Babystep 6

BabyStepper

So I phoned TSB and they were friendly and helpful. I was given the account number and sort code to make my over payments into (possibly on my statements but I just wanted to be sure) and the reference code (basically my mortgage reference number with -01 on the end). I also got the figure of exactly how much I can overpay in a year, and learned that any overpayments automatically reduce the term (this is what I want) but I can apply to have monthly payments reduced if I change my mind about that.  

I'm good to go. I'll make a payment on Friday and then possibly fret all weekend that it won't appear in my account. I'm not sure why this is so nerve wracking, strange. 

newlife2016

Hi Babystepper, just wanted to pop in and say hi! I’m another Dave Ramsey fan and have spent many hours over the last few years listening to his shows on YouTube! Good luck with your journey and hoping it’s gazelle intense! Lol 😂 

ruby_eskimo

I was exactly the same when I made our first over payment but we had issues with our Halifax account from a fraud alert a few years ago that hadn't been taken off so we had reason to be worried  

BabyStepper

newlife2016 said:

Hi Babystepper, just wanted to pop in and say hi! I’m another Dave Ramsey fan and have spent many hours over the last few years listening to his shows on YouTube! Good luck with your journey and hoping it’s gazelle intense! Lol 😂 

Hi there, good to meet you.  I've had some gazelle intense moments while I was paying off the debt, also some less gazelle-esque times like when I bought my car and went on a holiday. I think I'm somewhere in between at the moment, living frugally but also a bit of spending to get odd jobs round the house finished and make use of extra time during lockdown. DR is funny when he talks about it though, 'run, run, run!' 

BabyStepper

ruby_eskimo said:

I was exactly the same when I made our first over payment but we had issues with our Halifax account from a fraud alert a few years ago that hadn't been taken off so we had reason to be worried  

Fraud?! *gulp* Did everything work out ok?

ruby_eskimo

BabyStepper said:

ruby_eskimo said:

I was exactly the same when I made our first over payment but we had issues with our Halifax account from a fraud alert a few years ago that hadn't been taken off so we had reason to be worried  

Fraud?! *gulp* Did everything work out ok?

Yeah we had a "temporary" block put on the current account linked to our mortgage as someone tried to use the details to make a £5000 order with some company about 3 years ago.  Sorted all that out and didn't think anymore of it as we only use that account to pay the mortgage payments into.  When we came to start making over payments it turned out that the "temporary" hold hadn't been lifted so I couldn't just transfer money from that account into the mortgage.  Got it all sorted after a few calls to the Halifax and we're now happy moving money in and out of the account.

I'm sure you'll be perfectly fine, its just weird things like this which happen to us

BabyStepper

Glad it all got sorted out, ruby_eskimo. 

I was sifting through info on here about bank accounts and savings when I noticed Virgin Money are offering a current account with 2.02% interest on balances up to £1k. Usually I would avoid this as I just can't be bothered moving my wage through different accounts and setting up DDs, I like keeping things simple. However, this account does not require anything like that. Apparently you can just move your cash in and let it earn interest. Once my new NS&I account gets up to £3,000 (possibly at the end of this week) I'm going to open VM accounts for me and OH. Interest is paid monthly so you're not tied in for a year like a linked saver. Interest may not be much but it's better than nothing and more than most just now. 

Anyone else miss the days when the Halifax gave you a fiver for nothing every month? 

BabyStepper

First overpayment has been made to the mortgage of £50. Now just need to wait and see how long it takes to show up on internet banking.  I guess I'm on my way!

South_coast

Well done! Now the obsession begins!

BabyStepper

South_coast said:

 

Well done! Now the obsession begins!

  Thanks! I know all about obsession after paying off the debt, and mortgage freedom is a much more exciting goal!