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  • FIRST POST
    • Saving Glut
    • By Saving Glut 3rd Sep 18, 12:35 PM
    • 124Posts
    • 1,096Thanks
    Saving Glut
    Fast-approaching deadline for Interest Only BTL mortgages.
    • #1
    • 3rd Sep 18, 12:35 PM
    Fast-approaching deadline for Interest Only BTL mortgages. 3rd Sep 18 at 12:35 PM
    Hi all

    Recently inspired by reading the very absorbing and impressive debt-free wannabe posts titled: 'I don't need another latte', I decided to grasp the nettle and log my own story to being mortgage-free.

    My posts will focus on paying down two buy-to-let properties. Both of which are on Interest Only mortgages and the capital of which must be repaid in the next 8 years approx. And here's where it gets interesting - both are in negative equity!

    I am a contractor which means my monthly income can change based on the number of work days each month and the number of holidays I take.

    I currently deposit a fixed amount of my salary to a joint account. My OH is very organised and efficient on money matters, so for the purposes of this exercise, I am just going to focus on the surplus I have after paying my contribution to joint mortgage and monthly bills. We don't have kids (but do have pets which require regular and expensive visits to the vets!).

    BTL1 Property:
    Value: £78k
    Mortgage Balance: £97,279.47
    Negative Equity: £19,279.47
    Mortgage Rate: 5.04%
    Mortgage Payment: £450 (£411.42 plus overpayment £38.58 (paid into offset-style mortgage)).


    BTL2 Property:
    Value: £68k
    Mortgage Balance: £104,277.87
    Negative Equity: £29,279.47
    Mortgage Rate: 5.04%
    Mortgage Payment: £450 (£437.96 plus overpayment: £12.04 (paid into offset-style mortgage)).

    I have two other BTL mortgages which generate an income, some of which I will use to pay down BTL1 & BTL2.

    I appreciate I am in a very lucky position, but that doesn’t detract from the fact that I must pay down BTL1 & BTL2 capitals in the next 8 years. I’m hoping with some MSE focus I will stop wasting money each month and get these mortgages down so that I can retire early.

    I have spent the last two months improving my finance situation MSE-style. I paid down the capital of my PCP car payment (4.5%) and plan to pay down balloon payment on 14th September (6 months early). Although, I will be debt-free, I will also be savings-free!

    Monthly SOA*:
    Ltd Company income before tax and after contribution to joint mortgage and household bills: £4,500
    Total Rental Income: £2,398
    Total BTL Mortgages: £1,200
    BTL1 Overpayment: £1,000
    Property Agent Fee: £25
    Corporation Tax: £1,000
    PAYE: £100
    Accountancy fees: £76.30
    Savings: £170 (direct debit setup within my NatWest current account)
    Petrol: £140
    EE Mobile Phone Contract: £33
    Joint Health Care with Vitality: £159
    Spends: £340

    Total income: £6,898
    Total Outgoings: £4,243 (this does not include property fees and costs).
    Variance: £2,654.7

    *Some figures are approximates and will be refined with time

    As I jiggled some mortgages around this summer, I intend to overpay BTL1 by £1,000 from September with rental income from BTL3.

    As my BTL1 & BTL2 mortgages are in negative equity, I must stick with NRAM until the mortgages are 75% LTV. My aim is to pay down BTL1 to 75% LTV (£56k), after which I can negotiate a better mortgage rate. I will then focus on doing the same with BTL2 (75% LTV is £51k). The values of these properties is increasing by approximately 3% per annum, but the rental potential will remain static for the forseeable future. I have no repayment limitations.

    Next steps:
    1. Set target overpayment for BTL1 for end of 2018. Completed: Target £89,999.00
    2. Investigate penalties for overpaying BTL1 mortgage above £1,000 per month. Completed - there are none.
    3. Determine how much extra savings I can put aside for emergencies (I always prefer to put extra funds toward mortgages, but I do need an emergency fund). Completed: Target: Extra £130 on top of current target of £170.
    4. Document adhoc fees which occur throughout the year including, but not limited to: rental property maintenance services, physical property maintenance and gardening fees, non-UK property taxes, communal electricity bills.Work in progress.
    5. Breakdown current monthly spend to smaller categories e.g. hairdresser, dentist, clothing, sports hobby, socialising, lunch and some food) to determine if it is accurate.
    6. List items for sale on eBay and/or Facebook marketplace. As at 14/11 I have sold £195.15 worth of goods online.
    7. Calculate utility bills owed to me from tenants. This job always lingers on the bottom of my list and costs me money. And annoyingly, it is not difficult but can yield a tidy sum! Completed.
    8. Learn how to update my MSE signature and use emojis! Completed!

