Statement of intent

shopgirl2512

Got it working - maybe my computer was having a blonde moment! Fingers crossed the picture isn't too depressing...Thanks again.

StuartGMC

Reassuring thanks.

StuartGMC

Just seen that British Gas fixed offer has changed already to run to 31 Jan 2012. This is 4 months longer than the deal I took but it looks like about an additional 7.5% to do so.

If my maths is correct, as per previous calcs fixing on the previous deal was a 13.8% premium over the best online rates, but this new deal is about 22.3% above these values (assuming best prices have remained the same), so looks like the original comments I made that there is usually a 20-25% premium has "corrected".

I'm feeling quite pleased that we took the decision earlier in the month, and watching the US$ about to descend to low levels, I have to assume gas and oil prices will stay high through 2009, (oil jumped US$25 during today!). :T

So I hope a few others out there caught the deal when it was there.

shopgirl2512

Evening...
Just a quick one to say thanks again for the spreadsheet - seems to be working grand so far and I think I'm just about following it! I haven't quite finished with all the bits and bobs, but it isn't looking as bad as I thought (and I get a nice little pay rise this month too) - so hopefully should be able to start OPs next month.
Great stuff - keep up the good work!

StuartGMC

That's great to hear you are finding it useful. Do remember to check on any annual items you might forget (subscriptions etc) and if you don't have info go for conservative estimates (ie gauge higher than it is likely to be).

If you get into keeping receipts for all routine shopping etc then it soon becomes a habit to retain, enter data and see picture update regularly.

TTFN
Stuart

shopgirl2512

Thanks for the hints and tips! Hopefully it's something I'll get into the swing of sharpish...I do put things off. I'm one of the world's great procrastinators. Speaking of putting things off - must go and do some work I have been putting off for hours...:eek:

StuartGMC

Have just received the quarterly statement for the mortgage which covers the period I have been trying to pay OP followed by a further sum equal to interest charged in the month. This means the OP and required payment all went to reduce the capital which is great.

Actually what is very nice to see that the interest per quarter is dropping thus:
Mar-Jun 2007 £277.67
Jun-Sep 2007 £277.88
Dec07-Mar08 £241.20
Mar-Jun 2008 £175.88
Jun-Sep 2008 £155.25

This reflects both an increase in OP, the recent "promise" to pay the interest charged each month and improved offset.

The Bank estimates (excluding offset and our payment of the interest charged each month) that with 7yrs 9 months remaining on the 10yr re-mortgage term, we'll repay 2yrs and 11mnths early i.e. July 2013

As per my signature, am trying to improve this by a minimum of 7 months to hit December 2012, (3yrs 6mnths early) but if we can improve our savings for offset, then December 2010 is viable (5yrs 6months on this re-mortgage, and 8yrs 10mnths on original 25yr term).

Keep me on track folks!

evab_2

well done stuart, it's great to see those interest payments reducing. Our mortgage statement arrives next month but it won't have much change due to no overpayments whilst we save the £1000!

Keep it going.

Welshlassie

Well done Stuart, your efforts really do help keep me motivated and inspired as to what can be achieved without significantly cutting your life style.

Keep it up.

setmefree2

Well Done Stuart:T - it's sooooo nice not to be travelling this arduous path alone:D