New House, New Mortgage!

Maybe_its_because

Found you.
Great to read your diary - fab progress!!
Like you we're chasing the fixed period challenge (in Nov 16!) - ours is a £ target rather than a % target like yours.

Good luck and see you on the mfw2015 and NSD threads

MIB x

Xx

jodles16

Thanks for popping by Maybe_its_Because! Always good to have shorter term goals, seems overwhelming otherwise!

Exciting mortgage news is in! This months OP was £410, this has taken us to 93.27% LTV! The current balance is £181, 879.46, May will see us drop into the low 181's and then June will see us in the 180's!! Exciting stuff! Only another £1754.46 to reach 2.5%, half of the goal!! This will take 3-4 months if my maths is correct (not guaranteed!). We will be focusing on paying £310 OP a month and we will be paying off about £170 a month with normal payments which means we should hopefully be paying off £480 a month which should mean we are on target! Reassuring too know, this is what the spreadsheet shows as well so fingers crossed I haven't added up too wrong!

Jodles

jodles16

In non mortgage news feeling very proud of hubby, we got his car on loan almost 3 years ago (any MMM fans don't judge us!!) and he has still got 2 years to go. This car has cost him a lot of money, most recently £320 after the oil sump needed replacing and so did the brakes, it also has a beginning hole in the exhaust...it is only a year older than mine and mine has none of these issues that his has! So, he has bought a fantastic hybrid bike for £200, (on sale from £450, great saving!) and has cycled to work today, 10minute car journey though a lot longer cycling as there is a massive massive hill and he is hoping to sell his car, pay off the loan and then use the money to go towards our savings or mortgage! We will share my car which is super economic and I paid it off years ago (loan borrowed from my Dad, interest free, no early repayment charge and I was living at home so had the money). Have suggested we can always get him a cheap car (ie no loan!) if he finds that he needs one especially in the winter!

Jodles

Jodles

jodles16

Hubby is still doing amazingly with the cycling, he still has to drive work vans as part of his job but cycles when he can, jealous of all the extra food he can eat burning off the extra cals! Will get his car MOT'd soon and then will hopefully sell it with enough to pay off the loan and have a little spare.

I have finally worked out how to fill in the blummin mileage form at work, I was beginning to feel very dim! My manager who is lovely actually completed my Feb lot for me and am expecting £90 in the next few days, have now completed two extra mileage forms but need more receipts as my car is very eco so asking round for an extra one...will hopefully get this sorted asap and then will have more money coming in!

Have decided I am not going to pay extra into the mortgage at the moment, will stick with the £320 OP from both our wages and I am going to save some money myself possibly for a little flat as a BTL or something else I'm not sure of yet! One of our friends have recently got divorced, big shocker as they seemed so happy, they are splitting the house and I said to hubby that I hope he would be courteous of the extra I have paid off and he said nope, he would want it split! He feels that I shouldn't be paying more off than him but I do earn a little more so that's how I have come to this decision. BTW we have no plans to split, I quite like the chap and hope to keep him round for many more years!

Jodles

jodles16

Been paid two days early, nevermind! Have done my shop today and have moved my monies all around which is my favourite bit! Joint account is looking healthy with a mix of house, holiday and my savings!

Coming up to my birthday so using £500 of saved monies to cover spends as we are off to Brighton then off the Whipsnade zoo to spend the night in a lodge! Exciting! Away Mon to Fri and will be paying for the dogs kennels as well so that should be enough dosh!

Jodles

jodles16

Almost time to check what % we are at! Exciting! As this is the first month I haven't made an adhoc payment I have been able to work out the daily interest this month. Today our mortgage stands at £182,600.37 which is £720.91 of interest accrued since the 1st April, divided by the 30 days that works out as £24.03 a day, urgh. Hoping I can keep checking this and monitoring to see it decrease! Our spreadsheet is saying we should have paid way over £750 in interest so not sure why there is a discrepancy, ah well prefer N@twests!

Jodles

PS Perhaps I have found another thing to celebrate, wonder if next month we will be paying £23-- interest instead of £24.03?!

jodles16

My favourite bit! May's mortgage stats!

Current Balance: £181,381.40
LTV: 93.01% (gutted!!)
Paid off this month: £498 in total, £310 OP and £188 from normal payment.

This all indicates that we are on track for the 5% goal for July 2016 which is exciting!

Jodles

jodles16

Well I am now in my 28th year and had a nice few days away to celebrate, super happy to be home with the dogs though! Off to borrow my Dads strimmer in a bit so hubby can try and wrangle the grass into submission at least in the back garden, not sure what we will do with the field... Waiting to hear from a landscaper as need the field and garden to have drainage put in and to have it flattened as it is so uneven, pretty sure a mower couldn't do most of it due to the undulations!

A lovely, bright and breezy day down here so will plant some more hawthorn hedging while hubby strims I think!

Jodles

Luckyinlife

Happy 28th jodles im 28 later this year as well :] should i smile lol
Amazing work on the OP

I myself love the LTV ratio side of things i cant really work it out tho till iv finished the work on the house and get a few valuations in im hoping to be over the 35-40% LTV :]

jodles16

Thanks LIL! And happy birthday to you when yours comes up! Feels nice to still be sort of young and doing more on your mortgage than anyone else I know at my age. knowing I will be laughing when I have no mortgage way before them!

Wows that is an amazing LTV!! We are doing bits and pieces in the house, its all in good condition just needs a bit of love and lots of landscaping! Hoping it may mean a higher LTV next year but not holding my breath!

Was pay day the other day, have managed some good savings with fuel costs back and things so thats looking very nice at the moment! Still toying with the idea of a little BTL in the future, so that's in my mind with my savings. Both my parents have some property (seperately as they are not together!) and it seems like a good prospect, my dad has it ran through a company and my mum manages it herself, both prefer it there own way but my mum has had property for about 10years if not more so she will be my go to for advice!

Have started to paint the old hay storage after hubby cleared it out the other day, its a lovely space and big enough for plenty of seating. Painted the inside a lovely fresh rosemary colour, just need to do the outside, maybe I will today, think it wont rain until tomorrow! Feels good to be trying to beautify the outdoors, this is the weakest part of the house as its just under an acre and basically a field that holds water and undulates! Focusing on the fenced in 'back garden' at the moment, just trimming the 'field' as the dogs love running through the crazy grass and we have loads of fantastic wildlife and wild plants out there so it doesnt look too bad!

Jodles