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  • FIRST POST
    • amycool
    • By amycool 25th Jul 14, 4:43 PM
    • 670Posts
    • 2,969Thanks
    amycool
    Second Time Lucky
    • #1
    • 25th Jul 14, 4:43 PM
    Second Time Lucky 25th Jul 14 at 4:43 PM
    Hi,

    Having got very close to becoming mortgage-free (about £8000 remaining) on our first house, we will soon be moving into the house that we intend to live in for a very long time, which means taking on another mortgage.

    I have really enjoyed reading everyone's diaries over the past few years and think it will be motivational to record our progress once we move in and start to overpay. I expect it will be incredibly dull to read for others so I hope nobody minds me taking up internet space.

    Background - a little about me

    My husband and I have been together since we were teenagers
    but we don't really share the same financial opinions. He is very laid-back with money and will spend it if it is there, but he's happy for me to budget how I see fit and trusts my financial decisions. I suspect I could remove £10,000 from the savings account and he wouldn't notice. I grew up in a household where every penny counted and for a time we relied on government benefits, so since being very little I have been very debt-averse and have always saved.

    We have both worked since we were 15 and during university we lived with OH's parents. Things didn't go quite to plan with my career due to illness so we stayed there rather longer than planned, but they very kindly allowed us to live rent-free as we were saving for a deposit.

    In Spring 2011 we bought our first home with a large deposit from our savings. The plan was to stay here for 5 years and pay off the mortgage (OH was still training when we bought but is now qualified and employed) but we realised we didn't want to keep waiting to have children and we wanted to move somewhere bigger first.

    The Mortgage

    Our new mortgage will be £70000 on a 2 year fix at 2.64%.
    Monthly payments are £500.

    The short-term plan

    The house needs work but we want to get into the habit of overpaying and knock a nice chunk off before we have children (hoping to adopt next year) so the initial plan is:

    50% of anything left over to overpayments
    50% to be split between various savings pots
    Aim for a £10,000 emergency pot

    Having been mega-frugal for a very long time I'm quite bad at spending money and if left to my own devices I would probably cut back on everything and overpay as much as I can. However, I'd quite like a nice house and the occasional holiday so by choosing 50% I can't go overboard.

    Of course we might uncover all manner of things at the new house so I'm not setting a figure to aim for at the moment. Once we have moved in and worked out how much it will cost to run I will have a better idea.

    The long-term plan

    To be mortgage-free by the time we are 40

Page 31
    • amycool
    • By amycool 4th Oct 16, 2:11 PM
    • 670 Posts
    • 2,969 Thanks
    amycool
    Just took 15 minutes to withdraw £46.46 (the treadmill) from Paypal. They don't make it easy do they?

    I'm getting very bored of being ill now. I don't feel at all better but I do have another week of antibiotics so we'll see.

    Thank goodness for Specsavers insuring children's glasses for free. Last night DD was pretending to fly a kite on the way home from school and ran at full speed into a lamppost. Somehow she didn't knock herself out but did have a bloody face as the glasses cut into her. Anyway, they're beyond repair so we're off tonight to hopefully get a new set of frames. I sent her today with her old pair, so I'm not sure how she'll manage.

    I started sketching some designs for our modern nautical room yesterday. I'm thinking rather than sewing the designs onto curtains, I could just use that bondaweb stuff. I never use it with clothes as it falls off in the wash but the curtains never get washed (do other people wash their curtains regularly???) unless really grubby. I have some nice red fabric in my stash but would have to buy the other colours. I'm trying to stick to 5 colours if possible.

    I have also been pondering making our own hearth with a basic wooden frame and then tiling on top. I'm thinking plain white tiles and then I'll paint the designs onto them. It's a lot of work but much more interesting than a slab of granite or marble. And cheaper of course!

