2008 MFW newbies

LouiseJ

Just wondering how many of you are increasing your income by doing things like mystery shopping to help with the overpayments.

I have managed to get £50 in mystery shops this month + 2 free lunches.

Any extra money is paid into a current account kept specifically for overpayment money.

Tried to get into AQA but got rejucted, will try again though.

I also do paid surveys and use quidco and pigsback.

Just wondered if anyone was doing any extra to their normal work/lifestyle to be mortgage free?

SALTY69

Di-Dough wrote: »

Di-Dough wrote: »

Im soooo annoyed with the mortgage company:mad: We took out a mortgage in August 2007 on a 2 year fixed rate - in September we upped our direct debit an extra £75.00 (from £575 to £650). Got a letter from mortgage company last week to say rate had gone down and normal mortgage payment was going down to £568.39:T ) Found out today that they did not take the £650 but only took £568.39:mad:) We have the money to pay the extra but this now means sending a cheque and paying for a stamp:rolleyes:
quote]

Think ive finally figured out why my fixed rate is going down.... I think its because my interest is calculated daily and everytime I make an overpayment off the capital it reduces the amount we borrowed so less interest ..... does this make sense ?

Di

Yep Dough same here as soon as they got my Payment of £400 they dropped my payment by x amount but what i do is i pay overpayment + the amount they have change off the interest so i am paying the same each month plus the OP. Hope this makes sense?

Salty

SALTY69

Is anyone else having problems changing there Signature i have changed mine 3 times know and it still comes back the same any ideas please.?

newmoneysaver_2

I do mystery shopping to earn a bit extra a month. Last week and this week I have eaten out for 3 evenings each week. I class it as savings, I don't notice that I have paid a few pounds here and £20 every now and again for a meal, but I do notice when I have an extra £100-£150 coming in at the end of the month.

In the past I hae used this to pay off c/cards and treats, but from now on its all going off the mortgage. I am expending in excess of £200 this month

kezza12

Di-Dough wrote: »

Di-Dough wrote: »

Im soooo annoyed with the mortgage company:mad: We took out a mortgage in August 2007 on a 2 year fixed rate - in September we upped our direct debit an extra £75.00 (from £575 to £650). Got a letter from mortgage company last week to say rate had gone down and normal mortgage payment was going down to £568.39:T ) Found out today that they did not take the £650 but only took £568.39:mad:) We have the money to pay the extra but this now means sending a cheque and paying for a stamp:rolleyes:
quote]

Think ive finally figured out why my fixed rate is going down.... I think its because my interest is calculated daily and everytime I make an overpayment off the capital it reduces the amount we borrowed so less interest ..... does this make sense ?

Di

hi di i asked my morgage company that same question last week as i had noticed over the last year that my fixed rate morgage had gone down and i was thinking that they were pulling a fast one and lowering the rates in relation to my overpayments therefore not lowering the repayment term but they said it was cos the interest had lowered with the over payments and that my morgage will still be payed of early:D (wonder if i should get that in writing:think: )

kezza12

just registered with a mystery shopping company but not done any yet, registered with soooooo many survey companies in the past 2 weeks and made a pound (i don't actually think i'm doing it wright) and any tips that i make at work if i dont have a waiter or waitress there goe's directly into the money pig but that is not very often, still working on the OH to put his tips in the piggy (cos he's a taxi driver) but he seems to think that he can spend them on fishing tackle

SPL

hi gang

woohoo - i am so pleased i have been recording my daily interest charges and it looks like the overpayments are making some inroads - the average daily cost has reduced by £0.15 !!

I am v excited by this but will make sure i keep an eye on it to track that the lower amount continues

i would love to get involved with teh mystery shopping and know that i am likely to kcik myself that i have not done it before when i understand it but i have been really put off by the fact that you need to register as self employed etc - any advice on what you need to do re this would be gratefully received

newmoneysaver_2

Hi SPL,

There is a whole thread dedicated to MS here. The first post give all the information about who to register with, TAX & NI. I must say I was terrified by the thought of self-assessment, but it actually wasn't that bad.

Good Luck!

Di-Dough

SALTY69 wrote: »

Di-Dough wrote: »

Yep Dough same here as soon as they got my Payment of £400 they dropped my payment by x amount but what i do is i pay overpayment + the amount they have change off the interest so i am paying the same each month plus the OP. Hope this makes sense?

Salty

Makes perfect sense Salty thanks - glad I'm not the only one its happening to

Di

Di-Dough

kezza12 wrote: »

Di-Dough wrote: »

hi di i asked my morgage company that same question last week as i had noticed over the last year that my fixed rate morgage had gone down and i was thinking that they were pulling a fast one and lowering the rates in relation to my overpayments therefore not lowering the repayment term but they said it was cos the interest had lowered with the over payments and that my morgage will still be payed of early:D (wonder if i should get that in writing:think: )

Thanks Kezza - When I rang my Mortgage Company they couldn't seem to answer the question as to why it was going down Anyway glad I know why now:D

Di