Fast-approaching deadline for Interest Only BTL mortgages.

Saving_Glut

Was delighted to receive a letter from my Euro mortgage Bank offering me a reduction of 0.2% on my mortgage if/when my LTV was less than 50%. This would equate to a saving of a few thousand over the lifetime of the mortgage.

Alas, hope was dashed when I calculated that my LTV is about 60%, that the bank calculate it at 65% (they calculate it at the end of each month) and that it would cost e150 to get official valuation from Bank. At least my investigations led me to getting an up to date mortgage balance, which was less than I expected!

Meanwhile, in my quest to reduce BTL1 mortgage a little, I have advertised a number of items on FB for sale, BFF and I have gone on self-guided Cycles recently to avoid the ~£45 sportive fees and I am availing of free tour and gym class this evening.

Also, a couple who have been stretched to pay rent for past year as a sharer left the flat, have found another potential sharer to help with rent and other costs. New tenant has thin credit file (only rented for 6 months before, but needs new place as split from bf), but as the risk is low, we have accepted them. An extra person contributing to the rent should reduce list of current tenants leaving in the short-term. Really hoping for no vacancies during the uncertainty of Brexit.

It’s payday tomorrow, and for the first time since December, I feel energised to focus on managing my finances closely again. My biggest concern is around my significant personal and corporation tax bills due in July and August this year. Perhaps I'll be pleasantly surprised!! :rotfl:

greent

Ooof! You were up very early/ late! :eek:

Saving_Glut

Just awake for a couple of hours mid-sleep which is a very impractical family trait greent!!

Saving_Glut

Routine MOT done - no extra repairs required, which was a pleasant surprise!

I “earned” a free gym class worth £11.90 by doing a cycling trial on stationary bike at Xmas fair which I availed of yesterday. I’m not keen on lifting weights or doing a floppy plank, but it was a good workout.

A shower in Euro property was leaking into bathroom beneath it. Spent a short time sourcing a tiler to replace shower seal rather than calling my ‘go-to’ guy. Saved e60.

TT to £65 to BTL1 today.

Saving_Glut

Although I am continuing to spend smart, I have broken my good financial habits acquired in 2018. So I dared to look into my Euro bank account today, as this is my Achilles heel and lo and behold, all looked well! Next step is to ensure all utility bills are paid on time.

Time to get up. Faster and less stressful than normal commute today because of half-term - yeh!

Saving_Glut

OH is decluttering larger items from summerhouse and sold quite a few bits recently totalling £410 and I sold an item for £5! We were nostalgic to let our downhill skis go (end of an era), but it does clear up some space in the summerhouse for new pursuits. As they were sales of joint stuff, proceeds will be spent on joint experiences and none will be directed to BTL mortgages. Purchased tickets for our first attendance at Cirque de Soleil.

I think OH may have caught the selling bug now!

Saving_Glut

HMRC wrote to me last week stating that I hadn't paid my corp tax last year (and that, as this was my first misdemeanour, they viewed it as an "oversight", but would charge me £1 interest per day until paid off). I admit it, I've been a little concerned as I got to the bottom of this.

I clarified with HMRC today that I did pay my corporation tax last year (even if I had paid it into the incorrect HMRC account!). Phew - that's a relief!

Quickly did some math and paid some credit card balances off early. Transferred a sum to my favourite BTL mortgage as I continue to struggle focussing on my finances as a priority!

greent

Phew - what a relief that you got it sorted with HMRC!

Saving_Glut

It was greent! I have decided letters from HMRC are binary in nature - good or bad!

Saving_Glut

Unfortunately, my plans to earn extra cash on Saturday by working at a cycle event was cancelled due to windy weather and debris the wind had left on the road the day before. Luckily a number of my eBay sales ended last night, resulting in a windfall of £264.46. Advertised during eBay promo for minimal fees. All sale proceeds have been sent to my BTL1 mortgage account. Now for the fun bit: packing and posting 7 items this evening!