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    • Schoolworker
    • By Schoolworker 15th Nov 16, 1:14 PM
    • 287Posts
    • 610Thanks
    Aim to get mortgage down before increasing again
    • #1
    • 15th Nov 16, 1:14 PM
    Aim to get mortgage down before increasing again 15th Nov 16 at 1:14 PM
    Hiya I had joined years back but in the last year been reading most of the diaries re trying to get your mortgage. I have been overpaying the mortgage for the last ten years and managed to overpay over £20k. I want to note my progress as trying to get mortgage down as much as possible before borrowing more money for a 2 Storey extension.

    We moved into our 3 bed detached 6years ago and had a mortgage of roughly £110 but to date I have managed to get this down to £60450 approx. I am overpaying £200 per month as this is ok does not affect family life otherwise husband would say something but he is happy that I am doing this. Trying to continue to put more money into our savings so that we have some money to contribute to the extension cost as well as trying to get the mortgage down to £58k or lower.

    I'm 42 with Hubble 39 and 2 kids 9 and nearly 5. We are awaiting to hear if we have planning for the rear extension and then will have to see if passed by building control afterwards and then approach our mortgage lender to see if they will allow us extra borrowing of roughly £60k. This will take up up to a higher figure than I would like but I will plod along and see how it goes,

    We are on a 5yr fixed which we took out last June at a rate of 2.34%.

    Been doing Tilly tally every Sunday and it all adds up and will transfer the extra money to the mortgage and see what else I can do to bring it down before we have to increase.

    Will try to keep you posted.
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    • Schoolworker
    • By Schoolworker 15th Sep 18, 8:43 AM
    • 287 Posts
    • 610 Thanks
    Well managed to put a bit in the savings last Tuesday to build back up the savings again. Today we are off to the next village for the scarecrow events - should be good as craft fair, farmers market, cafe and the walk about to see the scarecrows. Just hope it stays dry most of the day.

    Daughter who is 11 came in the other day to see that a big group of the p7 kids are meeting up at the park, now it’s moved onto 5he local bowling and then over to McDonald’s. She is going but had a long group chat with the mums and all say we need to try to release the reins on them. So need to come back from scarecrow event about 3.30pm to head to the bowling for daughter.

    Tomorrow we are going to a trampoline party for nephew in the afternoon and then to friends house who hubbie is moving to America next weekend for work. His wife will join him later after having an operation. Busy weekend.

    Next week I have only to work 2 days as off Friday and we are going for our usual September weekend trip to Largs. I hope it stays dry.
    • Schoolworker
    • By Schoolworker 15th Sep 18, 8:45 AM
    • 287 Posts
    • 610 Thanks
    Garden at a standstill for over a week so will be speaking to the builder. I know our job is small in comparison to the next door neighbour but thought more would have been done and I am trying to be patience. Will no doubt see him Monday and find out what happening even though I spoke to him last Monday and was advised that stuff would be done this week. Moan over.
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