Getting a mortgage and then becoming mortgage-free!
Comments
-
It is indeed NewGirly!
Ive now read through all of the paperwork and they have provided the offer and have valued our home at £202k (12005 more than we paid )
Our Mortgage sits at £161,500 so we hit the LTV for the 1.64% hurray! There is an option to switch to the new deal ASAP (as theres now less than 3 months until it ends) so we will sign in the morning and get it posted off, hopefully meaning we can benefit from the lower rate from March onwards
In other news our friends who have bought on our development have put their house up for sale last Friday- asking price £215k and it has sold (I darent ask if they got full asking price) but thats very exciting for them. They want a bigger home as planning for kiddies. Will be sad for them to leave as its nice having someone we know on the estate
IVe not really read any diaries in the last week or so, so Im going to go and have a read and catch up with other mfwersFirst home- Oct’16 until June’21: £170.995- Overpayments made £13,784 (25% extra!).
New forever home- Sep’21 £309,449 @ 2.05%. Plan to clear it before 30 years!!!!!!0 -
Is anyone else finding their apostrophes are being turned into gobbledegook on here at the moment- have to keep editing my posts!
Anyways, lovely day today started with some fresh coffee (bought using Shopmium and tastes delicious) with our daffodils starting to open. Cleaned up some more of the house so now the kitchen floors is all moped and buffed so looking lovely. Made a delicious brunch of Columbian eggs (Ive seen it called shashuka before too) with a toasted mini wrap. We then went to the almost deserted gym where I smashed a 7km run gf did a 6km which is uber impressive as shes never really liked running and has only just pushed it up recently.
Popped to aldi for some eggs, flour and turkey sausages as we are making a BBC Good Food low fat toad in the hole recipe for dinner with the brocolli & carrots that are a little bendy in the fridge!
Currently snuggled in the sofa with a blanket and Hugo watching pirates of the Caribbean. What a perfect Sunday.
Little OP of £5.37 to tilly tidy the joint bills act this morning and another of £3.96 after Aldi- to try and keep some movement on the mortgage- little by little, inch by inch we will get there!First home- Oct’16 until June’21: £170.995- Overpayments made £13,784 (25% extra!).
New forever home- Sep’21 £309,449 @ 2.05%. Plan to clear it before 30 years!!!!!!0 -
Kittenkirst wrote: »Is anyone else finding their apostrophes are being turned into gobbledegook on here at the moment- have to keep editing my posts!
Not quite apostrophes, but strange going ons.
First I was thrown off MFW said my password was 977 days old and had to change it ???then couldn't /still can't get onto one of my bank accounts
then tried to quote your last post - and it came up with about 4 of your posts ???
and checked my mortgage balance - I have mortgage plus 1 sub account and they don't tally up :eek:
but in my favour of around £1.50 (ish) I'm sure they will correct that as soon as.Always have 00.00 at the end of your mortgage and one day it will all be 0's :dance:MF[STRIKE] March 2030[/STRIKE] Yes that does say 2030 :eek: Mortgage Free 21.12.18 _party_Now a Part Timer from 27.10.190 -
Well done on the huge drop in interest, that's amazing! Are you going to do as I did and keep the mortgage payment the same so that it overpays the additional interest you have been paying?Mortgage: Mar 2018 -£300,000 / Jul 2021 -£255,000
Student Loan: March 2011 -£18,275.04 / Jul 2021 -£10,425.28
Joint Savings: Aim £13.5k. Dec 2016 £1,700 / Jul 2021 £36,600
Loan to In-Laws: Sep 2010 -£48,185.82 / Apr 2019 £0
Car Loan: Sep 2018 -£16,265 / Apr 2019 £0
Credit Card 0%: Nov 2016 -£4,500 / Apr 2019 £00 -
HI Charley, yes we plan to from April onwards with a two month break sept/October for whilst we are away.
We are going to wait until April as that gives us two pay days to reduce gfs credit card and for me to pay for my share of the flights- we!!!8217;ll pay our council tax as an OP and make a token payment (like £90) each month still until April.
Paperwork is signed and in the post- yay! So very very pleased.First home- Oct’16 until June’21: £170.995- Overpayments made £13,784 (25% extra!).
New forever home- Sep’21 £309,449 @ 2.05%. Plan to clear it before 30 years!!!!!!0 -
Kittenkirst wrote: »It is indeed NewGirly!
