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
    • Kat78MFW
    • By Kat78MFW 8th Mar 19, 9:36 AM
    • 49Posts
    • 50Thanks
    Kat78MFW
    Six years and counting!!
    • #1
    • 8th Mar 19, 9:36 AM
    Six years and counting!! 8th Mar 19 at 9:36 AM
    With this month's payment our mortgage balance stands at just below £55 000. I am starting a diary on here to try to pay it off as quickly as possible. My spreadsheet suggests that, if we continue to pay at the current rate of £800 per month, our final payment will be in March 2025. However, DD1 is likely to start uni in September 2024 so my plan is to increase the payments so that it is cleared before she goes. Then we can divert the money that had been going towards the mortgage to cover her living expenses (due to our joint income, she will only get the minimum maintenance loan). If DD2 also goes to uni, she will be starting in September 2027 so hopefully they won't both be there at the same time.

    First step towards this goal will be to increase the mortgage payments by £100 per month this summer once DH has finally made the last payment on his student loan. If we can achieve that, then we could be mortgage-free in August 2024!
Page 2
    • ElmoR
    • By ElmoR 31st Mar 19, 9:49 AM
    • 57 Posts
    • 160 Thanks
    ElmoR
    Just popping in to say I've subscribed to your thread and following with interest
    ElmoR
    2018 £40,000 and 2027 M end date
    Aiming to reduce to, using OPs: 2019 £30k, 2020 £20k, 2021 £10K, 2022 MF
    • Kat78MFW
    • By Kat78MFW 2nd Apr 19, 7:53 PM
    • 49 Posts
    • 50 Thanks
    Kat78MFW
    Disappointed to see that NW are pulling their 5% regular saver. This was such a great account for an EF as you could pay in £250 per month but, unlike most regular savers, it was instant access.

    I opened our new one about a week ago so at least we will get one more year with this account but I am sad that I won't be able to open another one next year.
    Current mortgage (March 19) £54 943 (5yr fix since Jan 18 Interest Only 1.99%)
    Current monthly payment £799 (£109 interest and £690 repayment)
    Current Mortgage Free Date March 2025
    Opening mortgage balance June 2002 - £114 000
    Re-mortgage May 2007 £118 000 (borrowed extra £14 000 to pay loan back to BIL+SIL)
    Agreed repayment date May 2027
    • greent
    • By greent 3rd Apr 19, 9:24 AM
    • 8,032 Posts
    • 81,453 Thanks
    greent
    I like Pr0lific - have earned about £85 since Jan. Been very quiet for me on there this week (I don't think I've done any!) I cash out via Circle as soon as my payout is £20 or more 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 12/18 £54829 2019 OPs (#18) £1603.41/£5K
    Net sales 2019 £155.17/£500
    • Kat78MFW
    • By Kat78MFW 7th Apr 19, 11:23 AM
    • 49 Posts
    • 50 Thanks
    Kat78MFW
    I like Pr0lific - have earned about £85 since Jan. Been very quiet for me on there this week (I don't think I've done any!) I cash out via Circle as soon as my payout is £20 or more x
    Wow! £85 since Jan is amazing. I am creeping towards £20 and then I'll do the Circle cash out.

    It has been a spendy time but nearly all necessary and planned (car #1 service, DH glasses, DD1 cricket subs, DD2 new school shoes, DD1 new PE kit).

    Also had some unnecessary but worthwhile and very enjoyable spends (curry out with DH and DD1, visit to nature centre with DD2, DD2 ice skating).

    Finally, some money saving wins. My parents paid for my train tickets to visit them. Car had a nail in a tyre but it was fixed for £25 rather than needing a new tyre. Despite having an hour and a half to kill while waiting for the car, I only spent £3 on myself while pottering round the retail park. I bought a £10 gift voucher for a friend as a housewarming gift and a £8 power pack for DD1 for her school trip but otherwise resisted spending. I also managed to get some small free samples of two different foundations from the No7 make-up counter. I rarely wear a full face of make-up so these little pots should last quite a while!

