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  • FIRST POST
    • Kat78MFW
    • By Kat78MFW 8th Mar 19, 9:36 AM
    • 81Posts
    • 126Thanks
    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 4
    • Kat78MFW
    • By Kat78MFW 8th May 19, 8:30 PM
    • 81 Posts
    • 126 Thanks
    Kat78MFW
    Trying not to get too excited until it's confirmed but I have checked my tax code and I think I have overpaid tax all last year. Up until recently, my tax code has been adjusted to pay self-employed tax through PAYE. I was expecting, at some point, for the amount of tax I pay to drop as I've stopped self-employed work and paid all the tax owed. But it has never happened. I have logged onto my personal tax account today and my tax code on my payslip does not match the tax code on my HMRC account. The HMRC code makes sense based on my personal allowance and professional fees.

    If my calculations are correct, I have overpaid about 600

    I will ring the tax office on Friday to see what's going on and try to get my money back. I have already requested an overpayment of 2.52 back from my self-assessment account.
    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 15th May 19, 12:04 PM
    • 81 Posts
    • 126 Thanks
    Kat78MFW
    My calculations were correct! I have just requested a 574 tax refund from HMRC
    I also over paid tax in April 19 by about 20 but that should work itself out during the tax year.

    DH is feeling very stressed at work at the moment. He is going to speak to his manager at some point about it but, if things don't improve, he may end up having to reduce to four days. I could then do some extra ad-hoc days to try to make up some of the money. Not ideal for our MFW plans but our health comes first.

    Glorious sunny day here today. I have done a 15 minute low impact cardio and a 20 minute yoga stretch in the garden. It's so relaxing with the birds singing and the sun shining.

    Off to get cards and wrapping paper for DH birthday now. Card Warehouse so shouldn't cost too much. Also have some cheques to pay in for DH expenses ~40 so that'll do nicely!

    Have had to move 600 from the EF savings to pay tomorrow's colossal 2300 credit card bill but I'll replace this with the tax refund money when it arrives.
    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
    • Makethedayscount
    • By Makethedayscount 16th May 19, 5:14 PM
    • 64 Posts
    • 377 Thanks
    Makethedayscount
    Great news on the tax refund! Have subscribed to your thread and wishing you well on your journey

    • Kat78MFW
    • By Kat78MFW 16th May 19, 6:01 PM
    • 81 Posts
    • 126 Thanks
    Kat78MFW
    Hi Make the Days Count - thanks for subscribing.

    More good news today, although on a much smaller scale than the tax refund. I had a phone call from TSB in response to my letter about the 6 fee for being 73 into my arranged overdraft for 24hrs. They have agreed to refund it as a goodwill gesture. I was really surprised and so pleased that I took the time to write the letter. Small victories!
    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 16th May 19, 6:08 PM
    • 81 Posts
    • 126 Thanks
    Kat78MFW
    My 15 minute low impact cardio yesterday has left me aching so much today that I can hardly walk! No body balance tonight (luckily!) as the sun is shining so DD1 is at cricket training instead of tennis. It's a pleasant evening here so I feel as though I should go for a little walk but it's just too painful! I'll try to fit in some yoga stretches later to try to ease the stiffness. The balance class costs 5.70 so that's some money saved.

    Have booked myself to work a long day (9hrs+) on a Friday at the beginning of June and I need to look at the calendar to see if I can fit another one in at the beginning of July. The extra money should be a big help.
    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 16th May 19, 9:27 PM
    • 81 Posts
    • 126 Thanks
    Kat78MFW
    After some gentle stretching, I managed to ease my muscles off enough to go for a half hour power walk. I managed about 4000 steps. I have done an 18 minute "runners yoga" this evening in an attempt to help my aches further.

    More good money news - DD2 will be 10 next month and I really want to buy her the lego Harry Potter great hall at about 80 on Amazon. My topcashback of 90 has just become payable so I have requested an amazon gift card payout which gives me a 2% bonus on top. It's a more expensive gift than I would normally get her for a birthday but she is Harry Potter crazy and I can imagine her having hours of fun playing with the little mini figures and their broomsticks. My plan is to pay for it with the topcashback payout and then just get tiny stocking filler type presents so she has more than one thing to open. So far I have picked up a book for 2 at The works (reduced from 4) and a bubble wand for 50p. I want to see if I can get her one more gift (ideally for under 1) and that should be her done.

    I did put a request on a local Facebook selling site to see if anyone was selling Harry Potter Lego or other items but I've had no reply. My SIL has bought us all tickets to go to the Harry Potter studio tour in July for all of our birthdays this year. I can't wait to see DD2s face when she opens the tickets.
    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 May 19, 9:03 AM
    • 68 Posts
    • 203 Thanks
    ElmoR
    That's a lot of birthdays coming up Kat!
    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 18th May 19, 9:54 AM
    • 81 Posts
    • 126 Thanks
    Kat78MFW
    Yep loads of presents required but at least it means we mostly keep birthdays away from the expensive months before and after Christmas.
    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
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