NST March 2022: March movement

Thrifty_Taylor

Thanks for setting up April @apple_muncher. I'll try & be good not to read it before Thursday...

NSD#16 Got a few things done before work, felt quite organised! A good day at work, stopped to pay in most of my £2 coin collection, to cover the cost of our meal out last week. Had a good natter with the lady behind the counter, it's so good to chat with someone who has the same values as you! Came home to find DS1 bored, he came inside, 5 mins after me, then started bickering with DS3 for ages before tea, going round & round & round in circles. It started up again after tea, cor blimey 3 hours later & I was fit to scream! Was so relieved when it was DS3's turn to go in the bath, & we could change the subject!! Shortened the sleeves on a blazer for a customer, watched TV & had a soak in the bath.

Grateful for having savings, peace after all the arguing, & the view of the marina from upstairs in the library, through the huge window (school trip this morning)

ldee2111

Shrewbie said:

Hi turtles, hope everyone is okay.
I had a couple of Nsds today and yesterday as too busy to spend. All good.
grateful for the gym, for bf’s cooking, for my baby sister who’s graduating (2 years late) today. Going to watch live stream of the ceremony tonight. 

Congratulations to your baby Sis, @Shrewbie. Hope she had a good day after such a long wait.

ldee2111

Random question - are any fellow turtles really good with numbers? I’m a words person and quite poor at maths. I have a mortgage question and I don’t know where to go with it. If anyone can work this out, please do 🙏

My question is:
Is it worth overpaying your mortgage when you’ve reached the OP maximum before charges?

I can OP up to 10% per year of the original mortgage loan. 

But after that, I pay 7% fee on OPs. 

My mortgage rate is 2.79%.
I know 7% is higher than 2.79%, but is it better to OP and take the 7% hit than to let interest build up? 

For example, if I’ve got an extra £1000 (I don’t but let’s pretend) and I am charged 7% on it which means I’m only really paying £930. Is that better than letting that £1000 accumulate 2.79% interest every day for a year or possibly more? 

I’m really not a numbers person and this question may make me look really stupid 🙈 but I genuinely don’t know the answer and have tried so many times to work it out. 

Thrifty_Taylor

We have snow! 😯
Thankfully not much has settled so far, but we have hailstones falling from the sky now ❄️

abbi_aurelia

ldee2111 said:

Random question - are any fellow turtles really good with numbers? I’m a words person and quite poor at maths. I have a mortgage question and I don’t know where to go with it. If anyone can work this out, please do 🙏

My question is:
Is it worth overpaying your mortgage when you’ve reached the OP maximum before charges?

I can OP up to 10% per year of the original mortgage loan. 

But after that, I pay 7% fee on OPs. 

My mortgage rate is 2.79%.
I know 7% is higher than 2.79%, but is it better to OP and take the 7% hit than to let interest build up? 

For example, if I’ve got an extra £1000 (I don’t but let’s pretend) and I am charged 7% on it which means I’m only really paying £930. Is that better than letting that £1000 accumulate 2.79% interest every day for a year or possibly more? 

I’m really not a numbers person and this question may make me look really stupid 🙈 but I genuinely don’t know the answer and have tried so many times to work it out. 

I’m normally good with numbers but mortgages are so confusing. The 2.79% interest can’t be per day as the maths doesn’t work, maybe it’s worth just putting it in a separate pot for whenever your mortgage year restarts? I think the interest on that £1000 over a year would be £27.90 so would lose about ~£43 (I’ve had to edit this 3 times as I keep getting the maths wrong)

ldee2111

abbi_aurelia said:

ldee2111 said:

Random question - are any fellow turtles really good with numbers? I’m a words person and quite poor at maths. I have a mortgage question and I don’t know where to go with it. If anyone can work this out, please do 🙏

My question is:
Is it worth overpaying your mortgage when you’ve reached the OP maximum before charges?

I can OP up to 10% per year of the original mortgage loan. 

But after that, I pay 7% fee on OPs. 

My mortgage rate is 2.79%.
I know 7% is higher than 2.79%, but is it better to OP and take the 7% hit than to let interest build up? 

For example, if I’ve got an extra £1000 (I don’t but let’s pretend) and I am charged 7% on it which means I’m only really paying £930. Is that better than letting that £1000 accumulate 2.79% interest every day for a year or possibly more? 

I’m really not a numbers person and this question may make me look really stupid 🙈 but I genuinely don’t know the answer and have tried so many times to work it out. 

