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  • FIRST POST
    • A Frayed Knot
    • By A Frayed Knot 8th Jun 15, 11:34 PM
    • 2,368Posts
    • 10,554Thanks
    A Frayed Knot
    Was Mortgage Free until 52!!!
    • #1
    • 8th Jun 15, 11:34 PM
    Was Mortgage Free until 52!!! 8th Jun 15 at 11:34 PM
    I was a lurker, but inspired by this thread to start my own diary and although my figures are positively small fry to some - its still my mortgage.

    A bit about me, took the plunge and bought a house age 50 plus by myself, everyone asked "Are you mad?" But thought - I can do this.

    Bought at auction, so got a bit of a bargain (the only way I could afford a mortgage) and had what I would call (in my terms) a nice deposit. Took out an 80% mortgage, and lenders would only give me an 18 year term, 2 years fixed at 4.5%, so in my eyes I have already knocked 7 years off my mortgage - how's that for positive thinking?

    I'm now 3 years down the line and have already made the classic mistake, did not renew my fixed term after the 2 years (and still haven't) as it reverted to 3.99% which was lower than I was paying and on making my first large overpayment, they reduced my monthly payments Little did I know what I know now. So its time to get my mortgage in order.

    I have about a years mortgage savings - and about 3 years mortgage payments out on loan at the moment.

    I pay a minimal 45.00 into an isa every month, but was thinking of adding this to my monthly mortgage payments when I remortgage thus reducing the years even further. What do you think?

    I work full time and overtime is available for the moment although I never accept, as I go in early and stay late - could class that as overtime,

    As you can tell, I'm a bit obsessed with overpayments, but well - you can see my point - at my age, want to be "mortgage free" asap.

    My Motivation Madness;
    I have a simple method to keep me motivated, only thing is to explain I make it sound complicated and only works if you have a sub account as well, but you could adjust to suit yourself.
    • "Always have 0.00 at the end of your mortgage"
    • This way the least/most you will pay is 1p or 9.99
    • On flush days you could go for 00.00 at the end or even 000.00
    I know, I know, I need to get out more Good Luck whatever you decide.
    Last edited by A Frayed Knot; 10-05-2018 at 8:28 PM.
Page 71
    • A Frayed Knot
    • By A Frayed Knot 9th Feb 18, 11:10 AM
    • 2,368 Posts
    • 10,554 Thanks
    A Frayed Knot
    Just made o/p of 307.79 - now have xx000.00 at the end of my mortgage

    Made up of council tax and normal o/p.
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    Target 19 months 5/24
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • A Frayed Knot
    • By A Frayed Knot 9th Feb 18, 12:35 PM
    • 2,368 Posts
    • 10,554 Thanks
    A Frayed Knot
    Playing with calculator finished. Seems I'm still cheaper (atm) to stay on the path I took

    So, no deals for me - yet. Just head down and work my wee socks off
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    Target 19 months 5/24
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • Kittenkirst
    • By Kittenkirst 11th Feb 18, 4:31 PM
    • 1,891 Posts
    • 10,129 Thanks
    Kittenkirst
    You can totally do it AFK- head down and eyes on the prize
    2018 MFW #20 - OP 1799.61/ 3000 60%
    Mar: 218 Apr: 528.91 May: 361.07

    Mortgage Oct '16 170.995 LTV 90% end: Nov 2041
    Overpayments 2016 255.50 2017 2600.40
    • A Frayed Knot
    • By A Frayed Knot 11th Feb 18, 10:10 PM
    • 2,368 Posts
    • 10,554 Thanks
    A Frayed Knot
    Thanks KK - your encouragement means a lot. Still doing my zizzi's but not making much headway.

    Had a few snow flurries/showers today, last 2 leaving everything white (Hair will match soon, if I don't get the bottle out )

    Been working my wee socks off today, pulling/digging out "items" for the bay. After almost a month off - time to get back to the grind.

    Good News - 2 items sold -
    Not so Good - Back to work in the morning after 9 days off
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    Target 19 months 5/24
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • A Frayed Knot
    • By A Frayed Knot 16th Feb 18, 10:39 PM
    • 2,368 Posts
    • 10,554 Thanks
    A Frayed Knot
    2 bits of mail received in post today, 1 was a cheque from shares I have - Why do I keep forgetting about them ?? !! ?? and the other -
    My annual mortgage statement pages and pages of it and that was 6 months of no overpayments hopefully only one more statement before my last

    Cheque will be banked then moved over for o/p, taking me into the 11's - very tempted to take it into 4 figures then build up my savings again, very tempted - watch this space

    Was told today about travel pass that I can apply for through work, buses, underground, trains and boats . . . will do the sums once again, great value and you take it out for 2 years, which falls in with my plans.

