New House, New Mortgage!

jodles16

Signed up for the 13mile midnight walk to raise money for hospices, downloaded an app to track my walks so I can figure out distance, one of our routes called 'the verges' as both sides of the quiet road are verges... is just over 1.5miles. Not very far comparatively! Off on another of our walks today which we call the horse walk, as you guessed it there are horses (edited to add its 2.97miles...not very far really!!)! Will be interested to know how far that one is!

Have been online and seen this months interest and worked out all the basics from this, so this is where I think we stand (will check against the amount once payment has gone in):

Feb Mortgage Stats

1st February before Payment- £177,607.01

After- £176,363.26

LTV- 90.44%

Daily Interest- £24.21

Overall Interest- £750.55

OP- £310

Capital Paid-£493.20

Sooooo...our daily interest is back in the £24's...was in the £23's...no idea whats going on with that can only presume that I worked it out wrong but its frustrating to have paid so much extra off and it hasnt touched that daily amount, cant wait to remortgage!!!!

Positives: Next month we will hit the 175's!! Our LTV is only .44% away from goal!

Jodles

stewby

Hi jodles.

Am sitting here having read your diary wondering if we are the same person.
:rotfl:

I am also a nurse, currently trying to overpay my mortgage... and am getting ready to redecorate a room with a travel theme. We already have bits and pieces for the actual room but we have looked at a wallpaper map and will put "pins" or dots to indicate where we have been.


It is amazing to watch you overpay your mortgage whilst still having a life (going on holiday and having pets, etc). Quite an inspiration so thank you very much for sharing your story.

jodles16

Thank you for your kind words Stewby! Always nice to know Im not boring everyone!heehee. Ohh Travel must be in the air at the moment, we went to TKMaxx and got some cool pretend atlas books which are actually empty to store items and a small globe! Might be worth a look if you have one nearby. Have been on pinterest and have seen those fab ones you can pin, amazing idea! Will wander off to see if I can find you!

Jodles

jodles16

We had a big clear out in the spare room and bedroom, got four bags to send to the charity shop and another of rubbish, I'm sure there will be more to clear but this was brutal enough for now! Have done a bit of re-arranging in the spare room as well, has made the room look a lot bigger.

Have got some new stuff for the lounge as well, feel a bit embarassed saying it on here as I am meant to be saving again but have spent! Oops! Will make the room look complete though!!

Cant believe its monday again tomorrow! Shocking how this happens every week!

Had our second archery session yesterday, only a tiny bruise this time but my arm was aching and the tips of my fingers are tender from pulling the bow! Such as lot to learn!

Jodles

jodles16

Just checked and all payments are correct, officially over paid another £310 OP this month, feeling very bitter about how much interest is a month but glad we are doing something about it! Would be nice to be oblivious in some ways!!

Jodles

MuffinTops

I used to feel that I wish I was more oblivious. Although I reminded myself that being oblivious meant I had so many money problems I didn't know where to start! Thank goodness for this lovely community in the DFD section.

MTxx

PrincessLou

jodles16 wrote: »

Just checked and all payments are correct, officially over paid another £310 OP this month, feeling very bitter about how much interest is a month but glad we are doing something about it! Would be nice to be oblivious in some ways!!

Jodles

Do you notice the interest ever going down? We have overpaid for just over a year but the interest never seems to go down...not sure if I'm missing something?

jodles16

Hi Princesslou! I thought a couple of times it had gone into the 23's! So no idea what I calculated wrong there! Confusing stuff! Maths is not my strong suit either!

Jodles

jodles16

MT you are so right! Oblivious does not mean in control or managing! I often pop over to the DF side, lovely folks with fab diaries like yourself, inspirational stuff! Will keep keeping on!

Grey rainy day here, feeling very tired and not sure why. Need another cuppa before I decide what I may do with this day, might not be much at all I think!

Jodles

jodles16

So after some discussions with the hubby, we agreed we would each OP an extra 1k from our own funds (we want the OPs to be equal just in case he gets fed up of me!). We were going to hold off until we re-mortgage, possibly with N@west in April or after July with someone else, then I realised how silly that is given we are on 4.99% now and when we re-mortgage it will be a lower rate so paying it now would make a much bigger interest saving! Sooooooo....

I have just sent an extra £1k to the mortgage!! Hubby will do his after this months pay day then he will build up his savings, I already have some and will continue to build on these!

Going to share the impact on the next post as it deserves it own!