Forever Home Fund

katep23

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

2nd March 2017
Mortgage £324,113.55

Total paid off capital in last month: £886.32
Total paid off capital: £22,481.45

MOS: £4,254.05

LTV: 81.03%

Amount to Mortgage Neutral - £319,859.50

katep23

Sooo..

Wedding postponed for a year or so until we can afford it, but...

Talking to OH today we want to try and remortgage on1st February 2018 when we go down to 2% ERP but need to be at 75% LTV; we are currently forecast to be at 79% ish.

Current debt on roof is at £4k (down from £5.6k) but another £7k ish to pay, worst case is £12k. Plus £17K extra to pay off mortgage and £7k ERP - total £36k to save before February 2018.

My car should sell for £7k plus van for £1.5k but we're aiming for £30k saved over 10 months - it'll be a challenge but should technically be possible

Anyone sees me on here talking about what I've been spending slap me on the wrist :cool:

katep23

Spends on the credit card are low for the month, we did go out yesterday to watch the rugby and had lunch at the pub but we rarely go out so I'm happy with that.

Youg0v is at £25.50 so need to make sure I complete all surveys as they come in.

Got a bath listed on Gumtree and FB, need to reduce the price as we just need it gone and anything we get is a bonus.

We've decided to try and sell tickets we have to see OH's fave guitarist - we have seen him three times and he tours regularly but it's on a Thursday in London, train tickets would cost £100, hotel would be from our free nights but it would be spendy as we would want to make a trip of it (London Eye etc).

If we can sell the tickets for face value we should get £150 back so well worth it on top of what we would not spend.

No spend day planned here - may go to a garden centre but got vouchers for that!

katep23

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

4th April 2017
Mortgage £323,517.17

Total paid off capital in last month: £596.38
Total paid off capital: £23,077.83

MOS: £0

LTV: 80.88%

Amount to Mortgage Neutral - £334,887.60 (WIOTW)

katep23

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

3rrd May 2017
Mortgage £322,797.23

Total paid off capital in last month: £719.94
Total paid off capital: £23,797.77

MOS: £0

LTV: 80.70%

Amount to Mortgage Neutral - £331,551.82 (WIOTW)

PrincessLou

Well done - you're so close to 80% LTV now!

katep23

PrincessLou wrote: »

Well done - you're so close to 80% LTV now!

Thank you, should hit it in September!

katep23

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

2nd June 2017
Mortgage £322,107.89

Total paid off capital in last month: £689.34
Total paid off capital: £24,487.11

MOS: £0

LTV: 80.53%

Amount to Mortgage Neutral - £330,265.08 (WIOTW)

katep23

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

4th July 2017
Mortgage £321,487.34

Total paid off capital in last month: £620.55
Total paid off capital: £25,107.66

MOS: £0

LTV: 80.37%

Amount to Mortgage Neutral - £327.936.80 (WIOTW) (-£2,328.28)

katep23

Looking to remortgage ASAP so repaying stooze money, sadly means OPs will decrease for the short term.

Plan is to remortgage knocking 3 years off current term to reduce minimum payments but continue to pay current monthly repayment which would be an OP of £300 per month and would reduce term by another 5 years. This would give us flexibility if either of us lost our jobs.

OH has just changed jobs and is in probation so not sure if we will be successful in remortgaging but nothing ventured...

Current LTV in figures is based on value of house when we bought - the work we have already done (replacement roof) and Zoopla valuations indicates that our LTV should be less than 75%.