Mortgage free by 2021?!

hiddenshadow

Thanks for that, Busy Mee. I agree on the lack of understanding, likely from a lot of people on both sides. It's just too big a situation for your average person to be able to comprehend, really - last week I watched a 30min analysis from a professor at a Liverpool university (I think) who's studied the EU for 30 years and even he said he had no idea how things would turn out.

Some of the comments this weekend make me rage (*cough* the ordinary/decent folk comment; Wales/Cornwall voting to leave and then immediately turning around and demanding the equivalent money they've been getting from the EU *cough*), but I think there's plenty of blame to spread around and it really doesn't do much good.

I can't quite get on board with the "can't we all just move on and try to make the best of it" plan yet, mostly because I don't see what non-politicians can do to help the situation and the politicians seem uninterested/unable to do anything themselves so far...but we'll see. I don't bear any ill will towards the 52% (except those that immediately started harassing immigrants/foreign-looking people, because come on...), but it really makes me sad. The tech industry involves a ton of bright, friendly, collaborative people of all nationalities and I'm sure they feel even more unwelcome than I do (even if the booting out is figurative rather than literal).

hiddenshadow

Text from FD this morning confirms current mortgage balance of £141,979.48. Still have the regular payment to go through on Friday, which (after offset) should put us around £140,500. Slim chance that we could break through into the 130s in July.

Moneyfordreams

I echo what busy mee said,

Our government seems to be imploding, mind you I've stopped reading about it all and I am hoping things settle quickly.

hiddenshadow

Thanks Moneyfordreams. I haven't been able to stop paying attention yet, though of course I'd like the uncertainty to end now (or yesterday) I'm sure it'll drag on for quite some time.

Ran the numbers and DH and I have decided to drop our pension contributions a bit in light of all of this. Right now we can't see ourselves living in Britain (or at least England) beyond 5 years or so, so it's doubtful we'd retire here. We've been overcontributing quite a bit, so will drop down to 20% of our income for the time being. This will mean paying more in taxes, but will also give us almost £700 extra each month to throw at the mortgage.

Ideally this'll leave us with a balance of ~£50k by the end of 2018. (Probably more likely to be £40k if we put all our savings to it as well.) Our fix isn't up until the end of 2020, but at that point we could potentially re-jigger the regular payment to be ~£400/mo and just pay that for the 2 years and then sell, so that we avoid any ERC. I'm hoping by that time the landscape will be clearer as far as what country is doing what, and we can figure out when/where to move. (Maybe we'll be lucky and England won't seem like such a bad prospect?)

Have duly paid into my pension (arguably should have done it on Monday when everything was super low, but ah well). That leaves £19.45 to add to the offset pot, putting the current mortgage value at £142,908.02.

hiddenshadow

Ugh. Up at stupid o'clock thanks to stupid cat bringing in a mousie and yowling about it. (And then needing chasing all over the house to relinquish said mousie and get caught to be tossed outside himself.) :mad: It's now quite windy so I hope he's either outside and sad or bored in our garage and sad (have shut the cat flap so he can't get into the house)...as long as he's remorseful I don't mind! :rotfl:

Is it sad that I'm refusing to look at my bank accounts because I want to relish the pleasure of calculating interest earned/new mortgage offset amount later in the day? (Both for its own sake and so that I'm not half-asleep!)

shangaijimmy

Definitely a little bit sad! But totally 'get' where you're coming from!

hiddenshadow

Thanks, SJ! The banks seem to be conspiring against (or maybe with?) me, as only N@tionwide is showing interest at the moment. Know T$B is always late, but would have expected Ll0yds to show up.

Anyway, at least £20.17 from N@tionwide so far. DH still needs to log into his account and check how much interest we got for a not-quite-full month in there.

Current mortgage balance is officially £140,629.48 but that's a lie (should be £140,923.45). My one gripe with FD (and I think it applies to all UK banks) is the application of interest. Don't bother telling me that my balance is super low when you're going to retroactively apply the interest tomorrow (or Monday). You calculated the interest 3 weeks ago, so give me an accurate number rather than making me think we somehow paid much less interest this month than normal!

</rant> Anyway, after the regular payment and the £20.17 into the offset account, current balance should actually stand at £140,431.82. Might be able to stretch to get that sub-140k this month...we'll see!

User1489

Go on, get under £140k - I dare ya

hiddenshadow

Thanks rasputin_thorpedo, I'm going to go for it!

DH N@tionwide account interest is £8.37 so balance is at £140,423.45.

Still no interest from Ll0yds or credit from H@lifax showing - hoping it (along with the T$B) show up tomorrow.

Have some MB action this weekend, hoping to finally count that against the mortgage as well.

edinburgher

HS has action this weekend - you can tell she doesn't have kids :rotfl: