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    • Cheery Daff
    • By Cheery Daff 11th Mar 18, 6:28 AM
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    Cheery Daff
    Cheery's country living adventure
    • #1
    • 11th Mar 18, 6:28 AM
    Cheery's country living adventure 11th Mar 18 at 6:28 AM
    Hello lovely people

    I'm Cheery, been around these parts a long time now and had several DFW diaries over the years, most recently here.

    We are two - Mr Cheery and I. We've been together over 12 years now, and last week we moved from the middle of the city to the middle of nowhere. We were snowed in within 24 hours and unable to leave for a week Quite an introduction to country living

    I now have a mortgage for the first time in my life Mr Cheery had one before, but as it was near the end when I met him, we never added me, and then it got to the end of its 25 year span a few years ago. Now we have a brand new one, and I would like to pay it off as soon as possible

    It's going to take a while - we've borrowed 215,000 over 25 years A reasonable rate though (1.8%), fixed until Sept 2019. Our monthly payment is 890, and I'd like to overpay by 10 at least - with the aim of on average paying off an extra 110 a month to take it up to a round 1000.

    If we don't pay it off early, it'll run til I'm 62, and Mr Cheery is 80 A good incentive to get on with it

    Sadly our building society doesn't have online banking for mortgages (bloody ridiculous) and only sends annual statements, so it looks like I'll be ringing them up every five minutes for a new balance

    I would love it if you dropped in occasionally for a nice cup of tea, especially if you brought along some cake

    More details in a minute
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    • Cheery Daff
    • By Cheery Daff 17th Jul 19, 6:25 PM
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    Cheery Daff
    A sensible course of action greenbee!

    I received my signature with 15 mins to spare, and met my deadline with 10 mins to spare. NOT acceptable when this is an externally set deadline that has knock on effects both for the organisation and for my career if we didn"t meet it

    Nobody would have died of course, but I have now had several apologies from various parties so I hope lessons will be learned

    Mr Cheery has had a similarly vexing day for different reasons so we tried to go out for tea but were thwarted by our favourite restaurant being shut for no reason. So we came home via the supermarket for treats and will spend the evening on the sofa with a lot of well-deserved booze instead
    • greenbee
    • By greenbee 17th Jul 19, 6:58 PM
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    Glad you got your signature. Enjoy your booze.

    I rashly invited friends over for supper tomorrow, so need to work out what to feed them. When I find out exactly who is arriving at what time... I suspect that one individual may have miscommunicated with his wife

    Obviously rather than thinking about what I'm feeding them and doing the prep and cooking, I've been blitzing the house and garden. Lots of overdue stuff done, but I'm not sure it was entirely necessary. However the house is looking great. Garden is looking a bit dry and over, apart from the stream which is choked with giant weed!
    • Cheery Daff
    • By Cheery Daff 19th Jul 19, 8:14 PM
    • 8,743 Posts
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    Cheery Daff
    I think blitzing the house and garden is an admirable pre-visitor task greenbee! Hope you had a lovely time with your visitor

    Well it's been a weird old day here. Fine, but weird. My first day off (of 10) But the *weather*! Good gracious. Thought the fog was going to envelope us completely at one point, and I've not seen it rain so hard for a long time Definitely a day for sitting cosy inside

    Still, some things have been achieved We did trundle to a cafe for tea and a shared cake And I've done some scything of the lawn, and potted up some tomato seedlings, and shovelled four wheelbarrow loads of cow muck round my fruit trees

    And Mr Cheery made lentil soup for lunch, and I made kind of a no-meat balls bake thing for tea, so we've not eaten toooooo badly.

    Spent quite a bit of time holed up staring at the computer screen with one thing and another though quite a bit of matched betting... (it's kind of become my default staring-at-the-screen activity now which I suppose saves me from other internet rabbit holes and at least makes us some money in the meantime ).

    And I've done YNAB again - less than a week after last time! All looking acceptable (especially now I've remembered to transfer 500 from the savings account to cover what has already drip fed into the two regular savers Wondered what had happened there for a while!)

