Getting a mortgage and then becoming mortgage-free!

Kittenkirst

Can't sleep- I fear I have eaten something dodgy or gotten a bug as the noises and pain in my tummy are not so good

Distracting myself by reading diaries and updating my accounts app with yesterday's OPs.

It's pay day today- wahhhhhhoooooo- although the excitement is rather short lived as I shuffle all of the money out of my bank to stop it being frittered on unimportant stuffs!

£10 standing order has gone to the Lifetime ISA account (nominal amount whilst I work out the best route for retirement savings).
£190 straight into my company sharesave & SIP schemes (£50 into SIP, £140 sharesave)

Regular saver goes out on Thursday for £300 and I need to call the bank to move the bills money to the joint account, for house bills, and to my bills account, for my car and life insurance bills.

Once all of that is shuffled I'm down to a very small current account balance, but will remind myself that £500 saved so far from this pay packet with another £200 being saved at the end of the month

That's 38% of post-tax salary into savings pots which I'm pretty pleased with, and do find a stretch to meet and then stay within my normal spends.

All expenses claims submitted; large portions of those will go to gf as we've been using her credit card where possible for these spends to build the points (safe in the knowledge we know it's paid before interest is charged

OPs sat at £61.52 for August so far: planning to boost our monthly OP amount up by £20 to £109.80 which will be paid as soon as the money is shuffled.

Tummy is still causing me woes: think I may be having to call in sick in the morning if the nausea and other effects don't ease off

Kittens are confused that I'm awake so late and keep trying to start the licking and kneading of the arms- I feel mean (& hot!) having to move them and then covering myself with the duvet but they do eventually settle back down!

VelvetFreak

Hi KK. Sorry you are not feeling well. Hope you feel better soon

MichaelDH

Hope you are feeling better soon Kittenkirst!

Well done on the OP. Do you know how much you have OP'd in total since the mortgage started?

Out of interest, have you worked out what the mortgage balance should be at the end of your fixed period and the difference the OP's make? Without over payments our balance will be around £163K in June, but if we round up payments to £800 instead of £668 (and back date to last September) the balance will be just under £160K. A difference if £3k doesn't sound much could be enough to scrape in to a lower LTV bracket so definitely food for thought!

Kittenkirst

HinVelvet & Michael, I'm still feeling queasy but the vomiting hasn't happened since 9.10am which is a good thing.

I've called in sick today as still feeling awful!

Michael: our completion date was 30/9/16 and since then we have OP'd £1857.12

I keep it all on a super s/sheet and I have a running calculation for the LTV. With our current payments & OPs I'm predicting we'll be into the next LTV bracket when our fix ends (31/5/18) should nicely be under 85% (around 83.9% if my predicted OPs occur)....keeps me motivated especially when I then look at interest rates for that bracket!

I'm in my duvet on the sofa with both kittens burrowed under the covers, watching Hannibal. Going to try for a little snooze before lunch and then go into the office to see the boss man.

Jessy103

Hope everything is alright at work and you feel better soon! x

MichaelDH

I'm sure it's nothing to worry about KK, boss man probably just wants to discuss your promotion and huge salary increase

Speaking to the guy from next door recently, he told us they had just re-mortgaged to fund an extension. They put down valuation of £270k on application (taking an average of some of the recent sales in the street) and the surveyor signed off that value no problem. Based on our house being worth £270K in June, we are looking at just over 60% LTV without over payments and just under 60% with monthly over payment of £131.92. If for argument sake we borrowed an additional £40k towards extension cost our LTV would be just over 75% without over payments and just over 74% with over payments. Not bad at all considering current mortgage has LTV of 90%. Fingers crossed Brext negotiations don't crash the property market and send interest rates up

Kittenkirst

At homevwith the duvet and taken more meds to keep the sickness at bay: I'm really not feeling too clever at the moment. Not much else to report other than game of thrones to catch up on tonight

MichaelDH

Yes try not to worry, sure it will all get sorted. Hope you are feeling better soon.

MichaelDH

Kittenkirst wrote: »

Oooh fab thanks MichaelDH! Let me know how you get on with it- I've found regularly checking it in my laptop has been the best way. I'm n at £24.50 confirmed with another £2.62 pending.

Just completed my first survey so have £1.25 pending

CathT

Hope you're feeling better soon.