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  • FIRST POST
    • sammy70
    • By sammy70 24th Sep 13, 4:58 PM
    • 366Posts
    • 935Thanks
    sammy70
    our forever patch challenge
    • #1
    • 24th Sep 13, 4:58 PM
    our forever patch challenge 24th Sep 13 at 4:58 PM
    well, this week sees the new start to my mortgage free plans. After 18 months clearing debts, then paying for our wedding, which took most of our hard earned savings, we are at the beginning again.

    Due to restructure at work, OH is on a reduced monthly pay, so the savings are even more of a challenge!
    Our plan is over the next two-three years, build up savings , and make over payments, untill we have enough saved to clear the outstanding balance owed on our mortgage, then sell this house, and use the sale proceeds as deposit on our "forever home", we really want somewhere with an acre or so of land, to allow me to have my own horse again, and OH to have garage/workshop he has always wanted.

    we both get paid this week, i will open new savings online, and let the challenge to get our new home begin!, we get married on Friday, this will be the start of our married life adventure too, !!
Page 20
    • chumpy45
    • By chumpy45 17th Jul 16, 1:40 PM
    • 222 Posts
    • 858 Thanks
    chumpy45
    I agree, you have nothing to lose by making the offer. Sounds really exciting. Good luck ��
    Starting Mortgage 01.08.08 £171,209.24. Mortgage as at 01.09.15 - £54,780.04; 01.11.15 £49,577.04;01.03.16 £45,799.32; 01.08.16 £42,418.93; 01.10.16 £40,119.52 MFW Target date Sept 2017;
    • sammy70
    • By sammy70 17th Jul 16, 5:34 PM
    • 366 Posts
    • 935 Thanks
    sammy70
    Thanks Katep and Chumpy, I'm going to book a viewing for next weekend, and take it from there. Nothing ventured nothing gained as the saying goes..
    current end date of mortgage= 2037
    mortgage balance start of challenge- 1/12/2016 -£245,695 25/11/16
    overpayments for 2016=
    total overpayments =
    emergency fund = £200
    balance of mortgage currently = £245,695 25/11/16
    • sammy70
    • By sammy70 22nd Jul 16, 8:14 PM
    • 366 Posts
    • 935 Thanks
    sammy70
    We viewed the property on Thursday- we loved the house, the land and outbuildings were perfect- BUT- the neighbours to one side had access through the yard and land- right where we would be spending the majority of our out door time, and where any future small business would operate. Though the current neighbours use it very infrequently, we were a bit concerned that in the future new neighbours could move in, with small children- large dogs etc, we foresaw loads of potential for trouble, so even though other than this the house and land was perfect, we have decided to walk away from it, a real shame, but as this property was really stretching our budget, the only way it would have worked was if we absolutely loved it and it ticked all the boxes, which with the access issue it doesn't

    Hey-ho, the property hunt goes on

    Pay days next week, and will be good ones, loads of overtime done, and we both get our annual loyalty bonus this month

    I will do our July budget and savings next week

    Happy weekend everyone
    current end date of mortgage= 2037
    mortgage balance start of challenge- 1/12/2016 -£245,695 25/11/16
    overpayments for 2016=
    total overpayments =
    emergency fund = £200
    balance of mortgage currently = £245,695 25/11/16
    • sammy70
    • By sammy70 29th Jul 16, 9:29 PM
    • 366 Posts
    • 935 Thanks
    sammy70
    a great saving month this payday- £2700 now a new total of £20,700 in premium bonds

    Still not found our new country nest, but we are trawling property sites daily

    We are spending the weekend packing boxes to store at my daughters house until we have our new home

    Lovely holiday day today with hubby, lay in, then walkies with naughty mutt
    current end date of mortgage= 2037
    mortgage balance start of challenge- 1/12/2016 -£245,695 25/11/16
    overpayments for 2016=
    total overpayments =
    emergency fund = £200
    balance of mortgage currently = £245,695 25/11/16
    • sammy70
    • By sammy70 30th Jul 16, 10:57 AM
    • 366 Posts
    • 935 Thanks
    sammy70
    Lovely sunny morning here, just pegged a load of washing out