    That's all ticking along nicely, so thank you SO much to those of you who helped and encouraged me to set it all up at the start There's 1500 in one of them, and 1250 in the other (I can't remember which has what percentage interest now, although sadly I think the 5% one was reduced to 3% anyway after a few months) but it's building up nicely Looking forward to totting it all up at the end of the year

    Right, while I'm in screen-staring financial mode, I'm going to go and do my final mortgage calculations.. back in a bit...
    • Cheery Daff
    • By Cheery Daff 19th Jul 19, 8:48 PM
    • 8,743 Posts
    • 44,819 Thanks
    Cheery Daff
    Right, mortgage calculations done and decision made

    If we pay a the biggest upfront fee of 1600 to get the lowest rate of 2.06%, we save a total of 696 over the no-fee rate of 2.26% over the five year fix.

    BUT if we take that 1600 and instead pay it off NOW (rather than paying it as a fee for the new fix to start in October), and take the no-fee fix of 2.26%, we save a total of 1097.22 over the five years

    Goodness me I love this website and my increased financial literacy

    And also, psychologically it feels better paying the 1600 as an overpayment, rather than as a fee

    And yes, I am VERY grateful we are in the fortunate position of being able to pay off that lump some, partly from various little scrimpings and savings, and partly my recent MB efforts.

    Feeling very grateful tonight
    • edwink
    • By edwink 19th Jul 19, 10:46 PM
    • 2,194 Posts
    • 14,299 Thanks
    Right, mortgage calculations done and decision made

    And yes, I am VERY grateful we are in the fortunate position of being able to pay off that lump some, partly from various little scrimpings and savings, and partly my recent MB efforts.

    Feeling very grateful tonight
    Originally posted by Cheery Daff
    Aww bless you Cheery. You are doing so well

    Blimey that 1600 mortgage fee nearly made me fall off my chair, that's an eye watering amount. For what it's worth had I been in your shoes I would have chosen the same mortgage that you have. As it is fixed for 5 years it will give you some breathing space and you won't need to sort it for quite a while now Good luck with the over payments. It all makes a difference in the end. We over paid on our mortgage as and when we could and each time we kept the mortgage payments the same because we knew that is what we could afford and doing that made a difference to our mortgage amount too. It's quite addictive once you start paying some off and all you want to do is pay more and more off but when you have a house and run a couple of cars it is not always easy but like you we threw all we could at it. We have been mortgage free for 10 years now and all I can say is keep chipping away at it Cheery because it is definitely well worth all the effort, seriously it is.

    Well done with the MB, you seem to have picked that up pretty sharpish you clever lady. To be honest I wouldn't know where to start with it. I keep popping on to your thread to see how well you are doing with it. How you find the time with your work and other commitments is amazing. You are certainly a little grafter that's for sure.

    Big (((((HUG)))))

    Edwink x
    3.36 kWp system, 10 x Ultima & 4 x Panasonic solar panels, Solar Edge Inverter
    1 Duck called Hoppy Nine Lives. RIP Pingu
    2000ltr Rainwater harvesting system for loo flushing Hybrid Toyota Auris car

    Hens & ducks chat thread
    • Karmacat
    • By Karmacat 20th Jul 19, 8:55 AM
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    What a great result for all your hard work, Cheery - all of it, from the scything to the financial research to the MBing. I definitely think you deserved that cake and a whole lot more. Hope you've got something nice planned for your time off, but I bet you have a great time anyway.
    Downsized and paid off mortgage 2010
    Retired August 2016
    Paid off French mortgage September 2018
    New kitchen fully installed June 2019
    • greenbee
    • By greenbee 20th Jul 19, 9:43 AM
    • 13,318 Posts
    • 226,507 Thanks
    I think blitzing the house and garden is an admirable pre-visitor task greenbee! Hope you had a lovely time with your visitor
    Originally posted by Cheery Daff
    It was lovely thanks

    It was nice to cook properly (and have the space to do it ... although I did have to dig through boxes looking for my hand whisk!), and feels very odd to have a full fridge and a tidy house. It's actually as if I live here and not just come back to unpack/do laundry/repack.

    So I now need to bite the bullet on the outstanding work on the house and get into the habit of inviting people over a bit more often! And also start filling up the freezer again with ready meals for when I'm back travelling. I'm hoping it'll warm up again soon as I have lots of nice salad stuff to use up!

    Well done on the scything. I've got mine out and sharpened it, but I'm a little reluctant to use it (I only have a small patch to do). I also need to repair the hand sickle I use for clearing weed in the river, as oiling it means one of the rusted-in screws holding the blade on has come out so I need to find another one before I can use it again!

    Well done on the mortgage decision too. I found the maths quite frustrating, but I'm glad I fixed for 5 years this time as its worth it not to have to do the paperwork quite so frequently!
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