Mortgage free by 2021?!

Ali-OK

You're doing very well still :T

I too am sad to read how you feel and how it's changing your plans . I hope what comes out of the way forward will restore your faith in the UK and hopefully your long term plans too

Floyds interest should be in @ midnight tonight from experience, here's hoping!

hiddenshadow

edinburgher wrote: »

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

:rotfl: Feels like it sometimes! Between stupid cat and the dogs having dodgy tummies this week....

Ali-OK wrote: »

You're doing very well still :T

I too am sad to read how you feel and how it's changing your plans . I hope what comes out of the way forward will restore your faith in the UK and hopefully your long term plans too

Floyds interest should be in @ midnight tonight from experience, here's hoping!

Thanks, hope so! One week on and I'm still ranting at the news, so I imagine it'll be a while yet before my faith is restored.

Thanks for the info re: Ffloyds, will look forward to checking accounts (again) tomorrow.

hiddenshadow

£24.12 interest from T$B, £14.18 from Floyds, and £5 reward from H@lifax. Just waiting on T3sco interest sometime.

Current balance down to £140,379.85.

Edited to add: found extra money in the July budget as I'd double-counted the N@tionwide loan payment. Have beefed up a few savings pots and allocated £189.20 extra to the offset pot.

Current balance now down to £140,190.65. :j

BookWorm

Just catching up on things from the last couple of weeks. Sorry to hear recent events have caused you to change your plans. Hopefully as things get moving, they will be able to change for the postive rather than the negative

Well done on the various OP's. I've also done the last of the account interest shuffles today. It's a very enjoyable part of the month!

Have a lovely weekend

hiddenshadow

BookWorm wrote: »

Well done on the various OP's. I've also done the last of the account interest shuffles today. It's a very enjoyable part of the month!

Have a lovely weekend

Thanks! Wish the account shuffle happened more often. Though I suppose between most of the accounts (1st), Floyds (2nd?), T$B (2nd-5th, plus mid-month cashback day), and T3sc0 (TBD?) that's a fair amount of shuffling days.

Did the math and the interest on the mortgage for the amount we have in 3-5% accounts is ~£35/mo, meaning we're earning an extra ~£40 on top of that by offsetting.

hiddenshadow

Pretty productive weekend.

Did a 3.3mi run yesterday, and not feeling too sore today really, so that's nice. Treated myself to two more pairs of running socks which should come this week.

Went out with friends for dinner using the voucher I got as an apology for serving me gluten-filled food a few months ago. No dietary issues this time so that's a win.

Did manage some DIY today, though (as usual) grossly underestimated the amount of time/fiddling it would take. Stalled out for now as we need to get the plumber back to look at the toilet/vanity and tell us exactly how it'll fit so we know what to work around. Need to get a more detailed quote for installing anyway, so will try to get that done this week.

Have been fantasising and looking at horsey properties...found loads in Ireland that - in theory - we could afford now based on the equity in our house. On the one hand that makes me want to just move now so we can be done with it...on the other hand we still have a fair bit of projects to finish up here before we could sell our house, and I think it'll be next summer before we're ready, realistically. Bonus to that is that the mortgage should be ~100k by then, according to the spreadsheet.

EatingTheElephant

That's exciting that you could in theory move now to a great property. it must be so tempting!

hiddenshadow

EatingTheElephant wrote: »

That's exciting that you could in theory move now to a great property. it must be so tempting!

At least once a day DH and I ask each other when we're moving. Of course, I'm more interested in finding an existing property to dream about and he's more interested (and, probably, nervous about) the more abstract things.

We're also guessing at our property value/level of equity. The Sold sign is finally gone from the house down the road, so in...3?...months we should get sales data for it, which will give a sense of what we could get for the house.

Biggest accomplishment of the day: finally washing the upstairs bannisters to rid them of dried paint. Only took (over) 2 years.

hiddenshadow

£15 from sw@gbucks in today, bringing offset balance to £140,175.65.

We've got loads of am@zon credit now, but I'm eyeing some headphones and it's prime day next week so we'll probably get some things then.

hiddenshadow

I've spent the last few days running the numbers loads of ways.

If we do extra mortgage payments for the rest of the year, including DH's bonus (part of which should arrive this month) and moving over 5% account money as the 5% interest ends, we could be ~115k balance in December.

Assuming we re-balance our payments for the rest of our term (10 years 8 months at that point), our regular mortgage payment would be just under £1k.

2017:
Pay the 1k on the house plus rent somewhere else (also ~1k, probably less)
Mortgage balance: ~100k

or

Continue our current overpayments
Mortgage balance: ~74k

2018-2020:
Pay 1k plus rent, and pay ~6.5k in interest through 2020
Mortgage balance: ~42-75k (depending on when we swap to minimum payments)

or

Pay ERC of ~£3,300 and release 150k+ of equity to buy someplace

Math-wise the longer we can wait to sell, the better. However we're not allowed to rent our house with the terms of our mortgage so if want to live elsewhere we'd have to leave the house vacant, which is a waste (plus I'm not keen on the idea of leaving the house vacant for more than a year, really).

So...not really that much clarity, I suppose, but it does confirm that we could possibly move as early as 6 months from now, and potentially sell sometime in 2018. I'm not sure we're quite prepared to do either/both of those things, but it's nice to know that the option is available.

We'll also have to scope out job options - DH should be able to keep his job and work remotely for at least a year, if not longer, as he's vital to his company. I can work remotely for my job, but will need to see if they're OK with that in practice. Even if we both had to find new jobs we should be able to maintain our level of salary, or close to it.