Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

    • f0xh0les
    • By f0xh0les 12th Aug 16, 1:55 PM
    • 1,807Posts
    • 15,386Thanks
    22 Foxhole East
    • #1
    • 12th Aug 16, 1:55 PM
    22 Foxhole East 12th Aug 16 at 1:55 PM
    I just made my first mortgage overpayment.

    We bought a 5 bed Victorian terraced house in the East Midlands in April 16 that has been badly neglected. It needs everything doing, it has been let out on a room by room basis and used as a rental machine. Now it is our family house (4 kids = one bedroom each!!).

    So far I have replaced 2 Velux on the attic floor so the rain stays on the outside (very rotten frames)

    Have had a full electrical rewire as the wiring was underneath the wallpaper - not boxed or chased in, just behind the wallpaper and skirting boards. Got a shiny certificate and everything now!

    Decorated 4 kids bedrooms and put down new carpets in 3 of them

    On the still to do list for this year

    - new roof and insulation - nails degrading! Snow could cause a huge problem. Better get it sorted really.

    - New shower and bathroom flooring - water damage, holes in floors (!) we should have moved the bath mats when we were viewing, they hid a lot of damage.

    Plastering and decorating.

    Nice carpets!!


    That will be the two top floors done and I can kid myself I am 2/3rds of the way finished

    Not attempting anything on the ground floor until 2017 - so no talk of log burners,knocking down walls, kitchens, damp proof courses, shower rooms or the like. That way lies madness, shhhhh, next year, at some point...

    So, let's talk money.
    House cost 160,000
    Deposit was 41,315 (sale of previous nasty Manchester Foxhole)
    Amount borrowed 118,685

    We got a 1.94 % fixed for 2 years with Accord which rises to something ridiculous like 7% so remortgage time in 2018

    We will repay 1.82 for every 1 borrowed over the 26.5 year life of the mortgage unless I overpay

    I have just rung Accord, found out I can repay up to 10% of the total amount borrowed (each year without penalty), can make as many overpayments as I like per month without penalty, but cannot check on the balance online. I have to ring up a silly automated 0345 number that will tell me what the balance is! I will have to remember to ring it on my mobile so it is free.

    Monthly Mortgage repayment 467.00
    An overpayment of 200 a month would knock 10.5 years off the life of the mortgage.

    We are planning on spending 5 years living here, and them moving elsewhere due to the nature of DH's work. So, lets see how much I can throw at this mortgage.
    MFW START DATE May 16 118,340 : Oct17 - 109,495.00Dec17 108,800Jan 18 108,392.98 March 18 108,504.72April 108,099May 106,999June 105,999.99July 105,300.00
    Aug 103,999.99
    Sep 102,999.99 October 101,999.99
    NEXT GOAL is sub 100k before 2019Mortgage-free wannabe 2018 #65
Page 51
    • the cross rabbit
    • By the cross rabbit 19th Oct 18, 10:58 PM
    • 117 Posts
    • 561 Thanks
    the cross rabbit
    Cheer leading and waving pom-poms from the sidelines
    Mortgage 82,000, due to end July 2036. OP by 50 a month,due to finish Dec 2034 still
    • f0xh0les
    • By f0xh0les 22nd Oct 18, 9:37 PM
    • 1,807 Posts
    • 15,386 Thanks
    Well, happily that sack of monkeys is over for another year.


    I find myself in receipt of 5 extremely large boxes of apples. Some eaters, some cookers. I obviously need some inspiration. I love a passive agressive gift, don't you?

    I went wild this morning, dropped the kids at school, rushed home, cleaned and hoovered all the top floor and middle floor bedrooms, reordered all the kids clothes drawers, cleaned 2 loos and one bathroom, cleaned and hoovered the living room and cleared all the carp from the hall.

    If nothing else, the visitors made me take a long hard look at how we use the rooms in our house, and made me think of solutions to the bits that are not working. I still think they are nuts. I am a bit worried about m-i-l's mental capacity after having played scrabble with them, I think she was shocked at how rubbish she was.

    DH bravely and manfully ran away every day Monday - Friday at 8.30am before they got here at 9.20am, and he returned at 5pm, when we then ate, and the visitors stayed until 10.30pm. DH hid behind his laptop.The kids (ratbags) mostly ran off and hid in their rooms , all except one, who wanted wall to wall movies or board games. At least one did not abandon me to my fate. M-i-l tried to bully DS1 into going somewhere and doing something he is not ready to do. I hate it when she pulls emotional blackmail nonsense on the kids. It is why her kids live in different countries to her. She is her own worst enemy.

    Anyway, they are now gone. Hooray!

    There is a nip in the air, the clocks go back in a little over a week. It is dark until nealy 7.30 am, it is AUTUMN!!

    I am allowing DH to put the heating on for an hour if he is cold from now on. I might have to set the timer for the central heating soon. It is supposed to be cooling down from now on.

    S&M sent me a free voucher for a 7.50 candle, so I have ordered that to be picked up tomorrow along with DS1's new blazer, which will turn into DS2's new blazer in 7 months when he leaves school uniform behind him forever!
    Cashback + voucher for double sparks points + credit card points bundle.
    Waitross and Tessco have both sent me spend XX get xx off vouchers.
    Morries have sent me a spend 40 get 4000 points voucher.

    I have asked the kids to each write a list of ten things that mean Christmas to them.
    So far I only have one back, and DS4 misunderstood and wrote a Christmas ransom demand instead.

    The cleaning, clearing and ordering of the ground floor will continue tomorrow. I have screwed 13 coat hooks to a spare skirting board and will mount it on the wall in the kitchen corridor - I need more space for hanging indoor PE kits/ Outdoor PE kids/Swim kits/ Blazers and School bags, along with all the coats etc. This should free up the space in the hall to mount DHs bike on the wall in the main hall so that it is up out of the way.

    I am feeling quite on top of things.
    Mind you, with the next mortgage overpayment I should be sub 101k which is mindblowingly exciting if you are me.
    Inching ever closer to being on 99k.

    Massively long term from now til Xmas - 9 weeks. I have paid for after school clubs for the primary kids, will wait for ransom demands for Xmas productions and trips for the older two. There is always something that comes up to blindside me, that is what the cc is for.
    MFW START DATE May 16 118,340 : Oct17 - 109,495.00Dec17 108,800Jan 18 108,392.98 March 18 108,504.72April 108,099May 106,999June 105,999.99July 105,300.00
    Aug 103,999.99
    Sep 102,999.99 October 101,999.99
    NEXT GOAL is sub 100k before 2019Mortgage-free wannabe 2018 #65
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,875Posts Today

10,269Users online

Martin's Twitter