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  • FIRST POST
    • sarahevie1
    • By sarahevie1 10th Apr 15, 12:36 AM
    • 406Posts
    • 2,223Thanks
    sarahevie1
    sarahevie's single quest to mortgage freedom
    • #1
    • 10th Apr 15, 12:36 AM
    sarahevie's single quest to mortgage freedom 10th Apr 15 at 12:36 AM
    I had a diary a while ago but I let it slip, my circumstances have changed massively in the last six months, so I am back aiming for one thing mortgage freedom.

    So about me, single mummy of three beautiful girls. Full time primary school teacher, I also have a Saturday job at a well known supermarket.

    About six months ago oh walked out on me after 12 years, I found myself 30, single and struggling. A few weeks later he was back, and we see each other most days, although he rents a flat in a nearby town. I've had to use literally all my savings to get the joint mortgage into my sole name, £20,000.

    My mum and dad paid oh his equity share of the house £10,000, will have to pay this back. Oh is now in the process of buying his own house, he's asked me to move into it with him, as he never felt like my house was his, although it was in joint names, I'm undecided about moving into ohs new house. All I know for certain is my house is my responsibility and the £58000 mortgage has to go.
Page 25
    • sarahevie1
    • By sarahevie1 8th Sep 16, 10:27 PM
    • 406 Posts
    • 2,223 Thanks
    sarahevie1
    Busy busy week, back at school.

    Unfortunately there has been a blip with DD3s nursery fees, well the standing order stopped August 2015 (I definitely did not stop it.) So I haven't paid for a whole year

    Now I have A LOT of expenses coming out of the account, but I cannot believe I missed it. Fortunately I have the savings to cover it, to think I've been thinking all year, the savings are coming along nicely. (How silly am I?)

    Anyway I owe the fees on the 1st of the month, so I've added Sept to the invoice and October (as a sweetner to show my intent.)

    I'm literally going to be living hand to mouth until I get my rent on the 30th of September, but I will definitely be keeping a closer eye.
    Mortgage 1 - £50000 Value £283000 (Mortgage val survey Sept 15.) 24 years 3 monthsOPs 66670 /Without OPs balance 119000
    Mortgage 2 - £109000 Value £185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt £300,000 - Now £159000
    • CathT
    • By CathT 9th Sep 16, 5:38 AM
    • 4,890 Posts
    • 33,504 Thanks
    CathT
    Yikes, that's a lot of money to find. I'm shocked the setting didn't chase it up, at least they could have alerted you.

    Did you go and view the preschool?
    June 2010 £121,287
    Dec 2016 £84,056
    WIOTW Dec £91,392
    • rasputin_thorpedo
    • By rasputin_thorpedo 9th Sep 16, 6:30 AM
    • 325 Posts
    • 1,888 Thanks
    rasputin_thorpedo
    Sorry to hear that - I would be livid with myself.

    On the plus side, living hand to mouth for three weeks can reinstall some great MFW behaviours and is always good for innovation

    Are you able to ask them whether you can stagger the payments. Phoned explain the situation?

    MvM
    May15 Mortgage - £185k | Dec16 - £162k | Dec17 - £142k | Dec18 - £120k | Dec19 - £97k | Dec20 - £73k | Dec21 - £46k | Dec22 - 18k | May23 - £0 Mortgage Free at 40 in May23!
    • sarahevie1
    • By sarahevie1 10th Sep 16, 12:19 AM
    • 406 Posts
    • 2,223 Thanks
    sarahevie1
    No I've paid it, felt so guilty I even paid Sept, Oct. September was due on the 1st, so owed anyway and I've paid October as it may take until October half term to find time to sort out the direct debit.

    Ultimately it was my fault. I'm surprised that I didn't notice that I had extra which doesn't really fit my limited income. Even the ex kept saying to me something is really a miss with your finances, you have too much money. (I kept saying I'm really frugal, which I am, but actually the extra was due to the nursery fees.)

    As I've cleared out all my savings, let's hope the students pay their rent when their loans come through on the 30th (they asked to pay 5 months rent at the end of Sept to see them through until their next loan installment end of Jan. They moved in July, but don't get loans through until end of Sept, hence the large payment due.)

    On the positive, this rent payment almost covers the mortgage until the end of their contract 30th June 2017. So any additional payments in Jan 2017, April 2017 will help to build savings and as long as the mortgage is covered, until end of June, I'll feel better about lack of savings.
    Mortgage 1 - £50000 Value £283000 (Mortgage val survey Sept 15.) 24 years 3 monthsOPs 66670 /Without OPs balance 119000
    Mortgage 2 - £109000 Value £185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt £300,000 - Now £159000
    • sarahevie1
    • By sarahevie1 10th Sep 16, 12:24 AM
    • 406 Posts
    • 2,223 Thanks
    sarahevie1
    Yikes, that's a lot of money to find. I'm shocked the setting didn't chase it up, at least they could have alerted you.

    Did you go and view the preschool?
    Originally posted by CathT
    I did a drive by when I was at a family birthday last weekend, but I haven't been able to view. The vendors want me to view when it is open and operational, which I appreciate. However, I started back teaching 1st Sept, so I'm at work when they are open.

