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    • Cheery Daff
    • By Cheery Daff 11th Mar 18, 6:28 AM
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    Cheery Daff
    Cheery's country living adventure
    • #1
    • 11th Mar 18, 6:28 AM
    Cheery's country living adventure 11th Mar 18 at 6:28 AM
    Hello lovely people

    I'm Cheery, been around these parts a long time now and had several DFW diaries over the years, most recently here.

    We are two - Mr Cheery and I. We've been together over 12 years now, and last week we moved from the middle of the city to the middle of nowhere. We were snowed in within 24 hours and unable to leave for a week Quite an introduction to country living

    I now have a mortgage for the first time in my life Mr Cheery had one before, but as it was near the end when I met him, we never added me, and then it got to the end of its 25 year span a few years ago. Now we have a brand new one, and I would like to pay it off as soon as possible

    It's going to take a while - we've borrowed 215,000 over 25 years A reasonable rate though (1.8%), fixed until Sept 2019. Our monthly payment is 890, and I'd like to overpay by 10 at least - with the aim of on average paying off an extra 110 a month to take it up to a round 1000.

    If we don't pay it off early, it'll run til I'm 62, and Mr Cheery is 80 A good incentive to get on with it

    Sadly our building society doesn't have online banking for mortgages (bloody ridiculous) and only sends annual statements, so it looks like I'll be ringing them up every five minutes for a new balance

    I would love it if you dropped in occasionally for a nice cup of tea, especially if you brought along some cake

    More details in a minute
Page 38
    • Cheery Daff
    • By Cheery Daff 8th Jun 19, 7:32 PM
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    Cheery Daff
    Aw, thanks lovely people!

    To be honest I'm not sure how LPG compares to normal gas Partly because we had SUCH an ancient inefficient boiler (it was 28 years old ) in the old house, and the new one is only about 10 years old and more efficient. We pay roughly the same I think (current DD is 84 a month but that's partly cos there's one of us here pretty much all the time, early morning til late at night, and also because we have a giant hole in the kitchen ceiling at the minute so can't keep the heat in )

    Well worth reading the LPG thread on here for info about what to do. The thing that baffled me at first was how you swap the tank ownership over as new person can't fill it without a contract, and we couldn't take a contract til we lived here, and the tank was empty and the previous contract-older was dead However of course it's far more simple than that - you can get a half tank from the existing supplier before doing a contract

    Anyway, just popped back in to report that I've been through ALL the betting shop accounts and withdrawn everything from most of them, and transferred 1200 to our main bank account to cover the mortgage OP and the 100 each frivolous spends Still got roughly 1000 float and going to do the same withdrawing thing each time we reach the next 1200

    And now I'm going to get off the computer and start drinking
    • Cheery Daff
    • By Cheery Daff 8th Jun 19, 7:39 PM
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    Cheery Daff
    Oh, and I know nothing about peg looms KC! Do tell. I would love to have a go at spinning one day though - should have kept hold of one of those sheep that was in the garden the other day!

    And I am literally giggling out loud at the prospect of being bewildered by rhubarb fortunately it is just a matter of making a decision rather than general rhubarb-related bewilderment but they are excellent suggestions and I will throw them into the mix, thank you!
    • Karmacat
    • By Karmacat 8th Jun 19, 8:43 PM
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    Karmacat
    Oh, and I know nothing about peg looms KC! Do tell. I would love to have a go at spinning one day though - should have kept hold of one of those sheep that was in the garden the other day!
    Originally posted by Cheery Daff
    Sorry! I think of you as being very craft-oriented. The "loom" is a piece of wood, varying lengths of, with a single row of holes. In the holes are pegs, with a warp thread through each hole. You wind your weft through the pegs, there's a bit of magic to push it down (I've seen it done, and its simple, but for the life of me I can't make sense of the memory right now ) and it grows very quickly. It will easily take material the width of, say, a ribbon - great for using up my stash


    And I am literally giggling out loud at the prospect of being bewildered by rhubarb fortunately it is just a matter of making a decision rather than general rhubarb-related bewilderment but they are excellent suggestions and I will throw them into the mix, thank you!
    I stewed it in water with mixed herbs the other day, and had it with porridge - ended up a champagney type taste
    Downsized and paid off mortgage 2010
    Retired August 2016
    Paid off French mortgage September 2018
    New kitchen fully installed June 2019
    • teapot2
    • By teapot2 9th Jun 19, 9:10 AM
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    teapot2
    Matched betting is going rather well - we're now up to 2151 since the middle of March Who knew? (Well, lots of MSE-ers knew, and I knew in theory years ago, but just wasn't ready to take the plunge ) I've made the mistake of trying to explain it to a few people lately and have decided that it's just not worth the bother

