Spend Nowt, Buy Nowt, Owe Nowt

Suffolk_lass

I think I would be looking for a fix now at a low rate with a view to fixing before your job is determined - even if there is a small penalty for doing so early - your existing lender might have a deal they would move you to now if you ask (asking is free, and won't impact your credit rating - they might even waive a new deal fee if you ask, as you have a track record with them). Just a thought.

I'm really rooting for you to keep your job too

Have a good weekend

HairyHandofDartmoor

I'm sorry about your dog but glad he's not in pain thanks to the pain killers.
Good luck with your job consultation, I hope you are one of the chosen ones.

apple_muncher

Suffolk_lass said:

I think I would be looking for a fix now at a low rate with a view to fixing before your job is determined - even if there is a small penalty for doing so early - your existing lender might have a deal they would move you to now if you ask (asking is free, and won't impact your credit rating - they might even waive a new deal fee if you ask, as you have a track record with them). Just a thought.

Yes! Do this! A great idea!

XSpender

I’ve had a look on my online mortgage account as I can change deal on line but the only offer is to pick a deal and reserve it but not until 90 days before the current one ends and we have 80 days until then and my consultation ends week after next.  To do it any earlier would cost us £4200 in early redemption charges.  They also show what my mortgage payment is after the deal ends which is an increase of £200 not the £400 I had calculated but still massive.

f0xh0les

I concur! We just fixed in Feb on a 5 year at 1.79%, so not massively low, but still, even with all this going on, we know that  we will be paying £550 and we do not need to worry about anything.  No regrets here.  Go for it.

f0xh0les

XSpender said:

 I can change deal on line but the only offer is to pick a deal and reserve it but not until 90 days before the current one ends and we have 80 days until then and my consultation ends week after next. 

Hope for the best, prepare for the worst.  Maybe give L&C a ring and see what they would offer- I think some mortgage switchy places offer a bit longer than the standard 90 days.  Worth a (free) phone call to  see which bank/rates they consider to be the most competitive. Their website says you can apply between 3 and 6 months before your current deal ends - I just checked for you.

enthusiasticsaver

All lenders are different but when we had a mortgage we did not have to go through a full application to move deals providing we kept with the same lender so you may not have to declare your job status.  Besides which you may keep your job or find another one by the time the deal finishes.  I would not pay the penalty.  

Suffolk_lass

I am surprised to hear they are maintaining a fixed penalty - all my previous lenders have worked on the basis of a sliding scale for early redemption penalties and have waived when I stayed with them (that would never be on the web-site and would involve a conversation)

XSpender

I haven't posted for a few days as I was feeling very low and a bit stressed out over the weekend but have come out of my funk and am back to myself again this week.

All the colleagues that applied for VR have been accepted so there is only 1 redundancy required from the team.  We still have to be assessed as our job role is changing and  I doubly want the job as the positive impact it will have on my work life balance is significant.  I have also got my head around part of the assessment I was concerned about and am feeling more positive about it (even though I hate doing live assessments) as I have an action plan.

I am still under budget for food but it is under pressure as we did rely on takeaway a bit at the weekend as I couldn't face cooking.  This has been a spendy week as we bought a bird bath Monday (was on our garden wish list) and I have ordered a replacement Bobby Brown foundation and mascara using the MSE code.  I had been scraping the bottle out of the foundation and using a cheap mascara since last year so was due some top ups.  Hopefully there is enough left  in the bottle for me to slap on for my assessment next week as I haven't worn makeup (or blow dried my hair) since March! 

I will ring the mortgage company at the end of next week when I should know the outcome of my assessment and ask if fixing now for 5 years without penalty is possible.  

I was turned down for the TSB card after all, probably due to the amount of debt in my name as I have a good score and no missed payments, but I have decided that, job or no job, I am clearing the balance due on the Lloyds card before the end of the month.  The balance should be about £1750.  The other card I was planning to BT I will have cleared by the end of the year anyway, job permitting, and will not need a BT until next year and will have significant limits available on 2 cards if there are offers available.

DH has had to buy a new phone as for the last few months he can't hear callers on his without headphones due to problems with the sound.  He had cracked it ages ago and when he damaged it further last week chunks of glass were coming out.  He can still get £66 for it in it's current condition! I suppose it has technically added to our debt but I am not adding the contract on to my number as I don't intend to clear it early and it will be almost paid for when we are debt free.

I am hopeful we will over achieve our savings target this month and be close to, if not achieve, our debt pay off target.  Both were set at £1000 each.

I follow the principles of Dave Ramsey's baby steps and use YNAB to track spending.  A new account I have started following is The Budget Mom on instagram/blog and have found her method (although she is 100% cash and I am at least 95% cashless it still works) really useful and feel some of the steps are what I was missing when budgeting and managing our money.  June will be the first month I have done it this way so we will see what the results are.

apple_muncher

I love that you are always trying new ways to manage your money.