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Hope is not an Effective Financial Strategy

edited 3 March 2020 at 8:18PM in Mortgage-Free Wannabe
4.1K replies 339.7K views
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Replies

  • kirtsypooskirtsypoos Forumite
    3.8K Posts
    Ninth Anniversary 1,000 Posts Combo Breaker Cashback Cashier
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    Hi SJ,

    I left FU when I left my previous house and it took me over 9 weeks to get my money back, then they ended up refunding me twice by cheque (as they cancelled the direct debit so couldn't refund direct to my bank), and even though one was never cashed (as I obviously didn't cash the second cheque) I had some vile phone calls from FU claiming I'd 'stolen money'
    They ended up giving me £15.00 compensation but I was just happy not to deal with them again!

    Hope you have a better experience!
    :j PAID VERY, Barclaycard x3, Vanquis, Natwest, O/D, Tesco & MBNA x2 PAID :j LBM 24/07/15 - Original Debt: £0/31010.23 (100% paid) :eek:
    Mortgage - £151.316.54 :eek:
  • shangaijimmyshangaijimmy Forumite
    3.7K Posts
    Part of the Furniture 1,000 Posts Name Dropper
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    Good knowledge kirstypoos. Forewarned and all that... Ali it's stories like this that tempt me to stay with FU but just switch tariff, but then I miss our on cash back...:eek::mad:
    MFW: Was: £136,000.......Now: £68,202.78......
    Mortgage Neutral Deficit: £54,331.22... Mortgage Neutral Savings: £13,871.45
    MFiT-T5 #8 - £17,522 of £23,100 (75.85%)
    1% Mortgage Challenge - £411.69 of £705
  • shangaijimmyshangaijimmy Forumite
    3.7K Posts
    Part of the Furniture 1,000 Posts Name Dropper
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    Part of me has been thinking to get money out before I switch as well.
    MFW: Was: £136,000.......Now: £68,202.78......
    Mortgage Neutral Deficit: £54,331.22... Mortgage Neutral Savings: £13,871.45
    MFiT-T5 #8 - £17,522 of £23,100 (75.85%)
    1% Mortgage Challenge - £411.69 of £705
  • Ali-OKAli-OK Forumite
    4.1K Posts
    Part of the Furniture Debt-free and Proud!
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    Exactly why I stayed an extra year but changed tarriff...they were a nightmare for first 6 months...no online account management (even though online managment only tarriff :mad:), took 7 months to sort, but been easy since then.

    Leaving..well they've ignored me up until last week (must be their retention strategy ;)), so after Kirsty's experience, I'm bracing myself for a bumpy exit :)
    Back on the DFW Wagon:

    CC - £3,300 on 0% til 04/2020
    CC - £4,500 on 0% til 02/2019
    Loan - £12,063.84 as at 4/1/18
  • A_Frayed_KnotA_Frayed_Knot Forumite
    3.2K Posts
    Sixth Anniversary 1,000 Posts Name Dropper Photogenic
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    Not got round to comparisons yet, but may well get it done before sleep time.

    Another successful month is done with a fresh one starting tomorrow. Whilst on a dog walk earlier i was weighing up the chances of being MF by 45 and it does seem a possibility if I can find an extra 10k from somewhere! I'm hoping compound effects of interest may account for 50% if I can get some favourable mortgage deals along the way.

    Thankfully only 1 birthday in June and that's my own so doesn't count!


    Love seeing the comparisons, about to post some myself in the next week or so.

    As for being mortgage free at 45 - go for it :j

    Hope you have a nice birthday, I've already got birthday cards/presents for tomorrow and Friday, then 1 on the 17th.
    Always have 00.00 at the end of your mortgage and one day it will all be 0's :dance:
    MF[STRIKE] March 2030[/STRIKE] Yes that does say 2030 :eek: Mortgage Free 21.12.18 _party_
    Now a Part Timer from 27.10.19
  • shangaijimmyshangaijimmy Forumite
    3.7K Posts
    Part of the Furniture 1,000 Posts Name Dropper
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    £11.52 op this morning from my TSB interest (2 accounts, not full though). Then 26p TT'd to tidy my account. We're down to £39 but Mrs SJ gets paid on Friday thankfully.

    Frayed - I'm yet to post my comparisons, but am adamant they'll be done tomorrow. Natural history museum visit today before work at 4pm.

    As for FU I got a swift email response with the usual "payments based on 12month estimations...". They have told me to post meter readings on 21st which is 11 months in and they'll have another look. So as with Kirsty and Ali it rumbles on. It's a poorly governed industry isn't it. I'm going to try and amend my payment online instead and have a month payment break...
    MFW: Was: £136,000.......Now: £68,202.78......
    Mortgage Neutral Deficit: £54,331.22... Mortgage Neutral Savings: £13,871.45
    MFiT-T5 #8 - £17,522 of £23,100 (75.85%)
    1% Mortgage Challenge - £411.69 of £705
  • debtfreeonedaydebtfreeoneday Forumite
    4K Posts
    Part of the Furniture 1,000 Posts Name Dropper PPI Party Pooper
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    When I did a power comparison recently, the company that gave me so much grief last year was cheapest, but I just can't face returning to them again and going through that hassle. I feel for you, and it's also why i don't want to leave current supplier as they are so good
    DFW (08/08) £64,346.53 Gone for good (02/19)
    MFW (01/15) £59,986.52
  • choccieloverchoccielover Forumite
    412 Posts
    Part of the Furniture 100 Posts Combo Breaker
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    Gawd help me I moved to FU recently.....I think I'm 4 months in and all good so far but will prepare myself for the challenge of leaving in 7 months or so.

    Also I think I gave you to thank for my foray into the world of eBay...I thought I would give it a go and have listed our car seats. Not sure if I've done it right, wrong or upside down but as long as I get rid of them from cluttering up my hallway (we have 3 of the damn things..) then I guess any money we make is a bonus. Will hope I make more than £3.50 ;) especially as the blummin things cost me about £800...
  • shangaijimmyshangaijimmy Forumite
    3.7K Posts
    Part of the Furniture 1,000 Posts Name Dropper
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    I've had a mini eBay surge, with 10 small items sold in last 10 days. Don't get disheartened if they dont sell just keep relisting. I sold a t shirt last week that imust have listed 30 times previously.

    Mrs SJ has finally done the deed and sorted her clothes. So there's 1 large charity bag to drop off and 1 load of stuff for eBay!
    MFW: Was: £136,000.......Now: £68,202.78......
    Mortgage Neutral Deficit: £54,331.22... Mortgage Neutral Savings: £13,871.45
    MFiT-T5 #8 - £17,522 of £23,100 (75.85%)
    1% Mortgage Challenge - £411.69 of £705
  • debtfreeonedaydebtfreeoneday Forumite
    4K Posts
    Part of the Furniture 1,000 Posts Name Dropper PPI Party Pooper
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    I do the same with fleabay, just keep hitting relist! they do sell in the end..
    DFW (08/08) £64,346.53 Gone for good (02/19)
    MFW (01/15) £59,986.52
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