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  • FIRST POST
    • beanielou
    • By beanielou 4th Nov 14, 2:19 PM
    • 58,684Posts
    • 243,144Thanks
    beanielou
    Baby steps to mortgage freedom for beanielou.
    • #1
    • 4th Nov 14, 2:19 PM
    Baby steps to mortgage freedom for beanielou. 4th Nov 14 at 2:19 PM
    My first thread on the MFW board!!
    My mortgage has 6 & 1/2 years left to run.
    My income seems to decrease more & more & it becomes more & and more of a challange to pay my hefty(to me) mortgage.
    I have managed an overpayment last month as I got some 's unexpectedly.
    My biggest fear is not being able to pay my mortgage & loosing my home.
    So I have decided that baby steps are the way forward~even a fiver or a tenner overpaid in a month is better than nothing.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
Page 265
    • Karmacat
    • By Karmacat 4th Aug 18, 4:21 PM
    • 30,176 Posts
    • 175,119 Thanks
    Karmacat
    And don't forget beanie, a new deal is *really* expensive - the upfront charges add 15% or so to the cost of the loan. That applied to me when my mortgage was 40k or so. I stuck with SVR till I paid it off when I moved here.
    Downsized and paid off mortgage 2010
    Retired August 2016
    Paid off French mortgage September 2018
    • beanielou
    • By beanielou 4th Aug 18, 4:59 PM
    • 58,684 Posts
    • 243,144 Thanks
    beanielou
    And don't forget beanie, a new deal is *really* expensive - the upfront charges add 15% or so to the cost of the loan. That applied to me when my mortgage was 40k or so. I stuck with SVR till I paid it off when I moved here.
    Originally posted by Karmacat
    I would not take out a new deal now Karmcat nor do I think they would give me one at this stage.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • doingitanyway
    • By doingitanyway 4th Aug 18, 8:23 PM
    • 3,683 Posts
    • 20,666 Thanks
    doingitanyway
    Can you keep back just a tiny amount of the bank windfall for yourself? Even a tiny emergency fund can help with how you fellowmen struggling financially...Just a thought...
    Emergency fund 127/1000
    NSD December 5/31 AFD 2/10, SFD 0/10
    IF NOT NOW THEN WHEN
    • Sun Addict
    • By Sun Addict 4th Aug 18, 8:38 PM
    • 6,407 Posts
    • 44,639 Thanks
    Sun Addict
    Glad TSB gave you some compensation

    Great that you only have a year to the end of the mortgage
    Virtual Sealed Pot 2010 13.14
    Debt 1880
    Weight loss 0/6LBS
    Emergency Fund 4000/10,000
    • beanielou
    • By beanielou 4th Aug 18, 8:49 PM
    • 58,684 Posts
    • 243,144 Thanks
    beanielou
    TBH I really have no idea what I am going to do
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • in need of direction
    • By in need of direction 4th Aug 18, 9:57 PM
    • 5,402 Posts
    • 32,142 Thanks
    in need of direction
    and the obvious answer is "keep plodding!"
    Mortgage at 01.01.14 119,481.83 today 71,743.47, target 65,000 by 05/04/19 Offset fund today 412.27 target 5,500 by 05/04/19
    Emergency fund 1,100/5.5k & 200/200 cash.
    Weight 8 July 14st 4lb
    determined to stop defining myself by my mistakes.
    Progress not perfection.
    • beanielou
    • By beanielou 4th Aug 18, 9:58 PM
    • 58,684 Posts
    • 243,144 Thanks
    beanielou
    and the obvious answer is "keep plodding!"
    Originally posted by in need of direction
    It is
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • Karmacat
    • By Karmacat 4th Aug 18, 10:43 PM
    • 30,176 Posts
    • 175,119 Thanks
    Karmacat
    I like that
    Downsized and paid off mortgage 2010
    Retired August 2016
    Paid off French mortgage September 2018
    • Sun Addict
    • By Sun Addict 5th Aug 18, 7:26 AM
    • 6,407 Posts
    • 44,639 Thanks
    Sun Addict
    I think this was a tip on the MSE boards - if you get a windfall you should split it into 3: debt/savings/spend. Worth thinking about?
    Virtual Sealed Pot 2010 13.14
    Debt 1880
    Weight loss 0/6LBS
    Emergency Fund 4000/10,000
    • beanielou
    • By beanielou 5th Aug 18, 11:49 AM
    • 58,684 Posts
    • 243,144 Thanks
    beanielou
    SA~~I like the spend bit
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • Cumbria lass
    • By Cumbria lass 5th Aug 18, 6:25 PM
    • 2,495 Posts
    • 15,501 Thanks
    Cumbria lass
    Beanie all this talk of money , anybody would think the site was about money!

