A MF day begins at midnight

midnight_child

Evening folks,

Now that I had a chance to play with the spreadsheet I can report another 2p reduction in daily interest.



I am so close to the 80's it is practically within Rubik's cube throwing distance


MC

Dobbibill

midnight_child wrote: »

I am so close to the 80's it is practically within Rubik's cube throwing distance

All this reference to the 80's - padded shoulders, Simon Le Bon and now rubik's cubes I sense there's a theme here :rotfl: you'll be dancing around in bright coloured leg-warmers next (as a celebration of course)

BookWorm

midnight_child wrote: »

I am so close to the 80's it is practically within Rubik's cube throwing distance

:T well done.. it will be here before you know it

Dobbibill wrote: »

All this reference to the 80's - padded shoulders, Simon Le Bon and now rubik's cubes I sense there's a theme here :rotfl: you'll be dancing around in bright coloured leg-warmers next (as a celebration of course)

Love this image :rotfl:

midnight_child

Dobbibill wrote: »

All this reference to the 80's - padded shoulders, Simon Le Bon and now rubik's cubes I sense there's a theme here :rotfl: you'll be dancing around in bright coloured leg-warmers next (as a celebration of course)

Not sure about that, but I think I have just found the perfect way to enter the 80's in style............... http://www.ateamvanjustforhire.co.uk/


MC

midnight_child

Welcome to the weekend!


Update on the carpets was that the fitters did a great job. Didn't hang around and had it done in an hour and a half. I am well chuffed with the final result, and may spend all of tomorrow sniffing them .


MC

Thistlewhistle

Hi Midnight,:hello:

I have just read your diary from start to finish and it has so inspired me, I am going to start another diary later on this evening. You've done amazingly well and I've picked up a few tips along the way.

Some of the things you've posted have had me in stitches:rotfl::rotfl::rotfl::rotfl:and it's quite clear that our senses of humour came out of the same jar!!

I have subscribed to your diary in the hope that there is more jollity to come!:dance::rotfl::dance:

Thistle;)

midnight_child

Hello Thistle:whistle: (secretly wishing I had my own smilie!!)


Glad you're enjoying the diary. It is very worthwhile to know that some of my ramblings have proved useful to others. Will be sneaking over to your diary in the near future, to check up on your progress.


Hopefully can keep you entertained here a little while longer, I still got 90K to shift :eek:


MC

catriona79

Hey MC,

So, while I was non-MSEing, you've been paying down your mortgage and now you're nearing the 80s. Well done, what a brilliant job!

So tel me, tell me, is your mortgage a fix or a tracker? Are you going to get a fix?

I am looking to find out what you and other sensible MSErs are doing about this conundrum.

I have a mortgage of £110,400 (this includes a homeowner loan) on a house I've owned sone mid-2011. Both the initial mortgage and the loan are on a variable interest rate. The mortgage has been through two 2-year fixes, and moved onto variable in late April, thus saving me about £45/month.
The homeowner loan is over 8 years only and has always been on variable.

I am looking to remortgage, as my current rate with hsbc is 2.49%, and my LTV is 60%, and so I could reduce that well below what I'm paying now, if I moved providers. But I'm not sure whether I shouldn't just fix for 5 years and be done with it. I think Tesco fixed mortgages allow 20% o/p anyway, and I don't see myself overpaying that much.

So, what's your enlightened opinion?

Wait another 6 months before a fix, or not fix at all? Or maybe fix immediately?

I have to say, I love our money dilemmas. Don't think any of my friends are bothered about stuff like that as they sit in bed on a Saturday morning...

midnight_child

Hi Catriona,


My current rate is fixed for another 18 months. Prior to this I was on a 2 year discounted tracker rate (as it was fee free and best I could get with 90%LTV).


There is no right or wrong answer to the type of mortgage you choose, as it really depends on your individual situation. Some people want a long fix to insure against payments increasing, others want one that has lowest rate now, or allows unlimited overpayments. Also a factor would be if you plan on moving in the next 2-3 years. The right answer might be one that offers least stress or piece of mind, rather than being £25 per month.
I don't wish to offer financial advice as i'm not qualified/registered to do so, and am just a random guy still sat in bed on a Saturday morning


What I will say though is in terms of the interest rates.......
No one knows what will happen to them and anyone who says they do is lying. For about the past 3 years we keep hearing that they will go up in 6 months time, but then another thing happens to push this back (Greece, general election, Oil prices crashing, etc, etc). I currently think they wont rise more than 1% over the next 3-4 years, but I have absolutely no evidence to base this on other than my gut feeling. My hunch is that the first small rise will cause general public to crap themselves, and rein in on the spending that runs our economy as they start to consider paying down their debts. This would mean rates have to rise much more slowly - a sort of reduction in methadone rather than going cold turkey.


The only thing that is almost certain is that when the rates do eventually change they will go up not down :rotfl:



The best way to protect against the affects of this is to pay off/down any debts.

MC

catriona79

midnight_child wrote: »

Hi Catriona,


My current rate is fixed for another 18 months. Prior to this I was on a 2 year discounted tracker rate (as it was fee free and best I could get with 90%LTV).


There is no right or wrong answer to the type of mortgage you choose, as it really depends on your individual situation. Some people want a long fix to insure against payments increasing, others want one that has lowest rate now, or allows unlimited overpayments. Also a factor would be if you plan on moving in the next 2-3 years. The right answer might be one that offers least stress or piece of mind, rather than being £25 per month.
I don't wish to offer financial advice as i'm not qualified/registered to do so, and am just a random guy still sat in bed on a Saturday morning


What I will say though is in terms of the interest rates.......
No one knows what will happen to them and anyone who says they do is lying. For about the past 3 years we keep hearing that they will go up in 6 months time, but then another thing happens to push this back (Greece, general election, Oil prices crashing, etc, etc). I currently think they wont rise more than 1% over the next 3-4 years, but I have absolutely no evidence to base this on other than my gut feeling. My hunch is that the first small rise will cause general public to crap themselves, and rein in on the spending that runs our economy as they start to consider paying down their debts. This would mean rates have to rise much more slowly - a sort of reduction in methadone rather than going cold turkey.


The only thing that is almost certain is that when the rates do eventually change they will go up not down :rotfl:



The best way to protect against the affects of this is to pay off/down any debts.

MC

Hey,

Thanks for your response, another 18 months of a fix, are you going to be able to bring in down into the next LTV ratio bracket?
And what spreadsheet do you use to calculate your daily interest - so interesting!

I understand. And didn't expect financial advice, was just after a few opinions. Very valid point re trying to fit it around your life - I need a crystal ball in my case, as I'd like to stop being single, but haven't met anyone special just yet.

Time to get on now! Have a lovely Saturday