My Mortgage Free Diary

mpgsheep

March Update
Phoned Direct line and the mortgage is:-£149,267.50

Overpayment Savings
E-ISA - £5,564.14

Total Overpayment Savings = £5,564.14

Mortgage remaining = Mortgage - OP Savings = £143,703.36

Regular saver is now finished, so from next month have an additional £300 to spend. Atm have added £100 to overpayment fund, £100 into our easy saver, which we use for "projects", as still got decorating plans for next few months. Last £100 this month am keeping for myself, as need some new clothes.

mpgsheep

April Update
Phoned Direct line and the mortgage is:-£149,146.47

Overpayment Savings
Online ISA - £6,136.64 - changed to Online ISA, so got a boost from interest paid on old ISA

Total Overpayment Savings = £6,136.64

Mortgage remaining = Mortgage - OP Savings = £143,009.83

Should have a good start to the new financial year, as my FD regular saver interest is due at the start of next week, so this (plus a little surplus not required to pay off CC), will go into the ISA as an overpayment. Our redecorating projects at home are done (for now), looking forward to building up this ISA a bit, however this will be put on hold later in the year as my wife is pregnant, and due on 1st September (will be our second). However still think we will be able to continue saving despite some drop in income. Hopefully get below 140k this year, at a minimum.

Peonie

Congratulations. How many weeks is your wife?

mpgsheep

Thank you, she is due September 1st, so think that means we just passed the 20week mark. Halfway there! seems to have gone much quicker this time round.

mpgsheep

April Update
Phoned Direct line and the mortgage is:-£148,523.47

Overpayment Savings
Online ISA - £6,336.64 - changed to Online ISA, so got a boost from interest paid on old ISA

Total Overpayment Savings = £6,336.64

Mortgage remaining = Mortgage - OP Savings = £142,186.83

Got a few little extras coming in over the next few weeks, so these will be funneled into the ISA. Getting close to the 140k mark which is nice. Also just passed (basis evaluation last April) the 25% LTV mark, useful in case it ever makes sense to remortgage.

Peonie

Which ISA have you moved to? It's amazing you are continuing to add to the ISA with another little one on the way.

mpgsheep

Stayed with nationwide, as still at 3.1%, just moved to this years new product. Reminds me that I need to do same with the emergency fund ISA, which is on last years product. Ref overpayment, well I that £200 per month ringfenced as a "must pay" each month, this covers us also if interest rates rise too. Will take a hit on personal spends/flexible savings once my wife starts maternity leave, but whatever will continue to overpay!

Peonie

That's good you will continue to overpay. I think I'll have to stop all saving.

mpgsheep

May Update
Phoned Direct line and the mortgage is:-£148,391.70

Overpayment Savings
Online ISA - £7,100.00 - Few bits and pieces came in this month, and rounded up to nice neat figure.
Total Overpayment Savings = £7,100.00

Mortgage remaining = Mortgage - OP Savings = £141,291.70

Should be able to step things up for a couple of months to get below 140k before the baby arrives (1st September).

mpgsheep

Am eagerly awaiting to call Direct Line tomorrow to update my status...how sad am I! believe we should be below the 140k mark...