Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • ajmoney
    • By ajmoney 5th Aug 16, 10:50 AM
    • 4,901Posts
    • 55,756Thanks
    ajmoney
    Project Mortgage Neutral Begins
    • #1
    • 5th Aug 16, 10:50 AM
    Project Mortgage Neutral Begins 5th Aug 16 at 10:50 AM
    Hi. We have just remortgaged on our larger product and while mortgage freedom is still the ultimate goal I am working on the smaller challenge of mortgage neutral first.

    We have a smaller mortgage that we transferred when we moved 5 years ago and a larger mortgage that topped it up.

    Mortgage 1

    Total 32097.21
    Interest 2.68%
    Redemption Date Februray 2030
    This is a tracker mortgage, we are not tied into anything but the deal is so good that unless things change substantially I don't intend to change this.

    Mortgage 2

    Total 103615.51
    Interest 1.74%
    Redemption Date February 2030
    This a tracker mortgage too with the current deal ending in August 2018.

    First and foremost I want to get rid of the larger mortgage even though it has the lower interest rate as it is the biggest debt and is the one product we have that could be a struggle if we ever got stupid interest rates.

    We are due to hit mortgage neutral in July 2021. This is worked out with all our mortgage rates staying the same and not receiving any interest on our savings. I am hoping the fluctuations in these will even each other out.

    While Mr AJM is happy to reach mortgage neutral, mortgage free and therefore retire early this a solo journey with it all being my effort. We haven't changed our lifestyle at all so there are always other things we can do but this is not so important to us at the moment.

    I will add more as the next few days go by. Recently I have been guilty of ignoring my thread but I am hoping starting a new thread will get me on here a little bit more.
    2018 MFW No. 70 5627.06/6000
    MFiT-T4 No. 70 32445.85/29544 35544.16
    Mortgage 105022.51 Savings 92565.13
    Total left to pay/save 12457.38
Page 12
    • ajmoney
    • By ajmoney 12th Jan 18, 2:51 PM
    • 4,901 Posts
    • 55,756 Thanks
    ajmoney
    I nearly didn't go out for a walk but I am so glad I did. The weather was lovely, not too cold. I tried to go out as if seeing the views for the first time, took some photos, saw a few birds and then walked back chatting to a lovely lady.

    I have an hour to myself and am going to read some more of my book before the weekend starts.
    2018 MFW No. 70 5627.06/6000
    MFiT-T4 No. 70 32445.85/29544 35544.16
    Mortgage 105022.51 Savings 92565.13
    Total left to pay/save 12457.38
    • ajmoney
    • By ajmoney 28th Jan 18, 6:36 PM
    • 4,901 Posts
    • 55,756 Thanks
    ajmoney
    16 days away from my thread...it has been a little hit and miss with making time for myself every day but generally it has been ok. Stress levels rose slightly last week when I realised how busy the summer months are going to be at work and wondering how to organise and plan everything so need to be mindful of this and refocus the me-time.

    House insurance is up for renewal in just under a month, for the third year in a row our renewal quote is cheaper but they have quoted two prices so I have sent an email to clarify, either way we will be staying with them. Next on my list is the gas and electricity as our current deal ends at the end of February.

    Very undecided on a large OP to the mortgage due to our circumstances but maintaining a minimum OP of 500 a month (more in council tax free months and when we find a little) but the rest I have free I am putting into my savings until I am more aware of what lies ahead.
    2018 MFW No. 70 5627.06/6000
    MFiT-T4 No. 70 32445.85/29544 35544.16
    Mortgage 105022.51 Savings 92565.13
    Total left to pay/save 12457.38
    • ajmoney
    • By ajmoney 2nd Feb 18, 8:25 PM
    • 4,901 Posts
    • 55,756 Thanks
    ajmoney
    I have treated myself to a f!tbit today and after weighing myself to set it up it seems I need it! I am struggling to start doing exercise at the moment, once I am doing it I enjoy it so this should hopefully help me. I am also hoping it will help me get my sleep pattern back on track. Just waiting for it to update...it is taking a while.
    2018 MFW No. 70 5627.06/6000
    MFiT-T4 No. 70 32445.85/29544 35544.16
    Mortgage 105022.51 Savings 92565.13
    Total left to pay/save 12457.38
    • ajmoney
    • By ajmoney 18th Feb 18, 9:42 AM
    • 4,901 Posts
    • 55,756 Thanks
    ajmoney
    Mortgage news, seeing as this is meant to be a diary about that...today is our mortgage birthday and without any OPs we would be mortgage free 12 years today, I am intending on that being in 3 years and 5 months (July 2021) instead. As it stands at the moment I don't plan to make a large OP to clear the big mortgage yet, we remortgage in August so I am going to wait until nearer the time and see how the different LTV ratios will work with a new deal. I have an OP schedule which I am sticking to and am saving as much of the rest of my money as possible.

