Forum Home» Mortgage-Free Wannabe

22 Foxhole East - Page 169

New Post Advanced Search
Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.

22 Foxhole East

edited 30 November -1 at 12:00AM in Mortgage-Free Wannabe
2.6K replies 316.2K views
1166167169171172264

Replies

  • mark55manmark55man Forumite
    5.7K posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭✭
    Hi f0xh0les PMd you some thoughts on pensions - just turned into too long a post for your diary. I'm not a money professional, so not soliciting/cold calling. But have done some homework and our home circumstances are similar (me & my OH + 15 years on you)
    I think I saw you in an ice-cream parlour/Drinking milk shakes cold & long/Smiling & waving & looking so fine
    My aim is to overtake £zero from below and zoom a long way past
    Weight - 1/1/2020 - 121kg : 21/11/2020 - 93Kg - YTD:-28kg, Sep -8kg, Oct -6kg, Nov -3kg
    Start of Year Debt @ 31/12/19: CC:[email protected]% - Car:[email protected]% - Mortgage:[email protected]% = £145K
    Debt Year To Date - (End Nov): CC:£[email protected]% - Car £[email protected]% - Mortgage: £[email protected]% = £113K

    Decrease in Total Debt 2016:£13.4K 2017:£8.3K 2018:£20K 2019:£16K 2020 (YTD): -£32K
  • apple_muncherapple_muncher Forumite
    11.1K posts
    10,000 Posts Seventh Anniversary Name Dropper I've been Money Tipped!
    ✭✭✭✭✭
    Congrats to your dh for the payrise and moving up a grade.
    NST November#1; NSD2 ; Ex2 ; bagfuls (62)

    Mortgage £500? ish (01/14: £78,201; 01/15: £59,629; 01/16: 39,915; 01/17: 27,295; 01/18 23,143; 01/19: 18.275) MFWDate: very soonish
  • f0xh0lesf0xh0les Forumite
    3.9K posts
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    ✭✭✭✭
    He has not got it yet Apple, the whole process is ridiculously slow and convoluted. The application form alone is 17 pages long. and he has just announced next year he will go for full professorship. That will wipe out all Child Benefit!

    I have spent a fun and thrilling evening searching out FENSA guarantees for the poxy windows, having to set new passwords for the house insurance, so I could get in and find out we are insured for an unlimited sum, and all so the conveyancing can begin. We have printed it all out and will find someone off the street to witness our signatures and send back in the morning before last post, they should have it by Monday (13th) and then they have 19 days before the rate changes. Wonder if they can do it quickly when they want to? It all seems so old fashioned and silly. They want £10 if we want them to send us documents, and £17 if we want copies of blah, and £30 for a copy of bleh, plus £22.50 for transferring money (each). So silly. Still, it is a fee free remortgage, and we are good at jumping through hoops.

    Homework for this weekend is to review the life/sickness insurance policies and what is on offer through cashback. We have not looked at them in 4 years and we can probably save on them now. And continue with the cleaning and clearing quests.

    Renovation fund now stands at £10,600.
    So there is progress, things are moving, I am just an impatient mare.
    MFW#65 November 20 = £89,500 Next target £88k + sub £4.25 interest a day ...
    E/F £12,500 + K/F £2,400 = £14,500
    NSTurtle # 8🐢🐢🐢🐢🐢🐢🐢🐢 but I still need a new roof.
  • in_need_of_directionin_need_of_direction Forumite
    6.6K posts
    Sixth Anniversary 1,000 Posts
    ✭✭✭✭
    I get free life insurance up to a certain figure, that I’m not sure of, by having £50 savings in a credit union account. It maybe worth looking into as tying up £50 could reduce ongoing life insurance costs
    Mortgage at 01.01.14 £119,481.83:eek: today £59614.29 Offset fund today 1541.16 target £2000 by 31/12/20
    Emergency fund £5.5/5.5k & £200/200 cash.:j
    Weight 24/02/19 14st 7lb now 13st 2lb
    determined to stop defining myself by my mistakes.
    Progress not perfection.:T
  • kerri_gtkerri_gt Forumite
    9.9K posts
    Part of the Furniture 1,000 Posts Name Dropper Xmas Saver!
    ✭✭✭✭
    I get free life insurance up to a certain figure, that I’m not sure of, by having £50 savings in a credit union account. It maybe worth looking into as tying up £50 could reduce ongoing life insurance costs