    I have accumulated £170 from tuck shop sales, money from mother in law for items we bought on her behalf using our paypal account, etc, so to avoid temptation to spend it, I'm going to nip and deposit it in the bank this morning, and buy some much needed work trousers

    Looking forward to a lovely walk with hubby and mutt this afternoon, and chill out time tonite snuggling up , though I must admit, all our time together seems to be dominated my house talk! not very romantic I'm afraid.
    current end date of mortgage= 2037
    mortgage balance start of challenge- 1/12/2016 -£245,695 25/11/16
    overpayments for 2016=
    total overpayments =
    emergency fund = £200
    balance of mortgage currently = £245,695 25/11/16
    • sammy70
    • By sammy70 1st Aug 16, 11:17 AM
    • 366 Posts
    • 935 Thanks
    sammy70
    Holiday day today. We are packing up and moving all storable items, and taking them to our daughters home to store in her spare bedroom until we get our new house

    We are taking a car load at a time as we can pass her house when we are driving out daily for our afternoon country outing with our doggy

    We are only taking personal items, clothes, documents etc needed for mortgage to our sons house, he has been a god send helping us out by letting us stay with him while we continue our forever house search

    I'm counting down now to our completion date on the 26th of this month (all being well), it will be like a chapter closing on our life, and a new one beginning!

    I'm going to meal plan, to try and make sure we run the freezers down completely in time for our move, and save a s much money on grocery shopping as possible in the process
    Last edited by sammy70; 01-08-2016 at 11:18 AM. Reason: spelling
    current end date of mortgage= 2037
    mortgage balance start of challenge- 1/12/2016 -£245,695 25/11/16
    overpayments for 2016=
    total overpayments =
    emergency fund = £200
    balance of mortgage currently = £245,695 25/11/16
    • EatingTheElephant
    • By EatingTheElephant 7th Aug 16, 8:01 AM
    • 605 Posts
    • 2,923 Thanks
    EatingTheElephant
    It's fantastic that your children are helping out so you can find your forever home. Not long until completion date now!
    • chumpy45
    • By chumpy45 8th Aug 16, 8:38 PM
    • 222 Posts
    • 858 Thanks
    chumpy45
    ^^ as above, lovely that family are helping out and the cost of storage etc can be avoided. I am sure you will find the forever home soon
    Starting Mortgage 01.08.08 £171,209.24. Mortgage as at 01.09.15 - £54,780.04; 01.11.15 £49,577.04;01.03.16 £45,799.32; 01.08.16 £42,418.93; 01.10.16 £40,119.52 MFW Target date Sept 2017;
    • sammy70
    • By sammy70 11th Aug 16, 7:36 PM
    • 366 Posts
    • 935 Thanks
    sammy70
    Thanks for the good wishes you two!

    I'm counting down now to completion date. we have packed and taken most of our boxes to our daughters, a few more to take to sons house to store in his garage.

    I am gradually changing addresses on everything, pension, healthcare, banks etc, I have a long list! but we are still going to have post redirected too just in case something slips through

    We have an appointment with a local all of market mortgage broker next Wednesday, to see what they can do for us, we like the idea of a local person, where we can discuss face to face our requirements
    current end date of mortgage= 2037
    mortgage balance start of challenge- 1/12/2016 -£245,695 25/11/16
    overpayments for 2016=
    total overpayments =
    emergency fund = £200
    balance of mortgage currently = £245,695 25/11/16
    • chumpy45
    • By chumpy45 11th Aug 16, 9:48 PM
    • 222 Posts
    • 858 Thanks
    chumpy45
    I agree on the local services choice. We had to buy a new dishwasher recently and chose a local company rather than a faceless internet giant. Lovely people, great service, competitive price and the assurance that you can just pop in and let them know if anything goes wrong. Will certainly be using them again for any other domestic appliances in the future.
    Starting Mortgage 01.08.08 £171,209.24. Mortgage as at 01.09.15 - £54,780.04; 01.11.15 £49,577.04;01.03.16 £45,799.32; 01.08.16 £42,418.93; 01.10.16 £40,119.52 MFW Target date Sept 2017;
    • sammy70
    • By sammy70 25th Aug 16, 8:04 AM
    • 366 Posts
    • 935 Thanks
    sammy70
    The broker is looking at our application , as we haven't found a property yet its just looking at potential lenders

