Mortgage free by 2021?!

edinburgher

Not sure who your ISA is with, but the rule of thumb seems to be that you lock in the price at the next pricing point (typically next working day), but that the settlement date (i.e. point at which deal completes) is, as you say, usually a few days after. I'm with CSD, they sometimes settle earlier than they say. Still, no harm not being able to fiddle for a few days!

Ali-OK

hiddenshadow wrote: »

Given the info from the bank on how/when they apply interest, I've gone ahead and made our January OP early. I've updated the mortgage balance in my sig but will officially count it as a January OP.

So, year-end recap for 2015:

                          2014          2015          Change
Starting Balance          £197,100.00   £180,690.91
Overpayments              £12,019.78    £13,526.38    up £1,506.60
Ave Overpayment (/mo)     £1,092.71     £1,127.20     up £34.49
Interest Saved            £17,246.02    £11,214.93    down £6,031.09
Ave Net Reduction (/mo)   £1,491.74     £1,585.17     up £93.44
Ave Daily Interest        £21.84        £19.86        down £1.98
Annual Interest           £7,291.70     £7,247.25     down £44.45
Ending Balance            £180,690.91   £161,668.86   down £19.022.05
Net Reduction             £16,409.09    £19,022.05    up £2,612.96

Total
Overpayments: £25,546.16
Interest Saved: £28,460.95
Net Reduction: £35,431.14

Really pleased with 2015's results - bring on 2016!

Sorry I'm so late in catching up

Fantastic achievement :T and loving the table of stats.

New rate is going to make such a difference too, exciting times ahead for sure

hiddenshadow

Ali-OK wrote: »

Sorry I'm so late in catching up

Fantastic achievement :T and loving the table of stats.

New rate is going to make such a difference too, exciting times ahead for sure

Thanks! That table was a lot of work to get everything lined up and pretty. (Why no, I don't have any OCD tendencies, why do you ask?)

Really excited about the impact the new rate will have. Only downside is that our interest saved number is going to drop a lot as OPs won't be as powerful on the lower rate. Our interest paid number is already going to cut in half (£7,570.95 start of 2015; £3,863.89 start of 2016) just through the rate - we'll gain a bit more than that with OPs.

hiddenshadow

edinburgher wrote: »

Not sure who your ISA is with, but the rule of thumb seems to be that you lock in the price at the next pricing point (typically next working day), but that the settlement date (i.e. point at which deal completes) is, as you say, usually a few days after. I'm with CSD, they sometimes settle earlier than they say. Still, no harm not being able to fiddle for a few days!

CSD here as well, glad to know it's SOP and nothing to do with the holidays.

Bit spoiled with my US-based investment experience as everything there seems to happen same-day (perhaps because it's all US based so if the stock market is open the trade can happen).

edinburgher

Forgot to say, but greatly amused to see someone excited about metadata, you're in the right place

hiddenshadow

edinburgher wrote: »

Forgot to say, but greatly amused to see someone excited about metadata, you're in the right place

It's nice to have found "my people". Kindred spirits, you might say.

I was hoping to have some (small) financial news to report today, but no dice.

£co cashback for our B&Q order in October was meant to complete on Dec 24. Then Dec 31. Today it doesn't even say that much, so have filed a support ticket to inquire.

Clyde$dale account is open but the switch still hasn't happened. Have spent 3 days trying to get through (or being promised multiple calls back, which have yet to happen), last time they tried they couldn't fill out the form because my and/or DH's name is too long for their system. Oy.

Did downgrade the S@ntander account (which was meant to have switched to Clyde$dale over a week ago), so at least we won't pay their monthly fee anymore. That also took far longer (18 very boring minutes listening to all the features of the account I was removing!) than desired, but at least it's done.

Not much else to report. No NYE plans as we'll probably be in bed by 10:30 . Could go for a run as it's sunny out but want to save it for tomorrow so I can make progress on my 2016 goal. (Have a work trip next week as well, so it makes sense to shoot for Fri/Sun/Tue runs and not run while away Wed-Fri.)

Am amused at reading the YNAB forums about their new release - as a software developer I both feel for them (releases are always fraught to some extent, no matter how much preparation happens in advance) and am aghast (why they thought this version was ready to release, I don't know).

debtfreeoneday

happy new year to you!

hiddenshadow

January 1, so a new month! Have done the spreadsheets and gone for a run (bit painful, chilly + lingering cold made breathing difficult, but it's done!).

December OPs: £201.35

Current balance: £159,482.01
Month we’d be in to get to our current balance without OPs: July 2020 (+ 3 months!)

2016 Overpayments: £1,400.00
2016 Interest Saved: £1,653.35

Total Overpayments: £26,735.47
Total Interest Saved: £30,114.34

Daily Interest: £10.60 (down £8.07 )
Monthly Interest: £563.15 (down £15.61)
January 2015 Interest: £643.01 (down £79.86 :j)

House Bricks: +2!

Goals
Mortgage reduction: £2,186/£29,669 (7%)
Stocks & shares ISA: £500/£1,000 (50%)
Fitness: 1/150 runs (1%) rounding up
Net worth increase: £???/£65559.14 (0%)

lippy1923

Love the figures and the new goals. I think I will quietly copy your running goal if you don't mind. Need to do some serious exercise this year. Last year was the best I have ever had, from Jan up until September. Then we went on holiday and other things in the last few months of the year which meant I stopped all fitness

Really going to struggle getting back into it, but it's my new goal.

hiddenshadow

Good luck with your running, lippy! I had a good stretch in March/April last year and then...yeah. Heat and/or bad weather + laziness + surgery and required recovery meant I completely lost momentum.

I'm hoping to do something every day - think tomorrow I will try push ups. Hoping to be able to do 3.