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  • FIRST POST
    • katep23
    • By katep23 29th May 14, 7:45 PM
    • 1,147Posts
    • 8,742Thanks
    katep23
    Forever Home Fund
    • #1
    • 29th May 14, 7:45 PM
    Forever Home Fund 29th May 14 at 7:45 PM
    I have been lurking here for a few weeks and decided it was time to stick my head above the parapet

    I'm a bit of a fraud TBH, I don't even have a mortgage, but OH and I are saving to buy a house so it's kinda the same thing - will you let me join in?

    OH and I are both mid (ahem, okay getting less mid by the day) 30s and currently rent a lovely house on a farm with no passing traffic and about a quarter of an acre garden. And there lies the problem... we can't find anything similar in the Thames Valley for a price we can even look at without smelling salts

    So. we're saving and looking but as we don't have a target in mind we can lose out way a bit... that's where the diary comes in. I shall use this as a way of staying on track and keeping a record of where I am, it's good to be accountable.

    I'd love to buy a place but it has to be the right place so we might be in for a long wait.

    Why the forever home now? It's us, 3 cats, 18 ducks, 4 cars, 5 motorbikes, a tankful of tropical fish, a garden full of plants, a 3-bed semi filled to bursting, a garage, two outhouses, a greenhouse and a shed to find a new home for
Page 22
    • katep23
    • By katep23 3rd Sep 16, 8:38 AM
    • 1,147 Posts
    • 8,742 Thanks
    katep23
    December 2014
    Mortgage 346,545.00
    Mortgage free date 2044
    LTV 86.64%

    2nd September 2016
    Mortgage 329,962.60

    Total paid off capital in last month: 733.46
    Total paid off capital 16,632.40

    MOS: 12,084.24

    LTV: 82.49%

    Amount to Mortgage Neutral - 317,878.36

    We're in the 320s - woo hoo

    • chumpy45
    • By chumpy45 4th Sep 16, 8:10 PM
    • 289 Posts
    • 1,199 Thanks
    chumpy45
    Fantastic OPs and progress. to the 320s
    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 40,119.5 01.02.17 36,584.00; 01.04.17 34,694.71 MFW Target date Sept 2017;
    • katep23
    • By katep23 7th Sep 16, 5:16 PM
    • 1,147 Posts
    • 8,742 Thanks
    katep23
    Going to set a mini challenge of making 1,800 additional money over the next year from 1st July. Currently getting about 100 from TCB for OH's hotels but this is not guaranteed if the company gets a corporate rate so will need some work to achieve this. Money will come from cashback and selling stuff.
    Originally posted by katep23
    Currently at 556 / 1,800 but 115 of that was selling something we bought for a little bit more so not sure if I should count that!

    Aiming to list one thing a day on eb@y / FB. It's mostly low value stuff at the moment but it all helps.

    Thanks Chumpy, it was such a milestone to hit the 320s. Currently back in the 330s temporarily though

    Grocery spends are minimal but ended up spending a fortune on flooring, new toilets etc last weekend as we have guests coming to stay in just over a week and we wanted to make the place look better (both loos needed replacing and there is no floor down in utility / downstairs loo/ upstairs bathroom. Result = no working upstairs toilet and still no flooring down

    Also getting our motorbikes into the garage at the end of the week to get them back on the road (in time for autumn / winter ) so that will cost

    So much for the year of austerity!

    To be fair OH is talking about selling his other bike once this one is back on the road so that should pay for the work on both bikes. Mine isn't insured but both his are so overall we should break even.

    • katep23
    • By katep23 10th Sep 16, 8:46 AM
    • 1,147 Posts
    • 8,742 Thanks
    katep23
    OH out for the day and it is persisting down here. Planning on a day of cleaning and decluttering. What will probably happen is I will drink lots of tea and surf MSE

    Went to Aldi as I now work close to one, have really missed being able to shop there and got into the habit of using Ocado so looking forward to saving some money on groceries. Will probably do a monthly Ocado shop, weekly Aldi shop then go to Mr M or Mr S for any other bits.

    Have managed to get 3k discount from roofer so have emailed him to get it booked

    So we need to use 25K of the stooze money rather than 28K. The challenge now is to repay this within 2 years. Ideally I'd like to do it within 1 year but the absolute minimum is 2 years.

    Payment is not due until the job is complete so we have a little longer to save up as I suspect it will be 4 to 6 weeks before the work starts due to the lead time on the slates.

    This month we will break even so unlikely to send anything more to savings. Next month will need to do better

    Cat insurance renewal through for our old lady - over 500 We had decided to self insure anyway and this has confirmed our decision. OH told them he was cancelling because the renewal was "eye watering", not sure I would have been so polite

    • katep23
    • By katep23 12th Sep 16, 6:43 PM
    • 1,147 Posts
    • 8,742 Thanks
    katep23
    Spoken to roofer, he is ordering slate this week and then will have an idea of potential start date. Likely to be end of October.

    Aim for 2nd October is MOS at 12,000. This month is break even only due to expenses last month.

