I'm paying how much interest a year??!!

here_for_the_tips

First non-essential purchase of 2025! £12 on a brass effect garden thermometer to satisfy my curiosity about exactly how hot our sun trap of a back garden actually gets. Took the Hive thermostat outside yesterday, left it for an hour and it was reading 38 degrees! Can't be right, we live in central belt Scotland, can it?

beanielou

It was warm yesterday but maybe not that hot. Also in central Scotland. 

carboot_karaoke

here_for_the_tips said:

So a little bit short of £4.5k overpaid as we await the 1/5 update and crucially the interest rate decision. The MOT joy of April is about to be replaced by the insurance certainty of June. Normally pay this as a lump sum as but this will impact the OP's for the next 2 months. Wondering if a 0% credit card for purchases for a year or so and pay it up that way would be a better option here? Will see what the comparison sites come up with.

What did you decide reference the 0% credit card? Did the interest rate drop make any difference to the mortgage offers? I was even thinking that another lender might have a more competitive SVR.

I have bit the bullet and opened one. Initially to pay for a deposit for some work l need doing on the house but am thinking l could utilise for car insurance, holiday balance,etc. Then use the money saved to overpay my mortgage.

I've set up a direct debit for the minimum amount of 1% of the balance which l hope to fund by saving on the food bill. In two years when the balance is due l should be credit neutral 😇 and in a position to clear. 

here_for_the_tips

Actually very surprised at how low the one off cost is this year relatively speaking, can get comprehensive cover plus breakdown for £210 (though need to wait until the end of the month for the dates to align) so considering just going for it if the amount stays the same.

here_for_the_tips

"Did the interest rate drop make any difference to the mortgage offers?" Tracker option is starting to appeal, still liking the notion of blitzing for the rest of the year though.

carboot_karaoke

here_for_the_tips said:

Actually very surprised at how low the one off cost is this year relatively speaking, can get comprehensive cover plus breakdown for £210 (though need to wait until the end of the month for the dates to align) so considering just going for it if the amount stays the same.

Bargain, i don't blame you.

here_for_the_tips

beanielou said:

It was warm yesterday but maybe not that hot. Also in central Scotland. 

Arrived Monday night, up Tuesday morning, 12pm temp 12/5/2025. 1/2 south facing back garden. Insane!

here_for_the_tips

So they've adjusted the monthly payment, down £40 to reflect the OP's made so far, it's just going straight back into the mortgage at the start of each month TSB Just waiting to see what's needed for number one child's camp next weekend before putting the rest of the current account into the bricks and mortar

here_for_the_tips

"Thats what I want to see as well, in 6 months time I want an email from the bank telling us they're re-calculating the payment based on the 22 years remaining and we just overpay some more!"

Posted this 11/1/2025 - just realised the letter from TSB after the recent rate change confirms a recalculation based on keeping me on the remaining term of the mortgage and 1/2/2047 end date! Mission accomplished, pats himself on the back.

Made a game changing purchase earlier this week, potato ricer - £14:99 from Amazon. My mash spuds are now perfectly smooth every time with hardly any effort. This and the knowledge about putting water in your grill pan rather then using foil over it to keep it clean I needed years ago. 

Working_Mum

here_for_the_tips said:

Made a game changing purchase earlier this week, potato ricer - £14:99 from Amazon. My mash spuds are now perfectly smooth every time with hardly any effort. This and the knowledge about putting water in your grill pan rather then using foil over it to keep it clean I needed years ago. 

I'm intrigued about the grill pan hack - we always used to grill bacon with two slices of bread underneath so that we could catch the cooking juices and have perfect fried bread! It was always fought over

Well done on reducing your mortgage term - your focus is definitely paying dividends!

WM