Mortgage done and dusted!

What a weight off our shoulders and a sense of achievement!

On 1st March we were able to transfer all the money over to the Nationwide and call them to say our mortgage is paid! They were pleased for us and asked how we’d celebrate, strange feeling. We didn’t really do much as a celebration but both felt pleased with ourselves having paid this off 4 years early and now have that money to spend. Well, for the first year we will be saving like mad to build up the car money we delved into so as to make up the balance, but that won’t take long to do.

We intend to review how best to deal with our finances now and will have a think about the best savings options. There is always the temptation to get another mortgage and buy a second home, I really don’t know if that’s something we will seriously consider, we shall have to wait and see I guess.

So that’s it – no more mortgage…for now!

Mortgage–we’ve done it!

Received a cheque in the post today for £56,477.60 which will go towards paying off our £62,882,37 final balance! So we will use £6.4k of saving that we will replenish over the coming 12 months!

So pleased to have finally got to this point – 4 years ahead of schedule and before we’re 50 years old!

The fact we have to delve into some savings doesn’t worry me as we will recoup that and all the money we now have is our own and not going towards interest payments and the bank!

Might treat ourselves to a drink later – although Jack’s schoolwork is suffering so I don’t think the atmosphere at home is the best when I get there!!

Ah well – it’s not going to dampen my spirits

Mortgage Pay-Off proceeding with–oh dear!

So we decided to send the surrender instructions over to Abbey Life and since doing so in the last 3 days the shares have dropped by over £1,000.00! Isn’t that bloody typical. I just hope that the letter gets to them asap and the shares are sold at not so much of a loss. I am trying my hardest not to let it concern me but it’s pissing me off that we have to do it via post and not over the phone – it does seem incredibly out-dated. Especially as they send me a cheque for the monies raised, very antiquated!

So at the time of writing I don’t know how much the final amount will be – I just hope it’s close to £55,000 still!

Lewis Pay-Rise

Lewis sent through an email today saying that he was called into the office with two managers and since he’d had a couple of awkward clients the previous day he was a bit nervous, but they told him how pleased they were with him and gave him a pay-rise from £22k to £28k – that’s huge. Not bad for a 22 year old University drop-out!! Really pleased and proud for him. We are encouraging him to save for a mortgage at the minute and hopefully with this few hundred pounds a month extra he will be disciplined – we’ll see!

Well done to him!

This was his email:

Before you open the attachment read this:

So today is our team meeting day and this afternoon all of us have a big meeting together discussing the last 3 months of work.

Just now though, I got taken to a side office with my two bosses. (Was terrified)

Turns out they have had a discussion and have been so pleased with me and my attitude towards the work they have given me something.

Now look at the picture.

I got a bit emotional because they hadn’t given me any form of warning that they were doing it and I have been told this all had to be done earlier and that it had been missed!!

They laughed and now I go back to work.

Am so happy and just needed to tell someone because I obviously can’t say anything to anyone here!!!

Love you both!! xxxx

Oh My…Our Mortgage Situation

We received our statement a week or so ago and reading through it I was surprised to see that we’re very close to completing it! I spent a while on Sunday night doing the maths to see if paying it off 4 years early and dipping into a few savings was worth it and also whether the endowment plan would increase enough to keep hold of it and keep paying into it. I phoned the Abbey Life earlier today and got and update and then spoke to Mark O’Hara on whether there were things I was missing. I think if there are no tax issues then we’re going to go for it and pay it off in the next few days!

WOW!! If that’s the case I can’t believe it, what a result that would be - £600.00 per month better off as a result and money that we can save and spend on ourselves

Will speak to the bank again tomorrow and then make a decision..I’m excited