    Aim for 2nd November is MOS at 13,000. We have some materials to buy and a job to do before roof work commences. This would mean using 24,000 of stooze money.

    OH may not be working away so much in the short term so we might lose out on cashback for hotels which has been providing anywhere between 20 and 40 a week.

    Must get back on track with Youg0v, at 39.50 but have lost my motivation.

    • katep23
    • By katep23 14th Sep 16, 4:53 PM
    • 1,147 Posts
    • 8,742 Thanks
    katep23
    Sold a book on Am@zon, will net a humungous 1.99 after fees and postage Nothing selling on eB@y.

    3.27 leftover after bills to last until payday next Friday (plus about 8 in cash). Better increase those NSDs

    Cashback slow going, got about 270 tracked with no sign of pay out. Youg0v on 40.25, just realised I can do the surveys on my phone at lunchtime

    Grocery spends under 130 this month, got visitors this weekend but will feed them from the freezer (not literally )

    • Tropically
    • By Tropically 14th Sep 16, 5:02 PM
    • 101 Posts
    • 276 Thanks
    Tropically
    Youg0v on 40.25, just realised I can do the surveys on my phone at lunchtime
    Originally posted by katep23
    I am really impressed you've managed to almost reach a payout!
    • katep23
    • By katep23 17th Sep 16, 7:50 AM
    • 1,147 Posts
    • 8,742 Thanks
    katep23
    I am really impressed you've managed to almost reach a payout!
    Originally posted by Tropically
    41.50 now, nearly there!

    47.91 payable from TCB, up to 604.31 / 1,800.

    Next month we may actually manage to increase MOS which I wasn't expecting to do.

    Now on a week's leave, weekend with friends here won't be cheap but got all food in already. Lots of DIY to do this week, will probably discover we need lots of bits so expect more expenses

    Hotel booked for New York, not the most inspiring but free cancellation so at least we have something as hotels are getting booked quickly and prices are phenomenal.

    Need to get flights done ASAP. My ones are 40 cheaper than the ones we originally considered. OH's flights will be paid for by company as he is out there for a conference.

    Hoping OH's company will pay for airport parking and I will get the train when I fly out to join him.

    • katep23
    • By katep23 21st Sep 16, 5:04 PM
    • 1,147 Posts
    • 8,742 Thanks
    katep23
    That moment when you realise that "we'll just replace the toilet and sink" actually equates to ripping out the bathroom, re-plastering, tiling, laying new floor and fitting new bathroom suite.

    Yes, that moment...

    • v1ckyt
    • By v1ckyt 22nd Sep 16, 8:37 AM
    • 209 Posts
    • 1,324 Thanks
    v1ckyt
    That moment when you realise that "we'll just replace the toilet and sink" actually equates to ripping out the bathroom, re-plastering, tiling, laying new floor and fitting new bathroom suite.

    Yes, that moment...
    Originally posted by katep23
    It will be lovely when it's done, It will be lovely when it's done, It will be lovely when it's done, It will be lovely when it's done, It will be lovely when it's done,

    Keep saying the mantra to yourself.....
    Owed 12th Oct 2015 73942.43


    Estimated date of freedom, slipped a little now July 2023, still nine years early.
    • chumpy45
    • By chumpy45 24th Sep 16, 10:19 AM
    • 289 Posts
    • 1,199 Thanks
    chumpy45
    I am with you on the bathroom. We have just removed our broken bath panel to discover we are unable to source a replacement unless we have it customer made Now thinking it may actually be cheaper to replace the suite
    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 40,119.5 01.02.17 36,584.00; 01.04.17 34,694.71 MFW Target date Sept 2017;
    • katep23
    • By katep23 4th Oct 16, 8:34 PM
    • 1,147 Posts
    • 8,742 Thanks
    katep23
    It's a nightmare, isn't it?

    Money in 681.68 / 1,800. Due to dry up soon as OH not working away at present so no TCB for hotels. Would rather have him home though!

    • katep23
    • By katep23 4th Oct 16, 8:36 PM
    • 1,147 Posts
    • 8,742 Thanks
    katep23
    December 2014
    Mortgage 346,545.00
    Mortgage free date 2044
    LTV 86.64%

    4th October 2016
    Mortgage 329,285.52

    Total paid off capital in last month: 677.08
    Total paid off capital 17,309.48

    MOS: 10,764.12

    LTV: 82.32%

    Amount to Mortgage Neutral - 318,521.40

    • katep23
    • By katep23 16th Oct 16, 10:20 AM
    • 1,147 Posts
    • 8,742 Thanks
    katep23
    Money in 681.68 / 1,800. Due to dry up soon as OH not working away at present so no TCB for hotels. Would rather have him home though!
    Originally posted by katep23
    837/1,800 money in. 45 from TCB for hotel and 90 cashback on credit card.

    OH back to working away from a week tomorrow - boo to him being away Monday to Thursday but will increase the cashback again

    Almost there on YouG0v, think I'm about 3 short.

    Lost my motivation with Eb@y but listed a couple of things this weekend.