    Well, the big day tomorrow, contracts exchanged yesterday, completes tomorrow

    I will do full savings/budget and plan for next few months while we are house hunting tomorrow night, when we have the sale proceeds in the bank and paydays
    current end date of mortgage= 2037
    mortgage balance start of challenge- 1/12/2016 -£245,695 25/11/16
    overpayments for 2016=
    total overpayments =
    emergency fund = £200
    balance of mortgage currently = £245,695 25/11/16
    • sammy70
    • By sammy70 26th Aug 16, 9:44 AM
    • 366 Posts
    • 935 Thanks
    sammy70
    completion day
    I'm sat here waiting on call from solicitor to confirm the sale has completed

    Pay day also today, already juggled the cash, bills paid, and £2,600 worth of premium bonds bought, so new total is £23,300

    When the funds hit the account, we plan on topping bonds up to the max £50,000, these are in my name, and £50,000 worth we are buying in hubbys name, these will then sit hopefully winning us lots, until we find our house, and remaining funds will go into savings account .

    It may seem to some that we have plenty saved now, but as we are in our 40s, so max term 20 years for the mortgage, we are putting down as much as we can to make the payments manageable
    Also property with the acre or so we require aint cheap! also stamp duty will be very expensive we are predicting, and this also will need to be saved

    I'm opening the new house savings account now while I wait to hear fron the solicitor, heres to out with the old house, and finding a new one!
    current end date of mortgage= 2037
    mortgage balance start of challenge- 1/12/2016 -£245,695 25/11/16
    overpayments for 2016=
    total overpayments =
    emergency fund = £200
    balance of mortgage currently = £245,695 25/11/16
    • sammy70
    • By sammy70 24th Sep 16, 1:11 PM
    • 366 Posts
    • 935 Thanks
    sammy70
    still searching
    We are still searching for our new home

    Property with land is sparse at the moment, we did find what we thought was our perfect home, a stone detached cottage, 3 acres, at the side of the pennine trail, but that all went to the wayside when when we found a footpath ran straight through, right alongside the house. We don't think this would be for us, as the property was secluded, and we were worried about security.

    Don't know if we are being too cautious, but we had worries of lack of privacy/loose dogs in our chickens/ late night walkers when I'm alone and hubby at work.. may be us being daft, the property is still on the market, and the agents took on board what we said, and are making enquiries regarding re-routing the path, but we aren't hopeful this would be possible..

    On the money front, we currently have saved- £50,000 p.bonds, and £63,500 in savings account, a total new house fund of £113,500 .

    When we looked at the secluded cottage, before we discovered the footpath, we were set to make an offer, our broker did Halifax application, which was accepted
    The application was put on hold by the broker when we decided not to take it further on discovering the proximity to the house of the path, but I suppose it shows when we are ready, the deal is ther for the minute, unless anything changes
    current end date of mortgage= 2037
    mortgage balance start of challenge- 1/12/2016 -£245,695 25/11/16
    overpayments for 2016=
    total overpayments =
    emergency fund = £200
    balance of mortgage currently = £245,695 25/11/16
    • sammy70
    • By sammy70 30th Sep 16, 12:02 PM
    • 366 Posts
    • 935 Thanks
    sammy70
    offer accepted!!
    Well, weve done it!

    This morning we had an offer accepted on our forever home

    The emotional rollercoaster of house buying begins, and I cant believe I'm saying this, but I'm excited about re-starting my mortgage free journey again

    Our new mortgage wil be approx. £245,650, we are putting deposit of £105,000.

    The property we bought is the cottage we viewed last month and rejected after panicking about the footpath.