    Anyway, I've basically decided to treat it a bit like a second job, as that's essentially what it is. After the initial (very) steep learning curve I'm settling into it a bit more, and basically spend an hour or so in the morning, and then sometimes another hour or so in the evening (sometimes not). Certainly not for everyone, but there are just two of us here, and we'd quite often be sat one either end of the sofa with a laptop each Mostly what I've ditched is mindless trailing down internet rabbit holes
    Originally posted by Cheery Daff
    Am in awe of your matched betting progress, thats amazing. I've started doing MB in a smallish way and taking it slowly. It is quite a steep learning curve as you say and I feel there is so much I still don't know. As I'm on my own now I can fit it in before or after work though I haven't been doing it every day.
    • Cheery Daff
    • By Cheery Daff 9th Jun 19, 7:11 PM
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    Cheery Daff
    Thanks for the loom info KC! I am indeed quite craft-oriented I've just not come across peg looms before. Interestingly there were some spinners at the little open farm thing I went to today, very interesting

    I've been quite consistent about the MB stuff teapot Once I get a bee in my bonnet about something I do tend to just focus on that to the exclusion of all cleaning etc I'm certainly less worried about it now than I was at the start Just keep going - it's all profit after all, even if you don't go very quickly!

    Speaking of which, we are now officially at the end of week 12, and have made a total of 2137 VERY pleased That's an average of 178 a week

    As I say, not exactly an 'easy' or 'quick' option as it's taking a lot of time and brain power but as second incomes/side hustles go, this one is VERY convenient for me, requiring no leaving the house, committing to regular hours, or involvement of other people whatsoever

    And I am VERY motivated by the prospect of paying off the mortgage At the rate I'm going, we should be able to overpay by around 500 a month at least IF we use it for the mortgage of course, which is the next decision...

    Anyway, first job for tonight is to gather all those little mortgage OP savings from various places and see how much we've got - I REALLY want to pay off 2000 before the mortgage fix, but it doesn't need to be this week (in fact it doesn't really need to be til September... but it would be good to get it done sooner rather than later...)
    • Cheery Daff
    • By Cheery Daff 9th Jun 19, 7:13 PM
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    Cheery Daff
    Right, mortgage overpayment pots...

    1000 from MB
    647.50 from married tax allowance, survey sites etc

    = 1647.50

    Hmm. Going on the scrounge round various places to see what I can find Will report back
    • themadvix
    • By themadvix 10th Jun 19, 8:03 AM
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    themadvix
    Thanks for the info on LPG Cheery. Will bear it in mind should we find ourselves interested in another house with such a set up.

    Great OP! Sadly I doubt you'll be able to continue to make as much from MB over time - I think as the bookies ban you it becomes harder and harder and the earning dwindle. Sorry to be the bearer of bad news! But... in the meantime - make hay while the sun shines!
    • Cheery Daff
    • By Cheery Daff 10th Jun 19, 10:48 AM
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    Cheery Daff
    I've already been banned by a couple One for no bigger infraction than signing up and placing ONE bet Have you done it themadvix? How did you get on?

    I think my main restriction is going to be when I have to go into the office more and so am adding in a couple of hours of travelling some days... But that's not for another few months yet!
    • themadvix
    • By themadvix 10th Jun 19, 12:04 PM
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    themadvix
    I've not - DH did some time ago, so I really need him to get back into it. Failing that, I'll have a go, but I'm really not mathematically minded! Perhaps when we get back from holiday. I can see me happily signing up to all the bookies for cashback though

    How outrageous that you were barred for one bet?!! How weird!
    • Cheery Daff
    • By Cheery Daff 12th Jun 19, 9:35 PM
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    Cheery Daff
    So much excitement here today MSE chums, as I have paid an extra 1000 off the mortgage

    SO very pleased, and this brings our mortgage due date forward by a whole three months to December 2042 Exciting but that's still quite a long way off, and I will still be 62 I think I'll have a proper celebration when we get to the date being when I'm 61

    Anyway, I learned that I had in fact misunderstood them last time, when they said any overpayment under 1000 didn't make a difference until the end of the year, so there was no point making smaller OPs.

    Turns out payments under 1000 don't make a difference TO THE MONTHLY AMOUNT until the end of the year - interest is calculated daily and so it IS worth making smaller payments - especially as we kept the monthly payments fixed last time we did a big overpayment, so we're now paying a fixed amount rather than the minimum amount.

    My fault for misunderstanding (although I'm not stupid so I'm prepared to give some responsibility to their poor explaining too). And I won't be making many tiny over payments as they still have no online account management, but it'll definitely be worth overpaying *something* at the end of each month
    • Cheery Daff
    • By Cheery Daff 12th Jun 19, 10:30 PM
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    Cheery Daff
    In fact... as we've been pondering what to do with the extra matched betting dosh... this gives us another option I suppose - rather than waiting til we've got to 1000 we could just see what we've got at the end of each month and split by percentages - say 40% mortgage, 40% savings/wage replacement, then 10% each for frivolous indulgent spends (or whatever).

