Was Mortgage Free until 52!!!

A_Frayed_Knot

Been sorting out some more paperwork today, came across old lottery tickets, double checked just in case - no luck.

Still waiting to see if application went through for bank switch. No sales on the bay since yesterday, so don't have to go out today, makes a nice change, to get on with some housie work.

Luckyinlife

Ya im happy with the rate change from 6.4 to 2.4 :]

Ya if you can dip into the EF to max out do it do it hehe :]

Now youv said that i need to check if my 10% is up this year as iv only had the mortgage a month or is it a year from start of mortgage ?

A_Frayed_Knot

Fantastic drop in interest rate ..... almost laughing all the way to the bank ...:rotfl::rotfl::rotfl:

Well, if its the same mortgage lender as me, then the 10% o/p is up at the end of the year, so you're almost in the same place as me, you have 1 month to pay 10%:eek::eek: and I had 4:eek:. Just as well you have your EF as well. Then it starts all over again, but least we'll have 12 months this time round.:beer:


Maybe it will be a different lender.

A_Frayed_Knot

Just off the phone to company that sends out my dividends, they wanted £20 each to re-issue 4 cheques, complained so they offered 50% off, so I'm £40 lighter atm, when cheques come in, will be £££ quids in.:D

Luckyinlife

Im not sure i need to ring them tomorrow Iv writed that down as first thing to do i kinda guess it is bit i cant chuck 6k out of my ef to mortgage nononononon lol as my ef is very important to me being self employed

if that is the case i will have 3 years of 10% end of 2015 2016 and untill my fixed rate is up in 2017

A_Frayed_Knot

If that is the case, then common sense prevails, if it was me I would maybe just chuck a couple of ££££ at it, that way you feel you have contributed, and you always have the following year to build up your EF then o/p if and when you can.:)

Don't do anything you're not comfortable with, there's always the next year.


I've given myself a really tight schedule and i don't really know if its possible, but i'm going to give it a go.:cool:


For me - 2 things - wish I had taken out my mortgage for 14 yrs instead of the 18yrs to start with. I was just so desperate to get my mortgage quick. I just about agreed to anything. Thinking now, I should have asked them about a 16 yr term - they just didn't offer it.

2nd - once term was finished should have went straight into a 2nd fixed term - didn't, so now pushing myself to make up for lost time.

So, my theory is push yourself to the edge:p but not so you fall over the cliff:rotfl::rotfl::rotfl:

Luckyinlife

Haha I know what you mean AFK

I look at it like this i need about 2 years of main bills saved up in the EF which is about 8-10k for me this doesn't include food and fuel of coarse

But then when i saved an extra 5k over what i actually need i seem to feel a lot better/safeish in the short term you know

I am actually ringing them as i type this out haha pop over to my diary to see what they told me

Im sure it wont be long till your term is down to under 14 years AFK :]

A_Frayed_Knot

Off out to PO then some shopping (Oh no, spending) well i have to do it sometime, Will pop onto your diary when i get back. £££ less.

Luckyinlife

Hehe im working/waiting for delivery today only 3 today
be safe

Hollyboll

Hi AFK
You are doing so well with your overpaying, go AFK:T:T
One of the messages I've repeatedly read on this board from those who have managed the MF thing is not to beat yourself up for past - there's nothing you can do about it and it's therefore a waste of precious energy. Not saying this is easy - I'm constantly challenged by it - but think it is good advice
Sorry to hear about energy levels, not to mention laptop and roof. Very impressed at your resistance to all those Yankeee interventions - perhaps you will find something extra bargainous in the sales
You're also doing very impressively with paperwork … I need to gear up to join in

Hope the shopping was successful - and is finished! :rotfl:
xx

ps - Lucky, my mortgage 10% overpayment is per year but not calendar year, runs from anniversary of remortgage (to this one) date.