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  • FIRST POST
    • CrowdieSaver
    • By CrowdieSaver 29th Mar 17, 12:51 PM
    • 23Posts
    • 48Thanks
    CrowdieSaver
    Party of Five's Overpayment Adventures
    • #1
    • 29th Mar 17, 12:51 PM
    Party of Five's Overpayment Adventures 29th Mar 17 at 12:51 PM
    Hello all

    I hope you don't mind me joining you all. I am a long time lurker and reader of these forums, and have been looking forward to the day when I could join.

    A bit about me: single-mum to 2 lovely children and 2 mad dogs (hence the title of this thread, use to love that tv show, and it seemed an apt title), the wrong side of 40, and desperate to pay off my mortgage before I get too old..! Just out of a long-term relationship where he loved spending money (mine included), which left me with no savings and a credit card which took a bit of a hammering (but I have now paid this off, and do not intend to use it again. If something is needed, I will save up for it). He used to laugh at my plans to save an emergency fund and to pay off my mortgage, and said that I was stupid, life was for living and the mortgage was there to be paid off at the official end date, and not before....! He also said that if we needed to buy anything and could not afford it, then we took out a loan or stuck it on the credit card....suffice to say, we had different views on money...and that (along with a whole load of other reasons) is why we are no longer together. Far better just me and my gang bumbling along together as a Party of Five!

    The only sticking point to my overpaying plan, is that I have not got much spare cash to overpay with...I am currently in a not so greatly paid job (which I'm actively doing something about), and what with bills, trying to save for house improvements/emergency fund, there is not a lot spare to go around.

    I'm aiming to save £100 each month to start with and then overpay every couple of months, until I get a better paid job anyway, and then hopefully once I get a wage increase, overpay £250 upwards each month from then on. I can't overpay anything less than £201 per month, as I was nicely informed by my Spanish bank when I rang to set up a standing order to overpay my £100 each month....hey ho...

    Mortgage left is £60,000, and payment is £429 per month with the Spanish Bank - my fixed rate came to an end a couple of years ago, and I'm on their svr. I cannot re-mortgage due to my poorly paid job, the Spanish Bank and my own Building Society have both turned me down, so I guess I'm stuck on this rate until I get a better job..? Goodness only knows how I got a blooming mortgage in the first place, but it was 9 years ago, and I had a bit more cash in my savings then due to separating from my kids' dad and him buying me out of our marital home. All ok now, we all get on great, which is good for all of us.

    I'm doing all the usual - surveys, cut back the food bill (now only spend £100 per month), don't use the car unless I have to... anyone got any other tips?

    Anyway, that's enough ramblings for now, I have read most of your threads and devoured all bits of information possible, but please feel free to comment and give me any other tips and advice you may have. I will be updating this thread regularly, if only as an incentive for myself, and hopefully I will be getting rid of this stress on my shoulders sooner than the Spanish Bank think I should....


    Take care for now x
    Mortgage at Jan 17: £60,000. Mortgage now: £57,220. Mortgage end date: WAS Jan 2034. NOW Oct 2033....
    Overpayments of £250: 2017: April/Sept. 2018: Feb.
    Hoping to be mortgage free by December 2023.....
    Emergency fund: £1,200/£5,000
    Kitchen Renovation fund £0/£7,000
Page 2
    • greent
    • By greent 20th Sep 17, 6:25 PM
    • 7,081 Posts
    • 72,140 Thanks
    greent
    Oooh - is that the Jack Monroe burgers? - I love those
    x
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786. 2018 OPs (#18) £1068.37/£4000
    Net sales 2018 £522.39/£1000 PAYDOX18 (#15) £18564.38/£18918.90
    • CrowdieSaver
    • By CrowdieSaver 20th Sep 17, 8:56 PM
    • 23 Posts
    • 48 Thanks
    CrowdieSaver
    Yep, they are lovely, we have them quite often, but I add leeks and do half paprika half cumin in mine I make a few of the recipes from that cookbook, there's some great food in there
    Mortgage at Jan 17: £60,000. Mortgage now: £57,220. Mortgage end date: WAS Jan 2034. NOW Oct 2033....
    Overpayments of £250: 2017: April/Sept. 2018: Feb.
    Hoping to be mortgage free by December 2023.....
    Emergency fund: £1,200/£5,000
    Kitchen Renovation fund £0/£7,000
    • CrowdieSaver
    • By CrowdieSaver 1st Jan 18, 1:57 AM
    • 23 Posts
    • 48 Thanks
    CrowdieSaver
    Happy New Year to you and I hope that 2018 is great for you all! Just a quick update from me.

