Project Mortgage Neutral Begins

ajmoney

What a busy day yesterday. Started with parkrun, home to have lunch but ran out of time so made some rolls to take out with me and then headed out for a sea swim. I met some lovely new people so it was a very relaxed swim, heads out chatting the whole way. We went into the beach cafe after for a cuppa (I had no money but we sat outside so I was able to have my flask of tea and my lunch). Came home and cut the grass, unsure when I last did it so it needed doing but after the roofers have had their stuff on the garden the grass was really flat and didn't cut well. At least I have had a go and hopefully it will ping back up so I can have another go next weekend, glad I didn't wait until today as it is raining now. Cooked my dinner and watched Strictly, didn't get in the shower until nearly 10 and then I pretty much fell into bed exhausted.

I was going to go and help at a beach clean in the town at 11 but I might change my plans as I could do with a little bit of me time instead and if the weather clears up I will try and get a bit of gardening done. Heading for another sea swim this afternoon and need to do a bit of planning for next week so I can try and do everything I want to around the working day.

ajmoney

I have filled my car up with fuel and have taken £50 out of my account to start me off on my cash spending month in October. I am planning on £310 for all spending minus fuel costs which I will pay for on my credit card. I am going to take my current account card out of my wallet and just use it when I need to get more cash out for spends. Eventually I plan to do all this through my current account but I think I need to be a little more aware of where my money is going and physically handing over the money seems to be the only way at the moment.

ajmoney

Today's spends, £2.16 at work for lunch and £17.70 at the supermarket for basics and some toiletries. It was strange paying for my shopping with cash but I am sure I will get used to it.
I finally had my doctors appointment this morning and it couldn't have come at a better time. I am hoping he will be there for a while as finally someone is listening to me. With this appointment and my referral in a couple of weeks time I hoping things will slowly fall into place. I have had another curveball thrown my way in the last 24 hours but the bonus is I don't think anything more can whip the carpet from underneath me so the only way should be up. I am trying to prioritise me, it would have been very easy to not bother with my outdoor swim this evening but I knew it would help so I made sure I told someone I was going so I couldn't back out. Unfortunately I am completely off my food and definitely not replacing the calories I am eating so I may have to easy back on the swimming even though it is keeping me sane.
All my money shuffling has been done for the beginning of the month and I am looking forward to see where my mortgage totals sit once the payments have cleared.

ajmoney

My mortgage payments are showing but my OP hasn't registered yet, once it does my smallest mortgage should have dipped below £9k :T
I need to look into options for the new year. I am currently paying £250 a month into a n@tionwide regular saver which matures on 01/01/20, each year I have just opened a new one but they have since withdrawn this product. I plan to use this one as a large OP but unsure whether to find something similar to do again or just OP the amount every month instead. I guess I should play about on a calculator and see what works out best.

ajmoney

Only 3 days into the month and already I think that £310 for all spends apart from fuel might be pushing it too much, especially as if I stick to it I will have around £670 left over unless I have forgotten anything. I am going to try as much as I can with it and see how far the money gets me.


Who has cracked and put their heating on? I am trying to persevere but wonder if I am just being silly now. I am getting back from swimming outside, eating, rinsing my stuff, showering and then dressing warmly to make sure I heat up correctly but the house is cold and my clothes aren't always dry before I need to put them on again. Even typing this I think I sound crazy, maybe I will look into getting some carbon monoxide alarms tomorrow and put my heating on if only for an hour here and there.


My OP is still not showing on my account and it is very frustrating, I want see a total beginning with an 8 for my small mortgage

ajmoney

The reason my OP wasn't showing as I hadn't actually transferred it I think that shows where my mind has been this week but it has now gone! I will have £400 left in the account before fuel and any extra spends.

I put the heating on last night and had the best night's sleep in ages although I was still cold.

ajmoney

Thinking ahead a little to the new year when I make the biggest OP so far in my OP history and I'm not sure which is the best option although I guess it will be the last one. They are


Pay off mortgage earlier by reducing the term

Reduce monthly payments

Keep the payments the same until they recalculate at any rate change


I will be OPing at least £3k in January so want to ensure I am doing the right thing. I am aiming to get rid of this small mortgage by April 2021 if not before.

Lomcevak

My personal preference is to keep the term the same, let the monthly payments drop, then add the difference to your overpayments.

Having a lower required monthly payment gives you options if cash flow is constrained (whether reduced income or large outgoings, e.g. building work), and if not you don't notice the difference, the same payment goes out each month, but you are reducing the mortgage faster.

We've kept the monthly payment the same for years now, to the extent that we're now sub-£20k with 12 years to run, so only have to pay about £80 a month. We actually pay much more, but if we had an emergency the mortgage wouldn't be a burden.

ajmoney

After realising my mistake with the OP it has now hit the mortgage and the total is now below £9k :j:j

I am going to try and get some advice and quotes for new radiators and possibly a whole new heating system as I don't think it is particularly effcient but I don't want to spend money if it is not needed. I am going to be vague to the companies as I don't want to be constantly bothered by them.

CathT

^^^ we do this. Our main mortgage is actually fairly low but I add an overpayment of just over £400 to keep the term on track.

We've had the heating on a couple of times now but mainly just to dry clothes. I've given up on line drying now.