    Although my posts will focus on paying down BTL mortgages, I expect the approach taken to save money will be similar to others here. Ultimately, I hope posting on this forum will help me focus on paying less interest to the banks!

    Thanks for reading this far – this exercise itself has helped clarify my expenditure! Comments are welcome.
    Last edited by Saving Glut; 14-11-2018 at 2:22 PM.
    IO BTL1 Mortgage was £97,963 on 09/08/18; £90,641 on 08/12/18.
Page 2
    • Saving Glut
    • By Saving Glut 3rd Oct 18, 9:43 PM
    • 124 Posts
    • 1,096 Thanks
    Saving Glut
    Happy to report today was an NSD. This was helped by dropping all my change into a money box before I left for work, preventing me from buying chocolate from vending machine while there.

    Advertised 5 items on FB Msgr. Will be interesting if anyone bites!

    Otherwise, I just created accounts for YouGuv and Prolific.

    Feeling my approach to being MF is somewhat haphazard, but hoping to inch a little closer each day.

    Goodnight all!
    Last edited by Saving Glut; 04-10-2018 at 5:51 AM.
    IO BTL1 Mortgage was £97,963 on 09/08/18; £90,641 on 08/12/18.
    • Saving Glut
    • By Saving Glut 4th Oct 18, 6:59 AM
    • 124 Posts
    • 1,096 Thanks
    Saving Glut
    Posted an additional 3 items on FB market plaza this morning and renewed two other ads. Am meeting a lady at 8am in Waitr0se car park this morning to sell an item and two other items have been reserved. Preference is to pay cash on collection to avoid PayP@l fees. Some items will go into joint pot.

    Have acupuncture session this evening to energize legs before a Palace to Palace cycle this Sunday. Hope it will help regularise my chaotic sleep pattern for a while too! As I had purchased a bundle of 8 earlier in the summer, I hope this will be a NSD (must leave proceeds in car to help resist temptation in vending machine!).

    Have a nice day everyone!
    IO BTL1 Mortgage was £97,963 on 09/08/18; £90,641 on 08/12/18.
    • greent
    • By greent 4th Oct 18, 5:21 PM
    • 7,596 Posts
    • 77,381 Thanks
    greent
    Haha! I've met a few people for sales recently (and Leg0 card swaps, but that's a different matter!) - I always wonder what people think as I'm handing something over (often bagged) in exchange for cash
    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) £7575.92/£7500
    Net sales 2018 £751.22/£1000 PAYDOX18 (#15) Done £18918.90
    • Saving Glut
    • By Saving Glut 4th Oct 18, 11:06 PM
    • 124 Posts
    • 1,096 Thanks
    Saving Glut
    Hi greent. I bet our exchanges with strangers in public places must raise an eyebrow or two! But glad buyer showed up on time and I am getting rewarded for decluttering!

    Today.ís MFW update:
    -Reviewed BTL1 paperwork and confirmed there is no limit to OP, which is a relief!
    - Needed petrol on the way to work today - only bought £10 worth at expensive station, and filled up at a cheaper alternative at lunch time.
    - Had a slow puncture, had to replace three tyres. Bah! Dealership also reminded me that car is due a service. This will cost £149 at least. Must check to see if I have used up all three services I bought as a package.
    Last edited by Saving Glut; 05-10-2018 at 3:25 AM.
    IO BTL1 Mortgage was £97,963 on 09/08/18; £90,641 on 08/12/18.
    • Saving Glut
    • By Saving Glut 6th Oct 18, 3:56 PM
    • 124 Posts
    • 1,096 Thanks
    Saving Glut
    Acupuncture resulted in a rare and beautiful 8 hour sleep, so was energised to crack on with a few MFW activities viz.

    As I have come to end of my 5% cashback term with AMX (earned £125 which I will receive in month 13 after I got card), I applied for a different type of BA AMX card. Fee is £195 and APR of >75%!! I will never pay this card late! I had previous H0F card for about ten years until I realised the points rewards were poor. Now, I have got two cards in the past 4 months! I learned of this card through He@dforpoints website. I requested them to refer me which earned me an additional 1,000 Avios flight points on top of the 25,000 included in card offer. To get the best value for this card, I must charge at least £10,000 to it. No problem for me!! Meanwhile I will cut up my first AMX card.

