Building the burrow, one shovel at a time.

My_Lovely_Carrot

Well, April's op made and new balance including normal monthly payment is £146,005.82. Hope to make larger OP's once kitchen is finished. Have just finished ceramic tiling through ground floor and wallpapered the kitchen/diner. Now awaiting delivery of range cooker and stone worktops. This is the big job for this year.


It does mess with my head slightly, big OP's or work to house. I suppose it is a balance between priorities.


Off to update op's on MFit - t4 and 2016 MFW.

My_Lovely_Carrot

Hello, Have made OP this month of £1568.70, so an extra £500 into the mortgage this month.


The kitchen is now taking shape and the range cooker has arrived, (looks stunning) although it is sat in the middle of the room till OH returns from working abroad. The range built in France, has turned up 2 weeks later than planned and the worktops/tiling had to be rebooked for end of June. Which is really annoying. :mad:


Our Sky box broke last week and I called them and they tried to charge me for a visit (£65), and sell me insurance but as I had changed my contract to make it cheaper and I was on my 31st day of the cooling off period, I told them to shove it. :money:


Needless to say, I'm now getting it fixed for free or a new box, plus got Sky Go free for 2 months, so I could still watch shows on the laptop. Sometimes businesses need reminding who pays for their products.:p


Will have to wait for balance letter from BS for mortgage but it is roughly about £143805.57, but interest is charged daily. So is a little confusing as I paid £1068.70 on 11/5 and £500 today.


Lovely here today, sent kids to school in summer dress for DD and polo's for the boys, now need to have some breakfast and tidy before the little monsters come home.

My_Lovely_Carrot

Jodles16, sorry I missed your post in Feb. Thanks for dropping in.


My daughter used to watch a children's cartoon about a little girl who with her friends went on adventures through a cupboard and her comfort toy was a rabbit, who she called my lovely carrot. Sort of like the name. .

My_Lovely_Carrot

Hi, Hope someone can help me out with this....


I made an overpayment on 11 May of £1068.70, the balance had been £146005.82 on the 14 April, which includes daily interest up to end of April).


I received a BS letter showing a new balance of £144305.57, this includes my normal payment of £931.30 made on the 01 May. (balance includes interest till end of the month and is calculated daily).


I then made an additional payment of £500, on the 13 May and this morning received the BS letter with a balance of £143827.52. (Again, interest as above).


Now, I now it's a daily rate of interest, but working between the two balances it makes a difference of £478.05 off the balance of the account but it appears I've paid £21.95 extra in interest. Now, I'm not amazing at maths but could anyone tell me if I am correct or wrong.


14 April Bal £146500.82 (including interest charged till end of month)
01 May Made usual £931.30 mortgage payment, no balance available as not online.
11 May Made OP of £1068.70, received balance letter £144305.57.
13 May Made additional OP of £500.00, received balance letter £143827.52.


11 May £144305.57 - 13 May £143827.52 = £478.05, what has happened to the £21.95. How can I be paying additional interest, should I not be saving it?.


Now I may have missed something, but if someone can clear this up I would be grateful. I do suffer from Fibro Fog, so may be not thinking straight. Doesn't help tho that I can't access balances or internet banking. Please excuse me if I'm just being thick.

My_Lovely_Carrot

Ok, Got letter from mortgage company:-


The mortgage account capitalises interest each month and the figures you have been given includes daily interest to and including that day. We refer to this as the 'true balance'. The balance as at the 13th May 16 was reduced by the £500 payment you made but also had daily interest added to it since the 11 May 16, overpayment of £1068.70, hence it did not look as though it had reduced by the £500.


So, balance is now £143,827.51 up to 13 May 16.


On a happy note, my Sky is working again and I am now up to date with Game of Thrones .

EatingTheElephant

Well done on sorting sky out and impressive OPs so far