    I hope you manage to get your head round all your different scenarios and make an informed decision at the end.

    Am glad to hear TSB have paid up , so they should.
    • doingitanyway
    • By doingitanyway 5th Aug 18, 7:39 PM
    • 3,683 Posts
    • 20,666 Thanks
    doingitanyway
    A treat is in order from the little windfall surely? Just saying...
    Emergency fund 127/1000
    NSD December 5/31 AFD 2/10, SFD 0/10
    IF NOT NOW THEN WHEN
    • beanielou
    • By beanielou 5th Aug 18, 9:04 PM
    • 58,684 Posts
    • 243,144 Thanks
    beanielou
    A treat is in order from the little windfall surely? Just saying...
    Originally posted by doingitanyway
    I have treated myself to a guzzler water bottle & cheapie pair of capri length leggings for yoga.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • beanielou
    • By beanielou 5th Aug 18, 9:07 PM
    • 58,684 Posts
    • 243,144 Thanks
    beanielou
    Beanie all this talk of money , anybody would think the site was about money!

    I hope you manage to get your head round all your different scenarios and make an informed decision at the end.

    Am glad to hear TSB have paid up , so they should.
    Originally posted by Cumbria lass
    Still pondering


    Yes, the TSB have been a blooming pain.
    4 months it took for me to have my issues resolved.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • beanielou
    • By beanielou 5th Aug 18, 10:24 PM
    • 58,684 Posts
    • 243,144 Thanks
    beanielou
    So In have paid all the money I received from TSBlooming B off the mortgage except the money I paid for the water guzzler.
    Maybe I should have kept more but it is done now.
    My thinking is that when my fix finishes in September the remaining balance will be lower & so will be the interest.
    I will then have a lower monthly payment but will pay the difference to the loan.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • Karmacat
    • By Karmacat 5th Aug 18, 11:30 PM
    • 30,176 Posts
    • 175,119 Thanks
    Karmacat
    Just wanted to check up how you're doing before I went to bed. I'm glad for *your* sake you've made a decision, its behind you now. And its the safest decision you could make, to help you safeguard your home. If that lessens your worry and anxiety, then thats great. And you've figured out a bit of balance with the bits for yourself (very little bits, it has to be said!) and the extra payments to the loan.



    Sleep well, beanie xxx
    Downsized and paid off mortgage 2010
    Retired August 2016
    Paid off French mortgage September 2018
    • beanielou
    • By beanielou 6th Aug 18, 10:27 AM
    • 58,684 Posts
    • 243,144 Thanks
    beanielou
    Just wanted to check up how you're doing before I went to bed. I'm glad for *your* sake you've made a decision, its behind you now. And its the safest decision you could make, to help you safeguard your home. If that lessens your worry and anxiety, then thats great. And you've figured out a bit of balance with the bits for yourself (very little bits, it has to be said!) and the extra payments to the loan.



    Sleep well, beanie xxx
    Originally posted by Karmacat
    Thanks Karmcat xxx
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • beanielou
    • By beanielou 6th Aug 18, 12:04 PM
    • 58,684 Posts
    • 243,144 Thanks
    beanielou
    It is very dreich & miserable here today.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • milann
    • By milann 6th Aug 18, 2:21 PM
    • 2,038 Posts
    • 10,017 Thanks
    milann
    I'm pleased you have made your decision - makes sense to me Beanie.
    • milann
    • By milann 6th Aug 18, 4:06 PM
    • 2,038 Posts
    • 10,017 Thanks
    milann
    Thought I'd replied Beanie but can't see it anywhere.

    I'm pleased you've decided what to do about your mortgage. When the time comes you'll have to decide whether the premium is more than you'd save by paying it early - otherwise I'd pay the loan and for your peace of mind get an emergency fund together again so that you have enough to get you by.... If that makes sense.

    Started off very dull here but still very warm....
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