I’m normally good with numbers but mortgages are so confusing. The 2.79% interest can’t be per day as the maths doesn’t work, maybe it’s worth just putting it in a separate pot for whenever your mortgage year restarts? I think the interest on that £1000 over a year would be £27.90 so would lose about ~£43 (I’ve had to edit this 3 times as I keep getting the maths wrong)

Thanks abbi. Putting it in a pot is what I was thinking but I doubted myself - just terrible with numbers. I wasn’t sure if 2.79% was added daily which would mean about £334.80 in interest over a year on £1000? Am I just going waaay off here? 

I think I am waaay off here. 

firsview

@Idee2111 Where is F0xh0les when you need her, the master of mortgage o/p’s!

abbi_aurelia

ldee2111 said:

abbi_aurelia said:

ldee2111 said:

Random question - are any fellow turtles really good with numbers? I’m a words person and quite poor at maths. I have a mortgage question and I don’t know where to go with it. If anyone can work this out, please do 🙏

My question is:
Is it worth overpaying your mortgage when you’ve reached the OP maximum before charges?

I can OP up to 10% per year of the original mortgage loan. 

But after that, I pay 7% fee on OPs. 

My mortgage rate is 2.79%.
I know 7% is higher than 2.79%, but is it better to OP and take the 7% hit than to let interest build up? 

For example, if I’ve got an extra £1000 (I don’t but let’s pretend) and I am charged 7% on it which means I’m only really paying £930. Is that better than letting that £1000 accumulate 2.79% interest every day for a year or possibly more? 

I’m really not a numbers person and this question may make me look really stupid 🙈 but I genuinely don’t know the answer and have tried so many times to work it out. 

I’m normally good with numbers but mortgages are so confusing. The 2.79% interest can’t be per day as the maths doesn’t work, maybe it’s worth just putting it in a separate pot for whenever your mortgage year restarts? I think the interest on that £1000 over a year would be £27.90 so would lose about ~£43 (I’ve had to edit this 3 times as I keep getting the maths wrong)

Thanks abbi. Putting it in a pot is what I was thinking but I doubted myself - just terrible with numbers. I wasn’t sure if 2.79% was added daily which would mean about £334.80 in interest over a year on £1000? Am I just going waaay off here? 

I think I am waaay off here. 

When I did the maths on my mortgage it is yearly interest not daily, but they calculate it by how many days in the month so end of February always feels like a good month to me 😃

ldee2111

abbi_aurelia said:

ldee2111 said:

abbi_aurelia said:

ldee2111 said:

Random question - are any fellow turtles really good with numbers? I’m a words person and quite poor at maths. I have a mortgage question and I don’t know where to go with it. If anyone can work this out, please do 🙏

My question is:
Is it worth overpaying your mortgage when you’ve reached the OP maximum before charges?

I can OP up to 10% per year of the original mortgage loan. 

But after that, I pay 7% fee on OPs. 

My mortgage rate is 2.79%.
I know 7% is higher than 2.79%, but is it better to OP and take the 7% hit than to let interest build up? 

For example, if I’ve got an extra £1000 (I don’t but let’s pretend) and I am charged 7% on it which means I’m only really paying £930. Is that better than letting that £1000 accumulate 2.79% interest every day for a year or possibly more? 

I’m really not a numbers person and this question may make me look really stupid 🙈 but I genuinely don’t know the answer and have tried so many times to work it out. 

I’m normally good with numbers but mortgages are so confusing. The 2.79% interest can’t be per day as the maths doesn’t work, maybe it’s worth just putting it in a separate pot for whenever your mortgage year restarts? I think the interest on that £1000 over a year would be £27.90 so would lose about ~£43 (I’ve had to edit this 3 times as I keep getting the maths wrong)

Thanks abbi. Putting it in a pot is what I was thinking but I doubted myself - just terrible with numbers. I wasn’t sure if 2.79% was added daily which would mean about £334.80 in interest over a year on £1000? Am I just going waaay off here? 

I think I am waaay off here. 

When I did the maths on my mortgage it is yearly interest not daily, but they calculate it by how many days in the month so end of February always feels like a good month to me 😃

I think my safest bet is to just stick the OPs in a pot until next tax year. 

Kerry_Woman

NSD 21 today.
Grateful for:
Slightly better day in work today, than yesterday.
Cakes in work.
Wordsearch on way home on bus.
Having windows open in flat this evening.
Dealing with cancelling 2 shifts at 2 different weekends, need extra time off as it will help with my mh.