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  • atypicalblonde
    atypicalblonde Posts: 3,057 Forumite
    Although it is stooopidly high, at the time it worked well for us because it was a three year step deal, starting on 4% for year one. We wanted the certainty of knowing what our payments would be so we could budget accordingly.

    Plus the high rate spurs me on to overpay as much as I can before we come to remortgage in June ;).

    The clock seems to have stopped today, work is draaaaagggging... x
    MFW :)
    [STRIKE]Mortgage 8.2.15 - [/STRIKE][STRIKE]£171,064.64[/STRIKE] Mortgage 1.5.2018 - £99,980.45
    Aiming to be MF 1.10.2020
  • determined1_2
    determined1_2 Posts: 266 Forumite
    ATB

    Daly interest is calculated as follows:

    Capital balance outstanding x rate of interest / 365 (366 if a leap year)

    E.g. £100k mortgage at 5% would be

    100,000 x 5% / 365 = £13.70 per day

    HTH
    Mortgage started May 08 @ £144,499 for 35 yrs:eek: Must get mortgage sub £100k by xmas 2011

    Current balance/total OPs/total interest saved/months saved
    £111,000.00/£27,336.40/£96,025.57/156
  • SmileyG_2
    SmileyG_2 Posts: 359 Forumite
    atypicalblonde wrote: »
    I'm stuck on *whispers* 6.99% fixed until June... part of the "1st time buyer offer" that was effectively the only mortgage we could get when we were in the market for a mortgage... yep that's right, read it and weep :o ...

    My first fixed rate was a 12.75% rate over 5 years. No one should criticise you for taking this as at least you knew what the monthly payements were.

    Take it from, things may get tougher in the short term, but you are in control now. Make every effort to reduce the mortgage and in the long term you will take control. It took me 12 years to get to grips with my mortgage, but since I did I now know that I can manage it.

    SmileyG
    Target acheived: _party_ Mortgage offset in June 2012!_party_
    Mortgage = -£98
    Endowment = £0
    Investments = £40,247
    [STRIKE]Deficit[/STRIKE] / Surplus = £40,149(at 22/09/2017)
    "Don't spend then save, save then spend!"
  • gallygirl
    gallygirl Posts: 17,240 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    atypicalblonde wrote: »

    Taka - I like your maths hun :D. TBH knowing almost £600 has been added on to the balance since my last payment was taken, is enough for me, i'm too chicken to work out what it's costing me daily :o

    That would be around £20 a day hon, so about 85p an hour, just in case you needed any more inspiration :eek:
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
  • Tesco_points_addict
    Tesco_points_addict Posts: 3,242 Forumite
    gallygirl wrote: »
    That would be around £20 a day hon, so about 85p an hour, just in case you needed any more inspiration :eek:

    OMG GG is like a walking calculator!! GG I want you to owrk out mine hun, not taking into account any offset (of which thankfully there is a fair amount) We owe £84,000 on 1.09%........how much is that per day please??? I don't need a too the minute update:rotfl:
    Thanks for popping in to the blonde and often dippy world of ATB!

    Sorry to highjack your thread, if you have ever read my diary you will realise you are not the only dippy/dizzy round here!

    TPAx
    MFW - We've only gone and blooming done it!
    May 2013:j
  • determined1_2
    determined1_2 Posts: 266 Forumite
    TPA

    Rounded to the nearest penny, that is £2.51 per day.

    Woaw, wish my interest rate was that low :cry::cry::cry: Im pay £20.34 per day at the mo :cry::cry::cry:

    HTH
    Mortgage started May 08 @ £144,499 for 35 yrs:eek: Must get mortgage sub £100k by xmas 2011

    Current balance/total OPs/total interest saved/months saved
    £111,000.00/£27,336.40/£96,025.57/156
  • gallygirl
    gallygirl Posts: 17,240 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    determined1 wrote: »
    TPA

    Rounded to the nearest penny, that is £2.51 per day.



    HTH

    So, 10.4p an hour. That's 1p every 5mins 45 secs. Approx :rotfl:
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
  • atypicalblonde
    atypicalblonde Posts: 3,057 Forumite
    :hello:Evening ladies

    Thank you all for popping in to my thread, I sometimes wonder if I am chundering on my drivel to myself :rolleyes: but it's nice to know you're all looking in, so thanks ;):D

    GG - :eek::eek::eek: - that daily interest amount merits three crazy blue-haired ladies, never mind just one! Motivation indeed :o. Thank you for doing the maths that my little head can't stretch to, I appreciate it :smiley:

    TPA - Hijack away hon! I love having people stop in on my thread.

    Tomorrow I am going to call C&G and hopefully my payment will have kicked in, so I know what the balance is. So long as I start 2010 in the 80s I will be a happy girly - wishing my life away? Me? Never... :o:p:whistle::shhh:

    Bedtime methinks. Another 12 hour day beckons tomorrow... xx
    MFW :)
    [STRIKE]Mortgage 8.2.15 - [/STRIKE][STRIKE]£171,064.64[/STRIKE] Mortgage 1.5.2018 - £99,980.45
    Aiming to be MF 1.10.2020
  • atypicalblonde
    atypicalblonde Posts: 3,057 Forumite
    edited 4 August 2009 at 11:24AM
    Mortgage balance currently stands at £95,509.69 :D

    Thanks everyone for your maths related help and general encouragment yesterday, it is appreciated as ever. xx
    MFW :)
    [STRIKE]Mortgage 8.2.15 - [/STRIKE][STRIKE]£171,064.64[/STRIKE] Mortgage 1.5.2018 - £99,980.45
    Aiming to be MF 1.10.2020
  • atypicalblonde
    atypicalblonde Posts: 3,057 Forumite
    Just paid £15.52 into my savings account so it's a nice round number. Me - sad and OCD'ish? :o:o

    Never... :o:p:rolleyes::rotfl:
    MFW :)
    [STRIKE]Mortgage 8.2.15 - [/STRIKE][STRIKE]£171,064.64[/STRIKE] Mortgage 1.5.2018 - £99,980.45
    Aiming to be MF 1.10.2020
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