    My £3 spend was for a money-saving and eco plan. It was a wall mounted, very little bucket to hold washable wipes to use instead of toilet paper! I am going to use some old cloth nappy boosters to repurpose into small wipes. I am not going the whole hog and ditching toilet roll entirely but I think for wees these wipes will be perfect. I have a little lidded bin where I can keep the used wipes until they go in the wash. I don't think the rest of the family are up for it but I am going to try it for a few weeks and see how I get on. I have to sew the wipes first though as they will fray otherwise. Hope that's not TMI for a MFW diary.
    Current mortgage (March 19) £54 943 (5yr fix since Jan 18 Interest Only 1.99%)
    Current monthly payment £799 (£109 interest and £690 repayment)
    Current Mortgage Free Date March 2025
    Opening mortgage balance June 2002 - £114 000
    Re-mortgage May 2007 £118 000 (borrowed extra £14 000 to pay loan back to BIL+SIL)
    Agreed repayment date May 2027
    • Kat78MFW
    • By Kat78MFW 9th Apr 19, 10:16 PM
    • 49 Posts
    • 50 Thanks
    Kat78MFW
    Tonight I had a look at our gas and electric. We are currently with Tonik on a green energy tariff and pay £75 per month but our fix ends at the end of May. Unfortunately, to stay on the same kind of green energy is going to mean a £20-25 per month hike in bills. I did a comparison and Bulb came up about £60 per year cheaper (for comparative green energy) but theirs is a variable tariff. If I stick with Tonik, I can fix for another two years. Tonik also pay 3% interest whenever we have a credit balance so I have decided to stay put and signed up for their two year fix.

    Found out that my M&S gift card balance (received as a current account switch incentive) has been creeping up by £5 per month. As part of the switch deal, if you have 2 active DDs and pay in £1000 per month, for one year they would add £5 per month credit to the gift card. I thought that this would happen once the year was over but, thanks to a post on the forum, I have found out that the credit is applied each month. So I have £20 credit - I'm going to save up the credit to spend on Xmas presents closer to the time.
    Current mortgage (March 19) £54 943 (5yr fix since Jan 18 Interest Only 1.99%)
    Current monthly payment £799 (£109 interest and £690 repayment)
    Current Mortgage Free Date March 2025
    Opening mortgage balance June 2002 - £114 000
    Re-mortgage May 2007 £118 000 (borrowed extra £14 000 to pay loan back to BIL+SIL)
    Agreed repayment date May 2027
    • ElmoR
    • By ElmoR 16th Apr 19, 6:55 AM
    • 57 Posts
    • 160 Thanks
    ElmoR
    Have not even heard of all those Gas and Electric suppliers, sounds like you have more choice than in our region. Mind you, we have a telecom provider monopoly in this region too, though they do seem to stack up well in cost terms against the main other companies.
    Did you join the MSE Energy Club? They will send you an alert when they detect that you are spending more than any new deals available. You can set the threshold at a minimum amount to take penalties into account too. Last year we even got money back by switching via them too.
    ElmoR
    2018 £40,000 and 2027 M end date
    Aiming to reduce to, using OPs: 2019 £30k, 2020 £20k, 2021 £10K, 2022 MF
    • Kat78MFW
    • By Kat78MFW 17th Apr 19, 8:14 PM
    • 49 Posts
    • 50 Thanks
    Kat78MFW
    Thanks for the tip on the MSE energy club. I'll have to see if there is an option to select only green energy as I'm happy to pay a bit extra to know that we're getting renewable energy.
    Current mortgage (March 19) £54 943 (5yr fix since Jan 18 Interest Only 1.99%)
    Current monthly payment £799 (£109 interest and £690 repayment)
    Current Mortgage Free Date March 2025
    Opening mortgage balance June 2002 - £114 000
    Re-mortgage May 2007 £118 000 (borrowed extra £14 000 to pay loan back to BIL+SIL)
    Agreed repayment date May 2027
    • Kat78MFW
    • By Kat78MFW 17th Apr 19, 8:30 PM
    • 49 Posts
    • 50 Thanks
    Kat78MFW
    Feeling a bit down about our finances at the moment - wondering whether I'm kidding myself a bit bring on the MFW board and whether I need to be a DFW first. We just seem to be spending so much every month - the credit card bill is over £2000 each month and, although we are still managing to pay it off in full, I feel as though we are getting closer to not being able to. Over the past week, I have been putting stuff on my new Tandem card to delay when we need to pay it off. Feels like a bit of a slippery slope.