    I haven't posted in a long time, as there isn't much to say..i haven't made any more overpayments since the one in September as money has been so tight these last few months...I've got a different job now, which I started a few weeks ago and I'm earning more per month, so have made a schedule for the next few months of how much I need to save and also how much I want to over pay...but this is obviously subject to change, as these things very rarely go to plan, especially in my world!

    My aim for 2018 is to make at least 6 overpayments of £250...that's a lot for me, but I'm hoping it will be possible. Fingers crossed.

    My other aim is to post more regularly on here, for somewhere to put my witterings and frustrations, and list my hopes and dreams, if only as a reminder for me to see how far I've come.

    Right, I'd better get to bed, a New Year is beckoning, but first I need sleep! !!!55357;!!!56832;
    Mortgage at Jan 17: £60,000. Mortgage now: £57,220. Mortgage end date: WAS Jan 2034. NOW Oct 2033....
    Overpayments of £250: 2017: April/Sept. 2018: Feb.
    Hoping to be mortgage free by December 2023.....
    Emergency fund: £1,200/£5,000
    Kitchen Renovation fund £0/£7,000
    • fiona100
    • By fiona100 4th Jan 18, 7:19 PM
    • 25 Posts
    • 77 Thanks
    fiona100
    Thank you for the thanks. Undeserved though it is. I hope you have had a wonderful Christmas and a happy start to the new year. Cheers Fiona
    • greent
    • By greent 5th Jan 18, 7:13 PM
    • 7,081 Posts
    • 72,140 Thanks
    greent
    Hello again, Crowdie - congrats on the new job!

    I find regular(ish!) posting keeps me motivated - and accountable! When I've been awol for longer periods I've generally not been as MSE-minded

    Happy New Year!
    x
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786. 2018 OPs (#18) £1068.37/£4000
    Net sales 2018 £522.39/£1000 PAYDOX18 (#15) £18564.38/£18918.90
    • CrowdieSaver
    • By CrowdieSaver 25th Feb 18, 8:39 AM
    • 23 Posts
    • 48 Thanks
    CrowdieSaver
    Hi everyone.

    Quick update from me..made an overpayment of £250 to the mortgage yesterday, which was money gained by selling items on the Tree of Gum and birthday money. Didn't need to buy anything with the birthday money, so put it towards an overpayment instead.

    I've got some items listed on Fleabay that end later today, and have a bid on one of them, and watchers for some of the other items, so hoping to make a few more pennies by the end of the day.

    Have also managed to save quite a bit since I was last on here, so the emergency fund is looking reasonably good at the minute (fingers crossed it stays that way!).

    Will update signature later with correct figures.

    Bye for now.

    C x
    Mortgage at Jan 17: £60,000. Mortgage now: £57,220. Mortgage end date: WAS Jan 2034. NOW Oct 2033....
    Overpayments of £250: 2017: April/Sept. 2018: Feb.
    Hoping to be mortgage free by December 2023.....
    Emergency fund: £1,200/£5,000
    Kitchen Renovation fund £0/£7,000
    • selloptape
    • By selloptape 25th Feb 18, 9:12 AM
    • 457 Posts
    • 1,890 Thanks
    selloptape
    Hi CS,

    Lovely to see another single parent on here!

    Just wondered if you managed to sort a new mortgage deal in the end? In case not - just wanted to mention that I was turned down initially but then approved by taking on a longer term, might be work checking out in case it!!!8217;s cheaper if you if the interest rate is better.

    Best of luck for 2018, will follow!
    GC May £235.52/£290 GC April £240.65/£300March £322.53/£350
    £2 Savers Club #59 £58
    MFW 2018 #49 £600/£3,000
    MFiT T4 #21 - reduce mortgage by £20k over 3 years
    • CrowdieSaver
    • By CrowdieSaver 25th Feb 18, 10:09 PM
    • 23 Posts
    • 48 Thanks
    CrowdieSaver
    None of my items on Fleabay sold - will list them again in the week. Bit disappointed but will try again another day.

    Did win £5 on the Thunderball last night though, which will go in the overpayment pot towards my next overpayment of £250. Swings and roundabouts.

    Hi Selloptape...thanks for that info..tbh I haven't got round to trying again...if I'm honest I'm scared of being rejected again, and also have been super busy finding another job etc...but, I know it is something I definitely need to do, so thank you.

    Can't update signature yet, as went online to check current mortgage balance and it hasn't been updated with yesterday's overpayment yet.....

    Anyway, off to bed, another week beckons.

