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  • FIRST POST
    • Kittenkirst
    • By Kittenkirst 5th Feb 16, 10:35 AM
    • 1,885Posts
    • 10,108Thanks
    Kittenkirst
    Getting a mortgage and then becoming mortgage-free!
    • #1
    • 5th Feb 16, 10:35 AM
    Getting a mortgage and then becoming mortgage-free! 5th Feb 16 at 10:35 AM
    Hi all!
    So from my title you may have guessed I don't yet have a mortgage, however I am hoping that will all change within the next few weeks.
    I will then start on overpaying the mortgage and really penny pinching to try and reduce it down as much as possible!

    I'm hoping this is alright to start my diary in here? :-)

    The story so far, my lovely girlfriend and I have been discussing getting a place together for some time. We started looking at houses (al very small and far from her parents- which is a no-no, we want to be close to them to visit regularly). Last weekend we went to see a new build development and fell in love with a house- less than 2 miles from her parents, perfect size for the two of us and within our budget (from getting mortgage in principle information and confirming monthly payments were well within our budgets).

    Sooooo we took her parents round for their seal of approval, spoke with an agent we know through the family about pertinent questions to ask, did lots of number crunching and then placed a reservation.....

    ....so we've now got paperwork from solicitors re the conveyancing etc and paperwork from the mortgage advisors to sort out this weekend.
    We have re-jogged our budget to ensure we had the deposit in savings by end of Feb (we thought we'd have a few months before we found anywhere) so are ready to almost hand over 18500 :O

    I have agreed to move into her parents house and pay rent in mid March to prevent paying rent, bills and food (will save an extra 500 a month) so we should be in a good position for when the house is ready September/October time!

    Does anyone have any hints or tips so far?

    Our brokers/solicitors are ones recommended by family who've used them and really recommend them and we've sense checked the rates the solicitors charge to ensure its competitive.
    2018 MFW #20 - OP 1465.85/ 3000 49%
    Mar: 218 Apr: 528.91 May: 27.31

    Emergency fund 4.2k/ 6k
    Mortgage Oct '16 170.995 LTV 90% end: Nov 2041
    Overpayments 2016 255.50 2017 2600.40
Page 67
    • Kittenkirst
    • By Kittenkirst 1st May 18, 11:04 PM
    • 1,885 Posts
    • 10,108 Thanks
    Kittenkirst
    1st of the month!
    So it's the start of May already which means the year is steaming on ahead! Time for monthly figures- I did this a while back but it fell off my radar until I read ShanghaiJimys diary and was reminded so here goes

    April 2018- Payment 19
    Mortgage balance 30/4/18- 159,410
    April OP's - 542.98
    April net reduction - 1,006.37
    Daily Interest charged - 7.23
    LTV - 22.3%
    % Loan Remaining - 93%

    Diary figures
    Total mortgage Reduction - 23,589
    Cumulative OP's - 4,287.89
    Ave OP's - 225.68

    Pretty pleased with the figures for April, and today I have requested another 3 from Pinecone to get Mays OPs underway

    Collected an online order today of make-up from Boots- they are discontinuing their Seventeen range so I took advantage and got the following:

    -waterproof mascara
    -2 matte lipsticks
    -face palette (concealer, blush, etc)
    -eyeshadow pallet (8 colours, 3 creams & primer)
    -concealer
    -translucent powder

    For 12 plus 48p advantage card points. I also went into primark and picked up two foldable toothbrushes (1 instead of 2.45 at Boots), a lightweight pj short & vest combo (4.50), 1 pair of sunglasses, some clear toiletry bags and a reed diffuser for the bathroom. All except for the reed diffuser are in the bag in the airing cupboard ready for hols.

