Thistlewhistle makes a dash for Mortgage Freedom!

Thistlewhistle

Postie has just delivered some vouchers from Boots. Money off and % discounts on stuff I use so happy days!

Cheers Boots!!

Thistlewhistle

Mmmm, and a letter from NatWest telling me my ISA interest rate is dropping from 2% to 1.75%
Not bothered too much as I use this account for saving towards my tax bill each year.
All other money is going off the mortgage so ISA fund can stay where it is.
T

Matt_The_Chippy

Thistlewhistle wrote: »

Mmmm, and a letter from NatWest telling me my ISA interest rate is dropping from 2% to 1.75%
Not bothered too much as I use this account for saving towards my tax bill each year.
All other money is going off the mortgage so ISA fund can stay where it is.
T

An idea for you. Would it be of use to you, to have an Offset mortgage in the future? My thinking, instead of using a saving account to hold your tax money, you could store it in there for the year end. I'm VAT registered and am now starting to be a bit more organised. I want to put my VAT money in the offset and draw it back each quarter. I would gain about £500 a quarter and of course the interest is paid each month.

Thistlewhistle

Hi Matt
That's a great idea, and I looked into it a while back. Unfortunately, I can't switch mortgages at the moment as I'm in neg eq and they won't touch me. NatWest badgered me to quote on my mortgage, I told them there was no point, they insisted, I let them, then they told me what I'd told them in a really patronising way!!! Lol.

Once I get set off on my MFW journey properly, when I get to the tipping point, it's on my list of things to look into.

Thanks for the idea though

elantan

i just got the same boots thing, i am sitting here trying to figure out how to take advantage of it ... £12 worth of makeup i can do easy peasy, £30 worth of stuff and an extra 300 points well that one shouldnt be too hard either as i need to stock up my shampoo/shower gel etc, but would i be better using a cheaper shop to buy them from, i am trying to figure out if it is worth me buying from boots or would i be cheaper going elsewhere

Thistlewhistle

Perhaps we should consider voucher swapping. Every time I buy stuff in Boots I get a voucher for No7. There's a limit to how much foundation a bloke can carry off!!:rotfl::rotfl:

Thistlewhistle

Thistlewhistle wrote: »

Got an issue to put by you all, but too tired to contemplate penning it now.

Xxx

Here's the big issue I'm contemplating - I think I've made a decision but I'd like to hear your views.

The friend who moved with me when I bought this house (I've known him for years) has fallen on hard times. He's succumbed to a debilitating bout of depression for which he's seeking CBT, but basically he's being ousted from his job (teacher). The school are largely responsible for his position. Don't want to go into the legals of that particularly - he's being well advised elsewhere.

He came to me a few weeks ago in total bits. Worry making him ill etc etc. it's likely that he'll now have to sell his house as he can't afford the mortgage. I said that there was always a place for him to live at mine as I have a spare bedroom (2 bedroom terrace) in essence he could have his room back. I've cleared it with OH who was totally supportive of me.

My initial instinct was just to let jim stay FOC. He doesn't need the extra money issues and it's seriously no skin off my nose. It won't invade mine and OH privacy as if we want to be on our own, we can just go to OH's house.
Now I've had time to think about it though, (I'm still all for him staying because he's a friend who needs my help), but I've realised that my council tax will go back up to full rate (lose single occupancy =£260) and my fuel bills will rise as he'll be at home all day most likely.

Am I being petty? Should I ask for a contribution?
He needs the help but I want to be mortgage free!!

What do you all think - I'd value your thoughts/suggestions.

Thistle x

QB_Wolf

Hi TW well as a starting point you can't leave yourself out of pocket, so I'm sure your friend will want to cover increases in CT and Fuel Bills. If it was me I'd also be expecting a small amount on top to cover other hidden costs and maybe a small contribution to the mortgage, you can pitch it at a level where everyone benefits, and there's no chance of anyone being resentful.

Tilly_MFW_in_6_YRS

Morning Thistle, very difficult decision for you to make.

My dad's advice on a similar topic about 20 years ago - I have the memory of an elephant sorry - "it's not starting it that's the problem, it's stopping it".

Do you have a way to end the agreement without causing the friendship to implode, or your friend's mental health to deteriorate?

As QB points out, you don't want to be worse off financially so CT, heating etc. Will he get housing benefit, if so then he could pay rent and this would help him to realise he is still capable of keeping a roof over his head, albeit yours.

A difficult situation but a lucky guy having such a good friend

Best wishes Tilly

Thistlewhistle

Thanks QB, that's a good point.
I'm sure if I broached it, he'd be fine about it. I just don't want to add to his woes. He's had to face some terrible demons not least the loss of a career he loves and is really good at. As a teacher, he's brilliantly committed to the kids in his care. It's the beaurocracy and power driven individuals that have caused his depression. He can't cope anymore.
It's a crying shame because if you met him, you'd love him straight away. He's so amiable.
But soft people just get trampled on in the rush don't they? I know that from my experiences. Fortunately now, being self employed, I'm out of all that!
My friend is thinking of retraining to be a plumber/gas engineer and start his own business. If I can help him along the way, I'll do all I can to make it happen for him.
But as you say, I do have mine and OH's future to be aware of.