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
    • Schoolworker
    • By Schoolworker 15th Nov 16, 1:14 PM
    • 237Posts
    • 540Thanks
    Schoolworker
    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.
Page 9
    • Schoolworker
    • By Schoolworker 1st Apr 18, 8:47 AM
    • 237 Posts
    • 540 Thanks
    Schoolworker
    We finished up school me and the kids on Thursday. Friday we went to shops for daughter to spend some of her birthday money and get pokemon swim shorts for son swim lessons which he starts on Tuesday. Went swimming - only paid for daughter as son got junior membership due to swim lessons and I'm still. Member at the moment but this stops on begin of may. With sons membership we get a family swim free which will be great and used. We went to neighbour's house for takeaway night as we are friends and kids play well together.

    Today we are heading to a park for picnic Nd to roll our decorated hard eggs as it's Easter. Not sure what plans are for Monday as it looks like we are going to get snow in Scotland.

    Hubbie got paid so trying to sort out finances but credit card which we pay off every month is high over 1k but I think I have managed to pay this. Will need to rein this in next month as we can't continue with this.

    Hope to make a small overpaymemt for this month as we are away for a weekend to Aberdeen and need to get spend money for our (me and hubbie) long weekend in Portugal begin of may.
    • Schoolworker
    • By Schoolworker 3rd Apr 18, 11:24 AM
    • 237 Posts
    • 540 Thanks
    Schoolworker
    Well no snow lay so that was good. Easter Monday we went to indoor adventure golf which was good and then visited Nana and Papa so the kids could get their Easter eggs. They have 8 each at the moment and I know there is 2 more still to be given.

    Hubbie wanted to go to a Volkswagen garage to see car prices. Anyway there is a car that he likes due into the garage this week but I do not think we have enough money for this until may when he gets his work bonus but will see what happens. He is due to go for a test drive in a seat car on Wednesday after work which he could buy the now but I think he would prefer the Volkswagen. So need to see what happens over the next few weeks.

    Two more days until my wage goes into the bank and we have money again since all hubbie wages is allocated. Started putting some of the clothes we want to take for the weekend into the spare room and it will be easier to pack Inthe next few days.
    • Schoolworker
    • By Schoolworker 10th Apr 18, 8:38 AM
    • 237 Posts
    • 540 Thanks
    Schoolworker
    Just back from our weekend away to Aberdeen - kids loved it being in a hotel with its own pool - we usually do caravans or holiday houses so this was a bit different for them.

    On Saturday we spent the whole day with my brother who lives there - going to a museum, had lunch at his flat and then went to a paek. My brother and I had a drink back at the hotel whilst hubbie and kids went to the pool again before we went to harvester for dinner and then to the amusements for a bit.

    On Sunday we went to the park, science centre, another swim in the hotel pool before heading to friends who stay instpnehaben for dinner at their house. We met this couple about 8yrs ago on a caravan holiday and have kept in touch do this is the 2nd time we have met up since first meeting.
    • Schoolworker
    • By Schoolworker 10th Apr 18, 8:43 AM
    • 237 Posts
    • 540 Thanks
    Schoolworker
    Before we went away I managed to put a little money into the savings as well as do an overpayment to theortgage of 80. It's not much but it's all I can do at the moment.

    Hubbie really wants the Volkswagen car but it's still not in the garage and tried to get him to transfer money from his ISA but he has to go to the bsto get the money and put into the bank. He did not do this. I did transfer some of my money from ISA to bank so should have enough in bank and 0% credit card but not telling him this.

    When he hears from the garage he will need to go to transfer his part of money and I can square money up at the end of the month when his work bonus comes in.
    • Schoolworker
    • By Schoolworker 14th Apr 18, 8:27 AM
    • 237 Posts
    • 540 Thanks
    Schoolworker
    Hubbie phoned the garage mid week and car still not in but we put down a deposit on this as it's the only car style coming into Glasgow branch so it's reserved for us.

    Yesterday hubbie got word car was now in garage so he went to transfer money from ISA to current account to pay part of it and then use the 0% credit card for balance. He also got a letter to say what he is getting for his work bonus so just need to see what Mount of tax and no is taken off.

    Thinking of using most of it to pay down the cc balance and put a bit away in an account for our family holiday next year as we have said we will go abroad with them next year so this gives us a start.

    Kids going to Nana and papas today at lunchtime as they wanted them early as they are staying over tonight since we are off out with friends for dinner. Anyway we are heading to the garage for hubbie to see the car and test drive and I think he will buy it as it's the new style of the cat he is currently driving. Just need to see what trade in price we get for his car.
    • Schoolworker
    • By Schoolworker 14th Apr 18, 8:36 AM
    • 237 Posts
    • 540 Thanks
    Schoolworker
    This week the kids and I went to see Peter rabbit which was good. We also met up with my friend and her daughter to go to a trampoline place e and kids enjoyed it even though I thought it was hard for the youngest but he says he liked it. We just stayed in yesterday since it was a miserable day.

    So sleep over tonight and then back to normal on Monday to school which will be hard for us all.

    Son is liking his swimming lessons - only been twice.
    • Schoolworker
    • By Schoolworker 15th Apr 18, 6:08 PM
    • 237 Posts
    • 540 Thanks
    Schoolworker
    Went to see the car on Saturday and Hubbie had a test drive and liked it. So it's being processed for collection on Wednesday after work.

    Well that will be our savings drastically down as well as about 5k on the cc but it's 0% until Dec 2019 to pay it off which will be done. Will pay off a chunk of this when hubbie bonus comes through as there is balance on the cc at the moment. He got a really reasonable trade in price for his ciar even though it's done over 126000 miles.

    He is a bit more excited now - hurrah when we were out with friends for dinner on Saturday night. Not really done much today but feeling tired due too a late night on Saturday.
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

3,166Posts Today

6,236Users online

Martin's Twitter
  • I've decided my weekend starts here while the sun's glow is still baskable. So I'm signing off. Have a great weeke? https://t.co/9FxNEpDs6p

  • No not correct. The big six do, but you can get fixed tariffs guaranteed not to rise and about 25% cheaper. Just tr? https://t.co/B2ft5OS3Ig

  • Baaaa! Scottish Power has bleated and followed the herd, today announcing it's putting up energy prices by 5.5%. R? https://t.co/vi3hBxo4Hn

  • Follow Martin