    Went into office today and was a lot more mobile butbreally sugfered by lunch with backpain- have only done 7550 steps today but it's three times what I could do on Friday so I need to be patient.although saying that I'm planning the gym & yoga for gentle exercise tomorrow

    Looking forward to ringing the Mortgage provider tomorrow to get the interest applied today- think the rate should be now 7.22 per day
    2018 MFW #20 - OP 1465.85/ 3000 49%
    Mar: 218 Apr: 528.91 May: 27.31

    Emergency fund 4.2k/ 6k
    Mortgage Oct '16 170.995 LTV 90% end: Nov 2041
    Overpayments 2016 255.50 2017 2600.40
    • shangaijimmy
    • By shangaijimmy 2nd May 18, 7:13 AM
    • 2,702 Posts
    • 13,332 Thanks
    shangaijimmy
    Great figures. My current favourite is net reduction for the month and being over 1k you must be so pleased.
    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
    • Kittenkirst
    • By Kittenkirst 2nd May 18, 11:27 PM
    • 1,885 Posts
    • 10,108 Thanks
    Kittenkirst
    Great figures. My current favourite is net reduction for the month and being over 1k you must be so pleased.
    Originally posted by shangaijimmy
    Totally agree Jimmy- we're so pleased that it over 1k capital cleated this month fingers crossed we can get a few more in however now my bonus is done I'm not sure how close we will get!

    Had a NSD today and received 3 Pinecone payment- and got to try something for free (yum) and received 91p interest on our joint bills acct so 3.91 overpaid to start May off. Hurrah!

    No gym or yoga today as decided by lunch that the pain was still there so would let it rest another night. Going to do some weight training tomorrow but will modify and do some of them seated to reduce any pressure/pain on the back. Wish me luck!

    Had a frustrating call ping pong between hmrc and student lians- tax think I owe them and have applied a disproportionate fine on top & have passed to a collections company, but the initial charges relate to student loans but student loans Agee I'm in credit with them and they've told hmrc. Spent two hours between the two and the DCA on the phone trying to resolve this farcical situation but have to wait a week and then call student loans back for an update; once the student loan piece is resolved I can appeal the fine apparently.....not what anyone needs especially as I'm in credit and due a refund

    No point getting too wound up, I'm sure it will get sorted in the end!

    On a more positive note my lifetime ISA bonus paid out today so gained 25 interest so it's now at the princely sum of 135- this one is going to be a slow burner to support pension/savings for retirements so slow & steady will win the race. Increased the monthly standing order up from 10 to 25 starting this payday so I'm putting approx 200 into pensions/retirement funds per month.
    2018 MFW #20 - OP 1465.85/ 3000 49%
    Mar: 218 Apr: 528.91 May: 27.31

    Emergency fund 4.2k/ 6k
    Mortgage Oct '16 170.995 LTV 90% end: Nov 2041
    Overpayments 2016 255.50 2017 2600.40
    • shangaijimmy
    • By shangaijimmy 3rd May 18, 7:55 AM
    • 2,702 Posts
    • 13,332 Thanks
    shangaijimmy
    Good thinking throwing some steady increases into pensions/retirement. Although we've only had miniscule pay rises over the last few years we've thrown them all at pensions as we don't need it/don't feel the difference of it. Make them soldiers keep working hard!
    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
    • CathT
    • By CathT 3rd May 18, 8:50 PM
    • 5,542 Posts
    • 38,645 Thanks
    CathT
    Pensions is definitely an area we need to be more focused on.
    May 2018 -
    part 1 - 77,906
    part 2 - 45,391
    Total - 123,297
    • fiona100
    • By fiona100 4th May 18, 1:33 PM
    • 25 Posts
    • 76 Thanks
    fiona100
    Thanks for the reminder..


    I got news that will have a bearing on my probably income, just after I had had my lifetime ISA bonus news.. As I plan to move city during this summer (after the mortgage fix unfixes - don't want the fines )


    I am not sure if I will manage the larger 1 off payments that I managed to fund the ISA with last year.. I would need to wait and see what the new Mortgage left me with.


    So thanks for the reminder that the minute pay news, slow and steady route is also there.


    Many Thanks Fiona
    • Kittenkirst
    • By Kittenkirst 8th May 18, 10:36 PM
    • 1,885 Posts
    • 10,108 Thanks
    Kittenkirst
    Evening folks,
    A lovely bank holiday weekend was had, making IKEA flatpack furniture for the gfs parents, a few gym sessions and a lovely swim!

    Also managed to visit my big brother and take him out for lunch, and go out for a spur of the moment pub lunch with some good friends

    On the mse front we had some cashback finally confirm in Quidco which has been paid out tonight and promptly overpaid that's an extra 23.40 that wasn't planned so I'm pretty happy. Just completed a Pinecone survey too so that should credit andbe overpaid before payday!