    Packed and posted an item sold on F8.
    Advertised another item on F8.
    Nudged buyer for a time he will buy an item this afternoon. Looks like I will get back to another interested party who lives more locally.

    Drip fed some F8 sales to mortgage. £58.85 to offset mortgage type account. This was a first for me and I hope to get into this practice, as inspired by other MSErs. Once this pot increases to £500 it can be used to pay off capital. In the meantime, I canít get my hands on it easily and it was rewarding to decrease the mortgage even a little. Updated my signature accordingly!

    I finally and reluctantly delved into a non-UK bank account I have. Itís never as bad as it seems and the more often I venture in there, the better. I calculated that in the past 5 months I have been charged e62 overdrawn fees which are avoidable. This is significantly better that it was in the past. But, Will. Do. Better. Anyways, it prompted me to ask a lovely, long-standing tenant if he had paid his share of the electricity bill and TV licence. 30 minutes later he sent me an email confirming he paid e90 into my account this morning and he confessed he owes me one months rent. So, it was a quick win. Account is up to date, I donít have to fund it. Also, I took steps to be less apprehensive of going in there as I addressed some of the reasons why (hey, I never said I was organised!):

    1. I only have banking app on my iPad not my phone which increases my opportunity to neglect it! Now sorted.
    2. I kept promising myself to create Excel spreadsheet to track. Have never got round to that in the past forever, because of reason 1. above. So, I pulled out a notepad instead, which is perfectly sufficient in the meantime.
    3. I calculated that the Ďmoney iní should exceed the Ďmoney outí marginally in this account every month, thereby reducing reluctance to go have a look around in there.

    Bought some yellow-sticker veggies in todayís shop which looked very healthy!

    Unfortunately, had unexpected bike repair cost of £75. This, together with purchase of very reasonably priced new handbag at TKM@X means I have no spends left until next Friday. Luckily thereís food in the fridge!

    Asked politely if my 5-day late payment for an annual rates bill could be overlooked and which I genuinely thought I had paid. Will find out next week if my pleas have been heard. Otherwise, I will need to cough up about £50.

    Itís interesting how other MSEíers money-saving activities have a habit of ringing in your ears: ďmend and make-doĒ. I bought a lovely journal for setting monthly goals last year. It was really effective for me, so I was tempted to buy another. Company even emailed me a 25% discount offer. Instead, I have retrofitted another journal to incorporate goal-setting.

    Bought DailyM@il newspaper for the first time as it has some offer at the moment. Must check it out before OH realises I bought this paper which they do not approve of!

    Finally, I picked up some free sawdust for my three chooks bedding from local sawmill which should last until Xmas.

    Happy Saturday everyone!
    Last edited by Saving Glut; 06-10-2018 at 4:13 PM.
    IO BTL1 Mortgage was £97,963 on 09/08/18; £90,641 on 08/12/18.
    • greent
    • By greent 7th Oct 18, 9:01 AM
    • 7,596 Posts
    • 77,381 Thanks
    greent
    Fab freebie with the sawdust! And well done on not succumbing to the lure of new stationery - OH and I are both suckers for stationery but I'm on a mission to use up rather than purchase, unless it's a necessity. His current contract has also yielded some freebies here, which helps!

    Also great news on setting a plan to ensure you monitor the Euro account too
    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) £7575.92/£7500
    Net sales 2018 £751.22/£1000 PAYDOX18 (#15) Done £18918.90
    • Saving Glut
    • By Saving Glut 8th Oct 18, 6:21 AM
    • 124 Posts
    • 1,096 Thanks
    Saving Glut
    Hi greent

    Yes, with a creative slant, stationary is one thing that can be re-used, if only we can be lured away from wanting to use the nicest/best quality/best design! Iím going to try to be creative with what I have. Great that one of the perks of the OHís current contract is some extra stationary!

    Re: Euro account: Yep, feeling the fear and venturing in anyway!

    I completed Palace to Palace cycle yesterday in the chilly sunshine. Goody bag included some flapback and fruit snack bars which will come in handy during the week plus 2 complimentary sandwiches from Waitr0se, one of which will I will use for lunch today. I had pre-paid for the event and I had resisted making a purchase at the event so I was on track to have an NSD. Then OH requested I buy some snacks on the way home. Felt mean to charge this treat to joint account, so I didnít, but at least I stuck to snacks only purchase at the supermarket!

