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The Case of the Overwhelming Mortgage

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  • AgathaSquirrel
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    Cheaper breakdown cover organised; tax claim done; still need to renew gas and electricity but won’t be pretty due to us being home so much last year and price increase. Last quote was £150 a month. Will try again tomorrow.
    2017 - mortgage of £140,000 and interest rate of £10 a day
    Feb 2021 mortgage of £103000
    May 2021 mortgage of £100000
    July 2021 mortgage of £97000
    November 2021 mortgage of £93000
    July 2022 mortgage of £84000
    December 2022 mortgage of £79000
    December 2023 mortgage of £73000
    March 2024 mortgage of £70000
    May 2024 mortgagee of £68000
  • LadyWithAPlan
    LadyWithAPlan Posts: 2,244 Forumite
    First Post First Anniversary Name Dropper
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    Following your falling daily interest is very motivational even for me and its not my mortgage. :)

    I am saving hard to buy next year but think my daily interest rate will then start at about £16 ouch.. No wonder I am Dragging my feet. 
    There will always be a (beautiful stilettoed) foot in fabulous in LaPlan's life.
    I am choosing to be fabulously frugal to support some wonderful life changing and affirming financial goals including buying a London home I love.

    DON'T BUY STUFF (from Frugalwoods)
    No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things. You can’t really hack your way to frugal. You can and should take advantage of discounts, coupons, rewards points, and the like. But at the end of the day, the only way to truly save money is to not buy stuff.    Money doesn’t walk out of your wallet on its own accord.

    My March  streaks to track
    Track Minimalist game  items (Nov 310)   (Dec  95)  (Jan 90)   Feb 50
    Exercise streak  
    YNAB days:: Target 50 days -Age of money 29
    Track my NSD's - Target 13 days/ 0/13

    https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest
  • AgathaSquirrel
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    Following your falling daily interest is very motivational even for me and its not my mortgage. :)

    I am saving hard to buy next year but think my daily interest rate will then start at about £16 ouch.. No wonder I am Dragging my feet. 
    Oh that is painful. We were £10 at the start but that reduced quite quickly. It does help the motivation to overpay when you realise how much you are saving daily/weekly/monthly.
    2017 - mortgage of £140,000 and interest rate of £10 a day
    Feb 2021 mortgage of £103000
    May 2021 mortgage of £100000
    July 2021 mortgage of £97000
    November 2021 mortgage of £93000
    July 2022 mortgage of £84000
    December 2022 mortgage of £79000
    December 2023 mortgage of £73000
    March 2024 mortgage of £70000
    May 2024 mortgagee of £68000
  • AgathaSquirrel
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    Had a read at the SPPA board. I can buy in multiples of £250, so towards the end of the financial year I will buy £750 of additional pension. Next financial year I’ll put £100 a month extra in my stakeholder pension. Decision made.
    2017 - mortgage of £140,000 and interest rate of £10 a day
    Feb 2021 mortgage of £103000
    May 2021 mortgage of £100000
    July 2021 mortgage of £97000
    November 2021 mortgage of £93000
    July 2022 mortgage of £84000
    December 2022 mortgage of £79000
    December 2023 mortgage of £73000
    March 2024 mortgage of £70000
    May 2024 mortgagee of £68000
  • killerpeaty
    killerpeaty Posts: 2,657 Forumite
    First Anniversary Name Dropper First Post
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    Pensions are very complicated, especially for people in your position with a db. I'm glad you came to a decision, most of the time the hardest thing is to decide, not actually to do.
  • AgathaSquirrel
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    Almost in 95000s, next overpayment will do it.
    2017 - mortgage of £140,000 and interest rate of £10 a day
    Feb 2021 mortgage of £103000
    May 2021 mortgage of £100000
    July 2021 mortgage of £97000
    November 2021 mortgage of £93000
    July 2022 mortgage of £84000
    December 2022 mortgage of £79000
    December 2023 mortgage of £73000
    March 2024 mortgage of £70000
    May 2024 mortgagee of £68000
  • AgathaSquirrel
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    Started new job. Now full time, working from home 3 days and on site 2. So far, so good. Enjoying the job, just not the technical hitches that go with it.

    Full time wage will be good, unfortunately we’re being hit with gas/electricity rises. New bill of £134 a month! Present company wanted £180 a month. Gone are the days of £50 a month. We’ll just have to suck it up until prices come down again. We’re in debit too and owe current company £40.

    Mortgage wise getting closer to goal one of sub 90000. Next payment should take us to 94000s.

    Sitting outside enjoying a cup of tea before going back to work. It’s not a bad life.
    2017 - mortgage of £140,000 and interest rate of £10 a day
    Feb 2021 mortgage of £103000
    May 2021 mortgage of £100000
    July 2021 mortgage of £97000
    November 2021 mortgage of £93000
    July 2022 mortgage of £84000
    December 2022 mortgage of £79000
    December 2023 mortgage of £73000
    March 2024 mortgage of £70000
    May 2024 mortgagee of £68000
  • MissLemon
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    Congratulations on the new job and getting close to £90,000!

    Energy prices are going to be shocking this winter. I'm eyeing up all the thermal vests and furry slippers in the shops!!
    Original MF Date January 2035. MF Date February 2022
  • AgathaSquirrel
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    MissLemon said:
    Congratulations on the new job and getting close to £90,000!

    Energy prices are going to be shocking this winter. I'm eyeing up all the thermal vests and furry slippers in the shops!!
    Love the name!
    2017 - mortgage of £140,000 and interest rate of £10 a day
    Feb 2021 mortgage of £103000
    May 2021 mortgage of £100000
    July 2021 mortgage of £97000
    November 2021 mortgage of £93000
    July 2022 mortgage of £84000
    December 2022 mortgage of £79000
    December 2023 mortgage of £73000
    March 2024 mortgage of £70000
    May 2024 mortgagee of £68000
  • killerpeaty
    Options
    Congrats on the new job! How are the colleagues? They make all the difference.
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