Nervous new diarist with not one but two mortgages to clear!

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  • Runders
    Runders Posts: 292 Forumite
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    Hi JennyP,

    Your bathroom that you are sprucing up sounds exactly the same as mine. I painted it, put in a new mirror and shelves, and I think it looks pretty decent. Okay, it's not a luxury re-model, but t is a clean, fresh and functioning bathroom. I just need to re-do the sealant around the bath etc. today.

    That's great news that you can pay off one BTL mortgage in August, I bet you are really looking forward to that!? My mortgage dipped into the under £90k territory this month and I am very pleased with that. Next target is the under £85k!
    MFW Start:[STRIKE] Sep 2014 - £110,844[/STRIKE], July 2019 New Home £190,995 :eek:
    Current: £82,999.69, £190,972.18, £188,091.57, £180,026.25
    2021MFW #97 OP Goal £296.36/£3000
    2020MFW #97 OP Goal £3104.09.09/£3000
    2019MFW #109 OP Goal £1024.99/£1000
  • JennyP
    JennyP Posts: 1,067 Forumite
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    Thanks Runders. Must admit I haven't even started doing it up yet - had a plumber round and have chosen taps but not had the quote for fitting and I need to get the shower checked as it's electric and has no isolator switch so is possibly dangerous.



    Spent a whole day yesterday looking at paint colours and tiles and all sorts of house stuff. We pretty much have a whole house to do as we bought a house we didn't much like inside (love the view!) Decided that if I keep to a colour scheme for the whole house of just six colours, all of which blend pretty well together, I can economise by buying less paint and the house will flow better too. So our bedroom will have a darkish blue feature wall and the house bathroom will have the same on all the walls (it's mostly got white tiles so some dark blue should be fine!)

    Making slow progress though as we need some work doing before I can decorate or get furniture and getting quotes from tradesmen is really difficult, let alone finding anyone half decent to do the work!



    Have done nothing recently re paying mortgages! Can't pay off the first till fixed rate ends and might not pay all of it as little sister is buying a house and is £25K short so I might see if I need to bale her out. Mum has helped me on numerous occasions so it feels only fair to pay it forward.



    Had a few bargains recently which feels good. Had loads of Tesco clubcard points so I used some to buy a Two Together railcard then converted the rest to RedSpottedHanky vouchers. We are effectively having a free trip to London this week: found a cheap new Travelodge which gets good reviews and is near to where I used to live in London so convenient for us and got opera tickets for Regents Park as a treat!



    Cooking a special, very non-budget meal for hubby today. He's veggie and when we eat out, always ends up with a fairly dismal meal. Restaurants don't do good veggie food unless they're specifically veggie and I always want to eat meat when we're out as I don't get much at home. So today trying to up my game in the cooking stakes and instead of doing one dish and then very boring sides of veggies and rice, am doing a veggie tagine with harissa couscous and a carrot and orange salad. Spent a fortune on ingredients, largely because I went to Sainsburys instead of Lidl as it was more convenient. Nearly fainted at the till!



    Can hear the Archers Omnibus calling so am going to go and start cooking whilst I listen! Happy Sunday!
  • FloppyDisk
    FloppyDisk Posts: 864 Forumite
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    JennyP wrote: »
    Have done nothing recently re paying mortgages!

    Glad I'm not the only one!!:p
    Mortgage Apr 18 £417,894 BTL Mar 18 £162,857
    Mortgage now -- £350,085 BTL now --- £162,668
  • daisy_1571
    daisy_1571 Posts: 1,209 Forumite
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    Hi JennyP

    I also was a good landlord for over 5 years, so there definitely is loads of us on here. Good luck with your plans although it sounds like they may be somewhat on hold- £25 k is quite some amount to be short by but nice that you are in a position to help and hopefully you will get on so quick with your 10 that you won't find it too hard to raise another 25. Since you will no longer be able to completely clear one mortgage does it make sense to concentrate what you can pay off on the mortgage with the higher interest rate ? Just a thought.

    Good luck with the bathrooms, its hard to rein in the temptation to get everything lovely but a pound can only be spent once so spending with intent is always better than gaily disregarding clever ways to shop and 'making do' and making the best of things. If you get fed up, just look at your beautiful views and that'l cheer you up:)

