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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 21
    • sammy70
    • By sammy70 14th Oct 16, 7:29 PM
    • 366 Posts
    • 935 Thanks
    sammy70
    What a week!
    Well its been an emotional rollercoaster of a week for us!

    Valuation completed, slight complication on valuation, as surveyor seemed to have completely disregarded the land, and massive workshop etc in his valuation, leading to him down valuing the property

    Anyway, to cut a long, stressful story short, we have got everything sorted, and our mortgage offer landed on our doorstep today, the solicitor paperwork sorted and posted recorded delivery yesterday, so its all systems go

    Just a waiting game with solicitors now..
    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 15th Oct 16, 6:32 AM
    • 608 Posts
    • 2,930 Thanks
    EatingTheElephant
    Great news, that's a big hurdle over

    Hope you get a date soon.
    • sammy70
    • By sammy70 15th Oct 16, 10:18 AM
    • 366 Posts
    • 935 Thanks
    sammy70
    Thanks Eating the elephant, we are so relieved the mortgage is sorted, I'm not the worlds most patient waiter, so next few weeks are going to drive me mad waiting to get my hands on those keys

    My head is spinning with plans for the land/house. I have saved already for my much anticipated horse, and enough money for building materials for his/her stable and small covered area for staw/hay store . Hubby is going to build this (hes good at diy thankfully), so that is one project, among many!

    We aren't going to be bored for the next few years bringing all our plans to reality, I'm soooooooo excited!

    Also, I haven't even signed the contract yet, but couldn't resist working out different scenarios for overpayments to clear the mortgage last night, I'm probably deranged, but I'm relishing the challenge of getting the mortgage cleared , even though that will be a marathon, not a sprint
    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
    • try harder
    • By try harder 15th Oct 16, 11:22 AM
    • 180 Posts
    • 460 Thanks
    try harder
    Great diary and brilliant news on the new house ,sounds so exciting ,looking forward to hearing more.Glad your little doggy is ok too.
    • sammy70
    • By sammy70 20th Oct 16, 8:27 PM
    • 366 Posts
    • 935 Thanks
    sammy70
    sale is plodding through the processes, just awaiting searches/queries on searches etc.. it is 3 weeks tomorrow since our offer was accepted, and the process started, we are hoping for a speedy completion
    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 31st Oct 16, 8:19 PM
    • 366 Posts
    • 935 Thanks
    sammy70
    contracts signed, just waiting on answers to my solicitors queries, which apparently are on the way, then we can set a completion date I'm really hoping we can do that this week, I want those keys!

    I'm hoping for 18th November to exchange/complete,, fingers crossed!
    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
    • Pearla*Merle
    • By Pearla*Merle 31st Oct 16, 8:37 PM
    • 1,518 Posts
    • 8,794 Thanks
    Pearla*Merle
    Good luck, sammy! Exciting times!
    a penny picker upper. every penny's a prisoner!
    £26.65 til OnePoll payout! Round six! | Save £2950/£15,000
    Normality is a paved road; it's comfortable to walk, but no flowers grow on it.
    Whatever you're meant to do, do it now. The conditions are always impossible.
    The only thing you absolutely have to know, is the location of the library.
    • sammy70
    • By sammy70 1st Nov 16, 7:55 PM
    • 366 Posts
    • 935 Thanks
    sammy70
    Thanks Pearla!

    Solicitor has received all queries, she is reviewing them, fingers crossed tomorrow will be good news on a very soon completion date

    We are going to the house Saturday so we can be shown how to light the multifuel burner, I'm soo excited!

    I must admit though, I'm exhausted, fed up of waiting and sorting paperwork, I WANT TO MOVVVVVVVVVEEEEEEEEE!!
    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 9th Nov 16, 7:58 PM
    • 366 Posts
    • 935 Thanks
    sammy70
    Still awaiting completion date

    Solicitor is doing final review of file today, if all queries etc. sorted, we could have exchange of contracts in next week

    We discussed with vendors, and have both agreed on 28th November to complete


    Fingers crossed now that everything goes smoothly..

    We have bought a few items of furniture, and tools etc from the sellers, bargains, and a good start as we are starting from scratch, they have kindly agreed to leave quite a lot, washer, cooker, various items of furniture too
    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 12th Nov 16, 11:19 AM
    • 366 Posts
    • 935 Thanks
    sammy70
    No date to exchange yet

    Solicitor raised couple more queries to be resolved, hopefully, by mid next week. We are so fed ap and stressed thinking something will go wrong, we are both worriers

    I'm driving myself nuts wanting to make plans for the house, including plans for targets for overpayments etc, its so frustrating waiting!


