Mortgage free by 2025

Mickyh-s

For some reason I thought it was going to be cold today. I washed the dog bedding and put it in the tumble dryer without realizing how warm it is outside and it would have dried if I had put it out. Now I'm cross with myself for using the tumble dryer! 😤

Mickyh-s

Dh has been busy this morning. He sold excess patio slabs to a neighbor for £100 and some grass feed (we no longer have any grass in our garden) to another neighbor for £10. He also called to complain to BG regarding them canceling a service on the boiler again. They do it every year so we end up having two services every three years instead of the three we are paying for so they have refunded him £160.

I called Next regarding an order they have messed me around with and got £10 off my account bill plus 25% off the trainers I am buying.  All in all, a productive day!

Mickyh-s

We have had a productive weekend without too much spending.

Saturday morning I did my Tesco.com shopping order online to come this week. I find if I do it online, I can control my spending.

We had an inspection due on our BTL property so went off and had a coffee and chat with our tenant. He is really looking after the property with no intensions of leaving so that’s good. Just waiting on our P60’s to come in at the end of this month then will do the figures myself for the BTL saving somewhere in the region of £250-£300 for an accountant.

Did some washing. Unfortunately I ended up using the tumble dryer on Saturday not realising how nice it was outside. But, on Sunday, I did put a wash outside and it did dry!

We only spent the money DH made on selling excess slabs to a neighbour.  We purchased some new pots for the garden.  The garden is nearly finished – or should be in a couple of days.

Booked MOT for my car and DS’s car for May – fingers crossed.

I also booked kennels for fur baby for our holiday and a couple of other breaks.

Need to get Monday over and done with and try not to spend any money this week unless it's petrol or food.

Have a good week.

minimad125

Mickyh-s said:

I have been lurking on MFW for a few years.  I go through phases of being really good at overpaying and then life gets in the way!

There is just me and DH (plus fur baby Franklin) in our household.  I am 46 and DH is 57 in a few months. My goal is to pay off our mortgage by the time DH is 60 so in 3 yrs and 4 months.

 

Our mortgage is currently £70,589.08. Originally a seven year mortgage taken out last July 2021 on a two year fix of 1.32%. Current monthly payments of £945 (approx. £80 interest a month) and our house is worth approx. 320k.

 

We also have a btl property which we can sell if need be as we have under 75% ltv. Worth approx. 150k with mortgage of 106k.  Would love to sell the btl and throw the money at our mortgage but our tenant is fab and the house is a new build so no maintenance required at the moment. Also, DS is living with his girlfriend at the moment and one day, when he is earning enough (he’s one year into a four year engineering apprenticeship), we could sell it to him cheap or he could rent it from us.

 

Our mortgage is currently with NatWest.  If I op, NatWest reduce the monthly payments instead of the mortgage term. If I want them to reduce the mortgage term, I need to pay a fee of £30 each time I op!  So, I am squirreling the op money away every month and will make a 10% op once a year.

 

I love reading all the MFW diaries and hope keeping my own diary will help keep me focused.

I will be the same as you in July, just under £60k when my 5yr fix finishes. Managed to secure another 5yr at 1.63% before it all spiralled upwards. I have decided this time, instead of overpaying, to reduce the mortgage term by 4 years which in effect keeps the payments the same (saved a whole £1.50 a month on previous payment) so now at 11 years. I may overpay some just to reduce the monthly payment but with the savings rates above the mortgage, it may not be worth op.

Mickyh-s

Completely get what you are saying @minimad125 but in my head I need the mortgage gone. I look at it as a debt, or a noose around my neck. As soon as it's gone, will throw everything into savings and my pension...got just over 20 years before I can retire! 🤣

Mickyh-s

Having a treatment on my hair this weekend. My sister is doing it for me so it is free.

We need some compost for our pots. DH has some cash left from selling stuff out of the garage so he will use that.

Was hoping to do a car boot this weekend but the forecast this weekend is not warm enough for me to stand in a field for 5 hours. I will continue with the decluttering.

I also need to return some purchases back to the shops for refunds – that will lower my cc balance.

We are on our last bucket of logs for the burner. The log supplier emailed yesterday to say the prices are going up next week so DH ordered a crate that will last all next winter.

Watching the pennies so the pounds look after themselves!

Mickyh-s

Dh has received a letter today back from NS&I re lost premium bonds...no joy. Never mind, we did try, on more than one occasion to find them but we had exhausted all names and addresses! I think they may have been in his Nan's name (now deceased) and she just gave him the slips which are now lost. 

badmemory

They are tying more & more to the owners as time goes on so no need to give up yet.  But if they were in her name it is possible that they were given to whoever would have inherited from her.  There were probably several for assorted grandchildren as she wouldn't have bought just for one probably, so it is likely they just formed part of her estate & maybe paid for her funeral.  Still worth having tried.

Mickyh-s

It was a quiet but busy weekend, if that makes sense - don't think we spent any money.

I got a treatment on my hair. My sister did it for me but it usually costs £150 so BIG saving there! 😱

DH tiedied the garage and shed out as both had got into a mess. We have a crate of logs arriving Wednesday so they will fit into the garage nicely now.

I cleaned the outside of the windows (when they cut the slabs when laying the patio, there was a lot of dust), only for the window cleaner to turn up this morning! 🤦🏻‍♀️

Couldn't get to work this morning as I couldn't get fuel anywhere in our area. I have managed to get some now so will be back at work tomorrow.  I did manage to wash a load and get it dried on the line today, done some ironing, vacuumed, cleaned the sink and a few other small chores so it's not been a wasted day. Off to walk the dog now.

DH asked this morning why I haven't updated him with the mortgage figure for a while. I informed him I only op on payday. I can op more often if he would like to make contributions 😜

Only a short week this week what with Easter. I finish on Friday for the weekend and really looking forward to it.

Mickyh-s

I have a haircut this week but the money was put aside from payday. I decided I only needed a wet cut instead of cut & blow dry which saved £15!

Over the Easter weekend we have a family get together. There will be approx. 40 of us. I am in charge of sausage rolls/veggie rolls/cheese & onion rolls, cocktail sausages, napkins, paper plates/cups. I purchased it all over a few weeks so I didn’t notice the cost. Really looking forward to it as we usually all have a really good time.

My sister has invited us all over for Easter day lunch. Again, looking forward to seeing the immediate family and someone else doing the cooking even though I will be helping. I will probably be in charge of getting dessert so will make a crumble and get some profiteroles.

Then, on Easter Sunday evening, we have friends over for drinks but will also do cheese & biscuits.  We still have lots of booze left from Christmas as we are not big drinkers so it’s just some cheese and crackers I need to get.

Really looking forward to some walks and fresh air too as I believe it is going to be dry in Cambs over the Easter weekend.