The Case of the Overwhelming Mortgage

AgathaSquirrel

On a city break with the family at the moment. Feet are sore from walking. Think we’ve under budgeted for spends so the credit card will be broken into. No regrets. This was a holiday we wanted to do. The savings will be built up again. Good to see everyone relaxing and enjoying themselves.

savingholmes

Glad you are enjoying your holiday. Making memories is a good use of money

AgathaSquirrel

Frugal next week or so until payday. Going to have to move money out of savings to cover us until child benefit money comes in. No regrets. It was a good holiday.

savingholmes

Glad you had a good time 

AgathaSquirrel

Down to £83000 now but interest on mortgage has increased. Too depressing to work out what we’re paying per day now. Very glad we’ve been overpaying as our monthly payments are now less, although we will increase over overpayment so won’t actually see it, it’s peace of mind if we ever went down to one wage, we would cope (or just about). We’ve also sorted DH income protection which is again peace of mind.

Lovely day tidying up the garden. All very low key and relaxing.

L9XSS

Just catching up on your diary, re reading from page 3 to 13.....my bad. I think your doing ever so well balancing family life and your “future self”. You’ve made great progress on your mortgage and are getting close to that £77,000 target that you mention earlier. It’s great to have those milestones! Your also balancing pension provision, potential uni costs for your two children and paying down debt (the car loan). Your in a position where if you had to manage on one salary, then you could.....I have to say you’ve achieved all this through working together with your husband to put yourself in a strong position, your future proofing yourself yet still providing and enjoying life, I think you should be proud of where you are currently at so far. Well done, please keep the diary going I’ve enjoyed catching up (my bad) and will cheer you on from now to the finishing line. Have a great Sunday.

AgathaSquirrel

That’s so lovely. Thank you 😊 

savingholmes

Ouch to the rate rises. Good that you are keeping the OPs the same on top.

AgathaSquirrel

The price rises are catching up with us, so I’ve made the sad decision to reduce the amount we overpay into the mortgage. It was probably going to be the case anyway once my secondment came to an end. On that front I’m considering some posts I have been advised to apply for. Hopefully something a bit more stable moving forwards. It will likely be less money but car loan is almost gone, mortgage payments are reduced and savings for study are complete, so I think we will break even.

savingholmes

Good luck with getting a more perm role. It's not easy for anyone at the moment.