Forever Home Fund

katep23

£8.74 OPd and £45 due in early next week for recycling phone.

Credit card bill for paying in March is lowest in months (since we moved I think!)

Forecast to have £200 left over at next pay day so there might actually be some money to send to savings next month!

katep23

December 2014
Mortgage £346,545.00
Mortgage free date 2044
LTV 86.64%

2nd April 2016
Mortgage £333,930.37
Total paid off capital in last month: £758.93
Total paid off capital £12,664.63
OP 01/04/15 to date: £1,658.76 / £1,800
Total OP to date: £2,035.90
MOS: £10,907.26

LTV: 83.48%

Amount to Mortgage Neutral - £323,023.11

So MOS has increased and ATMN has also decreased so that's good news. Got a big card bill end of this month for work on the car so will need to raid savings but then there's nothing else big in the foreseeable future as car passed its MOT yesterday with no advisories - yay!

shangaijimmy

Kate I know it's all relative but I nearly choked on my morning cup of tea seeing the size of your mortgage! What's your daily interest, and how many years are you hoping to knock off the term?

Petal88

That's the South East for you SJ!

katep23

Ha ha SJ and Petal, we're actually in Wiltshire so south / southwest but have a large house with about a third of an acre.

We didn't want the hassle of moving several times to get to the forever home so jumped straight in with our huge mortgage!

Daily interest would be £40 a day but because we have an offset and have £48K stoozed from credit cards plus £11K savings, our daily interest is £33.

Our first target is to get under £300K and remortgage in January 2020 - the available interest rates then will dictate how much we reduce the term by.

This would mean we have 75% LTV if the value of the house hasn't increased - hopefully it will have done so our LTV may be even better.

My ultimate aim is to be mortgage free by 2032 (when I turn 55) which would knock 12 years off the term (we took the mortgage over 30 years to keep the repayments as low as possible to start with).

But it really does depend on the next mortgage we get. 12 years to clear £300K is ambitious but there are others who have managed it...

katep23

£93 cashback in for laptop purchase which OH bought then reclaimed on expenses. £95 out for speed awareness course. Ho hum.

katep23

£1.50 in yesterday from duck egg sale, resisted urge to get bacon sarnie for breakfast this morning.

Trying to decide if I really need to do an online shop. Almost maxed out credit card and next statement not due until 2nd May! Do need milk and probably dog food, hmmm.

Resisting putting on heating, v chilly here as all windows are at front of house and sun is at back of house.

Got letter from electricity supplier to say they are reducing my DD based on an estimated reading - all their estimations have been very low so need to read the meter but can't find key thingy and OH away for work tonight (£4 something on TCB for hotel stay )

katep23

Electricity estimate is accurate so direct debit reduced by £13.50 per month

Have decided to self insure cats and dogs; we have had a couple of huge vet bills over the last few years but we could cover it if necessary. Will put the money into savings and keep tally. Will keep them all insured until renewal date then let the policies lapse.

Talking of insurance, just got £243 back from one policy so that goes towards the credit card bill. Hoping to only end up taking a small amount from savings to cover the bill (included almost £2,000 of work to car).

OH away tonight and tomorrow night for work - this will be a regular thing potentially for the next 18 months as he is working on a project (he is a consultant and can get sent anywhere to work). Still, £18 TCB tracked via hotels.com and 2 nights closer to a free night stay for us

We've decided to switch our focus to renovations instead of OPs so there probably won't be much to report except the monthly update but we are still OPing by stoozing the credit card money and should be on track to hit 75% LTV by January 2020.

katep23

Upside of OH being away is we have £70 of tracked cashback in a month for hotels, should be worth about £100 a month.

Going to sort him out as additional cardholder on my cashback credit card, it all helps.

Taken £1,800 out of savings to pay credit card, put £900 back in today with more to come later on so hope to nearly break even this month, then will be back to saving next month.

Missing OPing but seeing MOS increase will be worth it.

katep23

Quite spendy but bargainous day today:

£8.50 on reduced plants for hanging baskets, 7 tomato plants, 1 courgette and 6 strawberry plants (and used gift card for £7 of that)
£10 on Vax wet and dry cleaner (will replace !!!! hoover and ailing carpet cleaner)
£8 on 3 boxes of posh cat food which is the only thing our old lady cat will eat (cheapest elsewhere is £10.50)
£40 on pine cabinet for conservatory
£1 on long black cardigan which I had been planning on purchasing

All hanging baskets planted and other plants potted on. I do love being in the garden!