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  • FIRST POST
    • ajmoney
    • By ajmoney 5th Aug 16, 10:50 AM
    • 5,199Posts
    • 57,132Thanks
    ajmoney
    Project Mortgage Neutral Begins
    • #1
    • 5th Aug 16, 10:50 AM
    Project Mortgage Neutral Begins 5th Aug 16 at 10:50 AM
    Hi. We have just remortgaged on our larger product and while mortgage freedom is still the ultimate goal I am working on the smaller challenge of mortgage neutral first.

    We have a smaller mortgage that we transferred when we moved 5 years ago and a larger mortgage that topped it up.

    Mortgage 1

    Total 32097.21
    Interest 2.68%
    Redemption Date Februray 2030
    This is a tracker mortgage, we are not tied into anything but the deal is so good that unless things change substantially I don't intend to change this.

    Mortgage 2

    Total 103615.51
    Interest 1.74%
    Redemption Date February 2030
    This a tracker mortgage too with the current deal ending in August 2018.

    First and foremost I want to get rid of the larger mortgage even though it has the lower interest rate as it is the biggest debt and is the one product we have that could be a struggle if we ever got stupid interest rates.

    We are due to hit mortgage neutral in July 2021. This is worked out with all our mortgage rates staying the same and not receiving any interest on our savings. I am hoping the fluctuations in these will even each other out.

    While Mr AJM is happy to reach mortgage neutral, mortgage free and therefore retire early this a solo journey with it all being my effort. We haven't changed our lifestyle at all so there are always other things we can do but this is not so important to us at the moment.

    I will add more as the next few days go by. Recently I have been guilty of ignoring my thread but I am hoping starting a new thread will get me on here a little bit more.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
Page 22
    • A Frayed Knot
    • By A Frayed Knot 20th Mar 19, 7:27 PM
    • 2,943 Posts
    • 13,081 Thanks
    A Frayed Knot
    I plan to drive passed the house to maybe see a sold sign on the house tomorrow
    Originally posted by ajmoney
    Why wait . . . Hopefully this will bring a smile and elate your spirits

    http://www.rightmove.co.uk/property-for-sale/property-73979603.html

    see the signs
    Last edited by A Frayed Knot; 20-03-2019 at 7:37 PM.
    Always have 00.00 at the end of your mortgage and one day it will all be 0's
    MF March 2030 Mortgage Free 21.12.18 Now a Part Timer from 27.10.19
    MF March 2030Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • ajmoney
    • By ajmoney 20th Mar 19, 8:04 PM
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    • 57,132 Thanks
    ajmoney
    I have already seen this, Mr AJM and I kept checking until it changed yesterday, he is rather frustrated his still says under offer it is more I would like to see it outside the house!
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • A Frayed Knot
    • By A Frayed Knot 20th Mar 19, 8:18 PM
    • 2,943 Posts
    • 13,081 Thanks
    A Frayed Knot
    Has Mr AJM bought a house as well?

    Sorry I may have missed something as have been out of touch in events
    Always have 00.00 at the end of your mortgage and one day it will all be 0's
    MF March 2030 Mortgage Free 21.12.18 Now a Part Timer from 27.10.19
    MF March 2030Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • ajmoney
    • By ajmoney 20th Mar 19, 8:35 PM
    • 5,199 Posts
    • 57,132 Thanks
    ajmoney
    Yes, we separated in October, it is a very bizarre situation as it is amicable and we still both live in the house. We are selling the house, splitting the proceeds and buying our own properties. The place he is buying is beautiful, we have gone for extremes from each other.


    I have wondered today whether if I had spoken up sooner about how unhappy I was with the way we were whether we would still be together now, we are talking more than ever and I have a very good friend in him. I have realised how different we are and that we both want different things though. However I don't think I realised until it was too late. I am sure it probably won't always remain this amicable but I am happy with how it is at the moment.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • A Frayed Knot
    • By A Frayed Knot 20th Mar 19, 9:40 PM
    • 2,943 Posts
    • 13,081 Thanks
    A Frayed Knot
    Yeah, but thought Mr AJM lost out with his house.

    Seems a shame, your getting on better and talking more than ever. However so glad to hear you have a good friend in him.
    Always have 00.00 at the end of your mortgage and one day it will all be 0's
    MF March 2030 Mortgage Free 21.12.18 Now a Part Timer from 27.10.19
    MF March 2030Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • ajmoney
    • By ajmoney 20th Mar 19, 9:42 PM
    • 5,199 Posts
    • 57,132 Thanks
    ajmoney
    Yeah, but thought Mr AJM lost out with his house.

