MFW starting young.

Sdav

Well today has been a good day for dav not paid anything off the mortgage that wil come on the 27th/28th it's been a good day because.
I've now worked out how to add natwest mortgage as a payee so I can make overpayments from my phone app, so that is exciting for me to be able to OP spare money without leaving the comfort of my front room ,
Second reason my boss is going to help me through my weight loss journey I'll post more about this journey as I go along my way, so as the day is drawing to a close I feel very happy and positive.

Thanks for reading guys.

Kind regards
Dav.

BookWorm

Sdav wrote: »

Hi guys a little help from you kind people, does anyone know the cheapest place to buy these Sony MDR-AS51G ( http://www.t3.com/features/best-headphones-for-running ) I've found them at £30 but just wanted to see if anyone knew any sites that would have them cheaper? Or anyway to get cash back or anything like that?

Cheers dav

Am@zon have them for £26.99 HERE

Sdav

BookWorm wrote: »

Am@zon have them for £26.99 HERE

Thank you very much

Sdav

Sorry for my absence to the people who participated in my thread. i'm back on here for some more motivation things have been moving but just wanted to come back and check out how everyone is doing, so a little re-cap.

our mortgage now stands at £97'900 still fixed at 6.89% but heres the thing, i can now buy out of my current deal for £979. and go down to a 3.89% mortgage and my monthly payment would come down from £689 to £467 saving me £222 a month and over the 11 month term I've got left equates to £2442! so thats me booked my appointment to go and buy out of my current deal.

and my overpayments have been around £400-£500 a month so far at £689 so I've been paying a good sum extra each month. so my thinking is to keep paying £689 because I'm now used to it and also add £400 to that making my overpayments will be at £622 a month

things are starting to look a lot better and the mortgage will be dropping faster and faster.

Thanks Dav.

Sdav

while i'm waiting for friday to change the mortgage rate, i went ahead and made another OP of £150. every little helps right.

SuperSecretSquirrel

Hi Sdav, great diary

I've just plugged your figures into the MSE overpayment calculator (£98,879 current debt - assumes ERC added to mortgage, 26 years remaining, £467 standard monthly payment, £622 recurring monthly overpayment), the results were astounding! Overpaying will save you £32,557 in interest, and you'll pay the mortgage off 17 years and 5 months earlier Mortgage free in under 9 years as opposed to 26 years without overpaying, that's amazing Make that a £722 monthly OP (I noticed you went with the conservative £400 from your £400-£500 average so far) and it's £33,989 saved and paid off 18 years and 3 months earlier!

One thing I did notice was the calculator reckoned a rate of around 3.2% using those figures, but you specify 3.89%, might be worth a quick double-check? Probably down to me using slightly wrong figures though, and the calculator only allowing years left on term not years and months...

Owning what sounds like a very nice good sized future proof house lock stock and barrel by the time you and your OH hit your early 30's, that's pretty amazing. Well done on starting the journey, and good luck for the future

gallygirl

Seconded - you are doing great and setting yourself up for life :T

And on behalf of everyone on here, to save us all saying it individually, how We wish we'd been as sensible at your age!

newgirly

Spot on Gallygirl :rotfl:

Sdav

SuperSecretSquirrel wrote: »

Hi Sdav, great diary

I've just plugged your figures into the MSE overpayment calculator (£98,879 current debt - assumes ERC added to mortgage, 26 years remaining, £467 standard monthly payment, £622 recurring monthly overpayment), the results were astounding! Overpaying will save you £32,557 in interest, and you'll pay the mortgage off 17 years and 5 months earlier Mortgage free in under 9 years as opposed to 26 years without overpaying, that's amazing Make that a £722 monthly OP (I noticed you went with the conservative £400 from your £400-£500 average so far) and it's £33,989 saved and paid off 18 years and 3 months earlier!

One thing I did notice was the calculator reckoned a rate of around 3.2% using those figures, but you specify 3.89%, might be worth a quick double-check? Probably down to me using slightly wrong figures though, and the calculator only allowing years left on term not years and months...

Owning what sounds like a very nice good sized future proof house lock stock and barrel by the time you and your OH hit your early 30's, that's pretty amazing. Well done on starting the journey, and good luck for the future

Thanks for the comment , my figures where a few pounds over the £97'900 i just put 97k to round it down make me feel better haha, and my mortgage stands at 25 years 10months remaining so maybe thats where the slight percentages are out , but now you've brought it to my attention i will look at it to make 100% sure. so thank you for that.

also like to thank you for the kind words. sometimes its hard to see the end to it all but when you can come on here and read all the comments and other peoples progression it makes everything more clear. And show you there is a end to the battle and you can win.

gallygirl wrote: »

Seconded - you are doing great and setting yourself up for life :T

And on behalf of everyone on here, to save us all saying it individually, how We wish we'd been as sensible at your age!

thank you Gallygirl, the comments mean a lot.

newgirly wrote: »

Spot on Gallygirl :rotfl:

Thank you all for your words of encouragement.

CathT

Great news getting out of that mortgage deal, what a difference it's made to your overpayments. Well done!