 hole unbudgetted for. I think we've covered it though.

During this time I took my desktop to work to be upgraded to W7. Unfortunately, a mistake was made when backing up and all my files - documents, spreadsheets, music, photos, the whole caboodle - got overwritten. So three years of accounts records have been lost. Recovery is still being attempted and if they fail in work the HDD will be sent to a recovery company. Until this final stage has been completed I just can't spend the time in rebuilding the spreadsheets.

So, the following figures will be guesswork except for the credit card which I finished paying off today. From August the £95 payment will be rounded to £100 and transferred towards paying off the 2nd mortgage.

So:

Mortgage 1 £36,946
Mortgage 2 £4,348

Total Debt £41,294

Recorde MOS £9,040

Net Debt £32,254

I will try and get some more savings into the Monmouthshire before the end of the month and will report that next month if it happens.

That's me then. Never thought I'd be monitoring my outstanding mortgage from the figures on this thread but it's all I have at the moment.

See you in August.

All the best,
Spigs

Long_tall_sally

Oh dear Spiggle, not good news about the lost data, hope you get it sorted.

Spiggle

Thanks for your kind thoughts LTS, much appreciated.

I've contacted the mortgage company today for another reason but while I was on I was pleased to hear that my figures and theirs almost tally. They have an outstanding balance of £41,222 (rounded) as at today's date. So we're a lot closer than the last time I asked which can only be good. I will though keep using my numbers.

I do have a grrrr for today though. The CC company have never taken the direct debit later than the 13th of the month since I've had it. Other companies have also not drawn on direct debits when I've made extra payments during a particular month. So I was pretty miffed this morning to find the direct debit was drawn today. Grrrrr. Not very helpful at Barclaycard who I have to ring again to get my money back (which probably won't be quick).

Ah well, life is sent to try us ... just like our so called 'summer' I suppose.

See you soon,
Spigs

shala_moo

Hi Spiggle..

Just read through your diary.. hope you've sorted your lost records out, keep meaning to get an external hard drive myself to back up everything but never quite get round to it

Can I just ask - the new regular savers that you opened this year, were they with FD again?? I had a regular saver last year with them and i didn't know whether it was a one time offer of 8% so i opened a new one this year with HSBC instead at 6%..

Spiggle

shala_moo wrote: »

Hi Spiggle..

Just read through your diary.. hope you've sorted your lost records out, keep meaning to get an external hard drive myself to back up everything but never quite get round to it

Can I just ask - the new regular savers that you opened this year, were they with FD again?? I had a regular saver last year with them and i didn't know whether it was a one time offer of 8% so i opened a new one this year with HSBC instead at 6%..

Hi shala_moo,

Thanks for dropping by. The HDD is still with work/data recovery and I'm not asking at the moment. Don't think I really want to know!!!

Yes, they were FD reg savers. Basically FD transfer the balance into the FD easy saver account and then the next day I opened up the new reg savers. It's not a one off offer but obviously at some point the % rate could change on their current offer. There's nothing out there to beat the FD reg saver rate at the moment. I think the calculator told me I needed something like a rate of 6.4% on an ISA to beat the FD.

Hope that ramble helps.

All the best,
Spigs

shala_moo

:jThanks for this info - here was me assuming I'd had it once and that I couldn't have it again!:o

I shall be opening a new once then once my share save scheme at work finishes.. should be next month - if i didn't miss the money before then i won't miss it now!

Spiggle

Hello,

Time to give an update for August still using the numbers on this thread to work out where we are.

We are awaiting a new boiler and two rads being changed later this week and so have had to reduce down the MOS massively this month. The total cost will be about £2.2k.

So we reduced the FD reg saver amounts to a minimum of just £25 into each and nothing has gone into the Monmouthshire. I did still pay the extra £100 off the second mortgage but will reconsider this for September. The reg saver will remain at minimum for September too.

I have a fair chunk of the boiler cost already waiting and am currently weighing up the benefits of taking some money back out of the Monmouthshire to cover the rest. This makes far more sense (now I'm typing it out) than the interest I'd pay on the overdraft that I've arranged to cover cost shortfall. I'll do some proper sums when I've finished and posted this.

So, today we stand at:

Mortgage 1 £36,572
Mortgage 2 £4,156

Total Debt £40,728

Recorded MOS £9,090

Net debt £31,638

A good place to be as of today. It will of course change when I take some of the Monmouthshire to fund the boiler.

I'll come back once I've worked out exactly where we are going to be.

If you've read this far, thanks for persisting with my ramblings!

All the best,
Spigs

Spiggle

Definitely time for an update!

Unfortunately, my baby boy cat found life without his twin sister too much so he literally gave up and now sleeps in the garden with my beautiful girl. We are still heartbroken so I won't get new kittens yet.

Ok, so I've made my final OPs for this year and am starting with fresh figures to begin my two new challenges, MFW2013 and MFiT-T3.

The MFiT-T3 target in my signature does not account for the MOS for a couple of reasons. Firstly, I may still have my usual 'wobble' come spring. Secondly, I am seriously considering getting some work done on the house which will be easier without little fur balls around. This does though depend on prices for the work. I'll definitely have the lounge/dining room ceilings skimmed/reboarded/plastered. I may have an RSJ put in to open the two adjoining rooms out more and put in a faux fireplace/chimney breast. We'll see.

If you've read previous posts, you may notice that I managed to not use the overdraft but had to raid the MBS to cover the new boiler and rads.

So, for the new year here are my starting figures:

Mortgage Outstanding
Mortgage 1: £34,998
Mortgage 2: £3,348
Total: £38,346

Mortgage Offset Savings (MOS)
RS: £6,000
ISA: £5,340
MBS: £150
Total: £11,490

Net Outstanding Balance £26,856

Roll on 2013!

All the best,
Spigs