    That would mean it wouldn't matter what I made each month, we'd add a bit to each pot. I confess I'm favouring that option at the minute (but I think I've changed my mind every day lately so let's see what tomorrow brings )
    • themadvix
    • By themadvix 13th Jun 19, 8:36 AM
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    themadvix
    to the overpayment Cheery! And great news that you *can* pay the smaller amounts off.
    • Karmacat
    • By Karmacat 13th Jun 19, 9:37 AM
    • 32,404 Posts
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    Karmacat
    Congratulations, Cheery and Mr Cheery
    Have some cake
    Downsized and paid off mortgage 2010
    Retired August 2016
    Paid off French mortgage September 2018
    New kitchen fully installed June 2019
    • debtfreeoneday
    • By debtfreeoneday 13th Jun 19, 1:33 PM
    • 3,057 Posts
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    debtfreeoneday
    I try and send an OP each day even if it is pence, I like to think I'm making them work for every penny they get off me!

    Only just found your diary, will subscribe and follow your journey!
    DFW (08/08) 64,346.53 Gone for good (02/19)
    MFW (01/15) 77,993.33
    • EssexHebridean
    • By EssexHebridean 13th Jun 19, 3:22 PM
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    EssexHebridean
    Doh - I knew there was something I'd missed on ththe Mortgage OP thing - reading your post above has brought it into focus. If they are talking about reducing your monthly payments (even if you subsequently leave that the same) they are wrongly applying the OP's - they should be applied in such a way that they shorten the term, NOT reduce the monthly payment. The reason this is important is that at some stage, if you continue to use fixed rate deals as with the current financial situation, you probably will, you'll reach a point where you're struggling to make OP's because of the annual limit for the amount you are allowed to OP. The way they are currently applying them means that if as I think you're leaving the monthly payment set to where it started, rather than taking the reduced payment, you are ALREADY overpaying monthly, as well as your lump sums you're paying from time to time - so the amount you have OP'd this year is already higher than you think....make sense? (Possibly not because that is a very clumsy explanation!) A Mortgage company's preference is always to reduce your monthly payment as obviously this keeps you in their clutches for longer!
    MORTGAGE FREE 30/09/2016
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    • Elephantchunks
    • By Elephantchunks 13th Jun 19, 6:21 PM
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    Elephantchunks
    Wow congrats on the overpayment Cheery, that's a huge amount to make on MB. I've not done MB but I'll get it as I'm pretty good with maths etc. But can I ask one question? (Well 2 if you just counted that as a question) Do you pay the website (named above somewhere)for their tips on who & where to bet?
    Thoroughly enjoying your diary, we moved to the country 1 1/2 years ago, not finished our reno & not got our chickens yet but can relate to so much of your diary, Thanks
    Live a lot. Love a few. Always paddle your own canoe.
    Electrics re-wire savings
    Oct - May - 800/3000. June 1389/3000
    • teapot2
    • By teapot2 14th Jun 19, 8:54 PM
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    teapot2
    Carrying on from what EH said above, I think we used to have to tell the bank how we wanted them to apply the OPs to the mortgage each time .

    Well done on the OP though
    • edwink
    • By edwink 15th Jun 19, 7:34 AM
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    edwink
    Carrying on from what EH said above, I think we used to have to tell the bank how we wanted them to apply the OPs to the mortgage each time .

    Well done on the OP though
    Originally posted by teapot2
    It was the same for us Cheery in that we were given the choice of how the OP was used against our mortgage.

    Very well done on your big over payment and also well done with your MB. You are such a little hard worker doing all and sundry to gather the money to do this. I really do admire you for all the hard work you put in.

    I absolutely love following your diary as it is so interesting. I am cheering you along all the way

    Edwink x
    3.36 kWp system, 10 x Ultima & 4 x Panasonic solar panels, Solar Edge Inverter
    1 Duck called Hoppy Nine Lives. RIP Pingu
    2000ltr Rainwater harvesting system for loo flushing Hybrid Toyota Auris car

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    http://forums.moneysavingexpert.com/showthread.php?t=5282209
    • Cheery Daff
    • By Cheery Daff 15th Jun 19, 1:17 PM
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    Cheery Daff
    Aw you lovely lot

    I remember I did ask for the term to be reduced last time we made an overpayment, but forgot this time as I was too busy asking about the interest But I shall make a note to ask next time! We're quite away off being anywhere near 20% at this stage...

    Elephantchunks - yes I do have an odds monkey subscription now. Did the first few weeks without it, then realised how much of a timesaver it was for finding the right matches, and for showing all the different offers in one place. It's 18 a month which sounds steep until you realise it's helping me make 800 a month - which makes it sound more reasonable

    Bless you for your kind words edwink you wouldn't say I was hardworking if you could see me today -I had a lie in til 9am (Mr Cheery got up to let the chickens out) then we've been to a cafe for breakfast, and pottered round the charity shops in a different little town to our normal one.

    Home now, got some quorn crispy nuggets in the oven, and we plan on spending the rest of the day loafing about
    • rtandon27
    • By rtandon27 15th Jun 19, 1:47 PM
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    rtandon27
    ...we plan on spending the rest of the day loafing about
    Originally posted by Cheery Daff
    Just what Saturday's were made for!
    2 YEARS & 11 MONTHS DEBT FREE!!! (24 OCT 2016)
    (With heartfelt thanks to those who have gone before us & their indubitable generosity.)
    Working hard to keep all the balls in the air and juggle the budget!
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