And Baby Makes Three....

FunLovinCriminal

Morning Bexster
Wife is at college retraining to do Childcare in a nursery, so is not earning at the moment. Roll on August when she starts earning again!
I am still working in a supermarket, and with two young children times are tough.
I still dream of mortgage free by 50, hows your plans coming along?

A_Frayed_Knot

Morning, have been following your diary from almost the start, (missing out bits that I myself was awol ).

You will smash this, I know sometimes it's a slog to say the least, I do think if affordable then o/p - if not too late. I done this but then maybe did not make any big (to me) o/p's till my savings fund was back up again. Called it robbing Peter to pay Paul :cool:

Told myself that the more I pay early on the easier it will get later on. Try not to think too much about the complete picture and focus on the "now" meaning my noughty knots - example -

Mortgage balance £72530.95 so to me that means (depending on funds) I either clear the 95p, £30.95 or depending on savings level (do my Peter / Paul thing) and pay the £530.95

I also looked at the interest they added on every month, and when it got to an acceptable (!) I mean affordable level, then I o/pd that straight away, so my d/d mortgage payment came straight off my mortgage balance.

Just some things to chew over. Won't work for everyone, but working for me a treat :j Let us know.

FunLovinCriminal

Cheers Frayedknot
I do not come on here often, I am at work, looking after our kids or doing surveys/GPT sites to earn a little extra.
I wish I had more time to read and keep my own blog up to date, but I do not.
At the moment all my GPT money is going in to a savings account, hopefully when OH gets some work, I have this to use as a OP - if she doesn't find work, it gives us a little more cash to live on.
FLC

bexster1975

Hey FLC

Can OH do anything part time whilst on her course? Either related to course or not. August will roll around. This is a particularly bad time of year. Also consider, once OH is earning again you can redouble your efforts and get those three years off.

I'm doing ok thanks. With mortgage gone I am managing to do more than pay the bills for now self employed so can't complain.

Post when you can, FLC. We will keep cheering you on

Bexster

FunLovinCriminal

Well its been a while....
Stil living off oh redundancy.
Its rapidly disappearing.
We are on a 5yr fixed mortgage till feb 2021. If we "renegotiated" due to not affording repayments, i assume we would have to pay the early termination charge?

A_Frayed_Knot

Renegotiation - may not have the early termination fee, they are there to help, could be they just reduce payments for "a while" until things improve for you.

They always say to let them know, there must be things they can do without incurring any extra charges in an hour of need. Hopefully like waiver any extra charges to help.

Let us know how you get on.

ps - can you take a "holiday" from payments - or did you overpay, so they could take that into account for a bit of a breathing space.