    Daisy xx
    2022: 3🏅 4⭐ 2023: 5🎖🏅🏅 🎖🏅6 ⭐⭐ ⭐ ⭐ ⭐ ⭐ ⭐ ⭐ Never save something for a special occasion. Every day in your life is a special occasion. Take hold of every moment - anon I'm a clutterbug butterfly 🦋 The difference between what you were yesterday and what you will be tomorrow is what you do today Well organised clutter is still clutter - Joshua Becker If you aren't already using something in your home, you won't start using it more by shoving it in a cupboard- AJMoney
  • JennyP
    JennyP Posts: 1,067 Forumite
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    Thanks Daisy. Have been doing a lot of looking at the beautiful views to cheer myself up. We cannot get tradesmen to come and do things - people come and look but never send the quote through. Apparently there's a huge shortage of skilled labour. I am avoiding mentioning the B word as I don't want to open a political can of worms on this thread.
    Am going yo ask my neighbour to help me replace taps in the bathroom and then I can fit a new bath panel and paint the walls and it'll be fine.
    One mortgage is fixed and has stiff penalties if I pay earlier.
    If my sister sorts her mortgage offer, I can still pay one off. Three weeks on Tuesday my fixed rate ends so I can go for it the day after. Exciting stuff!
    Have listed a load more stuff on eBay but noone seems interested. It's disheartening. Ah well!
  • newgirly
    newgirly Posts: 8,942 Forumite
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    Hi, I've just read your dairy and wanted to wish you all the best :)
    2022 MFW 67 - 33 month challenge to clear mortgage, month 17 completed and and extra 2 knocked off 🙂MFI3 No.12
  • Runders
    Runders Posts: 292 Forumite
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    JennyP wrote: »
    Have listed a load more stuff on eBay but noone seems interested. It's disheartening. Ah well!
    Hey JennyP,
    Have you had any luck with fitting the new taps yet? Re your comment above, I've kind of given up on ebaying things. I just found the effort of listing, the postage, all the fees wasn't worth my time personally. I still list house stuff on Gumtree , e.g. I just sold a mirror on there, but the smaller items etc. I just take to my local charity shop. That way they benefit, and I benefit from the items being instantly gone from my home. Not very MSE I know, but I have found it works better for me this way.
    MFW Start:[STRIKE] Sep 2014 - £110,844[/STRIKE], July 2019 New Home £190,995 :eek:
    Current: £82,999.69, £190,972.18, £188,091.57, £180,026.25
    2021MFW #97 OP Goal £296.36/£3000
    2020MFW #97 OP Goal £3104.09.09/£3000
    2019MFW #109 OP Goal £1024.99/£1000
  • JennyP
    JennyP Posts: 1,067 Forumite
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    Thanks for reading, Newgirly. I feel my thread has been resurrected in recent days which is lovely!



    Runders, no, done nothing about the taps. Chosen them! Might pop round to my neighbour's today and ask if he'll help. I bought a new toilet seat from Wilko though! That's a start! And blput some tester colours on the wall. On the one hand, I think testers are a big waste of money. On the other, think they've saved us an expensive mistake as both the grey and the blue tglhat I tried look awful!!!



    Runders, you're right about eBay. I gave up partway through my listings at the weekend and took a heap of stuff to oxfam. It feels nicer somehow. But there are some things that they probably wouldn't sell eg wallpaper rolls. And then there's the nearly new pairs of shoes that I spent far too much on and would like a bit of money back. Having said that, maybe it's the heat but very little interest in my stuff.



    Trying to get furniture sorted for this house. We were living on the boat befire this so have very little actual furniture. Husband paying and he's got more money than me. Still want to be frugal in the sense if making wise investments that will last us. Got my enormous sofa back from being stored at a mate's. It was £800 twenty years ago in the john lewis sale. Was hoping for a similar bargain in either John lewis or next but found nothing yesterday. Off to a furniture outlet on Friday and if there's nothing there, I'll buy an IKEA ektorp but get a custom made cover. I think that'll be a cheap option and their ektorp range are cheap but last quite well.



    It's exciting buying furniture. Had put it off hoping to get the work done on the house first but we're getting nowhere with that!
  • JennyP
    JennyP Posts: 1,067 Forumite
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    Hurray! Cleared one mortgage yesterday using my boat money. A whopping £49,977 paid off.



    The other mortgage is down at about £29k.



    Every month my current account dips a couple of hundred into the red (authorised overdraft) then comes up to the black as money comes in. This has happened for years (badly timed direct debits). Could have sorted it by paying in a buffer but I would have spent that so I didn't. Anyway, by October, that will no longer happen thanks to one less btl mortgage payment!!!!



    So happy!



    Got to save to clear the £29k one now by end march 2022.



    Disappointing eBay last month. Had lovely clothes and shoes on but no takers so oxfam benefited.



    I did get over £100 for a piece of camera equipment I no longer used so that was good!



    Got some rolls of wallpaper to sell that I bought years ago for another house.



    Best news is we are finally starting on our house after three frustrating months of not being able to get decent tradesmen. A friend came and started building a wall for us yesterday and suddenly two quotes came in from builders and two plumbers said they could come and quote. Happy days!
  • julicorn
    julicorn Posts: 2,283 Forumite
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    That's incredible, well done for paying off one of your mortgages! :j And great to hear you're finally making progress on your house as well. :)
    Original mortgage: December 2017, £203,495
    MFW start: April 2018, £201,800
    Mortgage neutral: September 2022, mortgage redeemed: December 2022
    New house, new mortgage: December 2022, £276,007
    Current balance: £217,800 minus £8,300 overpayment savings pot
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