Finally a MFW! :D

KolaKube

I see your avocado green bathroom suite, and I raise you additional floor to ceiling patterned green tiles and a huge homemade mdf sink surround cupboard... the kids were accurate with their scorn lol

EchoDelta

Cheeky blighters though!

Different bank to you but when I paid small op it just reduced the next month's direct debit. Turned out that I needed to call up each time and say it was a capital repayment and if I wanted the term reduced then it had to be at least the amount of capital that the following month's direct debit would have paid (sorry that isn't explained very well but I can't seem to make it make sense!)

Give them a call when you have a moment just to check.

KolaKube

Right I've found the relevant paragraph I think...

'If you overpay by less than £500, your monthly payment will be reduced at the end of your fixed rate period. Your interest is calculated daily, so your overpayment will still reduce your balance immediately and you'll start to be charged less interest, but your monthly payment won't reflect this straight away.'

So thats fine. I'm still going to call them to check about the term reduction thing though xx

BlueMoo

Yes, it is incredibly difficult sometimes to find the information you need.

I am currently trying to set up my mortgage as a Payee so I can make electronic transfers, but nnothing will tell me whether the name is my name, or is the bank's name.

Very
infuriating!

KolaKube

Lol. I just phoned them!

Very helpful chap. Explained that small OPs reduce the balance straight away, so you end up paying less interest and still 'reducing the term' overall even though you dont get a letter out every time with a new date on. If you do formally reduce the term with each OP you can't extend it again if you ever need to make underpayments, so your monthly payment would go up to compensate.

So, little OPs it is! Yay! xx

KolaKube

He also upgraded my account to 5% interest on balances up to £2.5k, and free OD for a year - had to sacrifice the free travel insurance for this, but we rarely travel, and the interest and lack of OD fees is worth more annually so I'm happy with that.

Also, LO got some interest on his wee ISA today, his first ever! xx

BlueMoo

Great! Sounds like you have got it all sorted.

Yay for interest for LO! Hopefully one day, LO will come across this forum and realise all the sacrifices and hardwork you have made.

KolaKube

A NSD today. Lo and I stayed at home all day. OHs car is still in for repairs (gulp, its been 2 weeks, I'm dreading the bill!) and he needed to take mine to work.

OH got a free lunch today at work. LO and I had leftovers so that was nice and easy!

Got the painting completely finished in the utility room :j Its starting to look really well. Need to get OH to fit the worktop this weekend and I'll make a start on the doors. Feels so nice to have a room starting to look a bit more modern!

Washing, mopping and general cleaning all done for the weekend

I've decided that on NSDs I will celebrate by OPing an extra fiver. Will never miss it as if I had been out I would have easily spent that on coffees etc. So that plus an account tidy = £6.06 transferred over to the mortgage :T

Need to do a meal plan now for the next few weeks - I can definitely feel the will to cook slipping away, the past few days I've cooked something for LO at lunch with enough leftovers to do him a few meals... I've had easy things like sandwiches and OH has had his hot meal at work. Doesnt help that OH had decided hes on a health kick and wants to cook separately in the evenings ... not convinced that'll last but I can aim for a healthier meal plan which would benefit all of us :T

xx

SmlSave

OH had decided hes on a health kick and wants to cook separately in the evenings ... not convinced that'll last but I can aim for a healthier meal plan which would benefit all of us :T

Can you convince your OH to make double his healthy meals so you can enjoy them the next day? If he wants to cook, I'd let him as long as possible!

EchoDelta

Love your £5 for nsd thinking!