The 300k debt-free diary!!!

Gemmzie

Looking forward to having you pandapaws They are a lot of fun. I've made around £2k from the two!

pandapaws

Ta! I'm on a mission this year to milk every free penny out of the internet that I possibly can! Who says there's no such thing as a free lunch? We've just had a free bargain bucket!!!

Natlou_2

Did I hear someone say free bargain bucket? - Best not tell DH, its been 3 days since we had KFC! :rotfl:
Jut one thing I was thinking about earlier was whether you had considered going interest only for a couple of years when you move and put all the spare towards your debt - say your mortgage was £500 per month cheaper, then that would be an extra £12k over 2 years to chuck at the debt? We generally re-mortgage every 2 years and only tie ourselves in for that period, then if our lender can't offer us a better deal, we move - might be worth thinking about
Anyway take care
Natlou x

pandapaws

Brilliant minds think alike!

We spoke to our mortgage man today and mentioned that to him. Got an appointment to see him on Monday afternoon to try and sort everything out. It would save us £550 a month, for a max of 3 years - we put that in the snowball earlier and that would knock over a year off our total, not to mention the extra we'll hopefully be able to pay by having lower outgoings on petrol and storage.

We weren't sure at first, but it does seem to make sense - can't see any reason not to really!

lunar

Hi panda, im really looking forward to the olympic challenge starting too, i just really want to get stuck in with it as its paying off my barclay card and i really want rid of that, the interest is so high.

sounds like a good idea goin interest only for a while, especially if you will get rid of a year till your DFD.

when will you be updating those totals again you seem to be really commited and pay off loads every month.

pandapaws

Good luck to you too Lunar! We get paid on the 16th, and all our DDs/SOs come out then, so I get to update it an another 10days! I really do want to pay off as much as possible, but to be honest, so far we haven't really done anything much except the monthlypayments that we make anyway - but thankfully no more debt so not doing too badly! Should be able to over pay a good bit when we move.

We've had a load of viewers today, including 3 second viewings. Got 2 potential offerers tomorrow, although you never know. All a bit bizarre considering we've had nothing for so long!

hypno06

hi PP, if only all those viewers had turned up 3 months ago!! Oh well, at least you have an offer on the table now, even if nothing else transpires tomorrow!

Re the mortgage, we are interest only and treating it as a debt in the same way as everything else, so as we have APRs on credit cards as high as 26.9% :mad: it makes little or no sense to pay off the mortgage capital when that is only 4.75%.

I put the whole lot in the snowball calculator and so I have two snowballs, one just for the non mortgage debt, and one to include the mortgage. I was worried that I am not paying off the mortgage capital, and that I might suddenly wake up in 20 years time and think "bloody hell, I've got to find £175k today" but looking at it in snowball format put my mind to rest and made me realise that I won't even have a mortgage in 20 years time if all goes according to snowball plan!

lunar

good luck with the offers tomorrow, its sounding really positive now

savingmore

just come on to your thread and Congratuations on the offer, sounds like you need to be open to more....can you not accept an offer for 249,995 and a certain amount of fixtures and fittings? I think you can do that for a certain amount, up to 10,000??? worth a thought and if your agents are good, they should be able to advise,

hypno06

did you get any more offers on the house, PP?