FinancialBliss: My mortgage free journey…

financialbliss

Queen-Bee wrote: »

So, no tips I'm afraid, other than reassurance that all things considered, E-sure seems to be a lot cheaper than the competition!
QB

QB - My bad - typed that up quickly and looks like I haven't outlined very well.

Was with Esure in 2009. Renewal price was extortinate in 2009, so I took the "beat renewal price by 10%" from First Direct and they came in - you guessed it 10% cheaper.

For 2010, I can't get more less that £300, so my existing insurer First Direct at £275.31 seem to be the way to go. Esure this year were about £425 (haven't got the exact figure to hand).

FB.

Queen-Bee_2

Well done FB, but :eek: at the thought I might have beaten Esure's quote by using First Direct instead...
QB

financialbliss

Queen-Bee wrote: »

Well done FB, but :eek: at the thought I might have beaten Esure's quote by using First Direct instead...
QB

QB - may be worth getting a quote from First Direct if you have not had a quote from them already.

FB.

Queen-Bee_2

The insurance came into effect at noon today, so alas it's too late!!!
QB

cazmanian_minx

How do Swiftcover come out for you? I paid £150 for fully comp including business use on a 2.0l Toyota Avensis with 5 years no claims and got £30 back via Quidco - however, that's with no legal cover, no protected NCB and I'm happy to take a voluntary excess of £500.

JonnyBravo

It sure must be that time of the year.
The Mrs' renewal came up this week. £270 with Tesco.
Rang Direct Line and now paying £227 fully comp with a lower excess. Tesco couldn't match it. Done deal with Direct Line.

(thats 9 yrs no claims, £250 XS, 1.6l Zetec Ford Focus on a 57 plate with protected no claims, hire car and legal. Me as named driver.)

financialbliss

Must be one of my later month end interest posts.

We're going away camping in the morning for 3 nights (Haven site - usual pool on site, evening entertainment etc, except we're in a tent instead of a caravan), and it's been hectic all day preparing / getting organised. Got up and decided that daughter needed a new waterproof coat, so we were straight out shopping. Popped into my parents on the way back, but spend the rest of the day in the house / garden.

Bought a new tent last week - a massive improvement on our older tent. RRP is £280, but managed to source it on the internet for £197.99. Old tent was an outer skin with a separate ground sheet, but the new tent is much better with an integrated ground sheet. Slightly larger too:

http://www.vango.co.uk/tents/tigris-600.html

Had only pitched it once (last Friday), so had a second go today, along with trying out the sleeping bags inside. Very easy to pitch.

Was cutting the lawns at around 8.30 - 9pm today, also hoovered car and I've just finished making a korma curry for our evening meal for tomorrow.

I've still got some packing to do, but we're aiming to be away for about 09.00 - 09.30 so that we get there before 12 midday as we're allowed to pitch from 12 onwards. Kids are very excited to be going away for a few days and I expect they will be up early. In total, it's cost us £44.46 for 3 nights, so not too bad, ie £14.82 per night.

Anyway, on to the month end interest numbers...

Opening Balance: 48,499.96
Opening Nationwide completion date: December 2014

Overpayments in Blue.
Interest in Red.
Balance in Green.

Month: Payment (Std / OP) / Interest (day) / Net reduction / Balance / Nationwide completion

January: 1,398.03 (898.03 / 500.00) / 191.83 (6.19) / 1,206.20 / 47,293.76 / Oct 2014
February: 1,429.33 (929.33 / 500.00) / 168.71 (6.03) / 1,260.62 / 46,033.14 / Sep 2014
March: 1,429.33 (929.33 / 500.00) / 181.65 (5.86) / 1,247.68 / 44,785.46 / Sep 2014
April: 1,429.33 (929.33 / 500.00) / 170.88 (5.70) / 1,258.45 / 43,527.01 / Aug 2014
May: 1,429.33 (929.33 / 500.00) / 171.45 (5.53) / 1,257.88 / 42,269.13 / Aug 2014


Totals: Payment / Interest / Net reduction.

Minimum: 1,398.03 / 168.71 / 1,206.20
Maximum: 1,429.33 / 191.83 / 1,260.62
Average: 1,423.07 / 176.90 / 1,246.17
Grand Total: 7,115.35 / 884.52 / 6,230.83


Funds in place for mortgage payments due on the first of June. Mortgage interest will break through £1k in June - haven't re-calculated recently, but last time I did, I estimated it would be 21st June.

