Mortgage free by my own merit

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  • Sea_Shell
    Sea_Shell Posts: 9,388 Forumite
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    You refer to "petrol", so is it not an option to change to diesel car? It sounds like your mileage warrants one.
    How's it going, AKA, Nutwatch? - 12 month spends to date = 2.31% of current retirement "pot" (as at end March 2024)
  • OhtobeMortgageFree
    OhtobeMortgageFree Posts: 323 Forumite
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    twinklie wrote: »
    Hiya,


    I'm an ex teacher too (so is my DH). Seems to be so many of us about.


    I'm just getting back on the property ladder and have just started up my MFWB thread (new one for a new journey). Hopefully we can go on the journey together!


    My EF currently stands at about 1.5K so we are working on that and paying down debts I think before worrying about OPing mortgage. BUT, I've started the thread now to keep me focused whilst I get going with it all.

    I shall pop across and check out your thread too. I'm loving reading other people's journeys to try and inspire my own at the moment. 😊
    I know we have a couple of bits coming up that will need to come out of our emergency fund. We're looking to have our garage converted in the New Year, so this will slow down overpayments as we build our EF savings pot back up again. Like you though, I want a thread to help keep me focused and motivate me to keep going!
    Original mortgage total: £140,000.00 (July 2015) Original mortgage end date: June 2040
    Mortgage free start date: 16th October 2018 Mortgage total at this point: £132,829.12
    Current mortgage total: £67,272.66 Current mortgage end date: June 2032Daily interest: £7.59 > £3.38
  • OhtobeMortgageFree
    OhtobeMortgageFree Posts: 323 Forumite
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    Sea_Shell wrote: »
    You refer to "petrol", so is it not an option to change to diesel car? It sounds like your mileage warrants one.