    May Overpayment is now at 27.41 before payday which is a great start to May!

    Back is feeling miles better so I'm planning my first yoga session back tomorrow and can't wait. Breakfast/lunch/snacks & yoga kit all packed for getting into the office. Managed to hit at least 10k steps daily since Friday too so I'm back to my normal activity levels which feels good.

    Now to not spend any more money until payday- I have some sandals to return and a top (total 9.50 big spender me) which I'm hoping to do on Friday so the funds are back in my bank rather than the clothes being carted around in the back of the car! ;P

    Planning to book one of the Australia hotels tomorrow using the Avios points we've been collecting for years- we can easily use them to clear two night stay at Hervey Bay before the Fraser Island trip which will save us 200 & we'll then see what we've got left and if can use them at another stop in Aus- keep the costs down hopefully
    2018 MFW #20 - OP 1465.85/ 3000 49%
    Mar: 218 Apr: 528.91 May: 27.31

    Emergency fund 4.2k/ 6k
    Mortgage Oct '16 170.995 LTV 90% end: Nov 2041
    Overpayments 2016 255.50 2017 2600.40
    • themadvix
    • By themadvix 9th May 18, 10:26 AM
    • 1,638 Posts
    • 9,595 Thanks
    themadvix
    I've not had a PC survey in aaages... I think they don't like me any more!

    Using your Avios for a hotel stay sounds like a good plan! Do you keep up with Head for Points for the best ways to spend them?
    OPs 2017 = 3103
    S&S ISA 2017 = 626
    OPs 2016 = 6142.12
    Starting balance 2012: 132000; balance Dec 2017: 96,822
    MFW2017 no. 38
    • Kittenkirst
    • By Kittenkirst 10th May 18, 4:25 AM
    • 1,885 Posts
    • 10,108 Thanks
    Kittenkirst
    Ooooh Vix I didn't know about that 'Head for Points' site- I'm having a read now- we haven't yet booked that hotel as Work/gym:yoga has taken over a bit the last few days but will this weekend.

    With Pinecone I found it was quiet for a few months and then I'm again getting at least two a month and got to try a nice yummy product last month as well. Weird how it works! I've been very lazy with Prolific- everytime I remember to check there are either no surveys or non compatible with smart phones so not for me. Booo

    On that note the Pinecone reward has been credited on Pinecone so I've requested the withdrawal

    Had a good bargain shop after yoga tonight at my local tesco- needed skimmed milk, coffee milk, sweeteners etc but managed to get some green grapes for 31p, 2 different four packs of graze snack packs for 30p each (one peanut for gf, one beetroot for me), two packs of Thai fish sliders for 1.20 each (pretty lean meat for the food plan!) which are now frozen nicely and also got a new milky bar reduced sugar chocolate and claimed cashback from Shopmium (I really liked the milky bar I must say- scoffed it in seconds whilst watching Law & Order in bed )

    I also managed to pick up three lots of sweetners as they were less than half price for our usual brand (& therefore cheaper than tesco own brand) and some other bits and bobs we needed. It was chaos in there though as some rather rowdy/pushy behaviour near the yellow sticker stuffs

    Off to Manchester this morning but I can't sleep following my usual wake up snuggle demands from Hugo- I had hoped he would grow out of it but he now gets under the covers and snuggles up purring loudly and padding with his paws on my arm/yummy. It's incredibly adorable but blinkin shattering.

    My back is feeling tonnes better and my step count is back up still which I'm pleased with, as well as having a fantastic first yoga class yesterday following the injury so all going pretty well, however my abs feel like someone's torn me after doing 36 bench leg raises on Monday night in the gym- hurts to giggle too much!

    Managed to get a free flat white with vanilla syrup before yoga today too using my loyalty card I was at our other office today so managed to leave my car there and walk into town- only 30min walk- in the sunshine and then walk back after. Popped some tunes on and enjoyed the weather/walk and very much enjoyed the free coffee whilst I mooched in fat face/the white stuff dreaming of holiday wardrobes and the sale shopping to come later in the summer (:P) What a treat!

