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  • FIRST POST
    • earthgirl
    • By earthgirl 27th Nov 13, 2:36 PM
    • 2,452Posts
    • 19,746Thanks
    earthgirl
    Like a Bat out of Hell - EG takes a chance.
    • #1
    • 27th Nov 13, 2:36 PM
    Like a Bat out of Hell - EG takes a chance. 27th Nov 13 at 2:36 PM
    My new diary is so named as the first morning we woke up in our new house after running out on our old life, we all ended up dancing around the living room playing air guitar to this tune. DH and I had a bit of a moment as reality set in!

    We decided fairly quickly to move on from our old secure little life, with reasonably secure income and no mortgage, to take a chance on our dream house by the sea. With a bit of stress and 'homelessness' in the middle we now the owners of a lovely family home on the west coast of Scotland. We had savings of about £250,000 thanks to mse and this board in particular, we have spent about £20,000 on the move itself, and now have to pay off £147,500 for our new mortgage.

    Only problem is we have little income as I gave up my job and dh is remodelling his business, but we have lots of positivity and determination!

    I'd like to set a target of paying it all off in ten years. I'd like to pay off £10,000 in the next 12 months.

    Off we go....

    old diary here http://forums.moneysavingexpert.com/showthread.php?t=3978475
    15/5/12 Paid off Mortgage 1 (£220k) Dec 13 - £116,508 Bought Dream House Dec 14 - £94, 402 (£22,106 offset in 2014) Jan 16 - £67, 852 (£26,550 offset in 2015) Dec 16 - £33,529 ( £34,323offset in 2016)
    Jan 17 - £39, 773 (Re-estimation of endowments )
    June 17 £32,053 Sept 17 £22,619
    Kids savings 13,578/36k
Page 1
  • BlueMoo
    • #2
    • 27th Nov 13, 2:43 PM
    • #2
    • 27th Nov 13, 2:43 PM
    Congratulations - Sounds like a wonderful home.
    M3 Dec2015 #160 Target £150,000 (BU £155000)
    • SmlSave
    • By SmlSave 27th Nov 13, 3:13 PM
    • 4,700 Posts
    • 16,360 Thanks
    SmlSave
    • #3
    • 27th Nov 13, 3:13 PM
    • #3
    • 27th Nov 13, 3:13 PM
    I'd like to set a target of paying it all off in ten years. I'd like to pay off £10,000 in the next 12 months.
    You can do it EG!
    Boy Smllet born 23/06/2011 and Girl Smllet born 01/03/2014

    5 year challenge to pay off £20,000
    £350 per month challenge
    • newgirly
    • By newgirly 27th Nov 13, 3:40 PM
    • 5,805 Posts
    • 39,706 Thanks
    newgirly
    • #4
    • 27th Nov 13, 3:40 PM
    • #4
    • 27th Nov 13, 3:40 PM
    Congratulations on your new home earthgirl and best wishes with the next mfw journey
    MFW 21
    Target for 2017 £38,545 / £14,264 paid so far

    Mortgage £47,330 4 years 8 months left. Total owed £63,993 planning to clear in 24 months
    WW target - 29.5 lb start date 11/5/17 so far 16.5lb lost.
    • summerday
    • By summerday 27th Nov 13, 5:28 PM
    • 1,321 Posts
    • 2,165 Thanks
    summerday
    • #5
    • 27th Nov 13, 5:28 PM
    • #5
    • 27th Nov 13, 5:28 PM
    Wow! Lots of change!

    Good on you though for following your dream, home by the sea sounds amazing. Don't doubt that you'll soon be paying down the mortgage while making the most of every minute with your family in your new life. Xx
    Yesterday is today's memories, tomorrow is today's dreams
    • tootoo
    • By tootoo 28th Nov 13, 9:12 AM
    • 670 Posts
    • 3,020 Thanks
    tootoo
    • #6
    • 28th Nov 13, 9:12 AM
    • #6
    • 28th Nov 13, 9:12 AM
    a new adventure!!
    MFW.....Apr 33 Aim - Dec 26
    • Beckyy
    • By Beckyy 28th Nov 13, 11:07 AM
    • 2,736 Posts
    • 4,148 Thanks
    Beckyy
    • #7
    • 28th Nov 13, 11:07 AM
    • #7
    • 28th Nov 13, 11:07 AM
    Enjoy your new adventure and congratulations on the new house!
    • Mipmop
    • By Mipmop 28th Nov 13, 11:16 AM
    • 40 Posts
    • 155 Thanks
    Mipmop
    • #8
    • 28th Nov 13, 11:16 AM
    • #8
    • 28th Nov 13, 11:16 AM
    Congratulations on the move. I wanted to drop in because I have been a long time fan of your diaries - everytime I've found the going tough I've always returned to your experiences for that little bit of inspiration. Like you we took the opportunity in Apr this year to go for the forever home from the comfort of a house that would have been mortgage free and I'm glad we did - I still walk around our house thinking how lucky we are to live there! We took out a mortgage of 160k to move and we now stand at 148k as of today so very similar figures to yours so even more reason for me to keep an eye on this shiny new diary!

