Our quest for mortgage neutrality

July 2018 update

So as of the 2nd of July the balance of both mortgages is £ 53,710.24.
- A capital reduction of £ 2,009.15, triple that of last month, very happy with this.
- Two bricks coloured in.
- I get impatient and forget that good progress is being made so checked we owe 34.51% of the mortgage, at new year this was 41.76%. So by next month two thirds of the house will be ours.
Money saving activities
- 4 bay sales, more things found to list too.
- Decorating and decluttering being done. Trying to decorate with supplies we already have.
- Good use of solar panels the electricity is down £12 a month.
- Current account switch complete, awaiting cb.
- Forward projections done to try and achieve the balance starting with 4 in August. Very excited about this target, this is not looking likely but still going to try to do this.
- Checked the mortgage rate for when we re mortgage next year. Done some sums regarding the early repayment charges. Considering not fixing both mortgages. It will cost slightly more at double the interest rate but will have the ability to overpay as much as possible.
- Trying to make the food budget easier and working on the basis of £10 a day instead of the £300 per month. Makes it easier to see where you are mid month.

So as of the 3rd of September the balance of both mortgages is £ 49,649.35, made it to the 40’s happily waving goodbye to the 50’s. :beer:
Reward for reaching this milestone to be sorted this week, new stools for breakfast bar, present ones 12 years old and broken.:T

• A capital reduction of £ 2,009.39 £50 less than last month, very happy with this. At this rate we would be mortgage free in 25 months.:j
• Two bricks coloured in.
• I get impatient and forget that good progress is being made so checked we owe 31.9% of the mortgage, at new year this was 41.76%, so by the time I start making overpayments this month 10% will have been paid So this month two thirds of the house is ours. Aiming for 25% by February 2019.
• Also need to consider the mortgage lending is less than the value of house so I reckon value is at least £250,000, 20% of value is mortgaged. So the house is ours just paying for garden and garage now !
• Also interest £5.57 down to £4.37, £1.20 a day less in interest each day.
Money saving activities
• 1 bay sale, more things found to list too and reductions been made to starting prices. Really need to start putting more time to this. Will give my self a goal of £100 for September.
• Decorating and decluttering being done. Trying to decorate with supplies we already have.
• Forward projections done to try and achieve the balance starting with 3 in January. Determined to do this and already considering where to book holiday to celebrate the milestone.
• Checked the mortgage rate for when we re mortgage next year. Rang Nationwide and have decided to reduce the terms. This means we have turned 75% of overpayment reserve to capital to get an agreement on this. This is now done and the mortgage terms are now reduced.
• Trying to make the food budget easier and working on the basis of £10 a day instead of the £300 per month. Makes it easier to see where you are mid month, failed on this in school holidays but had lots of lovely picnics.
• Looked at bills again we are with Virgin for telephone and broadband, price is going up again. Considering moving to KEE or Pnet would this be a good money saving move ?
• Planning autumn birthday presents and Christmas presents, I already have some will be great to tick those recipients off my list. Then I can plan budget and gifts to be bought/made.

So as of the 1st of October the balance of both mortgages is £47,697.39 with this months overpayment will achieve a balance of less than £46,500.:beer::beer::beer:
Reward for reaching this milestone to be sorted this week, new stools for breakfast bar, present ones 12 years old and broken. Finding it difficult to find what I want, went to Swedish shop at weekend but not sure Glenn is what I want. Any suggestions for shops to try ?

• A capital reduction of £ 1,951.96, £50 less than last month, very happy with this. At this rate we would be mortgage free in 25 months.
• One brick coloured in.
• I get impatient and forget that good progress is being made so checked we owe 30.65% of the mortgage, at new year this was 41.76%, so 11% will have been paid this year So this month 70% of the house is ours. Aiming for 75% by February 2019.
• Also need to consider the mortgage lending is less than the value of house so I reckon value is at least £250,000, 20% of value is mortgaged. So the house is ours just paying for garden and garage now !
• Also interest £5.57 down to £4.14, £1.43 a day less in interest each day. Very happy with this:T
Money saving activities
• 1 bay sale, more things found to list too and reductions been made to starting prices. Really need to start putting more time to this. Will give my self a goal of £100 for September. Achieved this on Sunday, cut it really fine.:rotfl: Going for £150 for October.
• Decorating and decluttering being done. Trying to decorate with supplies we already have.
• Forward projections done to try and achieve the balance starting with 3 in January. Determined to do this and holiday booked for next year to celebrate the milestone, was a voucher, deposit of £20 only and cash back too so went for it. Also it is out of normal school holidays so 60% cheaper.
• Checked the mortgage rate for when we re mortgage next year. Rang Nationwide and have decided to reduce the terms. This means we have turned 75% of overpayment reserve to capital to get an agreement on this. This is now done and the mortgage terms are now reduced.
• Trying to make the food budget easier and working on the basis of £10 a day instead of the £300 per month. Makes it easier to see where you are mid month.
• Looked at bills again we are with Virgin for telephone and broadband, price is going up again. Considering moving to EE or Plusnet would this be a good money saving move ?
• Planning autumn birthday presents and Christmas presents, I already have some will be great to tick those recipients off my list. Then I can plan budget and gifts to be bought/made.

So as of the 1st of November the balance of both mortgages is £ 45,679.26 with this months overpayment will achieve a balance of less than £44,500.:T:T:T:beer:
Reward for reaching this milestone to be sorted last month tried and failed, new stools for breakfast bar, present ones 12 years old and broken. Kind of given up on this being so frugal determined to find ones that are right for us. Any suggestions for shops to try ?
At least holiday for the next milestone is booked.

A capital reduction of £ 2,018.13 £60 more than last month, very happy with this. At this rate we would be mortgage free in 24 months.:j:j
• Two bricks coloured in.
• I get impatient and forget that good progress is being made so checked we owe 29.35% of the mortgage, at new year this was 41.76%, so 12.41% will have been paid this year So this month 70.65% of the house is ours. Aiming for 75% by February 2019.
• Also need to consider the mortgage lending is less than the value of house so I reckon value is at least £250,000, 20% of value is mortgaged. So the house is ours just paying for garden and garage now !
• Also interest £5.57 down to £4.05, £1.52 a day less in interest each day. Very happy with this, can’t wait to get under £4 per day.
Money saving activities
• 2 bay sales, more things found to list too and reductions been made to starting prices. Really need to start putting more time to this, I do find sales get me motivated. Will give my self a goal of £100 for November.
• Decorating and decluttering being done. Trying to decorate with supplies we already have.
• Forward projections done to try and achieve the balance starting with 3 in January. Determined to do this and aleady considering where to book holiday to celebrate the milestone, holiday booked. Found it so deposit paid and TCB used.
• Trying to make the food budget easier and working on the basis of £10 a day instead of the £300 per month. Makes it easier to see where you are mid month.
• Looked at bills again we are with Virgin for telephone and broadband, price is going up again. Considering moving to EE or Plusnet would this be a good money saving move ?
• Planning autumn birthday presents and Christmas presents, I already have some will be great to tick those recipients off my list. Then I can plan budget and gifts to be bought/made. Birthday presents bought and half of the Christmas presents. Have wrapping and cards from last year so this is to be used before I buy more.