    Off to catch up with some diaries seeing as I can't settle back to sleep!
    Last edited by Kittenkirst; 10-05-2018 at 4:39 AM.
    2018 MFW #20 - OP 1465.85/ 3000 49%
    Mar: 218 Apr: 528.91 May: 27.31

    Emergency fund 4.2k/ 6k
    Mortgage Oct '16 170.995 LTV 90% end: Nov 2041
    Overpayments 2016 255.50 2017 2600.40
    • Kittenkirst
    • By Kittenkirst 10th May 18, 4:35 AM
    • 1,885 Posts
    • 10,108 Thanks
    Kittenkirst
    Pensions is definitely an area we need to be more focused on.
    Originally posted by CathT
    CathT totally me too- I've not got that much knowledge on the subject but for the moment- I'm 34- im paying in the maximum (5%) that my company double and then topping up an additional voluntary amount (AVC) of 1%. Alongside my very small LISA contribution I think this is sufficient for the time being alongside clearing down the Mortgage.

    I have an old pension fund sat at 19k from when my company changed providers, and my current one is approx 23k (according to my calculations anyway) so they are slowly building but the amount needed to save in comparison to what you get is scary!

    I'm planning to start putting a nominal amount into premium bonds monthly from mid year to be another long term savings stash so that I have a few pots/areas that I can (hopefully) depend on at retirement.

    I'll look to review options a bit more in detail next year as will have another 30+ years of work potentially from the age of 35
    2018 MFW #20 - OP 1465.85/ 3000 49%
    Mar: 218 Apr: 528.91 May: 27.31

    Emergency fund 4.2k/ 6k
    Mortgage Oct '16 170.995 LTV 90% end: Nov 2041
    Overpayments 2016 255.50 2017 2600.40
    • themadvix
    • By themadvix 14th May 18, 8:44 AM
    • 1,638 Posts
    • 9,595 Thanks
    themadvix
    I'm with you on the morning cat snuggles... adorable, but... I want more sleep! (We don't even let them in, but B&W kitty starts scratching the carpet outside our door when he decides it's time to wake up.... and when we let him in he miaows loudly in our face and then burrows his head into my neck, paw on face, licks whatever skin he can find.... I know it's because he's missed me, but....!

    Head for points is a really interesting read for snippets about ccs etc.

    Hope you had a good weekend - your gym schedule leaves me feeling exhausted just reading about it!
    OPs 2017 = 3103
    S&S ISA 2017 = 626
    OPs 2016 = 6142.12
    Starting balance 2012: 132000; balance Dec 2017: 96,822
    MFW2017 no. 38
    • Kittenkirst
    • By Kittenkirst 14th May 18, 2:36 PM
    • 1,885 Posts
    • 10,108 Thanks
    Kittenkirst
    Not much to report from me in the tumbleweed days before payday (tomorrow). We've spent a lot more on groceries this month with following a stricter meal plan- we're getting used to it and finding other alternatives to try and keep the costs down, as well as now we know the types of things to eat being savvy with ys shopping- e.g Saturday we found asparagus YS, a cauliflower base pizza (not having that again!) and some nice fruit.

    Went to the gym this morning and had a workout with the gf- coach has put in a once a week joint session which was good fun and quite motivating so I'm glad we have that now working from home today so NSD should be had. Off to help gfs parents paint a bedroom tonight ready for the flooring to go in later in the week....which means we have to build more flatpack wardrobes and another bed early next week :/

    Good news is we have a week off next week so have booked into a few laser eye clinics for consultations. Gfs medical conditions may cause issues though as once place have flat out refused (despite her having documentation from her consultant that it is all fine to do and safe!) we will see what they all say.

    Gfs sharesaves pay out on june- the little squirrel has bagged more than 10k away over the years so she is looking forward to covering some of the Australia/Singapore trip and then putting a bit stash into easier access savings she puts my 4k savings to shame
    2018 MFW #20 - OP 1465.85/ 3000 49%
    Mar: 218 Apr: 528.91 May: 27.31

    Emergency fund 4.2k/ 6k
    Mortgage Oct '16 170.995 LTV 90% end: Nov 2041
    Overpayments 2016 255.50 2017 2600.40
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