Progress is...

greenbee

Surely the fact that it's fraud means you can hand it over to the police (or at least threaten to)? Although I realise that this might delay things further which you might not want to do.

rtandon27

@greenbee - one process is not mutually exclusive to the other - I happen to have an old friend who works at the fraud office & her advice has always been involve the lawyers from the get go! - the strength of our side is that not once have we interacted directly with her on this & not once have we done anything but present facts! - dig her own grave - luckily we don't actually have a dire need for the money that is tied up in assets & as OH and I have maintained all along - she can deal with him now or me later!

rtandon27

So a pivot to the actual point of this thread! The mortgage!

My five year fix at 2.32% has ended & my last payment at that rate on Sept 1st saw 700 to the principle and 250 to interest. I made a small overpayment and rounded to 1000. This put me at 124500 going into the new rate of 4%-ish. Not bad given that 5 years ago I was at 185000 and am paying off the mortgage on my own (house is mine). So I've averaged 12100 a year off the mortgage.

Looking ahead for the next year, I'm not aiming for huge overpayments and am happy to round up to 1000 a month whereas the new payments are 950 instead of 930 each month. Of that half will be to interest and half to the principle - it's quite ouchy to see that but I still have overpayments set aside to the end of the year so four more payments of 250 to be made.

KajiKita

Have you missed a ‘0’ off the 5 years ago figure? If so, that’s huge progress!! 🤩👏😊

KK

rtandon27

@KajiKita - haha - yes, I'm on the tablet today and it's predctive text is a menace - all corrected now!

What I have to keep reminding myself is that for almost two of those years I was on insurance and PiP both of which were meager compared to regular income! We keep our budget in check, and I had to remind OH yesterday that we do have enough for a cheeky takeaway once or twice a month given that we are mostly ensconsed at home these days! Mostly we eat a lot of Waitflower pickety bits in lieu of takeaway mostly because OH's appetite is very limited!

beanielou

https://forums.moneysavingexpert.com/discussion/comment/82122942#Comment_82122942

How despicable.

rtandon27

https://forums.moneysavingexpert.com/discussion/comment/82123407#Comment_82123407

Having played with the mortgage calculator it appears the new interest rate adds 2 years to my pay off date, going from 11yrs11mths to 13yrs11mths - still not the 15yrs from the original projection but still past my retirement date! (signature yet to be updated)

SIGH SIGH SIGH - one step forward, 10 steps back!

Nothing to be done about it atm, so will plod along with payments and overpayments as planned until the end of the calendar year and then re-evaluate overpayments for next year - currently set at a minimal 50 pounds per month, but obviously needs to be 10x that to bring my mortgage-end date back to pre-retirement!

KajiKita

I had similar when we had to remortgage. It is initially very demoralising but you soon forget about it as you settle into the new payment routines, honest 😊

KK

Cheery_Daff

Yep, same here when we went from 2.26% to 4.46 🙄 still pre-retirement for me, but that's not saying much as my official state retirement is 22 years away 🙄😭

edinburgher

2.09% to 6.15%! Then thankfully back to about 4% 😨