    In the meantime to keep myself focussed, I'm concentrating on meal plans/cutting grocery costs, that's all really I can do on the money saving front at the moment until we have exchanged contracts. Once the house is signed and sealed, I can get on with sorting best providers for landline, broadband etc

    Fingers crossed by next Friday we will have everything in place, and will exchange contracts
    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 12th Nov 16, 9:08 PM
    • 222 Posts
    • 858 Thanks
    chumpy45
    Its such a long drawn-out process isn't it - I feel your frustration. Hope your completion date comes through very soon. Sooooooo exciting ��
    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 Nov 16, 6:04 PM
    • 366 Posts
    • 935 Thanks
    sammy70
    After the most stressful 6 days of our recent life, we finally are awaiting on the last thing to be sorted (land registry update), and are on track to complete 28th November

    We haven't exchanged yet, but we have paid the 10% deposit to the solicitor, so as soon as the last query sorted, we can exchange, hopefully in next few days
    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 18th Nov 16, 7:39 PM
    • 366 Posts
    • 935 Thanks
    sammy70
    We have our forever house!!!!
    Yey! as of this afternoon, we have our our forever house in the lovely countryside
    We exchanged contracts today, complete Monday 28th November

    All the last few years of repaying debts, paying off the mortgage on our previous home, and saving have all come together, we have worked hard, and here we are! we are so excited and full of plans

    I cant wait to get my hands on those keys!!!
    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 18th Nov 16, 9:31 PM
    • 608 Posts
    • 2,930 Thanks
    EatingTheElephant
    Yaaaaay congratulations
    • sammy70
    • By sammy70 19th Nov 16, 1:30 PM
    • 366 Posts
    • 935 Thanks
    sammy70
    I cashed in £8.40 from quidco, when that hits our account, Its going towards our first mortgage overpayment
    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 21st Nov 16, 8:09 PM
    • 366 Posts
    • 935 Thanks
    sammy70
    Getting organised
    Today I organised electricity and land line and broadband for our new home

    Used quidco for the landline. £70 cashback, also £75 cash card offer from bt, not sure when that arrives, but will come in handy
    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 22nd Nov 16, 7:23 PM
    • 917 Posts
    • 5,474 Thanks
    pink poppy
    Fab news ~ congratulations!!
    MFW...
    Caledonia dreamin' ...
    Making it happen...
    • sammy70
    • By sammy70 26th Nov 16, 10:50 AM
    • 366 Posts
    • 935 Thanks
    sammy70
    not long now!
    We are excitedly planning our move, 2 more sleeps

    Our little smelly spaniel is off the the kennels this afternoon for a mini break until Tuesday, so she doesn't get under our feet during the move, and get stressed with all the toing and froing .

    Tommorow we collect the van we are hiring, and sunday we are collecting a few item of furniture from my grans house that we are having

    We haven't bought anything new, I intend furnishing the house with beautiful preloved items that match the rural setting, I love interesting things with a bit of history, and most of the time, due to our throwaway society, you can get bargains too

    We will of course get new carpets etc , we will look at whats there, and replace as required, and as the budget allows. We are just grateful to have got our dream home, the trappings and d!cor etc will be an ongoing long term project .

    Our initial plan is to save for all projects in a list of importance, and do them as we have the cash saved up.
    I really want to avoid borrowing more, and I intend to work on reducing the mortgage with regular overpayments, again as the budget allows.

    I'm going to work out a new budget once we know all the correct outgoings, and then we will set ammounts for all short and long term projects/savings, I love a good budget challenge as I'm sure everyone can tell by now

    I will post after the move , when our new broadband is set up, and all our worldly goods moved to our lovely new home
    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 Nov 16, 12:58 PM
    • 366 Posts
    • 935 Thanks
    sammy70
    our challenge has officially begun!
    Just checked online banking, and our new mortgage is showing as of 25th November, we officially have a mortgage of £245,695

    It doesn't show amount/date of the first payment yet, I was tempted to make an overpayment , cant wait to get stuck in to our new challenge, I know this time its going to be a marathon, not a sprint, but every penny overpaid counts, ive learned that from past experience
    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 Nov 16, 10:29 PM
    • 366 Posts
    • 935 Thanks
    sammy70
    were in!
    We have moved in to our lovely countryside home. We actually moved Monday, Monday and Tuesday were spent bringing our worldy goods..

    Today ive made a start on cleaning/organising, but like the mortgage, its definitely going to be a marathon not a sprint, I don't think the previous elderly owners hadnt spent a great deal of time here in the last few years, preferring to spend most of their time at the seaside they have now moved to, hence lot of grubbiness everywhere.. I will get on top of it in the next few weeks..

    our first mortgage payment goes out late (we requested 1st of month) on the 12th this month.

    We have broadband and land line sorted, need to get lots of address changes sorted in the next week or so, driving license etc.

    I feel a bit weird at the moment, its strange, new rooms etc to get used to. I'm sure in a week or so I will feel more relaxed and settled , at least we wont be moving again!

    Off to check bank account to organise payments due early December
    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
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