    I think the cost of changing cars at the moment would outweigh the benefits of switching to diesel, but it's definitely something to consider when we do look to purchase our next car.
    Original mortgage total: £140,000.00 (July 2015) Original mortgage end date: June 2040
    Mortgage free start date: 16th October 2018 Mortgage total at this point: £132,829.12
    Current mortgage total: £67,272.66 Current mortgage end date: June 2032Daily interest: £7.59 > £3.38
  • OhtobeMortgageFree
    OhtobeMortgageFree Posts: 323 Forumite
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    It's been a couple of weeks since my last post but I've remained on track.
    I went away with friends at the weekend. Three nights away for £60. Did a food shop for £10 before I left which gave me enough food for the weekend along with one pub meal out. Since returning home on Monday I've managed to get away without a food shop this week, living off of store cupboard and freezer items. I'm hoping to make what we have left last until Monday. (Fingers crossed!)
    I've also cashed out £40 of surveys on Prolific which will go towards Christmas presents I still need to get.
    We're having some work done to convert our garage in the New Year and I'm worried about scraping together enough extra money in time without wrecking our savings completely but should hopefully scrape by with a few extra night-time overtime shifts in December. I just won't sleep!
    Original mortgage total: £140,000.00 (July 2015) Original mortgage end date: June 2040
    Mortgage free start date: 16th October 2018 Mortgage total at this point: £132,829.12
    Current mortgage total: £67,272.66 Current mortgage end date: June 2032Daily interest: £7.59 > £3.38
  • OhtobeMortgageFree
    OhtobeMortgageFree Posts: 323 Forumite
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    A mixed bag today...
    I made it to the bank to pay in a cheque I received for my birthday and also a small royalty cheque for some teaching resources I wrote years ago, BUT I met with some friends and their children at a local visitor centre for a walk and we ended up staying there for lunch, so I actually spent more than I had put aside for the week on top-up food in one hit. :(
    BUT I also had an email today from somebody I regularly do part-time work for asking me if I'm available to work on a new project with him, which will hopefully mean a bit more money coming my way again.
    I feel like it's all such a juggling act right now! I'm desperate for some new running trainers at the moment (I run 50 miles a week so go through pairs fairly quickly) but can't justify the cost until after Christmas. My husband normally buys me a new pair as my my Christmas present each year but we've set ourselves a £20 limit this year to keep costs down so I'll have to see if I get given any money or vouchers at Christmas time instead.
    Original mortgage total: £140,000.00 (July 2015) Original mortgage end date: June 2040
    Mortgage free start date: 16th October 2018 Mortgage total at this point: £132,829.12
    Current mortgage total: £67,272.66 Current mortgage end date: June 2032Daily interest: £7.59 > £3.38
  • OhtobeMortgageFree
    OhtobeMortgageFree Posts: 323 Forumite
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    Plan for the day: to drive into town to go see TSB about overpaying our mortgage. I had loads of hassle speaking to somebody on the phone as to how to set up the app on my phone. They assured me it would mean I could overpay via the app but if this is the case, I can't work out how to do it! Five different people couldn't get the app to let me log in as I don't have a TSB bank account, just the mortgage. It took a very nice man in branch to sit down with me and click through on his computer to approve various things before we got it to work.
    My husband and I are waiting until after Christmas to start actual repayments as we have a garage conversion happening in the new year so need to be sure of having enough put aside for that first.
    I spent several hours last night reading through other people's MF diaries though and it's left me feeling rather inspired again today!
    Original mortgage total: £140,000.00 (July 2015) Original mortgage end date: June 2040
    Mortgage free start date: 16th October 2018 Mortgage total at this point: £132,829.12
    Current mortgage total: £67,272.66 Current mortgage end date: June 2032Daily interest: £7.59 > £3.38
  • OhtobeMortgageFree
    OhtobeMortgageFree Posts: 323 Forumite
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    So it appears that I cannot view details of my mortgage online without a bank account from TSB as well. Very frustrating, but I have booked an appointment for the start of December to set up a bank account with them. Does anybody know of any deals that I can get with certain accounts with TSB?
    It won't be for savings, as I currently have a 1.1% savings account with Nationwide. Therefore I'm not interested in the interest, but any money incentives I can get for signing up.
    Original mortgage total: £140,000.00 (July 2015) Original mortgage end date: June 2040
    Mortgage free start date: 16th October 2018 Mortgage total at this point: £132,829.12
    Current mortgage total: £67,272.66 Current mortgage end date: June 2032Daily interest: £7.59 > £3.38
  • beanielou
    beanielou Posts: 90,308 Ambassador
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    Dont know of any money incentives to sign up but one of their accounts pays 5% on blances up to a certain amount.
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.     ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • OhtobeMortgageFree
    OhtobeMortgageFree Posts: 323 Forumite
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    beanielou wrote: »
    Dont know of any money incentives to sign up but one of their accounts pays 5% on blances up to a certain amount.

    Thanks. Somebody else mentioned this on another post as well. Sounds like it's definitely worth stashing £1500 savings in that account purely for the access to the mortgage. 5% is a lot higher than my current savings interest!
    Original mortgage total: £140,000.00 (July 2015) Original mortgage end date: June 2040
    Mortgage free start date: 16th October 2018 Mortgage total at this point: £132,829.12
    Current mortgage total: £67,272.66 Current mortgage end date: June 2032Daily interest: £7.59 > £3.38
  • pinknsparkly
    pinknsparkly Posts: 542 Forumite
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    Hi O2BMF!

    Your plans are very inspiring - I'm hoping to also start mortgage OPs in the new year like you. But will also be limited by wanting to rebuild our emergency savings and do work to the house. The purchase is currently going through at the moment.

    You mentioned using your Tesco clubcard points to go away for UK holidays - what do you use them for exactly? I've previously only really used them for meals out or days out but we're not likely to be having any big holidays for a few years so if I can use my points for UK holidays instead then that would be fab!!
    MFW2023 challenge #99: £1090.11 / £1,000 MFiT-T6 (Jan 2022 - Jan 2025) challenge #99: Reduce mortgage to £400,000. Current balance = £413,551.19 Initial MF date (23rd Aug 2022): Sep 2051 Current MF date: Jul 2051 Last updated: 15/06/2023
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