    I'm hoping to pay ours off in 8 years - but we have the added advantage of an offset mortgage.

    Best of luck from here on in!
  • 115K
    • #9
    • 28th Nov 13, 1:56 PM
    • #9
    • 28th Nov 13, 1:56 PM
    We decided fairly quickly to move on from our old secure little life, with reasonably secure income and no mortgage, to take a chance on our dream house by the sea. With a bit of stress and 'homelessness' in the middle we now the owners of a lovely family home on the west coast of Scotland. We had savings of about £250,000 thanks to mse and this board in particular, we have spent about £20,000 on the move itself, and now have to pay off £147,500 for our new mortgage.
    Originally posted by earthgirl
    Good luck on your new life.
    HOUSE MOVE FUND £16,000/ £19,000
    DECLUTTERING 2015 439 ITEMS
    “Don’t let your happiness depend on something you may lose.”
    • kirstypark
    • By kirstypark 28th Nov 13, 4:19 PM
    • 768 Posts
    • 3,528 Thanks
    kirstypark
    happy housewarming - we did the same thing earlier and moved to the seaside from west lothian - although we are still paying for it, every day a walk on the beach makes us think how lucky we are.
    mortgage 1 33,000. paid nov 2012 . mortgage 2 87,000 due 51,686.76 at july 2013, but then:new home and remortgage ... £101065.43 now 74k
    • MoneyQueen
    • By MoneyQueen 28th Nov 13, 6:00 PM
    • 909 Posts
    • 4,204 Thanks
    MoneyQueen
    Congratulations EG. Where are you on west coast(if you don't mind me asking'. We are in Glasgow so not exactly on the coast but very near.

    MQ
    • Alchemilla
    • By Alchemilla 29th Nov 13, 7:20 AM
    • 5,041 Posts
    • 39,592 Thanks
    Alchemilla
    So long as youre not gone when the morning comes!
    I was thinking yesterday what an eternally great album that was. No fillers.
    Good luck!
    Eta OMG. the views! The garden!
    Last edited by Alchemilla; 29-11-2013 at 7:31 AM.
    Turns out I wasn't allowed to link to my blog.

    Please PM me if you would like to read it.
    • Courgette
    • By Courgette 29th Nov 13, 8:22 PM
    • 1,710 Posts
    • 17,713 Thanks
    Courgette
    Hooray - new diary!

    Ten years sounds like a plan, it's the time frame we've got in mind too

    Looking forward to your updates!
    A reminder to myself: Persistence Pays Off
    Mortgage 1: £95,000 £78,900 at 3.1%
    Mortgage 2 (BTL): £83, 489.15 at 2.99% (I.O.)
    Savings (S&S ISA): £3000 Plus 6 months emergency savings earning 3%
    • earthgirl
    • By earthgirl 4th Dec 13, 7:13 PM
    • 2,452 Posts
    • 19,746 Thanks
    earthgirl
    Don't loose your grip...
    Don't loose your grip on the dreams of the past, you must fight just to keep them alive....

    Song title anyone? (Hint: very very very cheesy 80s I think)

    Anyway sorry for the musical references here and there, dh has just bought a new music system, and we are very much enjoying it!

    That is part of the problem though, we are enjoying getting stuff for the new house, and need to STOP the spending - which means reining dh in.

    We have spent about £3000 on new furniture and carpets. Some have been bargain, some not. I hate spending this much money, but most of the purchases were inevitable, we would have had to at some point. Now it is all done, and I can go back to spending as little as possible.

    Its quite serious really - hence the 'you must fight just to keep them alive..', If we don't keep up our mortgage payments, and don't overpay, we WILL loose our lovely dream home and dream life - a life we have dreamed of for ourselves and the children.

    Feeling a bit worried now!

    On the upside - I have started work on my new tutoring website and I have worked solidly on ohs business. Need to get him more on board with this too and crack the whip!