    Today I have OP the princely sum of £414.42 into BTL1, reducing the balance to sub £95k to a tidy £94,750!

    OH is away on Sunday so I have a rare window to do paid volunteer work (sounds like an oxymoron?!) at a sportive for the whole day for which I could earn about £90 after tax and petrol. I was somewhat reluctant as it will involve getting up at 5:30and thereís a 43% chance of rain. Then, I remembered, I still have to lure up £94,750 (exactly! ) in the next 8 years and 1 month, so I decided to get on with it! I threw my hat in the ring and volunteered this morning. I shall leave it in the lap of the Gods to determine if my services are required or not!

    Have a good start of week all!
    Last edited by Saving Glut; 08-10-2018 at 7:14 AM.
    IO BTL1 Mortgage was £97,963 on 09/08/18; £90,641 on 08/12/18.
    • Saving Glut
    • By Saving Glut 8th Oct 18, 10:36 PM
    • 124 Posts
    • 1,096 Thanks
    Saving Glut
    So, I was a little uncertain what to do over Xmas, but the sums have helped me to decide:

    Ramped up prices for Xmas flight, car hire, loss of half days pay, plus pet minding equates to a difference of over £700. To see the same people, in the same place with just a week apart!

    Aside from money aspects, it puts Mum under less pressure if her visitors are spread out a little, we will have had a big family get together in November for sister’s 40th. It will be considerably less stressful not to travel immediately before and after Xmas.

    Then the reality of the negative equity I have to make up sets in and my mind is made up!

    We will spend Xmas day with our friends who really want us to be at theirs, with their extended family and friends, all of whom we know over the years and are good fun. Plus, we will get to relax on either side of Xmas which will be most welcome!

    Perhaps some people won’t agree with this approach, but I think it works well for us. I will book Xmas flights much earlier next year.

    Regardless, my flights are booked (registered for Avoio points too!) and will book car hire, I hope through QuidC0 or similar.

    Goodnight all!
    IO BTL1 Mortgage was £97,963 on 09/08/18; £90,641 on 08/12/18.
    • Saving Glut
    • By Saving Glut 10th Oct 18, 5:52 AM
    • 124 Posts
    • 1,096 Thanks
    Saving Glut
    Morning!

    Sold two items on FB yesterday. Am pleased sales are ticking along.

    My euro account for the first time in years, has a little over e1k sitting in it to fund upcoming outgoings.

    Have been requested to work at sportive on Sunday, pay for this will go directly toward BTL1.

    And then these:
    Booked car service (confirmed Iíve spent all three services in my care plan). This will cost approximately £380.

    Boiler repair at BTL3 last weekend will cost approximately £1k, which wipes out my planned BTL1 OP in November of £1,015!

    Iím grateful I can afford to pay bills, but would be nice to get a reprieve for a few week on significant expenditure, or at least earn some cashback with them! Money Gods, are you listening?

    So, this MFW is a rollercoaster, but I know things are moving in a positive direction overall.

    Good luck fellow MFWs!
    Last edited by Saving Glut; 10-10-2018 at 6:09 AM.
    IO BTL1 Mortgage was £97,963 on 09/08/18; £90,641 on 08/12/18.
    • Saving Glut
    • By Saving Glut 12th Oct 18, 7:21 AM
    • 124 Posts
    • 1,096 Thanks
    Saving Glut
    Have sold two more items on FB. Quite a few others are lingering so I may need to think about presenting them differently to get them moving. Using online RM stamp services (paid from PayPol account) and postage collection at work so my clunky process is getting a little more efficient. I will look into more competitive postal services - at some point!

    Have decided to tackle BTL1 mortgage (5.05%, which I may have mentioned before!) with a different approach. My OH will loan me £35k at a rate of 2.5% from her savings accounts, which currently pays her 1.5%. She didn’t want to profiteer, but I insisted we should both benefit. I have agreed to repay over 18 months.

    This £35k will mean my BTL1 will have an LTV of 75%, enabling me to remortgage from 5.05% down to 2.32% (found by mortgage broker). I double-checked that I will not be charged early repayment fees. If I have done my maths correctly, I will have saved approximately £330 per month, which I plan to use to overpay BTL2.