Ive now read through all of the paperwork and they have provided the offer and have valued our home at £202k (12005 more than we paid )
Hi KK
Just attempting to catch up on your diary!
For the remortgage, did you get a valuation done, go with your own estimated valuation, or did bank just go off the index valuation?
I really need to start thinking ahead to our remortgage around June time so need to look in to how it works. As you know we've had to do a lot of work so I'm thinking the process will be different for us due to the increased value... We paid £188k in August 2016, ours is now up to standard of next door (better in my opinion :rotfl:) and theirs was valued at £280k around September.
We had planned to take out most of the equity to fund extension but I'm having second thoughts now (don't think I've got the energy for another project for the time being) so may just remortgage for a year.
Our mortgage should be around £160k in June, and providing valuation is at least £260k, two year fix is 1.59% with the Coventry. Haven't checked rates anywhere else yet. We are currently on 2.45% but that shoots up to a huge 4.99% unless we remortgageStarting Balance August 2016: £170,199.00 | Remortgaged August 2018: £212,000.00
Current Balance (15th February 2019): £209,278.85 :eek:
Target: Balance below £170,000.00 by August 20230 -
Hey MichaelDH
So when I completed the online request for the new deal I put in the house value of £210k. This was based on zoopla showing £215k and our friends house going on the market at £215k and me being cautious rounded down to £210k.
When the Mortgage offer paperwork came through it said £202k so I assume they!lve used something else to value it. Luckily we didnt have to pay for the valuation!
Small op of £3 made today as Pinecone survey credit cleared
Payday is tomorrow so we will shuffle our funds. An OP of £130 for the council tax free month will go tomorrow, alongside our rounding up of £89.80
Oh how I love the payday shuffle!!First home- Oct’16 until June’21: £170.995- Overpayments made £13,784 (25% extra!).
New forever home- Sep’21 £309,449 @ 2.05%. Plan to clear it before 30 years!!!!!!0 -
Great new rate and payment drop. It really makes the 12 months of budgetting and OPing worth it and momentum takes a significant surge (I remember the excited feeling 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 £6500 -
Kittenkirst wrote: »Hey MichaelDH
So when I completed the online request for the new deal I put in the house value of £210k. This was based on zoopla showing £215k and our friends house going on the market at £215k and me being cautious rounded down to £210k.
When the Mortgage offer paperwork came through it said £202k so I assume they!lve used something else to value it. Luckily we didnt have to pay for the valuation!
Thank you! That makes sense, sounds like they've used the UK house price index.
We will need a valuation because of adding value. Just had a quick look on Zoolpa, it's showing £210K which is £22k more than we paid, not bad at all!
Had a quick look at mortgages last night, some of the fees are shocking, though did find a couple for £999 with free valuation and legal fees included. Just hope nothing major happens with the rates between now and June! Will speak to our broker about possibility of switching sooner once we've decided on extension plans etc.Starting Balance August 2016: £170,199.00 | Remortgaged August 2018: £212,000.00
Current Balance (15th February 2019): £209,278.85 :eek:
Target: Balance below £170,000.00 by August 20230 -
Payday shuffle now completed so overpayment for February is now sat at £252.18 which is pretty good I think.
The paperwork has been sent back to Clydesdale and hopefully we should see the switch ASAP.
Been to visit my brother today and helped him have a deep clean. His flat has got pretty lucky over the last year or so, so we had a spring clean day to try and help him get it a bit nicer to live in. Hes sown the last week cleaning up in the afternoons and you could see the difference. We spent 5.5hours giving everything a good clean and its definitely starting to look better, plus hes motivated to continue getting things more shipshaped.
Long old drive back home but feeling good at having helped and I had a lovely day chattering away with my big bro :heartpuls:
Off to yoga in the morning for 7am, and going to help our friend get her house prepped for her hubbies 40th tomorrow after that. Hopefully be a minimal spend day.First home- Oct’16 until June’21: £170.995- Overpayments made £13,784 (25% extra!).
New forever home- Sep’21 £309,449 @ 2.05%. Plan to clear it before 30 years!!!!!!0
Categories
- All Categories
- 343K Banking & Borrowing
- 250K Reduce Debt & Boost Income
- 449.6K Spending & Discounts
- 235.1K Work, Benefits & Business
- 607.8K Mortgages, Homes & Bills
- 173K Life & Family
- 247.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards