Project Mortgage Neutral Begins

caeler

Great news on the 50% ownership! 

ajmoney

Ready far too early to leave for work so thought I would log in and see if the mortgage payments were showing yet and I am in shock.  I have taken today's figures and added the monthly interest to double check what the highest my mortgage is likely to be at the end of the month, not only have I hit the 50% LTV but I have also now hit my mortgage target for the year and am below the figure by £200!!!!!  I will have hit all the targets I set in June by the 1st of next month (EF is the only one left to hit) and will still have the other payments to go in.  I will still ake all those payments but it is a nice feeling to start 2021 ahead of where I wanted to be.  I have already been doing rough calculations for next year's mini challenges but I will need to wait a bit for true figures to set them properly.

I am joining a pensions webinar tomorrow morning.  One of the guys at work has already done it and said it got quite confusing towards the end but hopefully I will be able to make sense of most of it.  I knew what I was likely to accrue when my contract was going to expire in 2022 but now it is 5 years later I would like to get a better idea of the difference those extra contributions will make.  All my mortgage neutral/free calculations are based on my own finances and don't take the lump sum I will get in to account as I would rather have that for a later time but will probably use it to clear the balance anyway.

savingholmes

Congratulations. Not surprised as you are very disciplined. Hope pension plans go well too

ajmoney

The pension webinar was very informative.  The most important thing I learned is I can apply for a free pension forecast each year so I will put the wheels in motion this week for the first one, especially now I have a longer contract.  There is an option to contribute extra to one of my pensions although I need to do some research into this to find out how beneficial this will be.

Today has been a fairly productive day, by 9.30 I have stripped my bedding, washed it and hung it outside, cleaned my dining room and porch and washed the bathroom floor.  I moved outside after this to use the leaf vac to try and get up as many as the space in my recycling bin would allow.  Today was the last fortnightly collection so I wanted to get as much in it as possible before we go to monthly collections over winter.  I was never going to get them all up due to the amount of trees but I have had a good go at it and probably pushed myself too much with it and had to sit with a cup of tea after.  I will try and be a little more sensible with this job going forward, one vac bag full each time and then maybe store it in sacks until bin day when it should be drier and more broken down to go in the bin.  If it doesn't fit then or there is too much at least it is already bagged up for the tip.

I went out to a local outdoor shop this afternoon to spend some of my refund money on me, I almost put stuff back until I reminded myself I can afford it!

juliejim

Congratulations on meeting your targets and owning 50% of your house and in such a short time!
Jue

ajmoney

I'm not in work now until next Wednesday and I feel a bit lost.  I have plans for tomorrow and obviously the weekend is off but Monday and Tuesday too, who knows what I will do.

ajmoney

When I remortgaged in August I reduced the term leaving 21 years left for my mortgage.  After OPing £500 this week it has now dropped to 19 years from December when actually it should still be 20 years and 8 months.  I can only assume this dramatic decrease is due to the monthly OPs of £250 as well as I hadn't expected such a sharp dip.  All good news and maybe I will try and do this every few months.

Suffolk_lass

One of the mortgage providers we were with over the years used to only recalculate term when you OP a certain amount. It might have been Nationwide as when we moved house we found the outstanding mortgage on the old house was over £8000 less than we thought it was - we had kept our repayments the same when interest rates fell. Bit different now!

ajmoney

I haven't achieved much off my lists over the last couple of days so maybe I will tick some things off tomorrow. 

I have put out a fb request tonight for joiner recommendations so I can start putting some of my ducks in a row for decorating my living and dining room at some point.  I am off to take photos of the light fittings I am considering tomorrow to see if the electrician thinks they will be bright enough and then hopefully I can get him booked in to fit them as the ones in the living room will be in new places.

I heard a good quote this morning, "if you always do what you have always done, you are always going to get what you have always got".  I have made lots of small changes this year to try and address so many things in my life and this has spurred me on to try and work on the issues that have been stopping me from running.  It also goes with "you do anything but you can't do everything", I try to do the training that typical, generic programmes say but often miss the important things so I am trying a different approach.  My fitness levels have definitely changed and even though I swim a lot and have recently done more walking it is not enough.  I am hoping the time I will be putting in will work my cv fitness a bit more while protecting my joints.

ajmoney

Rough meal plan for the week done, only because I haven't made a decision on lunches and am going to try get some inspiration when I go shopping later.  Apart from a joint of meat for today I don't need to get any other meat for this week after topping up my freezer last week.