New House, New Mortgage!

jodles16

Hey Cream Tea, £312 does sound a lot more manageable! Im hoping it will be less than that as well once the interest has kept decreasing by pennies a month!heehee.

Thanks for popping by MuffinTops! Thank you for your lovely words! It really is addictive...I find working bits and bobs out helps with the motivation as does the short term goals! Cant think about it long term too much as it feels overwhelming!heehee.

Have been on the mortgage today though it hasnt changed since the 29th and as interest is added daily this is confusing! Dont understand N@west at times, my workings out often don quite equal theres! Anyways I imagine there will be extra interest added tomorrow so will check it then, then on the 2nd its time for the latest stats! Exciting!!

Jodles

debtfreeoneday

Hello - popping in to say hello and read your story.. You are doing fantastic with the OP-ing.

My bank is confusing as well. I get the weekend's interest all added after the weekend, so here we are at Wednesday and this morning, they will finally have updated it after the weekend!

Thanks for the tip re monthly interest - will do that in future now as it makes more sense!

jodles16

Nice to see you DFOD! I cant work out this months interest as OP a few days early and this has messed it all up, or I'm not bright enough!heehee.

We have been living in this house for a whole year! All the sale went through on the first but gave the lady till the 2nd to move out and then we moved in! Can't believe how quick the year has gone and feel we have achieved lots with the mortgage in this time!

As I made the extra OP it has messed up all my workings out, no extra interest was added after the £388 was OPayed but it must have been added as the normal payment and OP minus the balance today is missing around a £100 so this must have been extra interest I didn't see! Find this is one area I struggle with with N@west, my calculations don't equal what I end up seeing, but maths isn't my strong point!

So the stats I can give!

Current Mortgage Balance after payment- £179,055.57
LTV- 91.82%

Urgh if I would have realised how close to the 178's I would have scrambled money together to add it! Ah well, that's a new milestone for next month and am so pleased how much closer we are to our goal now! Also we have dropped into the 91%s! Only another 1.82% til target!

So my earlier post about what the mortgage would be without OP in one year is now correct as its actually been 12months!

Without OPs= £183,251
With OPs= £179,055.57
Difference= £4,195.43 Phwoar!!!

Jodles

jodles16

Had a statement through from N@west for the year, in total we have paid £14,169.25 to them in a year, £9120.19 of which was interest!!! That works out as £24.99 a day overall. This makes me equally sad but happy, sad that so much money has gone never to be seen again, and its a lotta lotta dough! But happy that if we hadnt overpayed the interest would have been higher and we wouldnt be close to the extra 5% which will hopefully equal a better deal therefore less interest next year!

When I see this I cant imagine ever feeling ok not OPaying, feels like a huge amount of hard earned money lining the banks pockets instead of mine!!

Jodles

MuffinTops

Well done Jodles, you really have done well, and kept some of your hard earned money for your benefit and not for the bank! You should feel so proud of yourself.

Isn't it lovely how quickly you can feel that OPing is a necessity. The amount you save overall is amazing! A friend of mine is about to get a mortgage so I've been trying to put this forward to him, although he's not on board with it just yet.

I'm loving the difference in totals than if you hadn't OP'd. That's great to keep a record of it.

MTx

jodles16

Thanks for your kind words MuffinTops! Im quite sad and really like to see any/all stats I can! Helps with the short term goals! I have a friend who I have shown this website to and she seemed pretty keen, feels good to share this wisdom with similar minds! Good luck with your friend!

Am enjoying my Wednesday off work, makes it so much better than doing all 5days! Hubby is working loads at the moment and I think he is quite sad that he has to work all hours that work throws at him and he cant drop a day (he really doesn't think they would go for it and overall he really loves his job but he has a lot of at the moment).

Been playing with the mortgage offers page today, pleased to see that if bank rates stay the same and we reach our target, we could have our monthly payment in the 700s instead of 900s! That would be sooooo good!

Off to do some pottering now, disappointed with the weather today, was so warm yesterday and today is all grey and dull! Ah well at least I wont burn!!

Jodles

jodles16

Have been watching the BBC program Break in Britain the Crackdown and it has made me realise how complacent we are here...Must have been about 6years ago or so that I got back to my parents house and found the back door completely smashed, I rang my Dad and asked him if he had done it, I just couldn't get my head round it! He obviously said no and as I turned around I realised the TV etc was gone! Had been so weirded out I hadn't even noticed! Was an awful experience and the Police took so long to get there that my Dad had got back from his work 45mins away before they even turned up, then BF now hubby found them lost on our hill trying to find the house!! Anyway long story short I do get very scared of it happening again especially if the dogs got out as we are near a busy road!

Watching the TV show has inspired me to try and make the house safer and less desirable to burglers!! We are going to put the prickly fence toppers on the fences, look at replacing the locks with more robust ones including the front door and get an alarm system in place including the PIR one in the front room as the dogs don't have access in tat room and it is very vulnerable, the PIR I want will take a picture when activated and send it to a smartphone to show what triggered it and you can remotely deactivate it if its a false alarm! Also want the Yale Smartphone set up as it has door sensors etc which are good in a pet household! Will be pricing all this up and seeing what we can do ourselves!

Sorry for the serious post!

Jodles

jodles16

My favourite time!! It would seem the payment has actually already gone in today which is unusual but appreciated!!

October before Payment- £179,716.14

After- £178,472.39

LTV- %

Daily Interest- £22.02

Overall Interest- £660.57

OP- £310

Capital Paid- £583.18

I assume that this huge change in interest is because of our capital payment last month which took almost a £1000 off, still seems to cheap...will wait and see what next month says! Hope its right though as this would mean we are so much closer to the April target with the drop in daily interest! N@west has stopped showing the specific LTV and just says 92% so I will try and figure out the specifics but I am not great with working things out so we will see how it goes!!


Milestones reached: Into the 178's!! Daily interest is apparently in the £22s!! Interest for the month was less than £700!

Jodles :money::D

jodles16

Ohh its just over a month till I go to Vegas! Starting to get very excited! Have got a packing list organised and have already started to decide what to take! Going to take the dogs into the kennels one more time before we go either this weekend or next if they have space, they used the wrong room last time and my big girl was very very stressed so am going to make sure that they don't mess up this time!

Trying to decide what to do with monies when we go away, hate having to look after money and think I am too late for the credit card recommended...might try anyway!

Jodles

Luckyinlife

Ohh into the 178ks well done :]

LTV is hard one isnt it like the bank said i was at 79% LTV but they never even came round to vaule it so its more like 60-65% really

All down to the value the person looking at it puts on it

175k wont be far away now at this rate :]

How long you in vagas for ?