Mortgage Free Sooner rather than later

hannah021

rugbymadfamily said:

Hi @family355 sounds like you have a good solid plan in place and doing well. I found it helpful posting my SOA as people had a few good ideas for areas where I could look to reduce my spend to be able to put it to mortgage OPs instead.

The interest part is tough....mine is currently roughly £22 a day in interest 😱 but I live in a London suburb so it's just more expensive! Interesting thought to see what it would be to rent similar house in your street, I might be nosy and do that for mine at lunchtime!

yeah i live near london too, and the decent 3bedroom homes cost half a million, and i dont have a decent deposit to cover the cost, let alone drowning in interest. £22 is a lot

I currently have 70k from shares and savings, and if the house is 500k, halifax will only lend a maximum of just below 300k, and imagine what interest that would generate... i'd be paying back the interest the rest of my life!!

Either way, i wish you the best of luck OP, and i look forward to being in ur place!!

South_coast

rugbymadfamily said:

Interesting thought to see what it would be to rent similar house in your street, I might be nosy and do that for mine at lunchtime!

Wait, you mean you don't have a Rightmove search set up on your postcode? Just me then - whoops 😳!

longway2go

No SC I'm with you  

family355

Thanks all for stopping by 🙂 
I hope one day I could upload a SOA, reply with a quote or add a signature but for now, using a phone, it all seems pretty impossible for me! 
Had an eye opening few months helping a family member search for a property in the south after a relationship breakdown 😧

Final figures for 2020 are in...

Mortgage Balance £96500 -£2056 in OP’s
C/C debts currently £7300 -£3558.13 paid off these 
8K in bonds, £2025 in ISA’s & 5K in LISA 
The good intention was to pay off C/C or OP mortgage with the bonds but I’m happy to keep it where it is for now. Had a small win of £25 which went in as a OP. 

Signed upto the MFW2021 so until then, Merry Christmas 🎄 & (Hopefully) A Happy & Healthy New Year to all 🙂

family355

What a month. £257.39 in mortgage overpayments made for January.
Home school is tough alongside trying work from home 😖
Issues with both cars that need doing but not urgent then the boiler dies. Great. They say it comes in 3’s. We decided to use some bonds and booked a new one to be fitted £2200-seems reasonable? 

However after waiting 2 weeks in the freezing cold with no heat or hot water And getting the run around from the plumber when it can actually be fitted, I  decided enough was enough and phoned another plumber today for another quote. He arrived, cleared a blockage and got it up and running again for £20!! He also told us, Although it’s old, there is no need to replace and could get another few years out of it. 

So now have a dilemma of the new boiler (delivered a week later) sat in our house that we do not need and an unreliable plumber who has left us hanging on for 2 weeks for a job that was easily and extremely cheap to fix 🙇🏼‍♀️

LeighofMar

Ugh, so sorry family355. That sounds so frustrating. I hate when certain people give tradesmen a bad name. I'm glad you were able to get the issue fixed for cheap and hope you can find a way to figure out the new boiler issue. 

FtbDreaming

Oh dear. Can’t you send the new boiler back if it’s unopened? You probably can. The plumber will probably never turn uo
anywau if he’s already messed you around this long. 

I fully understand the home school struggle. I’ve just emailed dd1 school and asked if she can go back now as I’m a key worker anyway. She’s up all night sleeping all day and not engaging with the lessons whatsoever. She’s only done about 8 weeks in high school and I can see this starting off some major anxiety problems if she doesn’t go back soon. 

family355

@LeighofMar So annoying and has made work school home life unbearable at times when minus degrees! At least now I have found one Tradesman for my keep pile haha 
@FtbDreaming So the boiler was actually Delivered/paid by the plumber, Which is why we’ve held on so long for him to return and fit it. It’s a strange situation to be in as his price was reasonable but for whatever reasons we’ve just not been an urgent job for him? Was he sure he could just turn up whenever if he had delivered it? Who knows? I just wanted/needed some heat and have zero trust if he did still install it that he would be as difficult to call out again plus now we know we don’t actually need a new boiler right now. 

I think a lot of kids are the same- up through the night. This is the case in my house too and even caught my middle DD year 9 doing homework at midnight!  Some schools are allowing them to go in even for a few days so hopefully that’s an option for you. 

Bargainhunter30

If he paid for it I would just msg him and say you no longer need it and to let you know when he wants to collect his boiler. 2 weeks is not a reasonable time frame when you have no heating and it's the middle of winter, especially with kids

family355

Thanks @Bargainhunter30 I agree and wish I was more assertive at times instead of feeling bad about a situation that I felt I had little control over. He has ignored my text and calls since Monday yet phoned my DH later today saying he *should get to us on Monday. I’ll call him tomorrow once I’ve reminded myself how ridiculous washing a 9 year olds hair in ice cold water has been!