Mortgage payments should clear on the 3rd or 4th. Not back until the 4th, but will probably take that value as my MFiT-T2 Chart 02 value.

Here's hoping it doesn't rain too much! :eek:

Financial Bliss.

Fang_3

financialbliss wrote: »

Must be one of my later month end interest posts.

We're going away camping in the morning for 3 nights (Haven site - usual pool on site, evening entertainment etc, except we're in a tent instead of a caravan), and it's been hectic all day preparing / getting organised. Got up and decided that daughter needed a new waterproof coat, so we were straight out shopping. Popped into my parents on the way back, but spend the rest of the day in the house / garden.

Bought a new tent last week - a massive improvement on our older tent. RRP is £280, but managed to source it on the internet for £197.99. Old tent was an outer skin with a separate ground sheet, but the new tent is much better with an integrated ground sheet. Slightly larger too:

http://www.vango.co.uk/tents/tigris-600.html

Had only pitched it once (last Friday), so had a second go today, along with trying out the sleeping bags inside. Very easy to pitch.

Was cutting the lawns at around 8.30 - 9pm today, also hoovered car and I've just finished making a korma curry for our evening meal for tomorrow.

I've still got some packing to do, but we're aiming to be away for about 09.00 - 09.30 so that we get there before 12 midday as we're allowed to pitch from 12 onwards. Kids are very excited to be going away for a few days and I expect they will be up early. In total, it's cost us £44.46 for 3 nights, so not too bad, ie £14.82 per night.

Anyway, on to the month end interest numbers...

Opening Balance: 48,499.96
Opening Nationwide completion date: December 2014

Overpayments in Blue.
Interest in Red.
Balance in Green.

Month: Payment (Std / OP) / Interest (day) / Net reduction / Balance / Nationwide completion

January: 1,398.03 (898.03 / 500.00) / 191.83 (6.19) / 1,206.20 / 47,293.76 / Oct 2014
February: 1,429.33 (929.33 / 500.00) / 168.71 (6.03) / 1,260.62 / 46,033.14 / Sep 2014
March: 1,429.33 (929.33 / 500.00) / 181.65 (5.86) / 1,247.68 / 44,785.46 / Sep 2014
April: 1,429.33 (929.33 / 500.00) / 170.88 (5.70) / 1,258.45 / 43,527.01 / Aug 2014
May: 1,429.33 (929.33 / 500.00) / 171.45 (5.53) / 1,257.88 / 42,269.13 / Aug 2014


Totals: Payment / Interest / Net reduction.

Minimum: 1,398.03 / 168.71 / 1,206.20
Maximum: 1,429.33 / 191.83 / 1,260.62
Average: 1,423.07 / 176.90 / 1,246.17
Grand Total: 7,115.35 / 884.52 / 6,230.83


Funds in place for mortgage payments due on the first of June. Mortgage interest will break through £1k in June - haven't re-calculated recently, but last time I did, I estimated it would be 21st June.

Mortgage payments should clear on the 3rd or 4th. Not back until the 4th, but will probably take that value as my MFiT-T2 Chart 02 value.

Here's hoping it doesn't rain too much! :eek:

Financial Bliss.

Well done! Have a great time!

financialbliss

We're back. Had a great time while away. Weather on Tuesday was cold and wet and ended up pitching the tent in the rain. Wednesday, Thursday and Friday we had great weather and the kids didn't want to leave.

Anyway, at some point while I was away, the June payments cleared and I've updated the charts in post #1, plus my signature to reflect the balance of £40,861.41. I'm using this balance as my MFiT-T2 challenge value for Chart 02.

FB.
PS - I've also updated my "Last 100 steps" chart - linked in post #1 and my signature.

llamahead

Hi FB, I am a long time lurker but I don't think I have posted on your thread before. I am struggling with my maths, we have just got a mortgage and can't work out how much we are paying in interest on a daily basis.

Our mortgage is $440,000, over 30 years at an interest rate of 6.29%.

Could you please help me out with the maths formula for working this out - I think my brain may explode!

Thanks so much in advance - so looking forward to becoming a MFW!