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Thanks Ren, I am hanging today after another difficult night if I'm honest. Just glad we don't have to go anywhere.Mortgage Aug 2019 161,000 :eek::eek::eek:Nov 2019 156,500:T Jan 2020 153,122:T, Apr 2020 149,500, Apr2021 139, 675, Oct 2021 136,823, Dec 2021 136,120🙂EF 0/12,000 (0%)😕 (5062.44 was ERC), Jan 2023 128,650. Our Mortgage is never going to be as high as it is today. :jOnwards and downwards to a better life for our family. :jJust keep swimming3
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Hope your little ones are feeling better LW2G and that you managed to get some rest. I remember how exhausting it is when they are ill, especially the lack of sleep. Take care of yourself too0% credit card £1360 & 0% Car Loan £7500 ~ paid in full JAN 2020 = NOW DEBT FREE 🤗
House sale OCT 2022 = NOW MORTGAGE FREE 🤗
House purchase completed FEB 2023 🥳🍾 Left work. 🤗
Retired at 55 & now living off the equity £10k a year (until pensions start at 60 & 67).
Previous Savings diary https://forums.moneysavingexpert.com/discussion/5597938/get-a-grip/p1
Living off savings diary
https://forums.moneysavingexpert.com/discussion/6429003/escape-to-the-country-living-off-savings/p13 -
Ahhh thank you, my eldest is back to normal now and there were some small signs of improvement from the little one today. I am expecting spots in the next few days and tbh will be glad to see them.
Well another lockdown is upon us, tbh I do feel glad but will be challenging non the less. We need to see what my OHs work say tomorrow as he is technically a key worker but they closed in March.
In money saving news I am £25 away from 6k, so half of my 12k target....i know it will be spent but least I have it to spend if that makes sense.
After some thoughts please.....when we remortgaged we took out an 18 Yr term and we are about 16 months into it. In that time we have made OPs of 9166. When C0v1d hit in March I contacted the lender and amended out contracted term to 30 years. This reduced my contractual monthly payment by 336. Each month our lower contractual mortgage amount is taken and I have always paid the 336 as an OP (this is ontop of the 9166) so that we stay on track to clear the mortgage in 18 years or less. The initial aim of extending the term was if one of us lost our job it would ease things financially. Given my current situation I can't decide if I am better to move the 336 to EF each month, on one hand it will help build the funds faster but on the other is eating into the OPs we have made. What are your thoughts around this?Mortgage Aug 2019 161,000 :eek::eek::eek:Nov 2019 156,500:T Jan 2020 153,122:T, Apr 2020 149,500, Apr2021 139, 675, Oct 2021 136,823, Dec 2021 136,120🙂EF 0/12,000 (0%)😕 (5062.44 was ERC), Jan 2023 128,650. Our Mortgage is never going to be as high as it is today. :jOnwards and downwards to a better life for our family. :jJust keep swimming3 -
Ohhh forgot yo say, I weighed... The scales gained some pounds 🤣🤦♀️they are not my friends today!Mortgage Aug 2019 161,000 :eek::eek::eek:Nov 2019 156,500:T Jan 2020 153,122:T, Apr 2020 149,500, Apr2021 139, 675, Oct 2021 136,823, Dec 2021 136,120🙂EF 0/12,000 (0%)😕 (5062.44 was ERC), Jan 2023 128,650. Our Mortgage is never going to be as high as it is today. :jOnwards and downwards to a better life for our family. :jJust keep swimming3
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I would save the £336 to get your EF up, when things settle you can drop a bulk O/P on your mortgage. Better to be cautious as you're starting with zero, still have 18 years to make O/Ps and get back on track.
Nothing stopping you rounding up your mortgage each month, but not how you have been.Mortgage started 2020, aiming to clear 31/12/2029.3 -
Thanks MF, I appreciate your input. I guess I worry that in my pre money-saving days it would be extra money to spend and then I wouldn't get back on track but my whole approach to money has changed and I track everything and would be keen to pay a lump sum back. I like to know how much time I have saved by making OPs so guess I need to figure out some way of calculating the impact of I do decide to go this way. Runs off to play with exce11Mortgage Aug 2019 161,000 :eek::eek::eek:Nov 2019 156,500:T Jan 2020 153,122:T, Apr 2020 149,500, Apr2021 139, 675, Oct 2021 136,823, Dec 2021 136,120🙂EF 0/12,000 (0%)😕 (5062.44 was ERC), Jan 2023 128,650. Our Mortgage is never going to be as high as it is today. :jOnwards and downwards to a better life for our family. :jJust keep swimming3
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Treat the savings as another bill, then your mind separates it from being available to spend and converts it to no touching. A regular saver would be a good place for it as that's £250pm at 1% apr, then in a year evaluate where you're at.Mortgage started 2020, aiming to clear 31/12/2029.3
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Hi MF,
I don't think I can put anything in a regular saver atm because we need max funds available to help with the other house but perhaps in the future that would be useful.Mortgage Aug 2019 161,000 :eek::eek::eek:Nov 2019 156,500:T Jan 2020 153,122:T, Apr 2020 149,500, Apr2021 139, 675, Oct 2021 136,823, Dec 2021 136,120🙂EF 0/12,000 (0%)😕 (5062.44 was ERC), Jan 2023 128,650. Our Mortgage is never going to be as high as it is today. :jOnwards and downwards to a better life for our family. :jJust keep swimming2 -
The RS I have, I can take money out whenever I want, there's no restrictions that way and also means when the other house is done you have an account paying ok interest as who knows how they will change again over the next few months.Mortgage started 2020, aiming to clear 31/12/2029.2
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Ohh thats interesting, I didn't realise I could access it. Will have a bit more of a look. Thank you
Mortgage Aug 2019 161,000 :eek::eek::eek:Nov 2019 156,500:T Jan 2020 153,122:T, Apr 2020 149,500, Apr2021 139, 675, Oct 2021 136,823, Dec 2021 136,120🙂EF 0/12,000 (0%)😕 (5062.44 was ERC), Jan 2023 128,650. Our Mortgage is never going to be as high as it is today. :jOnwards and downwards to a better life for our family. :jJust keep swimming2
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