    Meanwhile need some shopping as have managed to stretch the budget fantastically well (?) only 5 days to payday, but already feel skint - I have a huge bill end of March and thinking of a holiday as well - not sure if that will take off though, we'll see.
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    Target 19 months 5/24
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • JAMIEDODGER
    • By JAMIEDODGER 17th Feb 18, 7:17 AM
    • 4,271 Posts
    • 18,685 Thanks
    JAMIEDODGER
    ... and thinking of a holiday as well - not sure if that will take off though, we'll see.


    Ooh holiday anywhere nice?
    #82 12k in 2018 - 3473.45/12000 - 28.95%
    Retirement Fund 10850.02/250000 - 4.34%
    House Fund 2679.13/50000 - 5.36%
    Travel Fund 199.49/2500 - 7.98%
    • A Frayed Knot
    • By A Frayed Knot 17th Feb 18, 7:44 AM
    • 2,368 Posts
    • 10,554 Thanks
    A Frayed Knot
    ... and thinking of a holiday as well - not sure if that will take off though, we'll see.
    Ooh holiday anywhere nice?
    Originally posted by JAMIEDODGER
    Just nice to be off, but would be great for somewhere warmer than here, usually a last minute decision on the location, had some fantastic luxury holidays and bargains that way and forgot to mention that I may have someone to work my easter in return for me working the May or Sept holiday.
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    Target 19 months 5/24
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • A Frayed Knot
    • By A Frayed Knot 17th Feb 18, 8:29 AM
    • 2,368 Posts
    • 10,554 Thanks
    A Frayed Knot
    Amazed at the 6 parcels to post this morning. Would it be greedy to say I would like to see that every day, although would still take an age to clear my clutter treasures
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    Target 19 months 5/24
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • shangaijimmy
    • By shangaijimmy 17th Feb 18, 9:00 AM
    • 2,719 Posts
    • 13,386 Thanks
    shangaijimmy
    I'm equally astounded at 2 of ours that have sold. Envious of your 6 tough!! Our clutter too is immense at the minute. All 3 kikds seems ti have grown a=out of an age group of clothes between Christmas and half term!
    MFW: Turning June 2036 into March 2025... 38//120 Payments Challenge, Diary Reduction 40,984.38
    Aug 2009: 163,051 // Current: 95,015.63 // Avg Daily Interest 4.27
    MFiT-T4 #8 - 74.24% of 41,000
    • A Frayed Knot
    • By A Frayed Knot 18th Feb 18, 9:10 AM
    • 2,368 Posts
    • 10,554 Thanks
    A Frayed Knot
    Yesterday out all day, first of all 7 parcels posted (1 bought just as I was leaving for PO)

    Made 1.04 on roadkill yesterday (3 separate occasions)
    Treated myself to Easter Egg(s) since I haven't seen my favourite ones (Orange smartie ones with mini orange smartie eggs) anywhere else, I seized the moment

    Usual chores to be done today, 1st load of washing done, 2nd ready to go in, then some ironing to get on with, and bathroom blind needs adjusting.

    Made an o/p of 157.96 being my sub account balance, although 2 totals still don't add up
    Last edited by A Frayed Knot; 18-02-2018 at 9:12 AM.
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    Target 19 months 5/24
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • A Frayed Knot
    • By A Frayed Knot 18th Feb 18, 8:22 PM
    • 2,368 Posts
    • 10,554 Thanks
    A Frayed Knot
    Shopping done today and I decided to stock up on a few items, and put my freezer to even more good use. Will try and keep food spending to a minimum next month.

    Treated myself (I am good to myself) to 2 coconut ice creams - I love coconut, which I will keep until having a lovely extra special meal.

    Total spends 45 - roll on payday.

    Good news - nephew has just got another dog (puppy) (we lost the 1st dog a year ago this month) - what fun watching her antics.

    Sad news - heard today there will be a family gathering as an elderly family member is no longer here.
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    Target 19 months 5/24
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • bexster1975
    • By bexster1975 20th Feb 18, 7:39 PM
    • 1,182 Posts
    • 5,615 Thanks
    bexster1975
    Hello!

    How are you? Have I missed much?

    Bexster
    • A Frayed Knot
    • By A Frayed Knot 20th Feb 18, 8:05 PM
    • 2,368 Posts
    • 10,554 Thanks
    A Frayed Knot
    Hello! Long lost far travelled friend. Was just thinking today (and last week as well) that I hadn't heard from you and thought you may have had a change of mind about staying over there - well, of course you could still be over there ???

