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  • FIRST POST
    • ajmoney
    • By ajmoney 5th Aug 16, 10:50 AM
    • 4,912Posts
    • 55,788Thanks
    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 6127.06/6000
    MFiT-T4 No. 70 33459.38/29544 35544.16
    Mortgage 103838.33 Savings 90207.71
    Total left to pay/save 13630.62
Page 14
    • jodles16
    • By jodles16 8th Sep 18, 6:59 PM
    • 1,369 Posts
    • 4,155 Thanks
    jodles16
    Hi ajmoney,


    I am so impressed with your amazing savings! Not too much to go now!


    Sorry you are struggling with anxiety/stress/panic, they all sit together in a group and are particularly good at what they do! Glad you have reached out, I think that once you can understand what the symptoms mean it makes it easier to challenge the way you think and what you do (the CBT type model!)!


    Best of luck,


    Jodles
    MFW2017 #29 1200.24/4524
    MFiT #66
    Overall aim 10,124.20/21,743 (156,000)
    2016- Jan-177,472, Apr-173,195.04, July- 171,417.47 Oct- 169,366
    2017- Jan- 167,347.80 Apr- July- Oct-

    • ajmoney
    • By ajmoney 30th Sep 18, 4:19 PM
    • 4,912 Posts
    • 55,788 Thanks
    ajmoney
    Phone upgrade time here. I have got the phone I wanted for 4 extra a month, no upfront cost and an extra 3GB of data a month, I have haggled 3 off the advertised cost. It may not be a massive win compared to what some manage on here but I am happy with it.

    In a month or two I need to take stock of what is going on moneywise and check I am moving in the right direction for my own life plans. There are some pretty big decisions on the horizon for me which I have been burying my head in the sand with and putting off. Once I move forward with these I can hopefully move forward with everything else.
    2018 MFW No. 70 6127.06/6000
    MFiT-T4 No. 70 33459.38/29544 35544.16
    Mortgage 103838.33 Savings 90207.71
    Total left to pay/save 13630.62
    • ajmoney
    • By ajmoney 8th Oct 18, 11:24 AM
    • 4,912 Posts
    • 55,788 Thanks
    ajmoney
    Trying to be ruthless while sorting out my clothes. I don't wear all this stuff so why is it so difficult?
    2018 MFW No. 70 6127.06/6000
    MFiT-T4 No. 70 33459.38/29544 35544.16
    Mortgage 103838.33 Savings 90207.71
    Total left to pay/save 13630.62
    • ajmoney
    • By ajmoney 24th Oct 18, 6:40 AM
    • 4,912 Posts
    • 55,788 Thanks
    ajmoney
    Been awake for ages so doing some research into new cars. I have been promising myself a change for my milestone birthday in February and have been torn between something fun with a price tag to match or a practical replacement. My sister's MOT is due in December and car likely to fail so I am wondering about not part exing my car and giving it to her as there is no way she can afford to sort it out or buy a new one. Never likely to repaid, paid off her @migo loan earlier this year and she is not in a position to pay it back. Am I crazy for thinking of doing this?
    2018 MFW No. 70 6127.06/6000
    MFiT-T4 No. 70 33459.38/29544 35544.16
    Mortgage 103838.33 Savings 90207.71
    Total left to pay/save 13630.62
    • A Frayed Knot
    • By A Frayed Knot 24th Oct 18, 7:51 AM
    • 2,518 Posts
    • 11,250 Thanks
    A Frayed Knot
    Sometimes we just have to splurge out, and treat ourselves.

    As for helping your sister, we do it because we are nice, I have the same with my DB, and help out when in need, and that has been a lot in the past. One thing to be grateful for is that having paid his mortgage for 2 years (I did get quite a lot of that back eventually) it made me realise I could afford a mortgage after all.


    Need to rush off to work, back later.
    Always have 00.00 at the end of your mortgage and one day it will all be 0's
    Target 12 months 12/24 (missing out no.13)
    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 27th Oct 18, 1:37 PM
    • 4,912 Posts
    • 55,788 Thanks
    ajmoney
    I am just leaving this here as a reminder for me

    "fix the problem instead of managing the symptoms"

    currently suffering a little from anxiety or panic, not sure which, if I'm honest I probably have been for quite a while (at least a year) and used to use exercise to help control it and escape from it. Maybe I need to look at this a different way hence the quote above!
    Originally posted by ajmoney
    Another reminder to myself as things start coming to a head. It has taken me so long to truly deal with things that the lines are becoming blurred between the problem and the symptoms. It is so easy to continue down an unhappy path when it is the easy option.
    2018 MFW No. 70 6127.06/6000
    MFiT-T4 No. 70 33459.38/29544 35544.16
    Mortgage 103838.33 Savings 90207.71
    Total left to pay/save 13630.62
    • ajmoney
    • By ajmoney 28th Oct 18, 9:06 AM
    • 4,912 Posts
    • 55,788 Thanks
    ajmoney
    So, here it goes...