    I will do calculations proper over the weekend, but I think this approach will save me £17k over the lifetime of BTL1, plus some more on BTL2.

    Logging into MSE and focusing on finances daily has really contributed to this significant saving,this free resource really is invaluable.

    In the meantime, I have swept my current account and overpaid BTL1 by £385.20 as today is payday.

    Also paid off AMX balance early and in full as I don’t want to fall foul of their rather high interest rates.

    Happy Friday!
    Last edited by Saving Glut; 12-10-2018 at 1:03 PM.
    IO BTL1 Mortgage was £97,963 on 09/08/18; £90,641 on 08/12/18.
    • Saving Glut
    • By Saving Glut 13th Oct 18, 4:03 PM
    • 124 Posts
    • 1,096 Thanks
    Saving Glut
    The possibility of reducing my interest rate and interest paid significantly led me to investigating the possibility of acquiring a bank loan for BTL2. In theory, a loan of £15k at about 2.8% could be put toward mortgage rate of 5.05%. The eligibility calculator on this site indicates there is a 90% chance that My application would be aporoved. Best to wait until after my remortgage application for BTL1 is approve before I proceed though.

    Taking a loan approach to both these mortgages could lead to a significant reduction of term and money. Must get on cimprehensive mortgage calculator to estimate amount.

    I attended a lecture presented by a world-record breaking adventurer this week. He left us with this question: “Are you leading an adventurous life?”My immediate internal response was: “Not this month - I’m too immersed in being a MFW!
    Last edited by Saving Glut; 13-10-2018 at 4:38 PM.
    IO BTL1 Mortgage was £97,963 on 09/08/18; £90,641 on 08/12/18.
    • greent
    • By greent 14th Oct 18, 1:55 PM
    • 7,596 Posts
    • 77,381 Thanks
    greent
    Great movements/ plans being made here! And MFW-dom is definitely addictive!

    I think we'll be short on repaying BTL sub account 1 here at expiry date. I'm favouring the idea of a possible personal loan at that time to clear remaining balance as I suspect the personal loan rate we could get would be better than what we'd get for remortgaging the remaining balance. We're currently on SVR @ 2.75%. I've looked at remortgaging now and making it repayment as opposed to IO, but financially it didn't make sense - rate/ fees/ flexibility of payments. Personal loan rates indicated are similar or a point or so under SVR, so I'm not bothering yet
    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) £7575.92/£7500
    Net sales 2018 £751.22/£1000 PAYDOX18 (#15) Done £18918.90
    • Saving Glut
    • By Saving Glut 14th Oct 18, 9:12 PM
    • 124 Posts
    • 1,096 Thanks
    Saving Glut
    Thank you greent! I think a competitive loan is a smart idea and it seems we both have time to come up with some more! I intend to read more diaries from those who achieved MF-dom! They must know what theyíre doing! I had also investigated switching to repayment, but for the same reasons as you it seems, IO was better option.

    Remember that euro account I was reluctant to venture into? Well, I took another sneaky peek today and discovered all bills are up-to-date! For partly experimental reasons, I overpaid BTL4 repayment mortgage e100 from this account. Itís good to know that I am setup to do this. I left some buffer room, but would like to start overpaying e30 per month. This was inspired by reading the MFers top tips to overpaying mortgages - every small overpayment helps. I requested the tenants provide an electricity meter reading which I hope will reduce their next quarterly bill. I noticed that the electricity provider offered a 3% discount on gas if I directed that bill through my electricity account with them. Tempting to proceed, but I must investigate what is most competitive for tenants.

    Am I there yet?
    Last edited by Saving Glut; 14-10-2018 at 9:15 PM.
    IO BTL1 Mortgage was £97,963 on 09/08/18; £90,641 on 08/12/18.
    • Saving Glut
    • By Saving Glut 20th Oct 18, 9:26 AM
    • 124 Posts
    • 1,096 Thanks
    Saving Glut
    Hi

    Decided to pop in as I feel I am overdue a visit!

    The major update to report is that OH has got cold feet on loan due to Brexit (and understandably so, as it could affect my job (I’m a contractor for European-owned company which is dependent on ‘just-in-time’ delivery, plus our tenants jobs are also at risk). Therefore, plans for loan are on hold probably until March next year (unless there’s a political miracle!). So, my immediate plan is to continue keeping tight reigns on my spending, topping up my income when possible, avoiding fines/penalties, making sure I manage moneys owed to me (this should total about £1.2k this month) and overpaying what I can.