    So much to do but I'm supposed to be resting.
    Mortgage (Start Sep 2014)- £70,295/£45844.47- 34.8%
    Overpayments - £14435.03
    • amycool
    • By amycool 7th Oct 16, 10:33 AM
    • 670 Posts
    • 2,969 Thanks
    amycool
    Just letting you guys know that I might be away for the next few weeks in hospital. I became allergic to the medication and as I have a rare form of pneumonia it means possibly 3 weeks in hospital. No idea how we will cope. Trying not to worry until we know more on Monday. xxx
    Mortgage (Start Sep 2014)- £70,295/£45844.47- 34.8%
    Overpayments - £14435.03
    • Muser1
    • By Muser1 7th Oct 16, 11:19 AM
    • 757 Posts
    • 3,898 Thanks
    Muser1
    Love and strength to you xxx
    Mortgage Jan 13 99260.00 Nov 16 88800.34
    Emergency fund 2500.00
    • debtfreeoneday
    • By debtfreeoneday 7th Oct 16, 1:24 PM
    • 2,386 Posts
    • 7,893 Thanks
    debtfreeoneday
    You will find a way Amy, just concentrate on getting better.. hugs x
    DFW (08/08) £64,346.53
    CC1 - £1111.99 ~~~ CC2 - £975.00
    MFW (01/15) £118,031.21 £102,178.42
    • Pushkin
    • By Pushkin 7th Oct 16, 5:18 PM
    • 739 Posts
    • 2,755 Thanks
    Pushkin
    Wishing you all the best Amycool. I know it's easier said than done but listen to the experts and take the time you need to get better. x
    • in need of direction
    • By in need of direction 7th Oct 16, 8:32 PM
    • 4,063 Posts
    • 22,747 Thanks
    in need of direction
    Fingers crossed that your health gets sorted and that dd copes well.
    Mortgage at 01.01.14 £119,481.83 today £86,391.14 yr1 target met 11.57% cleared
    Current target pay £26,805.30 by 31.12.2016. more than £14660.82 54.69% paid to date

    Emergency fund £3.8k & £200 cash. Mortgage offset fund £6237.54.
    determined to stop defining myself by my mistakes.
    Progress not perfection.
    • Firegirl
    • By Firegirl 8th Oct 16, 2:34 AM
    • 611 Posts
    • 2,462 Thanks
    Firegirl
    Sorry to hear your not well AC. Wishing you a speedy recovery. X
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022
    Current Mortgage Balance £225630
    Target for May 2017 - Somewhere inbetween 2 figures below!!
    19 Year Target Balance MF55= £216, 793
    14 Year Target Balance MF50= £207, 700
    • Pearla*Merle
    • By Pearla*Merle 8th Oct 16, 8:55 AM
    • 1,517 Posts
    • 8,792 Thanks
    Pearla*Merle
    Sending you lots of love & healing vibes, Amy xx
    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.
    • giblet1979
    • By giblet1979 9th Oct 16, 11:53 AM
    • 846 Posts
    • 3,398 Thanks
    giblet1979
    Oh Amy how awful....sending lots of love and I hope you feel much better soon. Let us know how you are when you get chance...we'll be thinking of you xx
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

    Work overpayment and home improvement loan paid back (£19200)


    • amycool
    • By amycool 9th Oct 16, 2:48 PM
    • 670 Posts
    • 2,969 Thanks
    amycool
    Oh wow, thank you for all the lovely messages. I feel a bit like it's the day before I go to court for murder today (not that I know what that feels like). I ended up telling DD as I thought it better that she had some time to prepare for the worst. We've had about 7 meltdowns so far today and she's really anxious. She's at a party with OH (who keeps crying and is really struggling) so I'm just getting bags and things ready. I've written a list of phone numbers, the daily routine, and any log-ins.

    I keep jumping from "It'll be fine - let's not think about it" to "Oh my god how on earth will we get through this?"

    We went shopping yesterday for lots of sweets and a few gifts for DD. She's getting chocolate cereal this week. I feel so guilty for potentially leaving her. I have to keep strong though as it seems nobody else is! It's always easier being the patient in my experience, regardless of how painful the illness. OH would do anything to swap with me.

    Anyway, wish me luck. I'm trying to plan for the worst but hope for the best.
    Mortgage (Start Sep 2014)- £70,295/£45844.47- 34.8%
    Overpayments - £14435.03
    • amycool
    • By amycool 10th Oct 16, 1:18 PM
    • 670 Posts
    • 2,969 Thanks
    amycool
    Massively relieved today and lots of tears! The bug I thought I had is actually a different one and I can be treated at home with steroids and antibiotics. Ordinarily rubbish news but today it is good.