    Our home insurance has been renewed today and the extra that I had saved has been OP'd.
    2018 MFW No. 70 5627.06/6000
    MFiT-T4 No. 70 32445.85/29544 35544.16
    Mortgage 105022.51 Savings 92565.13
    Total left to pay/save 12457.38
    • A Frayed Knot
    • By A Frayed Knot 18th Feb 18, 9:53 AM
    • 2,485 Posts
    • 11,146 Thanks
    A Frayed Knot
    Happy mortgage birthday !!!

    Our mortgage birthdays are very close to each others the 29th Feb for me and had I not made any o/p's should have been finishing the mortgage 12 years from the end of the month and as we all know - that's not going to happen Target 23 months for me.
    Always have 00.00 at the end of your mortgage and one day it will all be 0's
    Target 14 months 10/24
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • ajmoney
    • By ajmoney 18th Feb 18, 5:01 PM
    • 4,901 Posts
    • 55,756 Thanks
    ajmoney
    Happy mortgage birthday !!!

    Our mortgage birthdays are very close to each others the 29th Feb for me and had I not made any o/p's should have been finishing the mortgage 12 years from the end of the month and as we all know - that's not going to happen Target 23 months for me.
    Originally posted by A Frayed Knot
    How much do you have left to pay off? It might help spur me on to work at a quicker rate
    2018 MFW No. 70 5627.06/6000
    MFiT-T4 No. 70 32445.85/29544 35544.16
    Mortgage 105022.51 Savings 92565.13
    Total left to pay/save 12457.38
    • A Frayed Knot
    • By A Frayed Knot 20th Feb 18, 10:41 PM
    • 2,485 Posts
    • 11,146 Thanks
    A Frayed Knot
    How much do you have left to pay off? It might help spur me on to work at a quicker rate
    Originally posted by ajmoney

    By end of March, probably April I will be down to 4 figures by a 1 but at the lower end of the salary scale which is why I eb@y, etc, etc.


    I am sure you can bring that target of yours forward, crunch the numbers and see what you have to o/p/save each month to cut your target by . . . say Dec 2020 . . . sounds a nice date to me


    http://www.whatsthecost.com/snowball.aspx
    Always have 00.00 at the end of your mortgage and one day it will all be 0's
    Target 14 months 10/24
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • ajmoney
    • By ajmoney 18th Mar 18, 11:21 AM
    • 4,901 Posts
    • 55,756 Thanks
    ajmoney
    Nearly a month since I last posted, I'm not even sure what my excuse is!

    This week has been interesting, addressing and trying to decide where I would prefer to work from the summer. I had a meeting with one of my superiors on Wednesday to discuss the possibilities as it is really between 2 locations. Until Thursday my gut instinct had been to continue to work away from home as the work is more enjoyable, however I have started having a change of heart. I will be requesting I work near home again (it will have been 4 years since I have had the opportunity to live at home) but I will need to make a big effort to do soemthing with my life away from work which I find quite tough. I have many things, mainly exercise based, that I would like to pursue but would be looking to find groups to do these or I am at risk of feeling quite lonely and alone.

    I have made a few lists (I love lists) so I can get some of the things done around the house that annoy me so it is as smooth a transition as possible when I move back home. We have a lovely home but don't really give it any love or attention so I am trying to address this, which may lead to me being a little more DIY minded.

    This will all be timed with remortgaging our house in August so I have a few plans to decide on with this as well as do my own financial review as we will have to adjust to a slightly different approach to our household finances.
    2018 MFW No. 70 5627.06/6000
    MFiT-T4 No. 70 32445.85/29544 35544.16
    Mortgage 105022.51 Savings 92565.13
    Total left to pay/save 12457.38
    • ajmoney
    • By ajmoney 18th Mar 18, 11:43 AM
    • 4,901 Posts
    • 55,756 Thanks
    ajmoney
    This may seem like a bizarre question, but what do you all do when you are having a stay-at-home day? I am not very good at sitting around doing nothing and so get very irritable and stressed out. I guess I need to find a pasttime...
    2018 MFW No. 70 5627.06/6000
    MFiT-T4 No. 70 32445.85/29544 35544.16
    Mortgage 105022.51 Savings 92565.13
    Total left to pay/save 12457.38
    • A Frayed Knot
    • By A Frayed Knot 18th Mar 18, 6:24 PM
    • 2,485 Posts
    • 11,146 Thanks
    A Frayed Knot
    Like yourself - don't sit about much, always loads to do, so I just get on with it. I do remember once when everything was complete and finished (that's when I had a 1 bed flat) no housework, cooking, cleaning, ironing etc etc to be done, and I sat down, turned the telly on - and there was a friendly match on for curling.