    And on that note, I OPed £244 this morning! Ooh, tantalisingly close to sub-£93k!

    Key to my success of course will be posting regular updates here!
    Last edited by Saving Glut; 21-10-2018 at 5:24 AM.
    IO BTL1 Mortgage was £97,963 on 09/08/18; £90,641 on 08/12/18.
    • Saving Glut
    • By Saving Glut 26th Oct 18, 7:12 AM
    • 124 Posts
    • 1,096 Thanks
    Saving Glut
    Deposited marshall & FB earnings to BTL1 mortgage today, which, with a little TT, brings the balance sub-£34k. Does anyone understand that sentence?!

    I'm really happy about reaching this mini-goal as it was the sum of lots of different effort and therefore gives me hope that I will persist with my money-saving ways until the end of the year. There! I've written it, so I must continue to be a MFW through to Dec 31st!
    Last edited by Saving Glut; 26-10-2018 at 7:16 AM.
    IO BTL1 Mortgage was £97,963 on 09/08/18; £90,641 on 08/12/18.
    • Saving Glut
    • By Saving Glut 8th Nov 18, 7:36 AM
    • 124 Posts
    • 1,096 Thanks
    Saving Glut
    I have been quieter on here of late, but that doesn’t mean I haven’t been MFWing!

    Still keeping spends down, resulting in an op of £614.23 today. The £14.23 non-TT figure is from FB sales. Hope to TT this up to £1,000 before payday on 14th November. Not certain yet, as long term tenant has fallen behind on rent payments and is playing catch-up. Time will tell and I’m confident he will catch up at some point.

    Also worked as Marshall at weekends, but pay (£95 after costs) won’t hit my bank account until last Friday of month.

    Happy Thursday all!
    Last edited by Saving Glut; 08-11-2018 at 7:39 AM.
    IO BTL1 Mortgage was £97,963 on 09/08/18; £90,641 on 08/12/18.
    • Saving Glut
    • By Saving Glut 12th Nov 18, 7:38 AM
    • 124 Posts
    • 1,096 Thanks
    Saving Glut
    Ding, ding!

    Back to report sub-£93k balance - just! This was my target for mid-November, exactly! This leaves a small amount in my current account before payday on Wednesday, but as I’m morphing into a tight-wad and am unlikely to spend money before then, this isn’t a problem.

    In addition, I read yesterday that house prices and rentals in the area are increasing despite the odds, at the moment. This appears to be good news at first glance, but it appears that it is partly due to landlords selling-up because of upcoming increased taxes. I have no choice but to stay put until I have paid down the negative equity.

    A nice way to kick-start a fresh week!

    Good luck fellow-MFWs!
    Last edited by Saving Glut; 13-11-2018 at 5:31 AM.
    IO BTL1 Mortgage was £97,963 on 09/08/18; £90,641 on 08/12/18.
    • the cross rabbit
    • By the cross rabbit 12th Nov 18, 2:59 PM
    • 257 Posts
    • 1,576 Thanks
    the cross rabbit
    to sub - balance well done on reaching your goal.
    CRx
    Mortgage £82,000, due to end July 2036. 4/11/18 Mortgage £79,872.13
    #67 mortgage free wannabe 2019 0/£800
    • Saving Glut
    • By Saving Glut 13th Nov 18, 6:53 AM
    • 124 Posts
    • 1,096 Thanks
    Saving Glut
    Thank you Cross Rabbit! It seems like we joined MFWs at a similar time so it was interesting to read your about learning curve, which seems similar in ways to mine. And congrats on sub £80k!
    IO BTL1 Mortgage was £97,963 on 09/08/18; £90,641 on 08/12/18.
    • Saving Glut
    • By Saving Glut 14th Nov 18, 1:49 PM
    • 124 Posts
    • 1,096 Thanks
    Saving Glut
    It’s payday!!

    I didn’t leave it sit in my current account too long though! Today I have contributed my half of household funds, paid full AMX cc balance off two weeks early, paid Euroland property tax two months early, topped up monthly tax pot and op £1k into BTL1.

    This site has changed me as I didn't manage any of the above this time 6 months ago. Thanks to all the inspiring people here!

    Last edited by Saving Glut; 14-11-2018 at 3:37 PM.
    IO BTL1 Mortgage was £97,963 on 09/08/18; £90,641 on 08/12/18.
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