Project Mortgage Neutral Begins

ajmoney

I now have 2 mortgages rather than 3.  I am going to play about with some figures but I think it will probably be a £500 OP each month to my larger mortgage and top up my savings again.

ajmoney

I have decided to have a slightly more sensible approach to OPs and saving until the end of the year.  While I have a 6 month EF available if required a lot of this money is earmarked for decorating so rather than OPing £500 a month I am going to split this with £250 to each account which should bring me close to a 3 month EF separate to the decorating money.  I think it adds 2 months to the current predicted overall MF date which looks like it might now be before I am 50.  Any spare money each month is going to be going to the ISA.

ajmoney

Bored. I need to go to the supermarket which isn't something I enjoy at the best of times and am really not keen during these crazy times.  My back hasn't spasmed since Sunday although it is a little achy so I am being very careful and I know at the supermarket I want to buy garden things which involves lifting compost etc.  I will come up with a shopping list and then see how I go.

Thanks to yesterday's payments I now own 46% of my house and once today's payment has cleared I think it will be 48%.  I got myself a little confused with things in the excitement of clearing that mortgage thinking I didn't need to remortgage next month until I remembered I was clearing this one to give a better LTV for next month.  It would be great to be closer to 50% but it is not possible without taking my savings lower than I am comfortable with.  I have my rough plan for OPs and savings for the rest of the year but this will obviously depend on the new mortgage product I take out for the start of August.  Off to do some calculations (it will put off the shopping).

savingholmes

Great to own so much of home

savingholmes

We are at between 42 and 47% depending on current value

ajmoney

savingholmes said:

We are at between 42 and 47% depending on current value

I have based it on the price I paid rather than the current value.  I don't know what that is although in this climate I figure it would be hard to guess.  I have looked at some calculators that say a slight increase and others that say it is the same. 

juliejim

Brilliant news on the mortgages aj

savingholmes

Well if you did it on what you paid hopefully you are underestimating and it may be even better than you think. Our neighbours have just had their house valued at the higher end - but have done a bit more work to their house so not sure what that means for the value of ours. Once C19 is gone - may get our valued and see what they think would be worth investing in to get a better price when we are ready to sell.

CathT

Well done on clearing the smaller mortgage. Hope your back pain is easing too and you're able to get on with garden/exercise etc.

ajmoney

Yesterday the mortgage was showing £0.00 and today it has disappeared from my online banking.  While it is a great achievement it all seems a little underwhelming, I hope when I do finally become MF it is a little more exciting than this.

My back hasn't spasmed since Sunday although it is disrupting my sleep a little but I think this is me being very cautious.  I had a very easy few days but chanced a bit of cleaning yesterday which was fine.  I haven't been back out in the garden since Saturday but my garden bin has been emptied now and we are back on fortnightly collections so depending on the weather I will try and do some tidying.  I need to attack some weeds that are starting to sprout in the beds I have done, I had been hoeing them weekly although I am nervous of doing this now I know there are seeds and bulbs in the ground as I don't want to affect them so will try and read up and find out about this.  I can now attach the sloped bed as there are some wild strawberries starting to grow amongst the dead ones and I need to stop them taking over.  This bed is hard to do and I need to be careful of my bacl but I will do what I can.

I am waiting in for an engineer to finally look at a broken spring in my chair but 7.30am - 5pm could mean any time!