Lilmissmups - Shrinking the first mortgage I have ever had!

lilmissmup

So I have decided to jump ship from DFW to MFW!

Background to my MFW journey beginning.

Moved in with OH last February and have just joined the mortgage with him and my names on now on the deeds for the house too!

I have never had a mortgage before and don't intend to have one for the next 20 years!

We are looking to sell the house in the next couple of years, its a 3 bedroom house and OH already has 2 children and we are looking to have a baby together and therefore need to buy a bigger house or a house we can extend on.

OH built an extension on this house but its not possible to build on top of it plus its the house him and his wife lived in and I want a house of our own! :cool:

The mortgage on this house currently stands at £111,534 and I am hoping to reduce it down to at least £100k before we move so we can use as much profit as possible to go towards another house!

I will be ringing the Woolwich tomorrow to get a account number so we can make an overpayment of £2k ASAP.

I need to get OH on board more though, we have a current account which all our bills go out off and he has agreed that once it has £2000 in it we can pay off £1k to the mortgage *as he wants back up cash*.

The extra cash in the account is pretty much all his as he pays £1400 into it each month and I only pay £580!

It currently stands at £2.2k so taking £1k from that and £1k from my savings to use for the overpayment.

There is more information I could post as we don't own the house 50%/50% as he has children and has lived here a lot longer so if we do sell its going to be a pain in the butt to work out how much more equity I will have!

But I do trust him and hes given me a 35% share already and I dont really deserve that yet as only made 17 mortgage payments since living here!

My debt is at 0% so don't need to worry about that for a while, next 0% deal runs out in April so can spend a while concentrating on the mortgage!

yukkibear

Hey dawn, good to see you over here. You're sounding very organised, good luck with your first overpayment. Be warned it's very addictive

lilmissmup

Today is the day I ring to get the account details!

I have been a nightmare and kept forgetting last couple of days!

But off to work shortly and will ring when I get a minutes peace.

Bit naughty last night as went out with OH and spent £40 in TGI Fridays for a meal for us but it was our last night alone for 5 days as we have kids for next 5 so I wanted to spend some quality time with him.

We did just have 2 weeks together with them being on holiday but I still like the most of any alone time we have!

Especially if it might be much more of a crowded house soon!

Will update tonight with some more budget details!

kitjos

Congrats on making the step to being MF! :T

Glad you've finally phoned up mortgage people for your account number. It will/should be on any of the paperwork you recieved from your mortgage provider. Are you going to make direct debit OP or see if you can phone up and pay little and often?

All the best! x

lilmissmup

I got the sort code and account number today :j

So I have transferred £1k from my savings to my current account and am waiting on OH to come home from collecting his kids so I can get the £1k from him too and then will make a payment tonight! :beer:

Ended up buying 2 euromillions tickets today as colleague asked me to get him one at the shop, he gave me a £2 coin and I got £2 coin in my change too and I save them all in my Sealed Pot so thats £4 in today.

Been using it for 26 months now and not taken any back out, once thats full although probably be another year or so that might go on Mortgage too.

Hopefully I will win the lottery tonight too

lilmissmup

Wooohooo overpayment of £2k made!

Not bad for the first one

Now to ensure OH doesn't spend a lot on the current account so we can make another overpayment soon

First mortgage payment hasn't even gone out yet, so after thats gone it will have been reduced by £2857.67.

gallygirl

lilmissmup wrote: »

Hopefully I will win the lottery tonight too

UK winner - was it you :j.

lilmissmup

gallygirl wrote: »

UK winner - was it you :j.

No was gutted :rotfl:

I didn't get one number on my 2 lines and we won nothing on the £20 work put on too!

I am also having a bad day as missed a daily earning goal on SB so lost my chance of getting 300 extra points at the end of the month now! Bah!

I am sure drinks tonight with one of my best friends who I haven't seen for a few months will make it much better

Oh and Tom Daley being on the telly a lot helps too

lilmissmup

Well its Sunday evening, the weekends where I work 1/2 a day on Saturday always go so quickly!

Not a very frugal weekends, spent £34 in Boot on make up and hair dyes and spent £11 in Sainsburys last night on some alcohol and crisps, £20 on a dress in New Look and £14 on lunch today for me and friend as she brought me a drink and some food last night when we went into town and I slept over hers as its £15 to get a taxi back to mine!

I dyed my hair yesterday but its quite patchy so going to use the other bottle I got on Wednesday and have friend redo it for me.

I had been paying between £80-£100 to get it done every 2-3 months for last few years but I have had a bit of a LBM plus been trying to grow it for my friends wedding that I am bridesmaid at in September so not had it done since May.

Friend said she can try trim it for me too but might just pay the £20 to get it done a cheaper salon.

After the wedding I think I am going to have to go and have it done again though as my hair is nearly shoulder length now and I normally have it in a sort of bob and I dislike it being this long and still have 7 weeks to go before the wedding.

lilmissmup

So anyway after all that spending I have £30 to last me until payday....:eek:

Which is 12 days away so thats £2.50 a day.

I have a lot of costly spends coming up in next few months.

Hen do (hotel paid for but rest still to pay for)
Hotel on the day of the wedding which was nearly £90
Payment for my 2nd year of college course £757
More dental appointments (est cost £200 I go to a private dentist as have gum issues my other NSH dentist didn't care about)
Car insurance est cost £400-500.

Hoping to get lots of vouchers to help with christmas, I know I am getting £120 worth of Nectar points in the next month for a Nectar survey project I did but I am trying to go for cash on Swagbucks to help with some of the above costs....:cool:

lilmissmup

Overpayment has gone onto the account :beer:

Balance now stands at £109,874

Normal payment goes out on the 16th so will ring Friday for a new balance, it should be £109k then

No extra money making done today, just a day at work! 11 days until payday.

Next month is going to be very tight for money though, I remembered today I need to also pay for my car to be serviced soon, it should have been done in May really but I have been putting it off.

Its nearly at 100,000 miles though so I want to get it done. I work at a car dealer anyway so shouldn't cost me too much.

One of my cats needs her booster jabs in October too.....the list gets ever longer!!!