    The free CU insurance seems to be a loan protection and savings insurance, is that different to what you have?

    http://gatewaycu.co.uk/free-life-insurance.php
    Feb 2015 NSD Challenge 8/12
    JAN NSD 11/16


  • Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
  • in_need_of_directionin_need_of_direction Forumite
    6.6K posts
    Sixth Anniversary 1,000 Posts
    ✭✭✭✭
    It is linked to savings. However, i only need to have either £50 or £100 saved to gain £15k of cover.
    Mortgage at 01.01.14 £119,481.83:eek: today £59614.29 Offset fund today 1541.16 target £2000 by 31/12/20
    Emergency fund £5.5/5.5k & £200/200 cash.:j
    Weight 24/02/19 14st 7lb now 13st 2lb
    determined to stop defining myself by my mistakes.
    Progress not perfection.:T
  • f0xh0lesf0xh0les Forumite
    3.9K posts
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    ✭✭✭✭
    We need to have enough cover to pay off the mortgage - so £94k
    MFW#65 November 20 = £89,500 Next target £88k + sub £4.25 interest a day ...
    E/F £12,500 + K/F £2,400 = £14,500
    NSTurtle # 8🐢🐢🐢🐢🐢🐢🐢🐢 but I still need a new roof.
  • Cornish_mumCornish_mum Forumite
    169 posts
    100 Posts First Anniversary
    Hi foxholes if DH is USS for his pension, checkout their death in service and retirement because of ill health benefits PDF... you might find you only need insurance for you, as it’s quite good.

    PS well done on DH going for promotion, it’s a mind numbing awful process (and unis have a habit of mucking it up... my first promotion took 18 months but they did agree to back date it 6 months because of an admin mess-up.) Also if DH does hit the CB threshold you might want to look into AVCs via USS for extra pensions (there is quite a good modeller on the website if you can get hold of DHs logon) . They have an ethical fund choice which is fee free too (it’s what we did when DH got his promotion).

    Sorry if you already know all this. Best wishes CM
  • f0xh0lesf0xh0les Forumite
    3.9K posts
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    ✭✭✭✭
    Thanks CM, I know nothing about pensions, additional voluntary contributions, nuclear physics, or anything like that.

    I got very excited today when a parcel arrived for me, for me!! oooh! I knew I had not ordered anything so it was all very ... oh yeah, hoover bags for my Henry. I know how to live!

    So, did another split shift at the foodbank, it was tipping it down tonight so we only had one client. Very odd. We blamed the weather. It was very nasty. Nobody would venture out unless they absolutely had to.

    Spent a good two hours nearly completing the Kitchen Cleaning Quest, have about another half an hour and it will be completed (tomorrow after dropping the kids at school) then I will begin Laundry-Quest, which is a space of all of 2m2, so really should not take much time, as most of the space is covered in a washer and dryer. There are 4 shelves though, and a lot of empty boxes which should be able to be repurposed or dismissed. I am really hoping tomorrow will be the day I only have the Bathroom of Doom to beat into submission.

    While I have the desire and the ability to get it done, I really ought to get it done (while I wait for the mortgage to complete.... not that I am actively waiting - oh, yes I am!!!)
    MFW#65 November 20 = £89,500 Next target £88k + sub £4.25 interest a day ...
    E/F £12,500 + K/F £2,400 = £14,500
    NSTurtle # 8🐢🐢🐢🐢🐢🐢🐢🐢 but I still need a new roof.
  • badmemorybadmemory Forumite
    3.9K posts
    1,000 Posts Fourth Anniversary Name Dropper
    ✭✭✭✭
    I agree with CM, but in addition, if you decide to cancel the money claim to CB, don't forget until your youngest is 12 you can still use it to claim the NI benefits for your state pension.
Sign In or Register to comment.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support