Quarter of the way there and full speed ahead

taxi73

Have I missed something here RE the remortgage? thought it was taking you out of debt and just giving you one cheaper payment..you know what I'm like for getting mixed up..lol

elantan

No your right taxi that's what we have done, we now have two mortgages one at 4.69% and one at 3.29% but I found the other month it was easier if I totted up how much I owe at the start of the month and divide it by how many months I have left ... That way I know how much I need to pay to stay on target, I have managed to overpay the amount every month which had brought things cheaper .... The difference before was I still had to find the money but I also had to find alot more interest money on top, now Taft I just have two bills I just have two lots of smaller interest to find, previously I was 6.3% every month for the car and 19.9% for one visa ... Plus the other two visas were running close to their end of 0% term so would've had to have paid the interest on that as well


Or am I explaining something totally different ?

Lol

elantan

Previously I had the mortgage at 4.69% as well

Knowing me I havn't explained myself right ... Sorry

elantan

Well that's nearly my first night shift done for the week, I have 45 hours overtime this month which is the right number for me, that is of course so far, I may have shifts changed at the last minute


, still waiting for the Halifax money to hit my account once it does I will make a wee payment to the second mortgage, was going to leave it till the 20th after reading the idea on the mfw board but I will have £16 to pay off so I think it will be worth my while paying it off before the 20th

gallygirl

elantan wrote: »

, still waiting for the Halifax money to hit my account once it does I will make a wee payment to the second mortgage, was going to leave it till the 20th after reading the idea on the mfw board but I will have £16 to pay off so I think it will be worth my while paying it off before the 20th

Oh no, what [STRIKE]scam[/STRIKE] cunning plan have I missed now?

elantan

It was the conversation on the pay £1 a day thread, depending in who your mortgage is with can depend on when is the best time to make overpayments ... I'm with the n@tionwide so it makes sense for me to overpay on or as close to as possible the day that my monthly payment comes out

elantan

Can I just ask ... Has anyone got their £5 from Halifax yet ?

Tilly_MFW_in_6_YRS

elantan wrote: »

Can I just ask ... Has anyone got their £5 from Halifax yet ?

Neither of us have received it yet (Mr&Mrs T)

elantan

Cheers Tilly it's just I had a payment of £5 showing but I think that was a visa payment transfer , it was showing as dated the 1st and I know I didn't transfer it on the first so thought maybe it was the £5 and I didn't notice

taxi73

Think I understand it now
you just have the two mortgages and NOT the debt/loans but pay the mortgage as though it is the same amount as the loan/debt payments would've been