Mortgage freedom..Shala_moo's attempt at a diary..

shala_moo

:wave: Thanks for popping in atypicalblonde, apologies that I hadn't noticed your post earlier!!

I've been away from the boards somewhat, due to time pressures.. work is getting worse and it's definitely renewed my focus to get the mortgage paid off. We have lost 3 team members in the last few weeks and we're not allowed replacements so we have to pick up the slack.. end of...

OH has kindly suggested that maybe we should start looking at moving to somewhere smaller so we could pay off the mortgage completely and I wouldn't have to work at all!! now whilst this a far flung fantasy of mine, the reality, I know, is completely different and I love my house, I don't want to move just yet!

Anyway the exciting news on the mortgage front is that we received our yearly mortgage statement yesterday

• our monthly payment has reduced by £31.31 - this will be OP'd going forward to keep our pymt the same
• we saved £458 in interest over the year from offsetting - aiming to get this to >£1000 this year (£80 odd a month)
• Total overpayment for 2016 was £5068
• according to my spreadsheet if we keep payments the same it'll knock another 3 months off the term :T
• according to zoopla the house is now worth £55k more than it was when we bought it! :j

We OP'd quite a bit this month as my overtime payments were ridiculous - half bought the new TV and the other half I op'd :T so Jan figures will look like this.

Jan Monthly figures
Outstanding Mortgage = £125,845.18
Mortgage Offset % = 24.97%
Approx. Monthly interest saved and OP'd £25.69
Mortgage Neutral Date = May 2027

Total Debt as present moment £94,419.36 (-1,815.11) :T:T

Aims next month are to get the actual mortgage under £125k and the offset over 25%.

I have another ridiculous overtime payment coming through next month so I may split it so we can reach these goals and use half for another OP and half for the new bathroom tiles..

Right i'm off to catch up on the boards and to go read the rest of your diary ATB you've done brilliantly so hopefully I can pick up some tips!

xx

beanielou

You are doing SO well :j :j

Boo to work though.

Pushkin

Sorry to read that your work situation has not improved, sounds like it is actually getting worse. So common these days - I do sometimes despair of the society we have created and the values & culture that companies hold dear.

Hope things improve.

shala_moo

Thanks Beanie and Pushkin for popping by...

Srry to hear about your situation Pushkin, I've just caught up on your diary. I'll post there too..

Unfortunately I can see my particular work issues getting worse, can't say too much obviously but there'll probably be more staff leaving.

The most we can all do is have a plan in place to deal with a worst case scenario..

My current plan is to look at the ridiculous amount of overtime as a positive thing, it'll pay the mortgage off quicker, so I can leave quicker!! :T Although it's not great health wise

Anyway, to get this show on the road more OP's have been made

• £14.65 rounded down current and savings accounts
• work paid us wrong, so an extra £62 was put into my account - no one quite understands the email that went out about it so we're all not sure what was wrong :rotfl: i'm not complaining and have just OP'd it

Have a good week x

shala_moo

Ooopss it's been a while.. hope everyone's got through the storm intact. Worst thing here was a few fence panels have gone, so weekend job is to fit some more - i'll leave that to OH to deal with and the new neighbours! It's one way to get to know our new neighbours isn't it!

Everything moneywise is just plodding along, i'm on track to get the mortgage under £125k for this month so that goal's met :T and our daily interest will be under £11 :T so that goal's met too!

Haven't really spent much money since the tv! We still haven't got round to looking for bathroom tiles, but have decided to get a smaller bath and new sink too so the bathroom "refresh" will be costing a bit more than anticipated. :eek:

Off to make OH his tea xx

shala_moo

Feb Monthly figures
Outstanding Mortgage = £124,896.91
Mortgage Offset % = 26.05%
Approx. Monthly interest saved and OP'd £28.31
Mortgage Neutral Date = Mar 2027

Total Debt as present moment £92,356.91(-2,062.45)

Mortgage now under £125k :T and offset is over 25% of the mortgage :T

There have been a few "taps on the shoulders" going on at work so once again we're all not sure how long we'll be there for. It's very sad when you lose people you've been working with for years and demoralising at the same time

However, OH has had some brilliant news today - he's been promoted to manager and had a glowing review at work dead proud. This comes with a bit of a pay rise so new calculations show we could live on one wage now for a while if needed.

xx

beanielou

Great news on your figures & OH's promotion.
Not so good on your uncertainty at work though

shala_moo

Thanks for stopping by Beanie x

Today was a bad day at work, everything got on top of me and i had a panic attack which knocked me about a bit. But, its our busy week so just had to get over it and carry on working.

OH is really angry when i tell him about what happens every day and has told me if the mass redundancies come round again that i have to take it! i know he's right but it's a scarey prospect of leaving a secure job after 11 years.

I think this weekend will be spent calculating some figures to see how much we actually need to live on. Luckily we're not extravagant people so it'll just be necessities that make the list!

At least with no job i'll have time to catch up properly with everyone's diaries

Xx

beanielou

Your health is the most important thing.
Everything else is secondary.
Take care xx

in_need_of_direction

That's so true. I finished up yesterday and while I'm still petrified, there's a major element of relief.