Getting a Grip and Saving towards the mortgage

michelle09

Sounds like you have Borrowers in the house!

Ouch, that is a lot for house insurance. Will remember not to claim unless the house falls down!

shangaijimmy

At times the weekend ends up that busy that we don't recover from the week at work! I used to love having a day off in work, but those days seem very rare now!!

Busy_Mee1

Morning Michelle and Jimmy.

I know what you mean Jimmy - sometimes I take a secret day off and don't tell anyone, so I can enjoy a bit of me time :rotfl:

themadvix

That's rubbish about the house insurance!

Good news about the dress though

Busy_Mee1

I am away for a couple of days for work, so enjoying a nice relaxing evening. A hot bubble bath, a hotel room picnic and my choice of telly. Bliss

A few MS things to report:

I rang our mortgage provider to find out about making overpayments to our repayment part of the mortgage. We can make unlimited overpayments, but we have to ring every time we overpay to reduce the term or it will just just reduce the regular payment. It probably makes more sense to continue offsetting or using higher rate regular savers........I will ponder.

I was quite keen to chip off what I could from the term of the repayment part of the mortgage because we will continue to pay this beyond our retirement and obviously reducing the term means freeing up more income sooner.

A few MS positives today as I took a porridge pot and a small flask of hot water on the early train for breakfast. I also passed the train journey by doing a Nectar Canvass survey, and these are nicely boasting my Nectar points. This evening I bought my hotel room picnic using a T€sco gift card. As I can claim this back on my expenses this effectively turns the gift card into cash.

I was all set to apply for new H£BC accounts, got half way through and remembered I don't have the details of my donor accounts for switching :mad: Will have to do it when I get home.

Think that is all, everyone is complaining at home because the shop we did at the weekend was really carp but will have to limp along to weekend with what we have in ( and the fruit and snacks leftover from my hotel picnic !)

gallygirl

Busy_Mee1 wrote: »

I rang our mortgage provider to find out about making overpayments to our repayment part of the mortgage. We can make unlimited overpayments, but we have to ring every time we overpay to reduce the term or it will just just reduce the regular payment. It probably makes more sense to continue offsetting or using higher rate regular savers........I will ponder.

I was quite keen to chip off what I could from the term of the repayment part of the mortgage because we will continue to pay this beyond our retirement and obviously reducing the term means freeing up more income sooner.

I used to use regular savers as unofficial offsets on the mortgage (i.e. more lines on the spreadsheet :rotfl:). Then when they matured I'd pay the lump sum off the actual mortgage - winner winner chicken dinner .

shangaijimmy

I do the same gally. And you get an extra set of delightful glee when you make the big OP... I have one coming in 14 sleeps :j

Busy_Mee1

We currently have 3 regulars savers already but include these in our savings totals ( not the interest tho' that is a lovely bonus this month and next)

I could only have 3 this year because we can only earn £500 each in interest (both higher rate tax payers)and our T@sco and NW accounts have paid well. When the NW 5% on £5000 finishes this month, I can open a few more regular savers, and intend to switch to H!!!8364;BC to get a couple more.

March turns into a bit of administrative nightmare sorting all the accounts and spreadsheet out. I feel like I need a day off to do it !

try_harder

I really dont know how you do it , i get completely muddled and forget to pass the money through the accounts each month and end up paying the fees on the accounts ,the same thing happened with the stoozing i forgot to set up a DD on one account and got a £12 charge and a warning for the missed payment ,it definitely is a full time job trying to keep everything running smoothly

themadvix

TH - I have a pay-day 'to-do' list that tell me exactly where I have to circulate everything (and reminds me to do the dreaded invoicing!). I do it all manually because there's no guarantee where I'll be able to take the money from to circulate it due to a fluctuating income. It takes a little while, but once it's all set up it's fairly straightforward. List literally says 'Pay £500 into TSB, pay £1000 into Nw, transfer XXX to RS'. It might work for you? Sadly I have to keep the savings as savings so I don't get the big OP excitement (but if my savings are back up to the right levels, I will OP the interest!)