    More of a money spending diary at the moment, in the end we paid someone to plaster the bathroom. He did an amazing job. Cost 120 and was worth every penny in time and stress saved.

    He is booked up until December but said that December is his quiet time so we will be getting him back to do lots of other jobs then. Will just give him a list to work through

    Still not a confirmed date for roof but should be fairly soon, need to order some materials which need one week's notice so will chase up for confirmation this week.

    • katep23
    • By katep23 2nd Nov 16, 6:42 AM
    • 1,147 Posts
    • 8,742 Thanks
    katep23
    December 2014
    Mortgage 346,545.00
    Mortgage free date 2044
    LTV 86.64%

    2nd November 2016
    Mortgage 328,431.13

    Total paid off capital in last month: 854.36
    Total paid off capital 18,163.87

    MOS: 9,605.94

    LTV: 82.11%

    Amount to Mortgage Neutral - 318,825.19

    • katep23
    • By katep23 10th Dec 16, 10:45 AM
    • 1,147 Posts
    • 8,742 Thanks
    katep23
    December 2014
    Mortgage 346,545.00
    Mortgage free date 2044
    LTV 86.64%

    2nd December 2016
    Mortgage 326,609.99

    Total paid off capital in last month: 1,821.17
    Total paid off capital 19,985.01

    MOS: 4,270.48

    LTV: 81.65%

    Amount to Mortgage Neutral - 322,339.51

    • katep23
    • By katep23 4th Jan 17, 7:08 AM
    • 1,147 Posts
    • 8,742 Thanks
    katep23
    December 2014
    Mortgage 346,545.00
    Mortgage free date 2044
    LTV 86.64%

    4th January 2017
    Mortgage 325,878.56

    Total paid off capital in last month: 731.43
    Total paid off capital: 20,716.44

    MOS: 6,183.56

    LTV: 81.47%

    Amount to Mortgage Neutral - 319,615.00

    • katep23
    • By katep23 4th Jan 17, 7:23 AM
    • 1,147 Posts
    • 8,742 Thanks
    katep23
    So we're in the mid 320s entering 2017

    2 years in we have paid 9,000 more off the capital than we would have done with standard payments.

    This year OPs will be limited to offset money reducing the interest only.

    We are currently having our roof replaced, all the wood cladding and the guttering which is very expensive; we have most of the money but some of the 0% stooze money will be used to cover the shortfall so we will be in debt until we pay that off.

    We have already discovered that the dormer frames are rotten so they also need to be replaced. I'm sure there will be other things we uncover as we go on.

    We are also getting married this year so have that to pay for, although venue is being provided but there are lots of other costs to consider

    So 2017 will need to be a frugal year with lots of money making and store cupboard challenges

    Applied for a balance transfer card with no fee to move some of the stooze money from one credit card where the 0% expires in March so I can clear it; I got accepted... with 1,000 limit

    So will BT 800 (which is the maximum) from first card to new card and then clear the rest of first card balance from savings. Once it's cleared I will do a new MT on first card for the maximum which is then 0% until March 2018.

    • katep23
    • By katep23 18th Jan 17, 7:22 PM
    • 1,147 Posts
    • 8,742 Thanks
    katep23
    So far we have spent 270 on groceries so my first grocery challenge is to get to 2nd Feb (day credit card statement is created) only spending another 80 so total 350 for the month...

    Just doing an 0cado shop and then it will be @ldi for any top ups for the rest of the month

    Need to get listing on eB@y, lots to go on and had no sales since new year.

    151 in TCB confirmed but not yet payable and 100 of cashback from credit card due next month.

    OH's car is poorly; we could really do with getting it through the next year before replacing it He is going to look to see what is wrong but even that costs as he will need to remove seals which have to be replaced when the parts are put back but to be fair it has been very reliable and we have had it for 6 years. We can't sell it as it has a noticeable oil leak so need to get it fixed.

    Also need to tart my car up ready to sell; we have 3 cars (well 3 functioning cars ) and need to sell one to use the capital to reduce the debt from the roof. It was always the plan but this is pushing us into action.

    Plus side is my car costs 400 a year insurance and 290 tax so instant saving there

    Downside is I do love my car which is why I have resisted so far.

    Have taken lunch to work every day so far this year and have not spent any money on extras; am being very organised with breakfast (after gym at work), lunch and dinner every day. Helps that I'm doing SW so have to be prepared

    • katep23
    • By katep23 2nd Feb 17, 8:44 AM
    • 1,147 Posts
    • 8,742 Thanks
    katep23
    December 2014
    Mortgage 346,545.00
    Mortgage free date 2044
    LTV 86.64%

    2nd February 2017
    Mortgage 324,999.87

    Total paid off capital in last month: 878.69
    Total paid off capital: 21,595.13

    MOS: 3,389.44

    LTV: 81.25%

    Amount to Mortgage Neutral - 321,610.43

    MOS and Amount to Mortgage Neutral are very fluid at the moment as we are paying for work - wood burner being installed as I type - so not really meaningful but I like to record it anyway.

    Oh and I might have made a sneaky 25 OP to bring the total under 325k!

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