And Baby Makes Three....

FunLovinCriminal

Well its been a while folks!
Mortgage down to 85k!!!

Our current deal with Virgin runs out March 31 next year. It's 2.59% 3yr fixed.
OH is currently on maternity leave, and she is the main breadwinner in the family. Our savings will manage to subsidise the £1000 pay difference between her salary and the maternity pay she is currently on. She goes back to work in September 2017.
So, what to do and where to do it?
Virgin say I can find a deal from 1st December, and that's today!!!. With work and two young kids I have little free time.
Do I need a mortgage advisor? How would that help?
Obviously, pay slips will show my wife's salary being a lot less than it will be.
All help would be appreciated.

choccielover

You may need a letter from your wife's employer proving her normal salary but other than that you will be fine.

I'd look yourself, ask your current provider their best rates then look on some comparison sites.

Chocs

FunLovinCriminal

God its been ages since my last post.
Life is hectic
Had a wonderful christmas, busy, but wonderful.
£84k left on mortgage, and I have been informed that I have less than 120 days on my current rate
Quite fancy a 5yr fixed at 2.18% - would mean £20 extra month, but would shave 3yrs off the term.
Hows everyone else doing?

FunLovinCriminal

Hi all
Been a while......
Update then. We remortgaged with Virgin. 2.18% for 5yrs with no fees involved. This enabled us to know 4yrs off our MF date.
Projection date is being 51.5 ywars old and MF. The dream is to be free by 50 though.
All spare cash is being used covering OH maternity leave at the moment.
Mortgage us sat at £84k.
Both children are doing great, and I need a sleep!!
FLC

bexster1975

Hey FLC

Glad to hear all is going well. Excellent news about kids and new mortgage

Bexster

FunLovinCriminal

I am truly rubbish at this blogging thing. Rubbish.
So an update.
When I started this blog my OH was pregnant, our daughter will be 3 next week.
WHERE DID THAT TIME GO?
Son will be 1 next month.
I FEEL OLD.
Mortgage is now £83000.
I work 36 hours a week and swagbuck when I am not at work.
Currently any money I make is subsidising the maternity pay prior to my OH going back to work. Thats if there is a job for her - restructuring is due, so not sure what she is going back to.
Other than that, everything is going ok.
FLC

FunLovinCriminal

Ok clever boys an girls
I need some help.
We are at a turning point in our dream....
Mortgage: £81,000
We want it paid in 8 years MAX, hopefully quicker.
My OH who is currently on Mat Leave may be returning to work to be told that she is being made redundant as part of company wide streamlining.
We currently pay £722 per month mortgage, at 2.18%
My maths though, is awful.
I think I worked out, 2.18% of £81,000 as £1765.80 and that works out as £147.15 in interest every month?
Is that right?
If so, I am amazed (at my maths) and disgusted at the amount I am paying!

dark^knight

Yes, that seems correct...to get the monthly interest:

(81000 * (2.18/100)) / 12

Hope that helps

FunLovinCriminal

Thanks Dark Knight, that's quite scary.
a) the amount of interest
b) my maths - I feel I should contact my old school!

Now, I am currently using swagbucks and some survey sites - and they generate approx £150 extra cash each month, thats now going to the redundancy/mortgage fund.

Thanks all

FunLovinCriminal

So. A long overdue update.
Mortgage is below £80,000
FINALLY.
We will find out about if we will be affected by redundancy in 14 weeks time.
So, we are scrimping and saving as much as we can.
I kind of regret tying us up to a 5yr fixed mortgage last year, but hindsight is a wonderful thing.
How us everyone else doing.