MFW getting started

MiffyMFW

Time for another £500 cheque to wing it's way to my account.

Another little step closer :j

MiffyMFW

A new year has arrived and I've been playing with spreadsheets all holidays :rotfl:

Looking forward to getting a good year of overpayments under my belt this year. Other half has moved in so with his contributions to the bills/mortgage should be able to make (or dare I say it, exceed) my OP targets.

Looked into an old savings account and had a nice surprise that it has grown to £675 over the course of 7 years. £500 will be used to help pay for the emergency repair to the front of the house and £175 into the overpayment account ready for my next £500 cheque to go in the post in Feb.

New kitchen is (at last) ordered from B&Q 25% off sale (with TCB as well) so much DIY to be happening in late February :j

MiffyMFW

**Rant alert**

So... having finally identified a tasty looking 5 year fixed deal at 2.94% with low fees I was ready to come off my tracker and fix in for the medium term, concentrating on overpaying whilst the rates inevitably rise.

Made appointment with Yorks Build Soc but have had to wait 2 weeks to see them and this morning they phone me and tell me the rate is gone, the day before I am meant to see them. :mad:

Best they can offer is 3.34% now which is a lot less attractive so back to the drawing board. Might hover about on my tracker a little longer.

In good news I have sent first overpayment of the year so that's £500 off the capital, can't wait to get a 7 at the beginning of my balance :rotfl:

MiffyMFW

I stuck with the YBS appointment on Sat and am glad I did. The chap was really helpful working through loads of scenarios and in the end I've gone for a 5 year fix at a shade over 3% with a fee of just £345 incl legals

Bit higher than current tracker but I now have security of payments for next 5 years which will be important if things change and (hopefully in a year or so) there might be a little person to pay for!! Should still be able to afford overpayments and, even better, I can draw back on those OPs if need a payment holiday in the future - never heard of that before.

Always feel so grown up when re-mortgaging

Aaaaand relax for 5 years.... No more nervously waiting for rates to rise

MiffyMFW

I've decided to change my plan of op £500 every 2 months as have found a reg savings account which pays 6% over 12months (less tax). So, will be putting the max of 300 away each month and then op a lump sum next Feb instead..

Seems to make sense to me. Should net £93 interest I think :-)