    Seems a shame, your getting on better and talking more than ever. However so glad to hear you have a good friend in him.
    Originally posted by A Frayed Knot
    He did but he put in an offer on his second choice and got it. In hindsight it seems the better option.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • A Frayed Knot
    • By A Frayed Knot 20th Mar 19, 10:02 PM
    • 2,943 Posts
    • 13,081 Thanks
    A Frayed Knot
    That's the bit I missed

    All up to date now, I think.
    Always have 00.00 at the end of your mortgage and one day it will all be 0's
    MF March 2030 Mortgage Free 21.12.18 Now a Part Timer from 27.10.19
    MF March 2030Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • ajmoney
    • By ajmoney 20th Mar 19, 10:16 PM
    • 5,199 Posts
    • 57,132 Thanks
    ajmoney
    He has secured this beauty https://www.mcewanfraserlegal.co.uk/properties/town_kirkcaldy/hendry-hall-40-kirk-wynd-kirkcaldy-fife/134990

    I am guessing a sold sign might have gone up as a guy who lives 6 doors along that I met at the running club has just got in touch to ask if my offer was accepted.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • ajmoney
    • By ajmoney 21st Mar 19, 10:17 AM
    • 5,199 Posts
    • 57,132 Thanks
    ajmoney
    I am increasing my mortgage term from 10 years 11 months to 22 years but my challenge will be to clear within the original term. I will have 3 mortgages as I am keeping my current ones and the first goal will be to clear the new one within the 2 year tracker. I am looking forward to playing with the figures once they are live. I should hopefully have a few thousand from the sale to start decorating straight away...or pay straight off the mortgage. I couldn't guarantee how much our fees were going to be so have put forward a slightly smaller deposit.
    It is all very exciting.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • ajmoney
    • By ajmoney 22nd Mar 19, 6:01 AM
    • 5,199 Posts
    • 57,132 Thanks
    ajmoney
    So many changes and unsettling things happening in my personal life and a few big things coming up at work are certainly affecting my sleep pattern. Hopefully I can join up the work dots quickly this morning (if I don't I could be in a little trouble) so I can go for a swim and try and relax a little. There is one task left to do but I will endeavour to get that done over the weekend.

    I have someone coming round to give me a life insurance quote this afternoon, if I have time I am going to try and find out how much my current one will be with the changes to my mortgage and circumstances. I got a very good quote from the bank yesterday so it will be good to compare, it turns out taking Mr AJM off the policy saves me a lot of money.
    I am off out with some of Mr AJMs family for dinner tonight. A little strange to be invited considering our separation but they have seen how well we are currently still getting on hence the invite. It is certainly not a normal situation. If I get all these things done today I hope it means I will enjoy tonight a little more and be able to sleep better tonight.
    Roll on the end of next week when my work load should decrease a little...or at least the stress that goes with it. I can't survive on this little sleep and quality of sleep for much longer!!!
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • ajmoney
    • By ajmoney 22nd Mar 19, 3:40 PM
    • 5,199 Posts
    • 57,132 Thanks
    ajmoney
    I managed to achieve most things although it took longer than expected so I didn't have time for a swim, I have done some relaxing yoga instead. My out of office is on for while I am away and I have delegated some of my tasks so in theory I should be able to leave a little earlier each day when I get back from my work trip.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • ajmoney
    • By ajmoney 23rd Mar 19, 7:04 AM
    • 5,199 Posts
    • 57,132 Thanks
    ajmoney
    Probably getting too far ahead of myself but wondering if I can be mortgage free by the time I am 50. I had never planned for it to take that long but now I am going it alone I need to be sensible. It will be tough to get rid of my new mortgage in the 2 year term but I think it could be achieved looking at my spare money a month. I have started playing around with the overpayment calculators but haven't done the overall calculations, trying to wait until I am in the house for that. The biggest factor will be my career change, this is currently in 3 and a half years time but hopefully I will be extended.

    Last night's dinner was so lovely, I will miss being part of those but I am going to try and make the effort to stay in touch with his nieces, especially the older one as we get on really well.

    Parkrun this morning, I need to pack to go away, get a bike rack fitted to my car and try and get out on my bike. I have a swimathon in 8 days and I haven't been in the pool for 2 months, it will be tough but I like a challenge!
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • ajmoney
    • By ajmoney 23rd Mar 19, 8:02 AM
    • 5,199 Posts
    • 57,132 Thanks
    ajmoney
    200 a month OP and a one off payment of 3000 when my regular saver matures each year means I would get rid of my new mortgage in 21 months instead of 24 and should still leave 180 a month unaccounted for. Still refraining from playing with the other mortgage figures!
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • ajmoney
    • By ajmoney 23rd Mar 19, 3:26 PM
    • 5,199 Posts
    • 57,132 Thanks
    ajmoney
    Energy bills
    We have a 60 early exit fee on our energy tariff which only starts at the end of this month, we thought it would be easier to switch to something although in hindsight this might have been the wrong decision. According to uswitch I could save 160 a year when I move to the new property by going with a new provider, is this a no brainer...the options as I see it are:
    1. switch and pay the early fee but save money overall
    2. take the tariff across and just change the address
    3. see if we are tied into this seeing as it hasn't started yet and pay the standard variable rate for a month and then set a better deal in the new house.


