New House, New Mortgage!

jodles16

Weather is being really sucky lately, so much rain!! Plants are all looking healthy, carrot tops are massive, potato stalks look huge, loads of strawberries and raspberries and the pumpkins are growing real pumpkins! Exciting! The fruit trees are all looking good apart from the peach, it keeps getting infected leaves as it is did last year, advice is to just keep pulling off the leaves!

Two of my besties have bought a fab house at auction which we got to go and see, amazing placement, very rural and I cannot wait until they get the keys and we can go inside! Amazingly they have paid cash with help from their parents, but they also had an amazing deposit of over 80k as they have been saving really hard when living at home, in six months they will be allowed to mortgage it (some money laundering rules), they will pay their folks back and have a tiny mortgage compared to us!haha. Our mortgage right now is £931.99 more than their cash paid house!haha. Ah well we have had our own home for over 5years so worth it in our case and living at home worked well for them!

Car is in the garage for a service and brake change today, hoping it wont cost too much moolah!

Jodles

jodles16

Little mortgage info, OPayed £371.60 this month, mortgage at end of play was:

£171,931.99

MuffinTops

Ooh, not far to go before you can drop that 7 for a 6 on your mortgage! How exciting!

Your friend's home sounds lovely. I'm not brave enough to bid at auction so I admire people who are, especially when it works out so well for them. Lovely parents offering to help too!

MTxx

Moneyfordreams

lovely rain, making your garden grow

Will you be under 170k for your re-mortgage?

jodles16

It feels so close yet so far MT! Another three payments though (I think!!) and another mini goal will be achieved!! I know what you mean about auctions, scary stuff, plus I think I would do a heart ruling thing and overpay if I wasn't careful!

Hey MFD, I have already locked into a new rate based on the amount from a few months ago, the new rate starts on August 1st so this is the last month of over £23 a day in interest! So exciting! We will be be in the 170's in August as well which is super exciting, the new rate should see us paying off £500 a month, which is just incredible!

Jodles

A_Frayed_Knot

jodles16 wrote: »

It feels so close yet so far MT! Another three payments though (I think!!) and another mini goal will be achieved!! I know what you mean about auctions, scary stuff, plus I think I would do a heart ruling thing and overpay if I wasn't careful!

Hey MFD, I have already locked into a new rate based on the amount from a few months ago, the new rate starts on August 1st so this is the last month of over £23 a day in interest! So exciting! We will be be in the 170's in August as well which is super exciting, the new rate should see us paying off £500 a month, which is just incredible!

Jodles

House Auctions - not for the faint hearted and me with my high bp too :eek: Jotted down a figure just before auction about to start, and won it for £500 less than the jotted figure BUT - I would have went more

Excellent news, when your new deal kicks in, a feel good factor :j

jodles16

AFK at least your auction has paid off, always a fantastic way to buy if you have the nerves, glad your BP didn't go off the charts!haha.

jodles16

July's Mortgage Stats!

1st July before Payment- £172,661.22

After- £171,417.47

LTV- 88%

Daily Interest- £23.52

Overall Interest- £729.23

OP- £343.56

Capital Paid-£514.52

Hit the 88%LTV mark, woohoo! Also this means will defo see August starting with the 170's!! Yay! :beer:

chumpy45

Hi Jodles,just found your diary and have read all the way through over the last couple of days. You have done fantastically well with your OPs and I have loved all the gardening and plant updates - sounds fab. Looking forward to following the rest of your journey :T

EatingTheElephant

Great stats again

I am actually put off when I see things are going to auction, i may have to brave it one day though!

The rain is certainly proving challenging, hope it's making all your newly planted garden grow well.