    On a brighter note, we had an unexpectedly low spend day today. With DD1 away on a school trip, we wanted to have a special treat day with DD2. She chose to go to a local amazing adventure playground in the grounds of a stately home (cost ~£35 entry). Halfway there, I checked the website and found that it closed last year. So we pulled into the nearby National Trust place and had our picnic next to the (free) car park there but didn't pay to go in. Then we drove to a nearby free country park and she went on the playground there. Not quite as amazing a playground but she still had fun. So our only spend was £5ish on ice-cream. We even took a thermos with our own coffee in!

    DH did very well in the Sainsburys sale as he needed some new trousers for a wedding we are going to tomorrow - he picked up an £18 pair of trousers for £6.75 and also bough an ASDA shirt for £8 and got a tie for £1 from a charity shop.

    I am wearing a dress that I got in the sale a couple of month ago (and wore on holiday in Feb). I'm hoping it will go with an old white suit jacket that I have. If not, I'll go without a jacket as the weather forecast is good and I'll just take a little white cardi in case it's chilly in the evening. DD2 is going to SIL and DD1 will still be on her school trip so DH and I will have a rare child free night out. Shouldn't cost too much as we are coming home afterwards as it's fairly local. I don't drink so I'll drive home so no expense for a taxi.
    Current mortgage (March 19) £54 943 (5yr fix since Jan 18 Interest Only 1.99%)
    Current monthly payment £799 (£109 interest and £690 repayment)
    Current Mortgage Free Date March 2025
    Opening mortgage balance June 2002 - £114 000
    Re-mortgage May 2007 £118 000 (borrowed extra £14 000 to pay loan back to BIL+SIL)
    Agreed repayment date May 2027
    • Kat78MFW
    • By Kat78MFW 17th Apr 19, 8:31 PM
    • 49 Posts
    • 50 Thanks
    Kat78MFW
    *being on the MFW board
    Current mortgage (March 19) £54 943 (5yr fix since Jan 18 Interest Only 1.99%)
    Current monthly payment £799 (£109 interest and £690 repayment)
    Current Mortgage Free Date March 2025
    Opening mortgage balance June 2002 - £114 000
    Re-mortgage May 2007 £118 000 (borrowed extra £14 000 to pay loan back to BIL+SIL)
    Agreed repayment date May 2027
    • ElmoR
    • By ElmoR 18th Apr 19, 6:33 AM
    • 57 Posts
    • 160 Thanks
    ElmoR
    It does often feel like one step forwards and two steps back on this journey, things crop up and derail what you hoped would be earmarked for an O/P. It seems to be cars, vets and dentist that ambush me. Keep plugging away though and the long term trend will always be in the right direction
    Plus, it sounds like you enjoy lots of activities together with your girls and I would say that is pure gold in itself.

    ElmoR
    2018 £40,000 and 2027 M end date
    Aiming to reduce to, using OPs: 2019 £30k, 2020 £20k, 2021 £10K, 2022 MF
    • Kat78MFW
    • By Kat78MFW 22nd Apr 19, 8:49 PM
    • 49 Posts
    • 50 Thanks
    Kat78MFW
    Had a virtually spend free bank holiday weekend in the sunshine. It has been glorious. DH has taken FIL to the cricket (expected entry £24 but he was given a free ticket outside the ground), taken my dad to the snooker (ticket was a birthday present) and the football with FIL and DD1 (he has a season ticket). He will have spent a bit of cash on refreshments but only a small amount as he has been doing the driving.