    TV, phone, broadband
    What are people's experiences with virg!n? I am contemplating ditching $ky and going to them instead.


    I think that is it for now.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • A Frayed Knot
    • By A Frayed Knot 23rd Mar 19, 8:02 PM
    • 2,943 Posts
    • 13,081 Thanks
    A Frayed Knot
    Energy Bills - Be careful there, think you can cancel within a 14 day period, unless like mine, they took around 7-8 weeks to tell me that my monthly DD would be 57% MORE - what the ** and of course - too late to cancel, I am actually staying with the same energy co, just going on to their lowest tariff instead of their highest and this is how I am repaid

    If your happy I would take the tariff over.

    Virg!n - heard good reports with them - although i'm sure skY have a bartering system for keeping your custom. Although if your a new customer you may get a good deal with TCB.

    Oh, and btw Mr AJM's new purchase has the WOW factor love it.
    Always have 00.00 at the end of your mortgage and one day it will all be 0's
    MF March 2030 Mortgage Free 21.12.18 Now a Part Timer from 27.10.19
    MF March 2030Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • ajmoney
    • By ajmoney 29th Mar 19, 9:19 PM
    • 5,199 Posts
    • 57,132 Thanks
    ajmoney
    I have just sent this email to Sky


    Are you kidding? Apparently your waiting time is 20 minutes but no one answered in 1 hour, 10 minutes and 32 seconds when I gave up because apparently that is when you close. Very poor customer service Sky and that is why I will be telling you I am leaving...if you answer the phone!


    after waiting for far longer than is acceptable to try and cancel my contract...I wonder why I might be doing that. I have already had to give up twice this week as I had other things to do and couldn't stay on the phone, I had waited this long on the other occasions. Now I need to do it all again tomorrow
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • ajmoney
    • By ajmoney 31st Mar 19, 7:36 PM
    • 5,199 Posts
    • 57,132 Thanks
    ajmoney
    I got an 11 min 30 sec PB on my 5k swim time today not sure I will beat that for a while. Hopefully it will kick start my love of exercise again, I'm determined to make the most of the clock change.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • ajmoney
    • By ajmoney 1st Apr 19, 8:26 AM
    • 5,199 Posts
    • 57,132 Thanks
    ajmoney
    That's the last money shuffle done in this house. The next few weeks are going to be a series of "lasts", it is certainly a very strange feeling. I'm sure it would be a lot easier if we didn't get on.


    I have my new outgoings spreadsheet ready for next month. My MFW2019 will stay the same and get increased when I work out what an achievable amount to OP is. I am not sure how to use the MFiT-T5, probably restart it is the best option.


    I have got today off, a weekday where I don't need to go into work or catch up on anything which is a rarity so I am making the most of it.
    Get roof bars fitted to car
    Run around local loch
    Attempt to ring $ky again
    Tell our current life insurance to get on their bike with my recent quote
    Swim training tonight for the first time in 2 months
    Batch cook our meals for this week


    That should be enough to keep me busy!
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • ajmoney
    • By ajmoney 1st Apr 19, 3:54 PM
    • 5,199 Posts
    • 57,132 Thanks
    ajmoney
    Slowly getting there, staying with $ky after they pulled something out of the bag, I will be paying slightly more a month than I had anticipated (a lot less than we are currently paying) but for now I appear to be getting a better deal. I will be without phone and broadband for the first weekend and no idea what date the tv will get sorted yet but they are going to call me in the next couple of days to confirm.


    Removals are coming round tomorrow to quote moving our stuff, hopefully we can get the boxes by the weekend and then we can start packing once our final clean has been done next Tuesday. A few things still to cancel and move but I am sure I will get there eventually.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
    • ajmoney
    • By ajmoney 2nd Apr 19, 5:06 PM
    • 5,199 Posts
    • 57,132 Thanks
    ajmoney
    N@tionwide 5% account to be axed at the end of the week that was how I was going to pay lump sums to my extra mortgage and get rid of it within two years. I will be able to do that when it matures next year but will have to come up with another plan after that.
    2019 MFW No. 70 4211.74/4000
    MFiT-T5 No. 70 3303.31/27506.08
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