    C x
    Mortgage at Jan 17: £60,000. Mortgage now: £57,220. Mortgage end date: WAS Jan 2034. NOW Oct 2033....
    Overpayments of £250: 2017: April/Sept. 2018: Feb.
    Hoping to be mortgage free by December 2023.....
    Emergency fund: £1,200/£5,000
    Kitchen Renovation fund £0/£7,000
    • CrowdieSaver
    • By CrowdieSaver 28th Feb 18, 5:43 PM
    • 23 Posts
    • 48 Thanks
    CrowdieSaver
    One of my items sold on Fleabay, so another £5 into the overpayment pot. Every little bit helps I guess. The next £250 overpayment amount seems a long way off at the minute though! More items going on Fleabay at the weekend, so hopefully may get some more pennies soon.

    Will be glad when this weather warms up and I can turn the heating off, hate having to have it on so much. Am turning into Scrooge!
    Mortgage at Jan 17: £60,000. Mortgage now: £57,220. Mortgage end date: WAS Jan 2034. NOW Oct 2033....
    Overpayments of £250: 2017: April/Sept. 2018: Feb.
    Hoping to be mortgage free by December 2023.....
    Emergency fund: £1,200/£5,000
    Kitchen Renovation fund £0/£7,000
    • CrowdieSaver
    • By CrowdieSaver 3rd Mar 18, 11:08 PM
    • 23 Posts
    • 48 Thanks
    CrowdieSaver
    Because of overpayment made last week, mortgage now stands at £57,848.25...whoop whoop, I'm under £58k! Still a long way to go, but it's gradually getting less and less.

    Two items on Fleabay have bids on them, so there will definitely be more coffers to add to the overpayment pot soon. Not much, but better than nothing.

    Off to update my signature!
    Mortgage at Jan 17: £60,000. Mortgage now: £57,220. Mortgage end date: WAS Jan 2034. NOW Oct 2033....
    Overpayments of £250: 2017: April/Sept. 2018: Feb.
    Hoping to be mortgage free by December 2023.....
    Emergency fund: £1,200/£5,000
    Kitchen Renovation fund £0/£7,000
    • greent
    • By greent 4th Mar 18, 8:33 AM
    • 7,081 Posts
    • 72,140 Thanks
    greent
    Ooh - your mortgage amount is almost identical to our sub account 1 (we have a further advance of another 5k on sub acct 2, but that end date is further away and both are same int rate, so I'm concentrating on sub acct 1)

    All those fleabay bits add up! - (I have to keep telling myself this! )
    x
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786. 2018 OPs (#18) £1068.37/£4000
    Net sales 2018 £522.39/£1000 PAYDOX18 (#15) £18564.38/£18918.90
    • CrowdieSaver
    • By CrowdieSaver 7th Mar 18, 8:36 PM
    • 23 Posts
    • 48 Thanks
    CrowdieSaver
    I keep telling myself the same thing greent! I'm quite excited - 9 of my items have watchers, and 3 items have bids on them...not expensive amounts, but something is better than nothing! It will all help me to achieve my end goal anyway, so I'm happy.
    Mortgage at Jan 17: £60,000. Mortgage now: £57,220. Mortgage end date: WAS Jan 2034. NOW Oct 2033....
    Overpayments of £250: 2017: April/Sept. 2018: Feb.
    Hoping to be mortgage free by December 2023.....
    Emergency fund: £1,200/£5,000
    Kitchen Renovation fund £0/£7,000
    • CrowdieSaver
    • By CrowdieSaver 19th Mar 18, 9:06 PM
    • 23 Posts
    • 48 Thanks
    CrowdieSaver
    Another couple of items have sold on Fleabay, so more pennies to add to the overpayment pot....will be adding the council tax for this month to the pot too seeing as its a non payment month, so probably over halfway until I've reached the next £250 to be overplayed.

    Been feeling a bit down the last few days, lots of unexpected bills that I'd forgotten about that need to be paid, and am having to dip into my savings to pay them, which is not what I want to do, as the savings pot is not that full anyway....so, have sent off applications to a couple of places for a weekend job, just a few hours on a Saturday and Sunday. It's a means to an end...need to build the savings up, get a few urgent jobs done in the house, and get this mortgage paid off because it's dragging me down now.....and if having 2 (or maybe 3) jobs is what it takes, then that's what needs to be done.

