£195,000 mortgage for a single mum!

pollyanna24 · 19 December 2015 at 12:41AM

Thanks guys.

I'm not sure about tv as I've never really had to think about it before. Yeesh, I know that sounds bad at 34, but when my bro moved in and insisted on sky, I let him get on with it! We also have Netflix and Amazon prime connected to the front room, but I'm not planning on having any of this.

My girls like the recordable aspect and watch stuff that I record over and over, films and stuff off Disney junior mainly. Me? I am happy with Corrie and eastenders!

So they are in for a shock when he moves out. I'll look into everything a bit more closer to April which is when he's planning on going.

sarahevie1 · 21 December 2015 at 1:22PM

I think for such a massive mortgage the payments are quite reasonable.

You'll be at £750 a month before you know it x

pollyanna24 · 21 December 2015 at 3:50PM

Yikes, now you've scared me. Is it that massive? Suppose it is quite large. But it is over 30 years (for one mortgage) and 28 years (for the second), so in it for the long haul!

selloptape · 21 December 2015 at 4:22PM

I'm sure your girls would be fine with freeview - my son mainly watches Youtub3 these days and isn't fussed on regular TV at all. A lot of his friends have Sky but he's never asked for it

x

pollyanna24 · 21 December 2015 at 4:25PM

selloptape wrote: »

I'm sure your girls would be fine with freeview - my son mainly watches Youtub3 these days and isn't fussed on regular TV at all. A lot of his friends have Sky but he's never asked for it x

Thanks. They do spend a lot of time on Youtub3 watching people make cakes and stuff out of Playdoh. Seems terribly boring to me, but then I guess me watching the news is to them. They are at my Mums this week and she doesn't have any of the fancy channels (think she has a basic Virgin package) and it's a case of they know nanny hasn't got the channels, so they don't bother asking, whereas at my house, they know they exist!

I think I will review my options re TV when the time comes, but they are definitely only getting basic TV in their rooms with a DVD player attached to the TV.

pollyanna24 · 22 December 2015 at 3:15PM

Cant decide whether to start a new diary when the house is in my diary or just keep going on this one. I had another one years ago, but can't find it now (EDITED to add - I have now found a couple of diaries and have posted the links in the first entry of this diary).

Doing quite well on the not spending, so have quite a lot scheduled to go in savings for December (£2,368.94). Appreciate it sounds like a lot, but I'm saving everything I can while I'm only paying 1/2 a mortgage and bills instead of 2 mortgages and all the bills!

I have £31.96 left in my allocated budget that I give myself:-

£150 for groceries
£150 for my personal spends
£100 for my girls
£50 for petrol,

but don't think I'll stick to it as it's only 22nd December. I've completely gone over on some of the budget and am now taking from other parts, so I really should just rejig it, but can't figure out where to take from and where add to. I just need to spend less!

pollyanna24 · 19 January 2016 at 4:50PM

I have a completion date!

Me and my brother put things on hold over Xmas as he wasn't moving out straightaway, but has now put an offer on a house.

So the house will be mine on 19th February. I've rang the solicitor and she said she will reopen/view the file at the end of January and get everything in place.

Going by my spreadsheets (I have done them up till end of mortgage in 2046!), my existing mortgage will be 105,032.96 on that date.

Added to the second mortgage I am getting, I will owe £200,032.96! Scary figure!

But I do have some savings, so will overpay about £5,000 initially (but need to keep some savings back for things that need once house is in my name), so will be fairly near the £195,000 that I have quoted in my mortgage diary heading.

pollyanna24 · 11 February 2016 at 4:28PM

No change from my last post, but I am getting fairly excited about the whole prospect of the house being in my name and I can start overpaying and know where I stand re payments etc.

In my last post, I said that my existing mortgage on 19th February would be £105,032.96. Just checked again and it should be £105,032.75, so already a saving of 21p, yay!

I have done a spreadsheet all the way up to 2044 for my 2nd mortgage, haha, so I'm prepared!

When the house is in my name, I plan to properly use this diary to nag myself about spending, but as it is, I find it hard to part with money.

Savings for February 2016 stand to be £2,006.13, but there are things that I haven't budgeted for and I'm not sure my budget of personal spends will be enough.

I'm going out for dinner on 27th February, but this usually costs £20 and is bring your own alcohol, so should be okay.

Things I haven't put in my budget for March are:-

Afternoon tea with family on Easter Saturday.

Trip to London Aquarium (have a 50% off voucher) so hoping not ridiculous amount.

So that's it. Shall be back next week to confirm that the house is mine. Still terrified that it won't go through, but rang my solicitor yesterday and she said everything is fine and that I should receive a completion statement by the end of yesterday (I didn't, but I won't bug her about this until next week).

jodles16 · 11 February 2016 at 7:57PM

Wow what an exciting/stressful time! Fingers crossed that it will all go smoothly and you can relax knowing you and the girls own it!

Jodles

pollyanna24 · 19 February 2016 at 10:19AM

So 19th February is finally here!

First thing I did when I woke up was look at my internet banking. Didn't expect to be showing there as I'm guessing my solicitor will ring me later saying we've completed, but...

The Further Advance is already there. Yikes. I now have two mortgages.

The Further Advance shows as £95,012.18 which has confused me a little bit. Where has £12.18 come from? Although (because I'm that pedantic), I have worked out daily interest to be £6.09 and that works out to be exactly 2 days. But why have they charged since Wednesday? But anyways, not sure if there's anything I can do about that. Maybe it's just life.

So, all very exciting!!! Spoke to my brother who said he checked his bank at 6am to see if his money had gone in and it hasn't, so I guess the next thing is to await real confirmation from the solicitors.

I haven't had anything from Nationwide and I don't think they even have the bank details I want the payments to come out from (at present, the first mortgage comes out of the joint account I have with my brother). Do I wait for a letter from them? Only the next payments are due on 1st March.

My official starting balance is more than my title says, but I do have a little bit of savings and I will put that on the mortgage now it's in my name.

So starting balance is: £200,044.89!!!!!

£195,000 mortgage for a single mum!

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