The Case of the Overwhelming Mortgage

AgathaSquirrel

£100 overpaid to mortgage.

AgathaSquirrel

Moved some money around to buy eldest a refurbished laptop for Christmas. Have £9 left in my account until payday (Friday). Have no plans between now and then so will be fine. Heading off to the gym now. Would rather be in bed but needs must.

AgathaSquirrel

Overpayment this morning. This will briefly take us into £40000s before interest moves us back to £41000s. Should be able to celebrate having paid off £100000 at the beginning of 2026.

DH is unhappy in work again. He is going to speak to someone about anxiety and probably imposter syndrome but this has been an ongoing issue and I’m playing with sums in case he makes the decision he needs to walk away and find a less stressful job. We are at the point we can manage on my wage and a reduced wage from DH. It would mean cutting back but the priorities would remain overpayment of mortgage, university savings and pension. As part of my review I’ve looked at our life insurance and we’re massively overpaying. We now only need to cover a £40000 mortgage and I think death in service will cover it. The other thing is critical illness. I’m covered through work anyway and if I can cover most bills on my own possibly no longer necessary for DH. Will put a bit more thought into it but I think we will stop those payments and possibly reinsure for a smaller amount. It will free £100 for additional mortgage overpayment.

glass_half_full

It will be great when you reach £100k paid off. Sorry to hear about your DH. I hope things work out for him. Makes sense to review the life insurance. I cancelled mine for similar reasons when I realised that death in service benefit was more than enough.

AgathaSquirrel

Mortgage is down to £40,999.33. I’ll enjoy looking at the £40,000 today…back to £41000 tomorrow.

That’s good to hear @glass_half_full. It feels a big step to cancel it as it’s always been a bit of a comfort to know it’s there but I’m no longer sure it’s worth it. Still pondering whether to cover the £40000 or not bother or just do critical illness for DH. I’m covered through work anyway. 

savingholmes

You continue to make a great progress. 
I'm no good on insurance dilemmas as I'm quite risk averse.
Merry Christmas and Happy New Year if I don't catch you again before.

AgathaSquirrel

Thank you.

I’ve been refused life insurance! The irony when I am by far the healthier of the 2 of us. Presuming it’s the basal cell carcinoma. I’m waiting to have it removed but there are no concerns. We have decided just to stick to my NHS cover and do a single cover for DH.

In other news, present shopping and wrapping done. Out to Sainsbury’s tonight and have a 7.30 slot at M&S tomorrow. Both mum and MIL have dropped out of church service so we’ll probably not go. I’m booked into the gym and then hopefully the most peaceful Christmas Eve I’ve had since I was at university.

AgathaSquirrel

Lost my post. Quick summary.

Christmas was hard work but fine. Having a few quiet days now but back to work on Monday. Hosting again Hogmanay/New Years but low key.

Supporting youngest to study today. Prelims haven’t gone well. Trying a structured study plan over the next week. The school are assessing her for any additional learning needs when she returns. Eye test next week as well.

Eldest got unconditional for first choice university.

Reviewing finances again. If husband changes job it will be a drop in finances. Also tired of the travel with my job. Potential for a similar role locally but drop in hours. We’ll see what the next year brings.

AgathaSquirrel

Mortgage is now in £40000s

glass_half_full

Congratulations to your eldest on getting the unconditional offer! And great that you are in the £40,000s. I hope you find the right way forward on your decisions and have a wonderful 2026.