    Onwards and upwards.
    Mortgage at Jan 17: £60,000. Mortgage now: £57,220. Mortgage end date: WAS Jan 2034. NOW Oct 2033....
    Overpayments of £250: 2017: April/Sept. 2018: Feb.
    Hoping to be mortgage free by December 2023.....
    Emergency fund: £1,200/£5,000
    Kitchen Renovation fund £0/£7,000
    • selloptape
    • By selloptape 19th Mar 18, 9:09 PM
    • 457 Posts
    • 1,890 Thanks
    selloptape
    Good luck with the job apps!
    GC May £235.52/£290 GC April £240.65/£300March £322.53/£350
    £2 Savers Club #59 £58
    MFW 2018 #49 £600/£3,000
    MFiT T4 #21 - reduce mortgage by £20k over 3 years
    • CrowdieSaver
    • By CrowdieSaver 19th Mar 18, 9:15 PM
    • 23 Posts
    • 48 Thanks
    CrowdieSaver
    Thanks Selloptape, fingers crossed!
    Mortgage at Jan 17: £60,000. Mortgage now: £57,220. Mortgage end date: WAS Jan 2034. NOW Oct 2033....
    Overpayments of £250: 2017: April/Sept. 2018: Feb.
    Hoping to be mortgage free by December 2023.....
    Emergency fund: £1,200/£5,000
    Kitchen Renovation fund £0/£7,000
    • CrowdieSaver
    • By CrowdieSaver 20th Mar 18, 10:47 PM
    • 23 Posts
    • 48 Thanks
    CrowdieSaver
    I could quite possibly end up with 3 different jobs.....one of the places where I applied for a weekend job have been in touch regarding my application, just need to send them some other info....so that sounds hopeful, and I've now seen another job which is evenings, but only for 6 weeks, and the timings mean that I could fit it around the other two jobs....possible? I will be frazzled, but at least money will be coming in....if you want something bad enough you gotta work for it, right...? What to do...?
    Mortgage at Jan 17: £60,000. Mortgage now: £57,220. Mortgage end date: WAS Jan 2034. NOW Oct 2033....
    Overpayments of £250: 2017: April/Sept. 2018: Feb.
    Hoping to be mortgage free by December 2023.....
    Emergency fund: £1,200/£5,000
    Kitchen Renovation fund £0/£7,000
    • CrowdieSaver
    • By CrowdieSaver 25th Mar 18, 11:24 AM
    • 23 Posts
    • 48 Thanks
    CrowdieSaver
    Seeing as March is a non council tax month, I've put the equivalent amount into the overpayment pot. Was tempted to have a takeaway on Friday, but resisted, so put that money into the overpayment pot too..

    Feeling slightly more optimistic today...I may not have many spare pennies, the house needs so many things doing to it, the savings pot is looking quite sorry for itself, but Spring is springing and its a glorious day....the windows are wide open, the washing is on the line with another load ready to be hung out, and today is looking like being a NSD (unless I go to the pub quiz later this evening, which would only be minimum spends for a soft drink and a raffle ticket). Happy bunny today.
    Mortgage at Jan 17: £60,000. Mortgage now: £57,220. Mortgage end date: WAS Jan 2034. NOW Oct 2033....
    Overpayments of £250: 2017: April/Sept. 2018: Feb.
    Hoping to be mortgage free by December 2023.....
    Emergency fund: £1,200/£5,000
    Kitchen Renovation fund £0/£7,000
    • CrowdieSaver
    • By CrowdieSaver 31st Mar 18, 7:07 PM
    • 23 Posts
    • 48 Thanks
    CrowdieSaver
    Good news..I have a new job! A little bit more money each month too, so to celebrate I've just sat and set up a spreadsheet of my monthly outgoings (lots) and my monthly incomings (not many!)...and even on the worst payment months and even with factoring in things that are not monthly payments (dog jabs, school bus fees etc), it would seem that I can afford to save £300 towards my emergency savings fund/new kitchen fund and also overpay £250 each month! I am ecstatic to say the least!

    We also had a takeaway curry last night to celebrate my good news and also because we have been scrimping and scraping for so long and rarely have a treat, but have decided that actually I can make a better one myself and save myself £25 into the bargain...oh well, lesson learned!

    Looking forward to a big lamb/pretend chicken roast dinner with the kids tomorrow (cannot remember the last time we had a roast dinner as normally can't afford it, but I put some vouchers towards buying it), and then slob on the sofa watching a film in the afternoon.

    Also looking forward to doing a meal plan for the month tomorrow too, so that I can only buy what we absolutely need for each meal...only have a budget of £150 for food each month, but that should be plenty as we don't tend to eat a lot of meat and I rarely drink.

    All in all, lots to look forward to in the coming weeks, cannot wait to get started in my new job and start my revised money plan!

    CS x
    Mortgage at Jan 17: £60,000. Mortgage now: £57,220. Mortgage end date: WAS Jan 2034. NOW Oct 2033....
    Overpayments of £250: 2017: April/Sept. 2018: Feb.
    Hoping to be mortgage free by December 2023.....
    Emergency fund: £1,200/£5,000
    Kitchen Renovation fund £0/£7,000
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