Diary Mortgage Free Road To Change My Life

Luckyinlife

Very kind words fire thank you :] I defiantly want to do one in the future i now have all the contacts i need good guys shall we say i defiantly need another line of income for the future as well so will defiantly look into it next year.

Update time

Spent £630 today on tiles for the bathroom total bathroom spend now at £1030 (Budget is 1500) Tiles look really good i needed 19m2 i saved £300 on tiles by using a trade account crazy
heres a pic of them


Also been to see my mortgage adviser at the bank and i should expect a new mortgage offer in a few days basically will save me close to £150 a month once changed packages wooooo.

thewalrussaid

I like the tiles :-)


Thank you for being the first to welcome me to MFW albeit about a month ago - I did my first post and then stayed away for a month, the effort of the first post was enough ;-) But I am back now!

diamondsonly

beautiful tiles LIL xx

Hi Walrus :hello: will go read your diary now xxx

Luckyinlife

thewalrussaid wrote: »

I like the tiles :-)


Thank you for being the first to welcome me to MFW albeit about a month ago - I did my first post and then stayed away for a month, the effort of the first post was enough ;-) But I am back now!

Thank you :]
Thats ok ya we all come and go as life gets in the way at times we will be here for you when you need :]

Luckyinlife

diamondsonly wrote: »

beautiful tiles lil xx

hi walrus :hello: Will go read your diary now xxx

thank you :]

Luckyinlife

Update time REMORTGAGE NEWS

My current deal is 6.2% at £450 a month for 25 years 65k owed

My new deal will be 2.44% at £295 a month for 25 years 67k this inc repaying the old mortgage fee

Saving me a massive £155 a month £1860 a year so over the 2 years fixed term ill saved £3720 minus the fee to pay off the old mortgage im still 1.8k better off over the year year fixed term Amazing

I can also pay 10% a year without any fees which is a big bonus which is around £6700 in the first year which if all goes well i can use the EF to pay this off

Overall the deals is spot on for what i need

Im just waiting for everything to go thro now dunno how long this takes tho but hey something to ease the funds up

Ali-OK

Great news and a fab drop to the interest rate :T

Hope it goes through nice and quick for you

TimmySaver

Those tiles look really great. Well done on remortgaging.
Being able to pay off 10% each year is definitely a good motivator. We paid the full 10% for the first time this year and have nearly saved up for next year's OPs too! Hope your OP go well.

Cream_Tea

Would you be tempted to reduce your mortgage term so you pay about the same as before but that you will be mortgage free earlier? We did when the interest rates went down and we went from 28 years left to 19. Also where do you buy your bathroom bits? We are starting the process and can't wait to actually have a bath albeit a short one.

CT

Luckyinlife

Ali-OK wrote: »

Great news and a fab drop to the interest rate :T

Hope it goes through nice and quick for you

Thank ali :] ya hopefully it goes thro this month sometime :j

TimmySaver Those tiles look really great. Well done on remortgaging.
Being able to pay off 10% each year is definitely a good motivator. We paid the full 10% for the first time this year and have nearly saved up for next year's OPs too! Hope your OP go well.

Thanks Timmy i do really like the tiles as well they should look great once up they feel really nice as well so love that

Ya the 10% is great hopefully i can hit the 10% OP each year for the next 2 years is the target now so hopefully in 2 years time ill have around 50k left or so and own over 50% of the house

Cream Tea Would you be tempted to reduce your mortgage term so you pay about the same as before but that you will be mortgage free earlier? We did when the interest rates went down and we went from 28 years left to 19. Also where do you buy your bathroom bits? We are starting the process and can't wait to actually have a bath albeit a short one.

CT

Morning cream tea
I did think about reducing the term to 20 years but by keeping it at 25 the monthly payments are less so i will feel less under pressure i guess as im self employed with my new mortgage deal my 16k EF is around 3.5 years of mortgage payments which just makes me feel more comfortable. so i dont need such a big EF really
My first OP of 6700 will happen this year which will knock of 3years 3 months hopefully can do the same next year and it will be at 19 years by the time i get onto the svr :]

Bathroom talk

I ordered my suite from a company on ebay great deal around £400 all in for vanity unit sink bath toiler and shower screen

Taps i got from ebay cooke and lewis

tiles i got from topps tiles as my builder has an account there and saved me £300 saved me close to 600-700 inc the kitchen tiles as i have gone a bit higher spec than i originally thought

Good luck with yours hope it all goes well