Hope is not an Effective Financial Strategy

Options
1…143144146148149…434

Comments

  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
    Name Dropper First Anniversary First Post
    Options
    Indeed may will be good. Not only a 2 brick month but also a 10k bracket smashed. Think we'll have a celebratory takeaway for that!!

    OCC we've got 1.99% which makes such a difference on interest. Hoping that Dec/Jan we can drop it another 0.5% too!
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
    Name Dropper First Anniversary First Post
    Options
    Here's some comparison data to 12 months ago. Very pleased with progress when you at this, especially the difference in monthly interest is very motivating!
    • Closing Balances - £133,892 // £121,050
    • Daily interest - £7.36 // £6.66
    • Monthly interest - £220.67 // £199.76
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
  • ourcornercottage
    ourcornercottage Posts: 1,526 Forumite
    Options
    shangaijimmy wrote: »
    Indeed may will be good. Not only a 2 brick month but also a 10k bracket smashed. Think we'll have a celebratory takeaway for that!!

    OCC we've got 1.99% which makes such a difference on interest. Hoping that Dec/Jan we can drop it another 0.5% too!

    That's a fab rate, we have 2/3 on a 5 year fix (1year in) at about 2.5% and the other 1/3 is on a lifetime tracker of 2.16% with the fees it isn't worth changing this for now as the amount saved is so small. I keep a check of the low fee or fee free options but nothing has come up that's worth changing for as yet.

    I'm currently OPing both a bit but the fixed rate one more as I am nowhere near the stage of getting to the annual limit, when I am I will switch concentration onto the smaller one. I'm a couple of years from that stage though :)

    In many ways having mortgage in 2 parts is handy as you can have part fixed part not but when looking for deals it results in 2 fees so that's not so great!

    I don't think we would get anything like these rates from other lenders being self employed and supposedly high risk :)
  • mrsp1987
    mrsp1987 Posts: 815 Forumite
    First Anniversary First Post Wedding Day Wonder Cashback Cashier
    Options
    shangaijimmy wrote: »
    Think we'll have a celebratory takeaway for that!!

    Careful! Don't want to be too frivolous :rotfl:
  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
    Name Dropper First Anniversary First Post
    Options
    Don't panic, shared meal with extra portion of rice/chips!
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
    Name Dropper First Anniversary First Post
    Options
    £1 TT'd first thing. I'll check on TSB accounts for interest later and looking forward to no tax being taken off!

    The weather has scuppered my patio grouting plans but on the other hand it's tested my guttering, which so far has passed!
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
  • hiddenshadow
    hiddenshadow Posts: 2,525 Forumite
    Options
    I don't think T$B will do interest until Wednesday, as it's midnight at the end of the first non-bank holiday/weekend of the month, which would be tomorrow night. Looking forward to seeing our gross interest as well!
  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
    Name Dropper First Anniversary First Post
    Options
    Damn banks! Bank holidays would be much better on a Friday too!
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
  • hiddenshadow
    hiddenshadow Posts: 2,525 Forumite
    Options
    shangaijimmy wrote: »
    Damn banks! Bank holidays would be much better on a Friday too!

    I agree - Friday off is so much nicer than Monday off.
  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
    Name Dropper First Anniversary First Post
    Options
    Well there's so little going on in SJ towers all I have to post is that I TT'd 12p this morning. Quite disappointed really as I was hoping to post some ground breaking, world changing info - ah well leave that for another day...!
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards