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  • FIRST POST
    • kirstypark
    • By kirstypark 5th Dec 12, 9:50 PM
    • 768Posts
    • 3,528Thanks
    kirstypark
    To Freedom...
    • #1
    • 5th Dec 12, 9:50 PM
    To Freedom... 5th Dec 12 at 9:50 PM
    Hello folks,

    Been lurking around here for a while and wanted to start posting. My OH and I have been paying a morgage since we were 18 and finally paid it off this year. We found it hard going in the early years and would often joke about being in our early 40s with no morgage. However, moved house a few years ago to a much more expensive area and had to take out a further advance which had another 15 years to run. Meaning we would have paid a morgage most of our working life

    When I found this site, I learned the benefit of overpaying and have been doing this for a while now. Have managed to cut our eventual date by 2 years and 3 months. With both morgages we were due 120,000, now we "only" owe 58,300. Our fixed rate finished this year and is now half of what we previously were paying.

    We live with our adult son, and our daughter has recently arrived hime from living abroad, so space is tight. My OH has gone from being not very interested to being more moneysaving than me...I have created a monster

    I have recently changed jobs for one with more sociable hours, but slightly less pay, OH is self employed and his earnings are very variable, the kids are paying a small amount for rent. Our plan is to throw as much as we can at the morgage whilst rates are low, live frugally and try to get rid of this. Then we might be able to help the kids out with housing...Well a girl can dream!
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    • kirstypark
    • By kirstypark 25th Dec 15, 7:53 AM
    • 768 Posts
    • 3,528 Thanks
    kirstypark
    It's a bit sad to be posting on christmas day, but waiting for the family to wake up and thought about my diary. It's been so neglected! but I'm still on track!

    New York holiday was wonderful - we ended up selling our 2nd car and used the cash for spending. So was not stressed and spent what we had without dipping into savings. Decided not to do christmas cheaply this year and have stopped penny pinching this month - but that will change back in January.

    Both kids are moving out early feb, bye bye rent money! It does make us wonder if we need our bigger home now, but love the house so much we will try and keep it, but that mortgage needs gone! balance at £76k and it's my 47th birthday today so need to start saving for retirement in exactly 3 years. Let's see what we can do!

    But also still need a new kitchen and bathroom in case we do decide to move, so the house would be worth a bit more. So have £5K saved up for that so far.
    Last edited by kirstypark; 25-12-2015 at 8:12 AM.
    mortgage 1 33,000. paid nov 2012 . mortgage 2 87,000 due 51,686.76 at july 2013, but then:new home and remortgage ... £101065.43 now 74k
    • kirstypark
    • By kirstypark 9th Jan 16, 8:01 AM
    • 768 Posts
    • 3,528 Thanks
    kirstypark
    have started pricing up kitchens never put in a whole kitchen before and it's scary. Managed a small overpayment by using voucher for last week shopping and getting £62 of food for £18. Our total is now down to £75k.

    Started back at dance classes last night - just love learning to dance even though we fight like Taylor and Burton on the dance floor! Best bit is that my freind has finished her chemo, and was able to join us again for the first time in months.
    mortgage 1 33,000. paid nov 2012 . mortgage 2 87,000 due 51,686.76 at july 2013, but then:new home and remortgage ... £101065.43 now 74k
    • kirstypark
    • By kirstypark 7th Feb 16, 9:32 AM
    • 768 Posts
    • 3,528 Thanks
    kirstypark
    So both kids moved out and we have a spare bedroom and a study - but the house does feel very empty. We have picked a kitchen from B&Q that arrives end of feb, by not going all intergrated we saved a bit, and my dad is going to fit it so that should save some too. Paid for from savings, although there has been no overpayments this month.
    mortgage 1 33,000. paid nov 2012 . mortgage 2 87,000 due 51,686.76 at july 2013, but then:new home and remortgage ... £101065.43 now 74k
    • kirstypark
    • By kirstypark 7th Jun 16, 8:08 AM
    • 768 Posts
    • 3,528 Thanks
    kirstypark
    so, it's june and we have hit a rough patch with very little to overpay and the balance stands at just over 72k. It's been tough without the kids rent, we are socialising more and have both needed dental and optician work that has hit our savings. The kitchen is finally finished and we then needed a chair for the living room which was dearer than it should have been. The money slipping through our fingers so will be another month with no overpayment.

    I have decided to take on some complimentary therapy work and am off to do a course next week, more money with fares, and hotel bills...but it could be a profitable sideline.

    And we need to get a grip with the food shopping again - spending too much at the moment.
    mortgage 1 33,000. paid nov 2012 . mortgage 2 87,000 due 51,686.76 at july 2013, but then:new home and remortgage ... £101065.43 now 74k
    • kirstypark
    • By kirstypark 10th May 18, 6:59 PM
    • 768 Posts
    • 3,528 Thanks
    kirstypark
    So Iím back after 2 years of rollercoaster times. Our daughter bought her first home last year and we used a chunk of our deposit to give her a deposit and helped out with decorating and furnishing, just a month after our son moved into his first home and also needed help from bank of mum and dad. So our nest was as empty as our bank balance. but we achieved our dream of helping our kids onto the property ladder.

    so we decided to sell our rather large house, downsize to a smaller one, pay off morgage and with the change we arranged career breaks to go travelling - man plans and god laughs! after 10 months we had no interest in the house even after spending cash to get it up to scratch, dropping the price by 10k and putting in a new boiler.

    living in limbo was causing me anxiety for the first time in my life - so we have now decided to take the house off the market, live in it and settle down to paying it off. There is just £63000 left to pay and under 9 years to do it. Our moneysaving went out the door so its time to live frugally again. This diary helped so much last time so decided to start it up again. Our career breaks are on hold until we pay this off then we might finally get to go travelling!
    mortgage 1 33,000. paid nov 2012 . mortgage 2 87,000 due 51,686.76 at july 2013, but then:new home and remortgage ... £101065.43 now 74k
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