Mimi's mortgage plan

Mimi09

Only 4 sleeps til school....seriously flagging now! Next year we'll go on holiday in the middle of the summer to break it up more, rather than the first week.

The microbrewery kit went down well, however OH is in serious pain after his OP and already doing my head in with his moping and moaning. I've inherited my mothers philosophy, if you're ill, you go to your room and get on with it by yourself. Thankfully I never became a nurse!

Joined One poll today and earnt £2.80. I've also set myself a goal of losing a lb a week, so that I'm back to pre-baby weight by my 40th next August. All excited as I've made my shopping list for my first visit to Aldi tomorrow!

bugslet

Ha ha, we both have the same sympathy level!

Enjoy your trip to Aldi - I've found that they are cheaper on some things and not others so I tend to do a bit of a mix and match shop!

Is it possible to switch mortgages at some point to a mortgage with unlimited overpayments? I'm with Ing and they don't have a limit - and when I moved to them there were no fees. That was a couple of years ago so I don't know if that is still available. I like it because it really is very flexible and I can make regular overpayments and if I'm lucky and come across some spare cash, throw some more at it without worry of any penalties or limits.

lvm

Hey Mimi!

Any chance you remember the name of the book you were talking about? About paying the mortgage in 7 years? I've found one about paying your mortgage in 2 years but reckon that's a tad unrealistic for me at the moment...

Good luck for your MFW status!

jemz0001

whats the book about 2 years? its totally unrealastic for me but might get some good ideas from it!

Mimi09

Hi Ivm,
It was called 'Transforming your debt into Wealth' by John Cummuta. Basically it was advocating the roll-over plan. It told you how to work out the order to pay off your debts, adding the money saved to pay off the next one etc until you have a large sum to throw at the mortgage each month. It was the best £20 I spent back then.:)Probably alot of the info is available on here now, but back in '94 it seemed to be a relatively new concept. I reread it a couple of times a year to keep me motivated as its a great little pep talk.

Bugslet - I will change it when the fixed rate finishes in 3 years - quite fancy an off-setting mortgage. I'll have a huge penalty to pay if I change now. Last time I checked it wasn't worth moving it, although I will check again.

lvm

jemz0001 wrote: »

whats the book about 2 years? its totally unrealastic for me but might get some good ideas from it!

Pay Off Your Mortgage in 2 Years

Seems to be based on an old TV programme where they followed 8 couples and advised them on how to clear their mortgages - just through extra money making and cutting back I think - so nothing new!

Reckon once I've met my targets of £2k for holiday savings and £1k for car savings I will look into trying to overpay mortgage as much as I can. My main savings I have just now will pay my mortgage in 6 years but I don't want to use the money for that.

lvm

Mimi09 wrote: »

Hi Ivm,
It was called 'Transforming your debt into Wealth' by John Cummuta.

£81.64 for the audiobook on Amazon!! I'd be better putting that towards the mortgage LOL!

Mimi09

:eek::eek: I had a quick google and found it ranging from $39.99 - $399.99
He's obviously making the most of the current financial climate. I only paid £20 for it way back then.

cazmanian_minx

lvm wrote: »

Pay Off Your Mortgage in 2 Years

Seems to be based on an old TV programme where they followed 8 couples and advised them on how to clear their mortgages - just through extra money making and cutting back I think - so nothing new!

Reckon once I've met my targets of £2k for holiday savings and £1k for car savings I will look into trying to overpay mortgage as much as I can. My main savings I have just now will pay my mortgage in 6 years but I don't want to use the money for that.

That's how this board got started, if I remember correctly - all in the wake of that TV program! One of the couples involved started posting here for a while. Only one lot out of the 8 actually did it, but it was fascinating to follow their progress.

Sepa74

When book prices are that high on Amazon it means the book is out of print. The author won't be benefiting from the prices!