I Want To Be Mortgage Free!

Jessy103

When I've checked the mortgage online this morning the interest had been added on which had taken the total up to £64,817.64. I immediately gave them a call and have made an overpayment for £217.64 taking the total down to £64,600. The interest is 2.88% on our mortgage deal until next year but I am tempted to look how much it would cost for us to get out of this deal and if it would be worth doing this and moving to another that has a better interest rate, has anyone done this because any advice would be greatly appreciated. I'm worried that because I don't work we wouldn't be accepted by another mortgage company but I suppose the best thing for me to do would be to research it before making any decisions!

Have a lovely day!
Jess x

ch4rly2002

My advice would be to ring your mortgage company and find out how much the exit fees would be to leave early. I have found in the past that the fees are prohibitively expensive, even up to the last day, and so not worth paying, except for the tracker we held with HSBC which had no exit fees. Once you know the exit fee I would recommend ringing London and Country who are free to use mortgage brokers and they will be able to advise you if the best deal on the market for you would outweigh the exit fees from your current deal. Good luck!

Jessy103

Thanks ch4rly for the great advice! I will be speaking to DH about it tonight when he gets home to see what he thinks! x

Jessy103

Haven't updated for a couple of weeks because there hasn't been much going on! Today however I have made an overpayment of £200, taking the new mortgage total to £64,400.00. I'm really hoping we can get under £60,000 by the end of the year!

The reason I was able to make another overpayment is because I decided to change the date that the mortgage payment comes out from the 1st of the month to the 25th. I thought this would be a good idea because DH gets paid on the 20th of every month and I am always desperate for the 1st of the next month to come so the mortgage payment will go out and the amount will come down and I thought this way it will come abit quicker! Well it came to the 25th and the payment didn't go out! I called Natwest and they told me because we had already made our monthly mortgage payment for May on the 1st the next payment will now not be until the 25th June!! So my plan has backfired slightly! Lol! The silver lining is we go on holiday at the beginning of June so we will have a little more money for that, which means more ice-cream with clotted cream and a flake!

I'm planning on taking a few food and drink bits with us to help and save abit of money while we are away. I'm also hoping the weather will stop this sunny because we are going to Devon so it would be greatly appreciated!! Lol!

The rain last week and the sun this week has really helped my vegetables in the garden and I already have some French beans to be picked. The peas, sweetcorn, tomatoes, peppers and potatoes are coming along nicely aswell.

After the terrible week we've had I hope everyone has a lovely bank holiday weekend.
Take care and stay safe.
Jess x

kirtsypoos

I get paid on 21st and feel exactly the same wishing my life away until 1st! I might have to do the same and ask Natwest if we can move our date!

Have a lovely time in Devon Jessy, and have an ice cream (or three!) for me

Jessy103

Thanks Kirsty! Oh I will don't you worry about that! Lol! x

Jessy103

Well we came back from Devon at the weekend, to say I was slightly upset by this is an understatement! Lol! I would love to live there so much that it has given me abit of a boost to help me continue to want to be mortgage free and when we are, to then save as much money as we can so that we would hopefully be able to move down there with the money we have saved, the sale of our house and a small mortgage amount! Wishful thinking, I know but it's good to have dreams!

I have added up how much we spent while we were away on food, petrol, parking charges etc and it comes to just under £200. To be honest I have never done this before so I can't say whether £200 is good or bad but atleast when we go away again I will have an amount to improve on!

I've reached £20 on Survey Network so I've been able to cash out on that and also £5 on My Survey UK. I'm at £33 on Onepoll but haven't had any surveys for a few days which I find really annoying when you're so near to the £40 cashout! There are a few others that I'm getting near to cashing out so after the holiday I'm quite motivated to get these done!

I've had the shopping delivered for the next two weeks and was under my budget of £100 which I'm pleased with.

DH gets paid in a week so I'm hoping to do an overpayment with the money left over from this month and some of his wages so that when our next normal payment comes out on the 25th we'll be under £64K and stay that way after the interest has been added on. The only thing that might through a spanner in the works is that my parents are coming up this weekend and as an early birthday treat are taking me to Gardener's World Live at the NEC. As I love my garden this is going to be a real test not to buy a trolley full of plants to bring home! Lol! I'm going to have to set myself a limit of £20 and stick to it!

Have a lovely week!
Jess x

themadvix

It sounds like you had a lovely time away Jess and I think £200 is an excellent spend! I know what you mean about dreaming of moving when you're on holiday - it's a perennial problem for DH and I, but you're right, it is good for motivation! So much of this country is beautiful, it's hard not to get carried away with where 'we could live'!

Jessy103

Thanks MV! You're so right, we live in a beautiful country and we haven't been abroad for long time and I can't say I miss it! I'm glad I'm not the only one that dreams of moving to a completely different part of the country, although I seem to have picked one of the most expensive! Lol!

PrincessLou

I find holidays very motivating too. Just the thought that working hard to pay the mortgage off will give us so much more freedom in where we live, how we spend our time, the adventures we could have. Keep up the good work, Jessy! :T