A way to pay! Clear this mortgage before 30 years!

obay

NorthernMonkey1 wrote: »

Well, 3 1/2 months including your base payment, 2 1/2 if you're just counting the OP. No overpayment means you still get to pay off 1 month every month.

Interesting way of thinking, I have just paid another £60 to my mortgage bringing my total overpayment to £610.97 this month meaning by what your calculations I should have saved 3 months off my term on my mortgage. Which would be fantastic!

This should be the last one for now -- Hopefully.

My new interest rate is; £594.99 which is a saving of £15.93/month on my interest, my new daily interest rate is £19.83. which is a saving of £0.53, I am at £5,389.03 away from my £6k target.

I now own 0.43% more of my house then I did in November.

December will be a very hard month to beat in January.

NorthernMonkey1

Remember that as the total reduces, the capital payout to interest ratio changes, so a payment that drops the term by 3 months this month will be different to one for next month However, you've made an amazing start, keep it up

NM (with only 3 weeks of overpayment in December)

obay

Bit of a surprise when I logged into my mortgage account and found that I have actually paid £710.97 to the mortgage this month as extra instead of £610... So that was a nice surprise lol..

obay

Carpets done today which look fantastic, good buy for the entire house at £700 I think, roofer has been out for 2 days now, he underestimated how long the roof would take to sort out, although, it's going great because it is warmer in here and the house is now water tight which should've been done a long time ago.

He mentioned that because the house was built in 1970's and there was a massive recession around that period, it might be whom whoever built the original property might have skimped because of how money was around that time...

So, his on for a third day anyways - I've been helping him out quite a bit, as his on his own and it is quite cheap anyways at £1000.. So helping as much as I can, I filled some of the cavity walling today with him, cut some of the old felt and just a general tidy up so he can just get on..

EDF told us that the walls have been filled, he put his hand down and he said, they're lying to you, all there is stylophome down there.

So hey ho, at least we got a water tight house now, which is noticeably warmer..

All in all, a 'good' day

Moneyfordreams

Well done with your plans. Your first weeks are going great ....

Just wondering if you have a safety net being self employed...? I only keep a small emergency fund, but enough for cash flow for repairs..

your motivation is fantastic, its does rub off on us

obay

Moneyfordreams wrote: »

Well done with your plans. Your first weeks are going great ....

Just wondering if you have a safety net being self employed...? I only keep a small emergency fund, but enough for cash flow for repairs..

your motivation is fantastic, its does rub off on us

I have 2x months earnings as a safety net, currently, with the £ being so weak on the $ I had to restructure the company a bit and move off the american suppliers so that saved me a few grand here and there by keeping with UK only suppliers and move everyone off from America to the UK, of which they didn't mind too much as it was an 'upgrade' for them.

I mess up from time to time, of course who doesn't? I will always try and make things right and plan things out in advance before I do anything!

obay

I've managed to pay £180 to the mortgage today, so that means I have now brought my total payment including my first initial payment of £1209 to £2000 so that's £810 as an overpayment this month.

I will need to stop as Christmas is just round the corner now. lol...

Just want to get it below £150k now seeing as I am at £150,599.

obay

Hope every one is having a good day, I know that I hopefully should, spending some much needed time with my wife and my son!

House is a lot warmer with the roof and the carpet done, and we are no longer dripping wet with water every night! Which is fantastic.

Can't wait for Christmas, I get a day off work! haha

obay

So, another fun day, having to see the family which was good, stressful but overall was ok. haha

So; We've had the roof done and the house is now drying out, still getting a bit of damp here and there but the roofer said it is expected for a few weeks while the house dries out.

On that, we can't get funding for the house to be covered with loft installation so I have just brought 8 rolls to do the loft with, to see if I can get our house warmer, as we've only got 73mm thick of it anyways, bringing it up to 270 will make it very warm for us I hope.

That's a job for Tuesday anyways, will be some fun I think I should buy a mask as I'm going to need one.

It's £100 that I could potentially save in my energy bills, (I hope!) and plus save the damp getting in, as it's pretty damn cold in our bedroom regardless....

Good times and good fun for Tuesday!

Will up date when I have got something to update with!! haha

obay

So, here we go, nothing to report but we had all our friends around today which was awesome, said we had a lovely house and really impressed with what we've done to make it a bit more homie for us and my little lad, J.

Tomorrow is my dooms day, Wicks have just mailed me to tell me my insulation is arriving tomorrow, an entire 8 rolls of it, hoping this will help.

Hoping to fix a damp roof problem.