Paying off the Mortgage earlier.

A_Frayed_Knot

Hi, just read your post, not great news but as bexster said your wife has time to plan and save.

Just a thought though, if your wife finds a new job before being made redundant, she may lose her entitlement to redundancy and/or severance pay. A new job may well turn out to be better than the redundancy though.


With Christmas coming could her employers give her extra hours, or even up her hours so that she will be entitled to unemployment money should she ever need to go down that route.


Something will turn up it just unsettles you, when you hear of news like that.

Brokeattheminute

Thanks for the suggestions,Unf she cant do anymore hours as it would affect her tax credits and she is tied as children need collected from school esp as our youngest child finishes school at dinnertime every day.She is looking for part-time retail work so with shops recruiting just for the Christmas rush i think shes going to wait and start looking for work after Christmas.

Brokeattheminute

Hi everyone 1st Overpayment of 110 came out on Friday there.Need another day of o/t at the beginning of Nov but cant do anthing till wife gets her rota for Nov in her work.Might deliver phonebooks again at the end of Nov which will help Decembers Mortgage payment or go towards Christmas.Want to get new carpet for the hall and new doors as well so will have to factor this into my budget after Christmas.

Brokeattheminute

Got my extra day of o/t in work and am delivering phonebooks on the 27th November next month so any o/t i do in December is a bonus!Am determined to be mortgage free by October 2023 so only 95 mortgage payments to go!

Brokeattheminute

Mortgage payment come out this morning.Just over 60,000 to pay off.Wife got a phone call this morning offering her another job but she had to turn it down as she hasnt got her 90 day redundancy notice yet from her job and shedve had to start tomorrow morning.If shed have got her redundancy notice i think shed have took the job.It was working in the primary school canteen that our girls go to so it wouldve suited us well.They are going keep her name and give her a call if anything comes up after Christmas So heres hoping.

Luckyinlife

well done on the OP and good news about the wife :]

60k is great under youll be into the 50ks soon :]

Brokeattheminute

Thanx Lucky in life Youre not doing too bad yourself with just over 65K left to pay on your mortgage!

Brokeattheminute

Wife got the news that the store shes working in is closing on 16th April next year so she has heard there might be a job going in the canteen of the primary school my two girls go to but they wont be interviewing till after Christmas.So at least she knows now and it gives her time to look for a new job.

bexster1975

That is a shame about the store closing. But at least she knows with a good amount of notice. Fingers crossed for the job she's looking at in the school.

Bexster

Brokeattheminute

Thanks for the support Bexter.Will keep everyone informed on how things work out.At least i know now i can pay the overpayments for at least another 4 months.