    Now I don't go out of my way to follow or watch this, but I had a fantastic afternoon - really enjoyed it and still speak of it as one of my favourite relaxing afternoons.


    Don't have much time for that now.


    Sounds good you working from home - that way you can get into a routine of it actually being your home and not just a place to stay when your not working. Good Luck.


    Think I'll miss my target getting mortgage down to 5 figures by end of March, just back from mini break abroad and booked another for this Friday abroad.
    Always have 00.00 at the end of your mortgage and one day it will all be 0's
    Target 14 months 10/24
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • EatingTheElephant
    • By EatingTheElephant 18th Mar 18, 8:48 PM
    • 1,336 Posts
    • 7,277 Thanks
    EatingTheElephant
    There is always a never ending stream of tasks here, but if at home I find it relaxing to read a book.
    • ajmoney
    • By ajmoney 18th Mar 18, 9:00 PM
    • 4,901 Posts
    • 55,756 Thanks
    ajmoney
    There is always a never ending stream of tasks here, but if at home I find it relaxing to read a book.
    Originally posted by EatingTheElephant
    I finished a book I had been reading for ages last night. I wasn't going to start my next one for 2 weeks until we start our holidays but have just had a bath and read the first chapter, I have to be somewhere quiet while the scene is set! I have a few books by my bed at work, some have been started so need to play catch up. Mr AJM likes watching tv and would watch it all day but unless it is something that interests me it just irritates me. I figure if I get absorbed enough in the plot I can read alongside him while he watches the tv. I may as well be somewhere else though, once I get into a book I have to keep reading it until I have finished it...one holiday many years ago I read 12 books in a week, I may have gone away with someone who's company I realised I didn't enjoy though
    2018 MFW No. 70 5627.06/6000
    MFiT-T4 No. 70 32445.85/29544 35544.16
    Mortgage 105022.51 Savings 92565.13
    Total left to pay/save 12457.38
    • ajmoney
    • By ajmoney 13th Apr 18, 11:55 AM
    • 4,901 Posts
    • 55,756 Thanks
    ajmoney
    Nearly another month without posting...ooops!

    Moneywise I am feeling frustrated with the slow moving of my savings and the mortgage so I maybe need to spend some time sitting and working out what I want from them and then see if I can achieve it. Things are still progressing in the right direction though.

    Still in a tough place, not sure where or how to move forward at the moment but I am starting to realise that doing nothing and hoping life will take care of decisions is not the way to resolve things.
    2018 MFW No. 70 5627.06/6000
    MFiT-T4 No. 70 32445.85/29544 35544.16
    Mortgage 105022.51 Savings 92565.13
    Total left to pay/save 12457.38
    • ajmoney
    • By ajmoney 7th May 18, 10:16 AM
    • 4,901 Posts
    • 55,756 Thanks
    ajmoney
    After a lot of uncertainty I finally found out on Monday that I will be relocating with my job in September and will be living at home again after 4 years. I am unsure whether this will provide job satisfaction, I left this location unhappy with things so it will take a while to get used to it but did have a conversation with someone from there on Friday and feel slightly more reassured by some of the people who will be there to work alongside. It will be a strange work situation for 4 months but should ease me in gently...I hope. This may seem strange for others to understand but I truly live my job and have never been one for turning up, working and going home so I need to feel happy with where I am.

    It will take a while to settle in at home too, I am not sure how this is going to go and am incredibly nervous about it...

    I am doing the ground work to find groups I can join or things I can do once I return as I don't know anyone outside my working environment or Mr AJM's family (my family are at least 4 hous away) and this is definitely key for this move. I have an amazing social network where I am at the moment which I am going to try and preserve but am looking forward to hopefully recreating this at home too. Most of the things I am looking at are exercise related but I am slowly planning on working on the garden, working with what is there at first and then maybe doing something with it.

    We are due to remortgage in August so it will be a good time to reassess my/our finances.
    2018 MFW No. 70 5627.06/6000
    MFiT-T4 No. 70 32445.85/29544 35544.16
    Mortgage 105022.51 Savings 92565.13
    Total left to pay/save 12457.38
    • ajmoney
    • By ajmoney 1st Jun 18, 3:07 PM
    • 4,901 Posts
    • 55,756 Thanks
    ajmoney
    Attempted a bit of gardening this afternoon, apart from cutting the grass and digging stuff up I really haven't got a clue. I have made a start at getting rid of the grass that is in one of the flower beds. First step is to try and work out what the different plants are and how to cut them back properly. I am determined to get the front garden under control by the end of the summer while making a slow plan for the back. I found some grass weed and feed in a shop yesterday that gets rid of moss and apparently doesn't need raking, why didn't I find this a month ago!