    After 7 years of marriage and 14 years together Mr AJM and I are separating. For nearly a year I have had a feeling this might be where we ended up and hoped that living at home again would be enough but it was not to be. This is made worse by the fact it is all from my side (I feel like the ogre) but my health both mental and physical has been suffering from being in limbo and not making any decisions. Things are amicable and we have been quite practical so far discussing what we need to do in the house to sell it, luckily not too much. I have somewhere I can stay although it is not very nice, he has seen the pics and is distraught as me at me having to stay there. I am still in the house at the moment although I think it blurs the lines too much so it may be the case that I live away through the week and come here at the weekends. I am trying to remember it won't be forever and once the house has been sold I can look for something else.

    Unsure how things are going to be from a money point of view. We have no idea how long it might take for the house to sell but aim to get it on the market before Christmas. We need to discuss later whether we continue to OP until it sells or individually start putting the money aside. Mortgage interest is 1.68% (the one we OP on) and 2.68% and we certainly don't get that back in our savings accounts.

    This is still very fresh and while I worry that a bit of distance may make me see things in a clearer light the distance is what has made us drift apart and make me think differently so I know in the long term it is for the best. Some of my close friends know this was on the cards but we haven't told anyone it has happened yet. I am not looking forward to that.
    Last edited by ajmoney; 28-10-2018 at 10:39 AM.
    2018 MFW No. 70 6127.06/6000
    MFiT-T4 No. 70 33459.38/29544 35544.16
    Mortgage 103838.33 Savings 90207.71
    Total left to pay/save 13630.62
    • Mortgage Minimiser
    • By Mortgage Minimiser 28th Oct 18, 9:17 AM
    • 96 Posts
    • 452 Thanks
    Mortgage Minimiser
    Thinking of you at this painful and stressful time.

    Remember to be kind to yourself and look after you as the priority. Other people can loo after their own feelings.

    Virtual hug from me.
    xx
    2016MFW#46 O'Pd-104%; 2017 MFW OP'd 7779.28
    MFiT-T4 # 59 - reduce mtg to 195,000 (60% LTV)
    Mortgage at start (01/2/2015) - 243,750.
    Mortgage at 31/12/15 - 235,906.71.
    Mortgage @ 31/12/16 - 224,120.98
    Mortgage @ 31/12/17 - 210,224.06 (now 191,499.77)
    • A Frayed Knot
    • By A Frayed Knot 28th Oct 18, 10:25 AM
    • 2,518 Posts
    • 11,250 Thanks
    A Frayed Knot
    Sorry to hear your news, but takes a lot of courage to finally face up to to what you feel is the right thing to do for your own health and sanity.

    It's good your friends kind of knew and that they are there to help and support you. A difficult time but people change and move on, you have lots going on, so take time for yourself, and as MM says - look after yourself.

    Dodgy hug from me Xx
    Always have 00.00 at the end of your mortgage and one day it will all be 0's
    Target 12 months 12/24 (missing out no.13)
    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 28th Oct 18, 5:04 PM
    • 4,912 Posts
    • 55,788 Thanks
    ajmoney
    I have been reading up on divorce in Scotland today. As things go we have an easy situation so are happy to sort the finances ourselves and then use the simplified divorce procedure in a year. I have been trying to find if there is anything official we need to do for a separation date but it appears not. I know there is the ability to separate and continue living in the same house, while I don't intend this to be the case the whole time I have been trying to find exactly what the stipulations are, I haven't yet found a definitive but I am sure I will.

    We stayed in the same room last night however today I have sorted out a bed in one of the spare rooms and as much as I love my own bed I will sleep in there when I am here. For now I am leaving my stuff in "our" room as there is more storage. Mr AJM is working most evenings this week so I am staying here, after next weekend I will see how things are and if need be (probably) start staying at work. If I don't it is like things have never changed and will only become tougher as things go on. I wish I had thought a little bit more about all this before last week's counselling session as I would like to have asked advice on some of the practical things, back there on Friday so will write them down as I think of them.

    Thanks for the comments earlier. I haven't told anyone in real life yet, it is certainly not something I intend to broadcast but immediate family is going to need to know with the festive season around the corner.
    2018 MFW No. 70 6127.06/6000
    MFiT-T4 No. 70 33459.38/29544 35544.16
    Mortgage 103838.33 Savings 90207.71
    Total left to pay/save 13630.62
    • Moneyfordreams
    • By Moneyfordreams 28th Oct 18, 9:17 PM
    • 1,143 Posts
    • 5,674 Thanks
    Moneyfordreams
    sending you best wishes, sometimes making a decision is the hardest part
    Mortgage restart June 2018 119950
    zero personal cc
    6x166 for sofas ending November 2018
    2500 on DD1s car cc
    • ajmoney
    • By ajmoney 1st Nov 18, 4:18 PM
    • 4,912 Posts
    • 55,788 Thanks
    ajmoney
    500 OPd to the mortgage, we have agreed that it makes sense to continue OPing. TBH this is the first chance we have has to discuss anything since Saturday and I was starting to think I had imagined everything as we have both been so busy separately. next counselling session tomorrow so need to see if I have any practical things to discuss as I only have 2 sessions left.