    The wedding was amazing - the most wonderful food I think I have ever had. A fine dining experience that we would never normally have. A beautiful venue and a very happy couple - must have cost a fortune and not an MSE wedding at all! We only spent £12 on drinks and I drove home so no overnight accommodation expense.

    I am up to £22 on Prolific Academic now so will cash out via Circle. DD2 did a YouGov survey this morning for me. The girls love it when a survey comes up that asks for a child to complete it.

    I've got to work a long day tomorrow and then I'm off again until Monday.

    A belated Ha
    Current mortgage (March 19) £54 943 (5yr fix since Jan 18 Interest Only 1.99%)
    Current monthly payment £799 (£109 interest and £690 repayment)
    Current Mortgage Free Date March 2025
    Opening mortgage balance June 2002 - £114 000
    Re-mortgage May 2007 £118 000 (borrowed extra £14 000 to pay loan back to BIL+SIL)
    Agreed repayment date May 2027
    • Kat78MFW
    • By Kat78MFW 22nd Apr 19, 8:50 PM
    • 49 Posts
    • 50 Thanks
    Kat78MFW
    Had a virtually spend free bank holiday weekend in the sunshine. It has been glorious. DH has taken FIL to the cricket (expected entry £24 but he was given a free ticket outside the ground), taken my dad to the snooker (ticket was a birthday present) and the football with FIL and DD1 (he has a season ticket). He will have spent a bit of cash on refreshments but only a small amount as he has been doing the driving.

    The wedding was amazing - the most wonderful food I think I have ever had. A fine dining experience that we would never normally have. A beautiful venue and a very happy couple - must have cost a fortune and not an MSE wedding at all! We only spent £12 on drinks and I drove home so no overnight accommodation expense.

    I am up to £22 on Prolific Academic now so will cash out via Circle. DD2 did a YouGov survey this morning for me. The girls love it when a survey comes up that asks for a child to complete it.

    I've got to work a long day tomorrow and then I'm off again until Monday.

    A belated Happy Easter to you all!
    Current mortgage (March 19) £54 943 (5yr fix since Jan 18 Interest Only 1.99%)
    Current monthly payment £799 (£109 interest and £690 repayment)
    Current Mortgage Free Date March 2025
    Opening mortgage balance June 2002 - £114 000
    Re-mortgage May 2007 £118 000 (borrowed extra £14 000 to pay loan back to BIL+SIL)
    Agreed repayment date May 2027
    • Kat78MFW
    • By Kat78MFW 24th Apr 19, 10:56 AM
    • 49 Posts
    • 50 Thanks
    Kat78MFW
    I still haven't spent anything since a supermarket shop on Good Friday. DH has been to B&Q today to buy some paint and a sprayer to paint the fence that he has put up. He has also bought a beautiful frame for our nephew for his 18th next month. It only cost £6.99 and he got the print to go in it for free with his football season ticket reward points. It looks like a £30 or £40 gift now.

    I need to ring up and pay a deposit for our holiday next Easter - about £350 I think.

    As well as being accountable on here for our spending, I am going to try to keep track of my exercise as I had a bit of a shock on the scales on Monday evening. I am 6 pounds over my preferred weight. I am only small so every extra pound really shows!
    Current mortgage (March 19) £54 943 (5yr fix since Jan 18 Interest Only 1.99%)
    Current monthly payment £799 (£109 interest and £690 repayment)
    Current Mortgage Free Date March 2025
    Opening mortgage balance June 2002 - £114 000
    Re-mortgage May 2007 £118 000 (borrowed extra £14 000 to pay loan back to BIL+SIL)
    Agreed repayment date May 2027
    • Kat78MFW
    • By Kat78MFW 24th Apr 19, 11:04 AM
    • 49 Posts
    • 50 Thanks
    Kat78MFW
    Confession - I just realised I was kidding myself about the no spend since Good Friday

    On Saturday, DD1 needed new cricket spikes £40, DD2 needed new trainers £23 and we bought some shuttlecocks for £5.99 for garden badminton.