    I love the first day of the month, so much fun seeing where I am financially from the beginning of May. The plan over the weekend is to finally decide how much of a lump sum to OP to the large mortgage, my signature below is quite exciting for mortgage vs savings. Seeing as we are now in the remortgage window it makes sense to work out what we are happy to part with, I will then do the sums to see how it will affect out payments and how soon we can be rid of both mortgages.

    I have also paid a loan off for my sister today, it had a huge interest rate and the plan is for her to pay me back. She was trying to do what she thought was right at the time while trying to improve her credit rating, she was getting quite demoralised by the amount she needed to pay back over the whole time so hopefully this way it will be gone quicker. I do have the worry of actually getting it all back but this is also safer for me as I was a guarantor and as I might be getting a loan next year I don't need any stumbling blocks in my way!
    2018 MFW No. 70 5627.06/6000
    MFiT-T4 No. 70 32445.85/29544 35544.16
    Mortgage 105022.51 Savings 92565.13
    Total left to pay/save 12457.38
    • Moneyfordreams
    • By Moneyfordreams 1st Jun 18, 3:19 PM
    • 1,112 Posts
    • 5,524 Thanks
    Moneyfordreams
    It's nice for you to help family... hopefully your worries will turn to pride in yourself and your sister
    Mortgage restart June 2018 119950
    zero personal cc
    6x166 for sofas ending November 2018
    2500 on DD1s car cc
    • ajmoney
    • By ajmoney 24th Jul 18, 7:12 PM
    • 4,901 Posts
    • 55,756 Thanks
    ajmoney
    Remortgage appointment booked for tomorrow, no large OP to go with it as originally planned as things are a little usettled and I would rather keep the savings in case I need them. Also going to try and haggle with $ky tomorrow then checking my SOA and making some financial plans with my own money. I seem to have taken my foot off the pedal with making my money work for me (partly down to a larger mortgage) but I want to make a real effort for the rest of the year.
    2018 MFW No. 70 5627.06/6000
    MFiT-T4 No. 70 32445.85/29544 35544.16
    Mortgage 105022.51 Savings 92565.13
    Total left to pay/save 12457.38
    • ajmoney
    • By ajmoney 1st Aug 18, 9:52 AM
    • 4,901 Posts
    • 55,756 Thanks
    ajmoney
    Aim No 1 - reduce the larger mortgage to 47k (need to OP an extra 80 over my plans)
    Aim No 2 - reduce both mortgages to under 100k in total (OP an extra 1500 I think)

    I will be reviewing my savings targets in September/October and will update that when I have come up with a plan.
    2018 MFW No. 70 5627.06/6000
    MFiT-T4 No. 70 32445.85/29544 35544.16
    Mortgage 105022.51 Savings 92565.13
    Total left to pay/save 12457.38
    • ajmoney
    • By ajmoney 1st Aug 18, 10:09 AM
    • 4,901 Posts
    • 55,756 Thanks
    ajmoney
    Obviously spurred on by a new mortgage and a new month/having been paid I have transferred the money left in my account at the end of July into my ISA.

    I am going to make a small money goal for each month for the rest of the year, something very achievable that maybe doesn't even stretch me but that keeps me focussed. Not sure what this month's one will be yet.
    2018 MFW No. 70 5627.06/6000
    MFiT-T4 No. 70 32445.85/29544 35544.16
    Mortgage 105022.51 Savings 92565.13
    Total left to pay/save 12457.38
    • ajmoney
    • By ajmoney 1st Aug 18, 11:05 AM
    • 4,901 Posts
    • 55,756 Thanks
    ajmoney
    Can anyone tell that I like the 1st day of the month? Already come up with my money aims for August.

    1. Sort out a new deal with $ky
    2. Track all my personal spends, it may be a spendy month compared to normal as I leave my current job at the end of the month so there will be a couple of leaving do's
    3. Complete OU managing money course that I started a while ago, an hour a day on each week day will be more than enough.

    I have had so much money moving between accounts the band probably wonders what on earth is going on! I need to see if there is an easier way of doing all this. Old fashioned paper and pen should help while I work this out and then I may work on some better spreadsheets than the ones I am using!
    2018 MFW No. 70 5627.06/6000
    MFiT-T4 No. 70 32445.85/29544 35544.16
    Mortgage 105022.51 Savings 92565.13
    Total left to pay/save 12457.38
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

82Posts Today

1,743Users online

Martin's Twitter