A way to pay! Clear this mortgage before 30 years!

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  • JWPopps
    JWPopps Posts: 341 Forumite
    Once you've got the roof sorted you'll probably notice a huge difference - I know I did! The damp I originally had has left a massive horrible stain on my bedroom wall, but it's totally dry now and I will do a bit of a neaten up of the decor this coming year... at some point... when I've had laminate flooring put down in the living room (honestly, WHO thought a white carpet in a room with an open fire that comes straight in off the street was a good idea? Not me, that's for damn sure...)

    Looks like you're doing really well - and I've figured out how to subscribe to this thread now :)
    Mortgage: £83,000
    Credit Card Debt: £1,700
    Loan Debt: £3,000


  • obay
    obay Posts: 570 Forumite
    JWPopps wrote: »
    Once you've got the roof sorted you'll probably notice a huge difference - I know I did! The damp I originally had has left a massive horrible stain on my bedroom wall, but it's totally dry now and I will do a bit of a neaten up of the decor this coming year... at some point... when I've had laminate flooring put down in the living room (honestly, WHO thought a white carpet in a room with an open fire that comes straight in off the street was a good idea? Not me, that's for damn sure...)

    Looks like you're doing really well - and I've figured out how to subscribe to this thread now :)

    The house is noticeably warmer now, so I am hoping the damp has been sorted, looks like I might have to get new window panes which is a pain really.. That should stop the cold getting in also. Double glazed but only around 10-15m thick unfortunately.
    [STRIKE]1/12/16 - £152,599.00 [/STRIKE]
    [STRIKE]11/11/17 - £145,990.00 [/STRIKE] <> Overpaid £3916.
    11/11/18 - £142,074.00
    Barclays Car (5.99%)£0/£8,832.37
  • JWPopps
    JWPopps Posts: 341 Forumite
    Ugh that's a pain. I found out soon after moving in that my (ground floor) bathroom window was made of plastic... luckily that didn't cost too much to get replaced ha...

    Hope it's all going well!!
    Mortgage: £83,000
    Credit Card Debt: £1,700
    Loan Debt: £3,000


  • armchaireconomist
    armchaireconomist Posts: 370 Forumite
    Hey! I'm with you on being a "freehold snob", why on earth would I spend hundreds of thousands on a house that I don't even own the land it's sat on? Most new builds are like this now. Madness.
  • obay
    obay Posts: 570 Forumite
    edited 21 December 2016 at 4:39PM
    armchaireconomist wrote: »
    Hey! I'm with you on being a "freehold snob", why on earth would I spend hundreds of thousands on a house that I don't even own the land it's sat on? Most new builds are like this now. Madness.

    Exactly! If I can explain this to my better halfs family, I'd be on to a winner, but obviously, I'm just a snob. :)

    Alright, so not much to report in on the last few days, I am kind of manic depressed at the moment for some reason, I don't know if it's just Christmas or feeling under valued - Is anyone a doctor here?

    So, on to the mortgage payment stuff; I've done £110 extra this morning to bring the balance that I have paid to £1000 as an OP and £1209.03 as just a one off standard payment (as I moved in on the 11th).

    That means, my new balance should show the following;

    I started off with £152,599.00 in November I am now at £150,489.00
    £584.87 interest payment this month
    £26.05 in saved interest
    My daily interest is; £19.50 which is a saving of £0.87/day - nearly an entire nugget!
    85.17% LTV when I first started off as come down to; 84.54% which I now have 0.63% more ownership then I moved in November.

    It also means that I am looking to pay off £6,000 of the capital this year I am only £4,999.03 left to pay to it - So pretty much paid for two months in one here - because I know january is going to be a pain becasue of self assessment tax paying, etc..

    I want to get the balance down to £149,830 so that I can say I own an entire 1% more then I did the last month!

    Which, in an ideal world, would mean I pay a further £659 to the mortgage, although with the added bonus of the interest, it'll take sometime..

    I just can't wait to see that interest being applied now to see what has happened to it... going to be fun trying to get down to that £150k mark.. lol
    [STRIKE]1/12/16 - £152,599.00 [/STRIKE]
    [STRIKE]11/11/17 - £145,990.00 [/STRIKE] <> Overpaid £3916.
    11/11/18 - £142,074.00
    Barclays Car (5.99%)£0/£8,832.37
  • lippy1923
    lippy1923 Posts: 1,374 Forumite
    First Anniversary First Post Combo Breaker
    Not far off the £150k mark :)
    Total Mortgage OP £61,000
    Outstanding Mortgage £27,971
    Emergency Fund £62,100
    I AM NOW MORTGAGE NEUTRAL!!!! <<Sep-20>>

  • obay
    obay Posts: 570 Forumite
    Would this mean; with the figure of £150,489.00 and my normal monthly payment of £804.33, with the added interest of £584.87, and my capital repayment of £219.46

    Would this mean my figure will go to £150,708.46 or £150,269.54?

    So I can prepare my self any maths guy's here! :)
    [STRIKE]1/12/16 - £152,599.00 [/STRIKE]
    [STRIKE]11/11/17 - £145,990.00 [/STRIKE] <> Overpaid £3916.
    11/11/18 - £142,074.00
    Barclays Car (5.99%)£0/£8,832.37
  • obay
    obay Posts: 570 Forumite
    obay wrote: »
    Would this mean; with the figure of £150,489.00 and my normal monthly payment of £804.33, with the added interest of £584.87, and my capital repayment of £219.46

    Would this mean my figure will go to £150,708.46 or £150,269.54?

    So I can prepare my self any maths guy's here! :)

    anyone got any thought on this? I do think it'll decrease but I don't want to set my self up for disappointment...
    [STRIKE]1/12/16 - £152,599.00 [/STRIKE]
    [STRIKE]11/11/17 - £145,990.00 [/STRIKE] <> Overpaid £3916.
    11/11/18 - £142,074.00
    Barclays Car (5.99%)£0/£8,832.37
  • kirtsypoos
    kirtsypoos Posts: 3,824 Forumite
    First Anniversary First Post Combo Breaker Cashback Cashier
    I make it £150,269.54 Obay :)
    :j PAID VERY, Barclaycard x3, Vanquis, Natwest, O/D, Tesco & MBNA x2 PAID :j LBM 24/07/15 - Original Debt: £0/31010.23 (100% paid) :eek:
    Mortgage - £151.316.54 :eek:
  • obay
    obay Posts: 570 Forumite
    kirtsypoos wrote: »
    I make it £150,269.54 Obay :)

    Thank you, I didn't want to set my self up for disappointment, once my payment goes through I'll work to clear £269.54 from the mortgage.
    [STRIKE]1/12/16 - £152,599.00 [/STRIKE]
    [STRIKE]11/11/17 - £145,990.00 [/STRIKE] <> Overpaid £3916.
    11/11/18 - £142,074.00
    Barclays Car (5.99%)£0/£8,832.37
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