    But other than that no spends!
    Current mortgage (March 19) £54 943 (5yr fix since Jan 18 Interest Only 1.99%)
    Current monthly payment £799 (£109 interest and £690 repayment)
    Current Mortgage Free Date March 2025
    Opening mortgage balance June 2002 - £114 000
    Re-mortgage May 2007 £118 000 (borrowed extra £14 000 to pay loan back to BIL+SIL)
    Agreed repayment date May 2027
    • Kat78MFW
    • By Kat78MFW 24th Apr 19, 11:16 AM
    • 49 Posts
    • 50 Thanks
    Kat78MFW
    Exercise diary
    I was too tired yesterday after a long day at work so today is Day 1. My aim is to fit in some cardio exercise and some yoga every day. (mainly via YouTube videos)

    Day 1 - completed 15 minute cardio/arms and 10 minute standing abs workout. Then Day 24 Dedicate yoga (Balance). I did it all in the garden and the standing meditation, with the birdsong all around me and the sunshine breaking through the cloud, was really special. I don't think I have ever felt so relaxed and chilled. Need to be extra careful about limiting my snacks - I'm terrible for snacking in the evenings and when I'm preparing food.
    Current mortgage (March 19) £54 943 (5yr fix since Jan 18 Interest Only 1.99%)
    Current monthly payment £799 (£109 interest and £690 repayment)
    Current Mortgage Free Date March 2025
    Opening mortgage balance June 2002 - £114 000
    Re-mortgage May 2007 £118 000 (borrowed extra £14 000 to pay loan back to BIL+SIL)
    Agreed repayment date May 2027
    • Kat78MFW
    • By Kat78MFW 25th Apr 19, 10:16 AM
    • 49 Posts
    • 50 Thanks
    Kat78MFW
    Day 2 - 15 minute cardio barre workout done. Also due to do a 45 minute body balance gym class this evening while DD1 has a tennis class.

    I am doing well with reducing my snacking, keeping portion sizes down and having fewer treats.

    Disappointed to discover last night that, due to my pacemaker, I cannot use my body fat analyser scales anymore. I don't think I need to replace them though as I can still use them to weigh myself, I just need to keep my feet off the electrode pads.

    My only spend today will be £5.75 on the gym class. Holiday deposit yesterday was £370. DH is going to buy some bread rolls, ham and a shelf to store our borrowed sewing machine on.
    Current mortgage (March 19) £54 943 (5yr fix since Jan 18 Interest Only 1.99%)
    Current monthly payment £799 (£109 interest and £690 repayment)
    Current Mortgage Free Date March 2025
    Opening mortgage balance June 2002 - £114 000
    Re-mortgage May 2007 £118 000 (borrowed extra £14 000 to pay loan back to BIL+SIL)
    Agreed repayment date May 2027
    • jodles16
    • By jodles16 25th Apr 19, 10:28 AM
    • 1,433 Posts
    • 4,317 Thanks
    jodles16
    This board is for anyone who dreams about being mortgage free, I took a break overpaying the mortgage for over a year and have only just started overpaying again. I have other debts as well as the mortgage, but overall, I wannabe mortgage free


    Sounds like you are already making great inroads!


    Jodles
    MFW2017 #29 1200.24/4524
    MFiT #66
    Overall aim 10,124.20/21,743 (£156,000)
    2016- Jan-£177,472, Apr-£173,195.04, July- £171,417.47 Oct- 169,366
    2017- Jan- 167,347.80 Apr- July- Oct-

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

3,486Posts Today

7,243Users online

Martin's Twitter
  • Have a great Easter, or a chag sameach to those like me attending Passover seder tomorrow. I?m taking all of next? https://t.co/qrAFTIpqWl

  • RT @rowlyc1980: A whopping 18 days off work for only 9 days leave! I?ll have a bit of that please......thanks @MartinSLewis for your crafty?

  • RT @dinokyp: That feeling when you realise that you have 18 days of work and only used 9 days of your annual leave! Thanks @MartinSLewis h?

  • Follow Martin