    Waiting for the mortage company to get the accounts live so I can overpay ASAP!
    15/5/12 Paid off Mortgage 1 (£220k) Dec 13 - £116,508 Bought Dream House Dec 14 - £94, 402 (£22,106 offset in 2014) Jan 16 - £67, 852 (£26,550 offset in 2015) Dec 16 - £33,529 ( £34,323offset in 2016)
    Jan 17 - £39, 773 (Re-estimation of endowments )
    June 17 £32,053 Sept 17 £22,619
    Kids savings 13,578/36k
  • Habibiboo

    Just to say hi & all the best, both for your new home (and especially your first Christmas there) and for the new challenge! You've done fabulously before, I'm sure you will again, especially as those brisk walks by the seaside do wonders for motivation and empowerment! All the best!
    Stash busting 2014 45 / 60 (balls of yarn)!
    2014 Sealed Pot #2136 ?/£500
    House: Decluttering 322 / 365
    Original mortgage £149,000£117,750;£112,500 MFW 2014#69 GOAL 1: £109 K April GOAL 2: £103 K by Sept GOAL 3: < £100k by end of 2014 MF goal: Nov 2020 - 4 years early
    • earthgirl
    • By earthgirl 5th Dec 13, 5:00 PM
    • 2,452 Posts
    • 19,746 Thanks
    earthgirl
    Thanks for the encouragement - I need it today!

    Tried to talk to dh about putting the brakes on our spending and it didn't go well. He just doesn't understand my impatience to feel in control of the mortgage, and how I am worried about our spending. Anyway, not a pleasant exchange of ideas, but I think I got the point across.

    Very sleepless night here - storms battering our poor house. We have lost our fence, but that seems to be it and I think the worst is over.

    Is this good news? I have an interview next Wednesday for a community support worker post. It is half the salary I am used to, and DH is sceptical as to whether I can actually make any money. 20 hours per week at £14,500 prorata, minus the cost of childcare and travelling to the job (about 15 miles away). It would only be worth it if the hours meant DH could look after the boys (or parents in law), but sometimes its easier to get a job when you have one!
    15/5/12 Paid off Mortgage 1 (£220k) Dec 13 - £116,508 Bought Dream House Dec 14 - £94, 402 (£22,106 offset in 2014) Jan 16 - £67, 852 (£26,550 offset in 2015) Dec 16 - £33,529 ( £34,323offset in 2016)
    Jan 17 - £39, 773 (Re-estimation of endowments )
    June 17 £32,053 Sept 17 £22,619
    Kids savings 13,578/36k
    • Alchemilla
    • By Alchemilla 5th Dec 13, 6:41 PM
    • 5,041 Posts
    • 39,592 Thanks
    Alchemilla
    It sounds a bit un ideal...but good interview practice.
    Turns out I wasn't allowed to link to my blog.

    Please PM me if you would like to read it.
    • earthgirl
    • By earthgirl 6th Dec 13, 3:55 PM
    • 2,452 Posts
    • 19,746 Thanks
    earthgirl
    Yes its not ideal, and I think I will cancel my interview as I can make more money working for ohs business. We have set some targets of me increasing leads by 10% in comparison to the number of leads in the same month last year (business is quite seasonal.) If he has to look after the boys he would miss phone calls and it could be worth hundreds of pounds to the business. Its not worth me going out to work for minimum wage just yet. We also moved here as its our dream to bring the children up in a beautiful location by the coast. There would have been no point doing that if I don't see the children and they don't see us or the coast as they are in daycare!!

    So my mortgage accounts are live and I have overpaid £7000 that we had as a contingency fund for moving. I have calculated that we have a mortgage of £140,000 (after the endowment of £42,500 has been taken off as this is currently on track), and we have savings of £22,500.

    Therefore we need to overpay £118,108. I just called up the mortgage company as I thought they had taken too much interest, but infact they haven't and even with most of the mortgage at 2.5% and some at 2.7%, we are still paying daily interest of £15. Owch!

    So we must pay this off by being very canny with our money and maximising our income.
    15/5/12 Paid off Mortgage 1 (£220k) Dec 13 - £116,508 Bought Dream House Dec 14 - £94, 402 (£22,106 offset in 2014) Jan 16 - £67, 852 (£26,550 offset in 2015) Dec 16 - £33,529 ( £34,323offset in 2016)
    Jan 17 - £39, 773 (Re-estimation of endowments )
    June 17 £32,053 Sept 17 £22,619
    Kids savings 13,578/36k
    • Alchemilla
    • By Alchemilla 6th Dec 13, 4:31 PM
    • 5,041 Posts
    • 39,592 Thanks
    Alchemilla
    if anyone can do it, you can!
    Turns out I wasn't allowed to link to my blog.

    Please PM me if you would like to read it.
    • Daisychain1
    • By Daisychain1 7th Dec 13, 9:31 PM
    • 212 Posts
    • 1,626 Thanks
    Daisychain1
    Hi Earthgirl

    A long time lurker of your previous diaries here. Congrats on the new house and a lovely new setting to bring your babes up in.

    Wishing you all the best on your next mortgage quest.

    I'm off to subscribe

    DC1
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