    After a weekend of putting on a brave face and being positive I can stop worrying. Obviously I'm still ill but I'm home.
    Mortgage (Start Sep 2014)- £70,295/£45844.47- 34.8%
    Overpayments - £14435.03
    • Muser1
    • By Muser1 10th Oct 16, 1:25 PM
    • 757 Posts
    • 3,898 Thanks
    Muser1
    I'm so pleased for you. Rest up and get well x
    Mortgage Jan 13 99260.00 Nov 16 88800.34
    Emergency fund 2500.00
    • giblet1979
    • By giblet1979 10th Oct 16, 1:50 PM
    • 846 Posts
    • 3,398 Thanks
    giblet1979
    Woo hoo! Lots of happy hugs amy Still, think of this as time to rest and give yourself a chance to get better!
    Hope your OH and DD do lots of looking after you now xx
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

    Work overpayment and home improvement loan paid back (£19200)


    • in need of direction
    • By in need of direction 10th Oct 16, 9:42 PM
    • 4,063 Posts
    • 22,747 Thanks
    in need of direction
    Just do exactly as you're told. Some short term pain is better for long term gain for both you and dd. Lots of hugs. Take care.
    Mortgage at 01.01.14 £119,481.83 today £86,391.14 yr1 target met 11.57% cleared
    Current target pay £26,805.30 by 31.12.2016. more than £14660.82 54.69% paid to date

    Emergency fund £3.8k & £200 cash. Mortgage offset fund £6237.54.
    determined to stop defining myself by my mistakes.
    Progress not perfection.
    • amycool
    • By amycool 12th Oct 16, 1:27 PM
    • 670 Posts
    • 2,969 Thanks
    amycool
    Thank you you lovely people.

    Yesterday I was in agony all day (I suspect it's the steroids) and could hardly walk so tonight Grandma is picking DD up and having her for an hour or so. Thursday I have paid for afterschool club. Hopefully by Friday my body will be getting used to the drugs.

    It's been quite costly this ill-business! I spent quite a bit on hospital stuff and treats to keep my morale up, and now we have afterschool club to pay for. Also hospital parking and diesel to get there.

    In big decision news:
    I am quitting driving. It's causing me so much stress as every week that goes by it gets less likely I will pass before the theory test runs out, and even if I recover in 2 weeks, then it's school holidays, then DD's birthday, then Christmas is coming up so I don't feel I can 100% commit to it. I also don't really like it and it costs so much money. Part of me feels awful for wasting so much and not passing, but I think now I know how to drive (not to pass standard, but I can do it almost without thinking) maybe in a few years when life is less stressful I could book an intensive course.

    In the short term - the £1000 I had put aside can now pay for the lounge re-decorating. I feel better for having made the decision. I guess when you're faced with illness you think twice about what is most important. Realistically, I'd only be driving at the weekend anyway as we only have one car and as DD gets older she'll be more able to walk or get public transport. I never had a car as a kid (at all) and it did very little harm. DD will at least have access to one at the weekends.

    In other news, OH's job is insanely busy so more evenings being worked, which isn't ideal. He's very stressed. I also need to look into his pension. His old one had a hefty sum as life insurance but I don't actually know what this one is like. We'll get his first full pay at the end of the month so I'll have a better idea of how much is left each month.

    I am so in love with our rats right now. They cost us a fortune as we buy the best food available and the best bedding etc but it's so worth it. Last night I sat playing with them for an hour and they're so lovely and funny and adorable. They seem to have stopped growing of late so maybe they're just genetically smaller than average (only 210-250g each). I think we've worked out the safest way to free-range them now, that is until Apple works out how to get out again. She's so agile she can shimmy up things and also jump very high. I was a bit perturbed last night on "The Yorkshire Vet" as a boy had a single rat (really bad for them to live alone) who constantly squeaked (ours only squeaked when we first got them and they were scared) and was overweight. He had this tiny run that was barely a foot high and the rat didn't even attempt to climb it. Ours could leap over the edge easily!

    Gas is going to cost more this year. We've decided to heat the conservatory as that's the rat room in the evening and it gets freezing. Also, it's one of the biggest nicest rooms in the house and we can't use it 8 months of the year. I'm still pretty tight with the heating (it will never reach 24 degrees in my house!) but it can't be good for my health for it to be cold so I've set the boiler at 19 degrees (when we're home).

    Better go and update the spreadsheet. I also need to find some time to share everything with OH as he was panicking a bit last week. He has no clue how much money we have or anything. I do try to explain but it's not in his nature to care.
    Mortgage (Start Sep 2014)- £70,295/£45844.47- 34.8%
    Overpayments - £14435.03
    • Pushkin
    • By Pushkin 12th Oct 16, 5:36 PM
    • 739 Posts
    • 2,755 Thanks
    Pushkin
    Heating a room for rats - I love it!!!!!!!!

