Starting Afresh Back Home

Cheery_Daff

So sorry to hear about your work pal Jessy 😕 Such a lot of work-related shenanigans going on at the minute, and your lot sound like a right shower of fiends. 

Pleased you've got your gas sorted though, and look at those overpayments!! So impressive!

Jessy103

Thanks cheery

Jessy103

Well, great news! My work bestie has been given another role in the company and is staying! 😀 It's cheered me up but work is still very stressful. To add to the worry I've had to have some blood tests as my Doctor believes I have anaemia. It certainly would explain a lot! 
Anyway, I'm spending the weekend chilling out and BF is being great, bless him. 

We've had a chat about the mortgage and the future and BF is going to save up an emergency fund and then give me some extra money every month to overpay the mortgage with. Our thinking is that the sooner we pay off this mortgage the better, because we can then use the mortgage money as savings towards our forever home. We're also thinking that we will start to overpay in £1k amounts. When I overpay by £1000, the monthly mortgage payment is reduced. Now I know that doesn't sound very good but the theory is that the extra money saved monthly will go towards the next overpayment and if anything were to happen in our jobs and there was a pay cut, the reduced monthly payment would help. 

Have a lovely weekend! X

newgirly

Sounds like a great plan, you are headed in the same direction still but with the option for a lower payment if you need it which can’t be a bad thing in current times! Glad to hear your work buddy has a job still 🙂

South_coast

Lovely to hear you're making plans ❤ Just a note from me to say that if you make big OP's to reduce the monthly payment and then keep making OP's you're going to get through the OP allowance a lot quicker and then be faced with ERC's. You might think paying the charges is worth it (most don't, but I do as it's worth it to me to see the balance come down and reduce the monthly interest), but just something to be aware of. You could do £999.99 OP's to keep everything as-is, but keep £1000 aside to pile into the mortgage if you suddenly wanted to reduce the payments at short-notice. 

Great news about your work bestie 😀

Jessy103

Thanks NG and SC ❤

It's very unlikely that we'd be able to pay off £1000 every month, more like every 2 or 3 months, so we probably won't be going over the 10% overpayment limit but I will definitely ask natwest what the overpayment charges would be. I only have a figure for if I was to pay off the whole mortgage now and that after 2024 there would be no ERC. Thanks SC x

themadvix

Great news about your friend!

Jessy103

Thanks vix! He seems happy anyway!

Not a lot to report on the mortgage front, we're still at £64,400 and I don't get paid until the 31st so still a ways to go  

I couldn't get a T3sc0 delivery until next week so my challenge is to use up everything in the cupboards, fridge and freezer and only buy from the local shop what is absolutely be necessary to see us through. 

I'm also now trying to lose some weight after my doctors visit so that should help with the money side of things too! 

Gosh, I just want shut of this mortgage so bad! It doesn't help that we've seen a nice bungalow in the village that would be perfect but I think we would struggle to sell what we're in now!
I'm sure something will come up when the time is right

South_coast

Jessy that's the opposite of what you said to Vix on her diary!

Jessy103 said:

Fingers crossed for you vix! Life's too short so if you see something you love, go for it! 😀

If you don't give it a go, you'll never know! At least go and look....

themadvix

SC, you took the words right out of my mouth!

Jessy, consider yourself twice told!!