£195,000 mortgage for a single mum!

Have now received documentation about my 2nd mortgage as to how much it will cost per month.

So my total monthly payment at the moment is £800.50. This will be less next month due to my overpayment earlier in the week.

I don't think I will make any more overpayments in March as I'm still figuring out how much money I'll have left each month and there are going to be a few expensive months redecoration wise.

So far this month, I haven't spent much.

£3.89 on groceries (my budget is £150).
£4.50 on me (my budget is £150).
£0 on my girls (my budget is £100).
£0 on petrol (my budget is £50).

But it is only 3rd of the month and I usually do my spending at the weekend, eek!

Just received my letter telling me my new payment for my 1st mortgage as I overpaid last month. It has gone down by £21.93 and is now £393.71. Not a huge difference, but I think will make a big psychologically difference to have both mortgages under £400.

My total mortgage payment for April is £778.57 which in my head sounds so much better than £800.50!

My thinking is that I will now put this £21.93 as an overpayment every month anyways along with any extra payments, but it is nice knowing that that option to only pay the lower amount is there.

My brother and sil are still living with me, but completing on their house this Friday. Think they will be staying another month or so until they have ripped out and replaced certain things in their house.

Waiting for letters for council tax and water now so I can ring them up and change details and direct debits and change to single occupancy and pay over 12 months, so have an idea of my SoA for the future. Might post it here a bit later.

Income - £1,933.12 - sometimes more than this depending on how the month falls.
Child Benefit - £137.60
Child Maintenance - £350.00
Ex pays for swimming for one child - £21.00
Total - £2,441.72

Mortgage (1) - £393.71
Mortgage (2) - £384.86
Childminder - £350.00
Groceries - £200.00
Travel - £194.13 - I don't pay this at present. This is an average.
Personal - £150.00 - I need to break this down more, at the moment, I'm useless at sticking to it.
Pension - £108.12
Girls - £100.00 - This is clothes, days out etc.
Council Tax - £92.74 - Over 12 months and I will get 25% discount.
Gas/Electricity - £72.00
Petrol - £50.00
Swimming Lessons - £42.00
Breakfast Club - £32.00
Water - £29.38 - Thinking of spreading this over 12 months.
Mobile - £29.00
Tax Credits Debt - £22.65 - Until July 2022!
Line Rental - £17.99
TV Licence - £12.12
TV Package - £10.50 – Planning on basic TV package with £3 for children’s channels.
Savings for Nephew – £10.00 – Will be born in June.
Cat Insurance - £5.78 - This is going. Brother is taking cat.
Fridge Insurance - £4.79
Broadband - £3.85 – Until 30th December 2016 and then £18.

Non Monthly Bills
Car Insurance - £29.17
Car Service - £16.67
Daughters’ Drama/Dancing Class - £18.00
Dog Insurance - £14.79
House / Contents - £12.50
Daughters’ Rainbows/Brownies - £11.25
Road Tax - £10.83
Breakdown Cover - £7.08
MOT - £3.75
Dentist - £1.75

Total - £2,441.41

Surplus - £0.31!


Bit worrying, but I did take my income as a minimum. Yeesh!