    Hope you start feeling better soon Amy, the worst part is not knowing what is wrong, at least now they've diagnosed it and prescribed the treatment you should be on the mend.

    Take care.
    • amycool
    • By amycool 20th Oct 16, 12:47 PM
    • 670 Posts
    • 2,969 Thanks
    amycool
    Very tired today. DD has one of those incredibly annoying tickly coughs that go on all night and day. None of us has slept all week and we're all getting a bit grumpy.

    Anyway, here are some money things to report:

    Bad news: OH was about to miss his train so thought he'd jump on and pay on the train. No ticket people on the train. £80 fine.

    Good news: We've had a cheque from the tax man as OH overpaid - £800!!!

    I'm still cross about the £80 as it's a lot of money but it doesn't seem as bad now.

    I've decided on a holiday for next year. I really wanted Center Parcs or something similar but it's ridiculously expensive during school holidays and didn't seem worth it. So I've found a holiday park with lodges plus stuff like a lovely pool, archery etc and if we do a Mon-Fri again the accommodation will be less than £600. It's in the Whit holiday - we still can't afford the summer holidays. I'm pondering whether to book it now or wait and see if they have money off in the new year. Also, my Mum won't get her holiday dates until the new year. I think I'll just wait and hope they don't all sell out. The other bonus is that it's only 1hr 15mins away so no horrendous long car journey!

    Progress on the living room is slow and painful. I'm still on antibiotics (and getting all the lovely side effects) so I'm trying to do a little bit of wallpaper stripping here and there but largely I am failing. I have got my eye on a fire surround on ebay but no idea what it will go for. I'm thinking £50 but I might be way off. Also hoping to get the materials to make the hearth this weekend. DD is off next week so I won't be able to actually make it until the week after. I'm desperate to get the new sofa as ours is so uncomfortable now but I don't want it to get ruined.

    We got the bulbs planted at the weekend (I say we, OH did) and I used my garden centre vouchers to buy some discount pansies and compost. DD also spotted some personalised Christmas decorations that were extortionate but I had intended for us to get some nice special ones.

    To do:

    Contact mortgage provider to see how much we can overpay this year without getting fined

    Order curtains

    Order tile paint

    Bid on fire surround

    Buy hearth materials

    Book dentist (so very overdue now)

    Book flu jab once finished antibiotics

    Strip wallpaper

    To do next month:

    Get electrician to fit chandelier and sort burglar alarm

    Get decorator to put up lining paper

    Paint lining paper

    Order settee

    Make hearth, fit surround and tile

    Applique curtains and hang
    Mortgage (Start Sep 2014)- £70,295/£45844.47- 34.8%
    Overpayments - £14435.03
    • Tropically
    • By Tropically 20th Oct 16, 1:04 PM
    • 53 Posts
    • 153 Thanks
    Tropically
    You can fight the fine very easily, as I have for a similar occasion. Use the Independent Penalty Fares Appeals Service (IPFAS) or the Independent Appeals Service. It's worth a try - don't pay until you try this.
    • amycool
    • By amycool 20th Oct 16, 1:09 PM
    • 670 Posts
    • 2,969 Thanks
    amycool
    Thanks Tropically - I think they make it scary with the wording and threatening to charge more. I haven't actually seen the letter OH got yet so will have a good look.

    Just contacted Halifax and I have gone over my 10% overpayments! I stupidly thought it started again when you get a new deal, but of course it doesn't. Thankfully very little harm done but I can't overpay now until January. That's going to be weird.

    Bought the tile paint and bondaweb but the curtains had gone up from £72 to £120 so I've left that. Doh!
    Mortgage (Start Sep 2014)- £70,295/£45844.47- 34.8%
    Overpayments - £14435.03
    • debtfreeoneday
    • By debtfreeoneday 21st Oct 16, 11:41 AM
    • 2,386 Posts
    • 7,893 Thanks
    debtfreeoneday
    Glad you're at home recovering, boo to the fine and yes at least try and fight it. Sounds like a good decision re the driving.. have a great half term!
    DFW (08/08) £64,346.53
    CC1 - £1111.99 ~~~ CC2 - £975.00
    MFW (01/15) £118,031.21 £102,178.42
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