    We revisited, checked everyting out, loved the house even more, and put offer in straightaway yesterday.. we spent till 11am this morning, when after further negotiation, our offer of £350,000 was accepted

    We are sooooooooooo excited!!
    current end date of mortgage= 2037
    mortgage balance start of challenge- 1/12/2016 -£245,695 25/11/16
    overpayments for 2016=
    total overpayments =
    emergency fund = £200
    balance of mortgage currently = £245,695 25/11/16
    • pink poppy
    • By pink poppy 2nd Oct 16, 7:49 PM
    • 917 Posts
    • 5,474 Thanks
    pink poppy
    Congratulations!! So pleased for you
    MFW...
    Caledonia dreamin' ...
    Making it happen...
    • chumpy45
    • By chumpy45 2nd Oct 16, 8:03 PM
    • 222 Posts
    • 858 Thanks
    chumpy45
    That's fantastic news, you must be sooooo excited. Let the new adventure begin
    Starting Mortgage 01.08.08 £171,209.24. Mortgage as at 01.09.15 - £54,780.04; 01.11.15 £49,577.04;01.03.16 £45,799.32; 01.08.16 £42,418.93; 01.10.16 £40,119.52 MFW Target date Sept 2017;
    • sammy70
    • By sammy70 3rd Oct 16, 8:36 PM
    • 366 Posts
    • 935 Thanks
    sammy70
    solicitor sorted, valuation fee paid- just awaiting date that this is taking place- hopefully this week!

    Waiting isn't my strong point, I so want this house purchase to go through without too much stress, but then doesn't everyone !
    current end date of mortgage= 2037
    mortgage balance start of challenge- 1/12/2016 -£245,695 25/11/16
    overpayments for 2016=
    total overpayments =
    emergency fund = £200
    balance of mortgage currently = £245,695 25/11/16
    • sammy70
    • By sammy70 4th Oct 16, 6:57 PM
    • 366 Posts
    • 935 Thanks
    sammy70
    the valuation/survey is booked for Monday, a whole weekend to get through waiting !

    Im planning a super frugal month, but disaster struck sunday, our much loved smelly spaniel had to be rushed to the vets, she was so weak and ill, turns out she had an infectction in her uterus, had op yesterday after 24 hours on a drip to remove it.
    Thankfully the op was a success, she came home today, no insurance, so bye bye £1200 never mind, that was savings for a new cooker, washer, fridge etc, we will just have to have to juggle the budget for the next month or two..


    Looks like frugal October will go on into November.. at least she is ok
    current end date of mortgage= 2037
    mortgage balance start of challenge- 1/12/2016 -£245,695 25/11/16
    overpayments for 2016=
    total overpayments =
    emergency fund = £200
    balance of mortgage currently = £245,695 25/11/16
    • sammy70
    • By sammy70 10th Oct 16, 7:32 PM
    • 366 Posts
    • 935 Thanks
    sammy70
    ive been awake since 3am this morning, awoke torturing myself about the new house, we want it soooo much, and I'm scared something will go wrong, and we would lose it.. its the perfect home for us, please let it go thorough smoothly!
    The valuation was booked for today, our broker is chasing Halifax Wednesday, I just have to get statement for proof of deposit, which should arrive tomorrow, then all the paperwork for the solicitor is ready for our broker to post recorded delivery, hopefully tomorrow, then they can get the ball rolling their end
    current end date of mortgage= 2037
    mortgage balance start of challenge- 1/12/2016 -£245,695 25/11/16
    overpayments for 2016=
    total overpayments =
    emergency fund = £200
    balance of mortgage currently = £245,695 25/11/16
    • A Frayed Knot
    • By A Frayed Knot 10th Oct 16, 9:06 PM
    • 1,742 Posts
    • 7,993 Thanks
    A Frayed Knot
    Haven't read your diary, just your last post promise to read more once I've posted. I can only say I'm sure everything will go smoothly but maybe not quickly enough for you. Just make sure you have all your paperwork up to date and keep chasing everyone on. I was on the phone to them every day/second day to make sure they had everything required/needed and checking on progress. Keep in touch it's the only way.

    Better to be informed than loose the house, and the best of Luck.
    Always have 00.00 at the end of your mortgage balance and someday it will all be 0's
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    o/p 2014/£4000, 2015/£6294.69 MFW2016 #27 £3101.03/£3000
    £1000/£1000 51.44/33.29=84.73
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