    How are you? Nothing much changed here, still plodding on.


    How was your journey/break/holiday? You can pm me and tell me all about it, love hearing about travels.
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    Target 19 months 5/24
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • A Frayed Knot
    • By A Frayed Knot 20th Feb 18, 8:49 PM
    • 2,368 Posts
    • 10,554 Thanks
    A Frayed Knot
    Quick check at the mortgage and although has 000.00 at the end including the sub account, decided to make a little knotty o/p of 42.04 to even off sub account. (account still not tallying )

    Have split loaf into smaller portions and into the freezer they went - using the little bags that Watty1 suggested - having been using these for lots when I run out of my containers that I bought from HB's great quality and so and as I had bought lovely fruit loafs with YS on them, decided I would do the same with them, and . . . going to try freezing a little milk - I always buy the 4 pints and every single week without fail - I pour more than half down the sink as I really only use milk for baking and in my tea in the mornings.

    So next month a long month but hoping I only need to buy essentials.
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    Target 19 months 5/24
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • A Frayed Knot
    • By A Frayed Knot 1st Mar 18, 8:43 PM
    • 2,368 Posts
    • 10,554 Thanks
    A Frayed Knot
    Missing for a few days, but what a few days.

    Oh, we have snow, snow and more snow along with a howling wind tonight, had to clear behind my gate tonight as could get it open - snow was too deep.

    Knackered is the word, have been walking to and from work since we hit Red Alert - which meant,no buses, trains and planes, even the subways closed early !!!
    My last post stated I was freezing more essentials, well just in the nick of time, says I, Supermarkets are not getting deliveries (either that or no staff in to bake loafs etc), so my freezing essentials have came in very handy.

    Speaking of planes, have booked myself a trip for a few days next week, fingers crossed the airport is open by then. Just checked the price of flights, and its went up by 4 times as much.

    Still not had that family gathering I was speaking of - whoever heard of a funeral being cancelled. (Snow again).

    Managed to get to a PO this morning only to be told staff are stuck and cant get to work, so had to trail all the way back after work only to be told - there might not be only pick ups tonight, tomorrow or Saturday - I'm thinking there goes my 100% feedback.

    And I'll have to do it all again either tomorrow or Saturday as I now have more to post, usually a good thing so won't complain.

    So doubt I will be able to overpay much this month - watch this space.
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    Target 19 months 5/24
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • bexster1975
    • By bexster1975 2nd Mar 18, 4:16 PM
    • 1,182 Posts
    • 5,615 Thanks
    bexster1975
    Hello

    I don't think I'd fancy my essentials freezing - sounds dreadful

    Hope you have booked somewhere lovely to travel to next week.
    I also have a parcel to post. Sadly buyer paid within an hour if me getting back from PO Monday evening and haven't been able to get there since. Will have a go in the am. Hopefully buyers will understand if they haven't been asleep since Monday that we have had pretty awful weather

    Bexster
    • A Frayed Knot
    • By A Frayed Knot 2nd Mar 18, 5:57 PM
    • 2,368 Posts
    • 10,554 Thanks
    A Frayed Knot
    So, I see you have recovered from your jet-lag.

    Your essentials and mine obviously differ- no way would I go without my breakfast in the morning , as I had about an hours trek through deep snow (only cause I live near to work) otherwise I would have had 2 or 3 days off work, hmm might think about that if ever there is a next time.

    A big thank you in the papers so I have been told after a pretty awful day week at work.

    Lets see if I get my trip, as airports have to open first of all.

    I messaged all my buyers to let them know, and they all replied that they understand, as weather is same all over.

    Off to check mortgage balance and see how that doing.
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    Target 19 months 5/24
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • bexster1975
    • By bexster1975 2nd Mar 18, 7:56 PM
    • 1,182 Posts
    • 5,615 Thanks
    bexster1975
    A watched pot never boils

    Bexster
    • A Frayed Knot
    • By A Frayed Knot 3rd Mar 18, 9:14 AM
    • 2,368 Posts
    • 10,554 Thanks
    A Frayed Knot
    A watched pot never boils

    Bexster
    Originally posted by bexster1975

    But it reduces
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    Target 19 months 5/24
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • bexster1975
    • By bexster1975 3rd Mar 18, 9:43 AM
    • 1,182 Posts
    • 5,615 Thanks
    bexster1975
    Have a good weekend my 0.00 OCD friend!

    Bexster
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