Mortgage Free in Three Yrs

TallGirl

Taka don't be too hard on yourself no one can see into the future. I personally don't think it will mean a cut from most banks as they are feeling the pinch and will want to charge as much as possible. However hopefully it will be easier for people to get mortgage now.

Just wanted to say thanks to DD for updating the list I am sure there were more people on it but hopefully they will PM us again.

Been totally lazy today not done any work (I do work from home) other than deliver some chocolates and a card to a client. Really can't be asked to do anything. Just as well I am not on performance related pay.

Trying_to_be_good

Whilst I'm pleased with the rate cut because my tracker rate should go down, I feel for you, Taka, and those who have savings rather than debts. I don't think it makes much difference in the long run, and at least you have the peace of mind of being able to budget than the rollercoaster I live on. FWIW everyone said I was mad to go for a tracker in July and recommended fixed rates, so you aren't alone.

Boiler update - quote from British Gas person >£4,000. Quote from non-BG person <£2,500. Still not cheap, but guess who's getting the work...

taka

TTBG ... Hmmmm I wonder... :rotfl:

I know a fixed rate is good for planning but I do this every time :rolleyes: :rotfl: Why did I not take out the tracker that could be converted into a fixed rate... just didn't have the courage :rolleyes: Oh well its still better than the variable rate I had been on by a long stretch

Desperate_Housewife_2-2

If I think of anything else, I'll post [/quote]
=======================================================

oooh, just thought of something else...obvious to the 'extreme' moneysavers out there but sort out gas/electric/phone providers (quidco of course) I read my meter at the 1st of every month and record it on a chart on the wall next to the meter (sad I know!) but it enables me to not get under estimated and end up owing them money, and also I can calculate my yearly/monthly usage of gas/electric as I find the company's methods of calculating it is way off.

I found out by accident the other day that the poor old meter reading men only gets 30p per house call if he captures your reading so I have made a point of letting him read it now and if I'm not in then pop the readings on a card for him...who knows? he may be mortgage pigging the 30ps!!!

catshark88

Well done on your amazing saving, well done you!

People's successes on this board are really inspriring and keep us going. Someone on another board put me on to a calculator that showed that for every ad hoc payment of £1 that I make, £3 was saved over the lifetime of the mortgage. I had no idea we could get so frugal in this house!:rotfl:

1274

Hi. I know I'm late to the party but can I join in (DD can I have a number?)

Mortgage 1/4/07 was 160000
Mortgage now 125000
Mortgage goal for 1/4/10 is 50000

BTW overpayments were from bonuses. Just changed jobs and new one doesn't have a bonus scheme. New job pay is half of old job pay (but really hated old job) so once I've spent my savings of 40000 making a lump sum payment overpayments will drop to 00s not 000s!

My rate is 5.99%

Ta

setmefree2

Hi

DH
Thx for all that info - I'm with you on the Holidays (can't give up summer hol) but find it hard to use the libary instead of buying (amazon:o). Sometimes it takes me ages to get round to reading something I've bought (but I always get there in the end). Makes me feel guilty though - always give used books to Oxfam so I know I've done my bit on that front! Well done.

SAZZA
Well Done:j:j:j:j:j:j:T:T:T

CATSHARK
I seen that stat on every £ saves you £3 on your mortgage too. It's inspiring...

1274

1274 wrote: »

Hi. I know I'm late to the party but can I join in (DD can I have a number?)

Mortgage 1/4/07 was 160000
Mortgage now 125000
Mortgage goal for 1/4/10 is 50000

BTW overpayments were from bonuses. Just changed jobs and new one doesn't have a bonus scheme. New job pay is half of old job pay (but really hated old job) so once I've spent my savings of 40000 making a lump sum payment overpayments will drop to 00s not 000s!

My rate is 5.99%

Ta

PS I have PM'd DD too

esthomizzy

taka wrote: »

TTBG ... Hmmmm I wonder... :rotfl:

I know a fixed rate is good for planning but I do this every time :rolleyes: :rotfl: Why did I not take out the tracker that could be converted into a fixed rate... just didn't have the courage :rolleyes: Oh well its still better than the variable rate I had been on by a long stretch

Thing is so you could have converted to a fix rate from a tracker but that would have probably involved extra expense and you would have probably not done so until the change not knowing for sure which way it would go. If rates had risen instead you'd then be fixing at a higher rate. I'm also in a 5 year fix but my budget is so tight I'm still happy (also because it rose 2 times after I'd fixed too and it's only gone down once I think).

angelavdavis

Kaz2904 wrote: »

Going back to the house prices thing- the way I view it is that I would have to pay the same as my minimum mortgage payment to rent somewhere.
The houses available are not in very good locations and I would always be answerable to someone else.
So even if I 'lost money' on the house, I won't have done because I would have been paying out that money anyway.
The fact that we are overpaying just means that we won't be 'renting' the house from the principality for 18 years. Hopefully we'll only have to 'rent' it for 7.5 years and then pay no more!
The equity is neither here nor there as far as we're concerned because we don't need anywhere bigger (yet?)!

We were lucky to get where we did when we did and if this had happened 6 years ago it may well have been a different story. We were in deep then and couldn't have afforded huge interest rate rises.
If the rates weren't low then we would never have been able to afford to buy so would have been stuck renting- probably forever.

I think its a case of thinking of a half full glass - rather than a half empty one! You sound like a positive person to me so your glass is half full, whereas some of the MFi3 sceptics...........