    My S&S ISA has taken a huge dip this month meaning my overall wealth has suffered
    2018 MFW No. 70 6127.06/6000
    MFiT-T4 No. 70 33459.38/29544 35544.16
    Mortgage 103838.33 Savings 90207.71
    Total left to pay/save 13630.62
    • ajmoney
    • By ajmoney 1st Nov 18, 9:05 PM
    • 4,912 Posts
    • 55,788 Thanks
    ajmoney
    Blimey, typing and untyping on here to try and make sense of things. Glad I have a counsellor session tomorrow to get some understanding and help on how to approach some of the things that need to be done.
    2018 MFW No. 70 6127.06/6000
    MFiT-T4 No. 70 33459.38/29544 35544.16
    Mortgage 103838.33 Savings 90207.71
    Total left to pay/save 13630.62
    • ajmoney
    • By ajmoney 7th Nov 18, 8:19 AM
    • 4,912 Posts
    • 55,788 Thanks
    ajmoney
    Why am I thinking of getting a car loan when I have over 38k in my S&S ISA? With everything that is going on and the prospect of getting a mortgage by myself on the horizon I think it makes sense to pay for a car outright so I have the full set of options open to me for a mortgage when the time comes. It also means I can continue OPing the mortgage as we are until we sell the house as I won't need the money monthly to pay off a loan. The plan was always to get a new car in February but if I am going to help my sister I need to do this sooner so going to do some car window shopping today.

    Mr AJM had an appointment yesterday to see how much of a mortgage he can get. I am going to wait for this until the house is on the market as I don't need to but a house as urgently as him. I am going to seek financial advise on my S&S ISA and the funds that are paid from it and make sure I am making the most of my money.

    I have today off work and for the first day in a long time I am taking the whole day off and not popping into the office to try and get on top of things. I have a fairly hefty jobs list which I am going to do my best to get through so here it goes.
    2018 MFW No. 70 6127.06/6000
    MFiT-T4 No. 70 33459.38/29544 35544.16
    Mortgage 103838.33 Savings 90207.71
    Total left to pay/save 13630.62
    • ajmoney
    • By ajmoney 7th Nov 18, 12:23 PM
    • 4,912 Posts
    • 55,788 Thanks
    ajmoney
    How many of you have looked into the whole PPI thing? It seems silly not to check but I don't want to pay these rip of companies to give me my money. Think I need to go and read Martin's tips and see where it gets me.

    Also on my money list is to sell 2 or 3 old phones and sort out my ISA. Off to procrastinate my other jobs by doing some of this!
    2018 MFW No. 70 6127.06/6000
    MFiT-T4 No. 70 33459.38/29544 35544.16
    Mortgage 103838.33 Savings 90207.71
    Total left to pay/save 13630.62
    • A Frayed Knot
    • By A Frayed Knot 10th Nov 18, 12:06 AM
    • 2,518 Posts
    • 11,250 Thanks
    A Frayed Knot
    Have thought about the ppi thing often, but not for me (never had a loan, etc,etc), for my mum, and I have all the paperwork from a rogue company
    Just need to locate paperwork and I'm up and running.

    Sounds like your getting sorted out. Was last session productive?
    Always have 00.00 at the end of your mortgage and one day it will all be 0's
    Target 12 months 12/24 (missing out no.13)
    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 10th Nov 18, 4:44 PM
    • 4,912 Posts
    • 55,788 Thanks
    ajmoney
    I am convinced I have never had PPI but have had loans, after looking at Martin's advice I wonder if I should just pay someone...I am a little lazy!

    The last session was ok, it was just talking over a couple of things but now I have made my decision and acted on it there is not so much to talk about and work through. Things are progressing slower than I would like but Mr AJM says he is going to tell his family tomorrow so that may help, then I can stop lying at work. I have my rings on to stop any awkward questions but it just means I am lying to myself. We talked earlier about me staying here, he is happy as things are but I need to make sure me being here isn't confusing things. I am still considering him in a lot of my decisions which is to be expected after 14 years together, I have the whole of next weekend off so may make a plan to do something on the Sunday just for me if we don't use the day to do some touch ups in the house.
    2018 MFW No. 70 6127.06/6000
    MFiT-T4 No. 70 33459.38/29544 35544.16
    Mortgage 103838.33 Savings 90207.71
    Total left to pay/save 13630.62
    • edinburgher
    • By edinburgher 10th Nov 18, 6:23 PM
    • 11,267 Posts
    • 60,450 Thanks
    edinburgher
    Sorry to hear your news ajmoney (because even an amicable divorce will entail a lot of work and a degree of stress), but pleased to hear your news because I get the feeling that a lot of the reasons that have led to the decision have been bubbling under the surface for a while. Here's to the next stage of your life and lots more happiness to come
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