Keeping our options open

becky170

Thank you @Cambs_Chap. Good luck for your own mortgage free journey...every little does help even if it's just knocking off a couple of pence interest a month. I think I'm going to be incredibly grateful for my overpayments when I next come to fix as I can't see myself being able to get another mortgage at 1.74% now interest rates are starting to go up. My original idea for making overpayments was so that I could keep my options open about being able to give up work if life threw us some curveballs....as my DS is having some problems and can't access childcare outside of school it's looking more and more likely that at the very least I am going to have to take unpaid leave to cover holidays etc so I am grateful that we hopefully have some financial wriggle room. Anyway enough of my ramblings...are you going to set up your own MFW diary?

savingholmes

I agree watching other MFWs has definitely been inspiring. I agree with you about interest rates - and it's one of the reasons I want to pay extra off. I'm hoping a better LTV will reduce the rate when my fix ends in a few years time.

Cambs_Chap

Thank you. We’re nearing the end of our 5yr fixed period which ends in October. Currently on a rate of 1.69% but be amazed if we get anything like that given that everything seems to be increasing. I’m convinced there will be more interest rates rises by the time we come to remortgage, it couldn’t have come at a worse time. 

I just started my diary a couple of weeks ago. It’s ‘Mortgage Free by 50…. Hopefully!’

becky170

It looks like our nursery fees are going up by about 6% from April. It's going to hurt especially along with national insurance increases too. Oh well at least we have wriggle room so we're in a better position than most. I'm really hoping that my pay rise this year is more than the 1.5% I got last year! 

savingholmes

Well done on any pay rise. Still waiting for mine

becky170

savingholmes said:

Well done on any pay rise. Still waiting for mine

Sorry to hear that savingholmes. The last couple of months have definitely taught me that I should be grateful for everything I have. 

Nurse2047

Just caught up, well done on your achievements so far 👍

becky170

I've managed to withdraw £7 from my vinted account so that's another £7 overpaid in the mortgage I really liked my experience of selling on vinted so will definitely use it again. I've had another sale via Faceb00k this weekend and another item is being picked up today. Nothing is high value but at least it's out the house

My other successes this weekend have been a lovely morning out at a national trust place, a bit of DIY, 4 loads of washing and one pile of junk post being sorted. My plan for this week is to tackle the overflowing washing basket! 

savingholmes

NT visit sounds nice... I need to get back in the habit of going out and about again. Feel like I've been hibernating recently.

becky170

I had another £7 payout from Quidc0 so that's another £7 overpayed off the mortgage  definitely baby steps in terms of overpayments this year but even a tiny overpayment makes me happy.

I've been playing spot the highest petrol/diesel price on my way to work this week. The winner currently is petrol at 175.9 and diesel at 185.9. luckily I don't fill up at that petrol station but I'm still not looking forward to filling up next week as I'm sure the price is going to make my eyes water. My 40 mile round trip to work is now not looking very attractive!