    Unsure how to move forward, as I don't have the money to buy it, and unsure how to gain finance. Also i'm so busy in my new role at work, that I don't have the time to research. I've not given up on it, but it is on the backburner for now.
    Mortgage 1 - £50000 Value £283000 (Mortgage val survey Sept 15.) 24 years 3 monthsOPs 66670 /Without OPs balance 119000
    Mortgage 2 - £109000 Value £185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt £300,000 - Now £159000
    • sarahevie1
    • By sarahevie1 10th Sep 16, 3:21 PM
    • 406 Posts
    • 2,223 Thanks
    sarahevie1
    As expected, the tenants rent due end of September, covers more than the mortgage until the end of their contract. I will have a surplus of £275, so really happy. One of the tenants also paid this morning, so feeling much better.

    When the next payments (Jan) (May) come through I'll have around £7000 which won't be needed to pay the mortgage.

    (The tax is already sorted, I keep that separate to pay the bill. Last year I paid too much so was refunded £877 so I am extremely careful with this. Well I have an accountant who keeps me in line.)
    Mortgage 1 - £50000 Value £283000 (Mortgage val survey Sept 15.) 24 years 3 monthsOPs 66670 /Without OPs balance 119000
    Mortgage 2 - £109000 Value £185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt £300,000 - Now £159000
    • A Frayed Knot
    • By A Frayed Knot 11th Sep 16, 11:52 AM
    • 1,743 Posts
    • 7,994 Thanks
    A Frayed Knot
    Busy busy week, back at school.

    Unfortunately there has been a blip with DD3s nursery fees, well the standing order stopped August 2015 (I definitely did not stop it.) So I haven't paid for a whole year
    Originally posted by sarahevie1

    I would have a word with the bank to see what happened, you may just get a little compensation, I know of someone who had bother when re-newing their mortgage, they got a whole months mortgage free


    And on the same note, I have just noticed that my council tax has not left my account, nobody to blame, but myself and there's me thinking, "I good at this money management thing"
    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
    • Maximum Saving
    • By Maximum Saving 11th Sep 16, 8:48 PM
    • 151 Posts
    • 267 Thanks
    Maximum Saving
    Hello. My am also a single parent . I have a 9 year old disabled son and a 7 year old daughter. I used to work as a primary school teacher and now I am a full time carer for my disabled son. I would suggest that you keep your house. Good luck.
    • sarahevie1
    • By sarahevie1 14th Sep 16, 8:16 PM
    • 406 Posts
    • 2,223 Thanks
    sarahevie1
    Hello. My am also a single parent . I have a 9 year old disabled son and a 7 year old daughter. I used to work as a primary school teacher and now I am a full time carer for my disabled son. I would suggest that you keep your house. Good luck.
    Originally posted by Maximum Saving
    Thanks for dropping by Maximum Saving, it must be hard on your own with a disabled child. My DD2 has had her issues, lung condition, but not severe enough for DLA or anything. I take my hat off to you for going for mortgage freedom whilst caring for your son, it must be really hard going.
    Mortgage 1 - £50000 Value £283000 (Mortgage val survey Sept 15.) 24 years 3 monthsOPs 66670 /Without OPs balance 119000
    Mortgage 2 - £109000 Value £185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt £300,000 - Now £159000
    • sarahevie1
    • By sarahevie1 18th Sep 16, 10:43 PM
    • 406 Posts
    • 2,223 Thanks
    sarahevie1
    So yesterday I got a red letter from my old energy supplier BG, this is despite having finalised and closed the account with them.

    I still apparently owed them £88, plus additional debt collection fee taking it to £106, anyhow I've paid it, don't want it lingering on my credit file. Have dug out my final payment when I switched suppliers though so will be chasing it.

    Also I received a tax refund earlier in the year and now HMRC have written saying it was an error so I've had to pay it back, £967. May it be a cautionary tale, savings are essential.
    Mortgage 1 - £50000 Value £283000 (Mortgage val survey Sept 15.) 24 years 3 monthsOPs 66670 /Without OPs balance 119000
    Mortgage 2 - £109000 Value £185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt £300,000 - Now £159000
    • sarahevie1
    • By sarahevie1 2nd Oct 16, 3:48 PM
    • 406 Posts
    • 2,223 Thanks
    sarahevie1
    It's DD1s bday tomorrow, and I've bought her a packet of knickers and socks. This is because I said it was either a party, or a present and she chose the party. I took her and 7 friends to a local climbing wall followed by pizza express, her choice. She had a great time but £135 later. She is being very sensible about it though, and unlike most of her friends will not be asking for anything else. The more I learn about being a parent, the more you give them, the more they expect.

    My tenants have paid it was a large lump sum, as it covers 6 months rent, so thats helped.

    Went to a christening this morning, then stayed in and cleaned the house. No spend day.
    Mortgage 1 - £50000 Value £283000 (Mortgage val survey Sept 15.) 24 years 3 monthsOPs 66670 /Without OPs balance 119000
    Mortgage 2 - £109000 Value £185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt £300,000 - Now £159000
    • sarahevie1
    • By sarahevie1 9th Oct 16, 9:58 PM
    • 406 Posts
    • 2,223 Thanks
    sarahevie1
    2 weeks and we will be in Spain, yay

    Had a pretty cheap weekend. Due to spending £80 last week on food, I brought this weeks in at £20, pretty pleased with that. I'm never going to be able to keep my food budget really cheap as the kids eat a lot of fruit, cheese, yoghurts and I like to have a few luxury items as we never get takeaways and rarely eat out.

    Have only spent £5 (on a gift) all weekend, so that is much better as well.

    Almost forgot had to get DD1 a pair of dance shoes £20, but her last pair have lasted 16 months so can't complain.
    Mortgage 1 - £50000 Value £283000 (Mortgage val survey Sept 15.) 24 years 3 monthsOPs 66670 /Without OPs balance 119000
    Mortgage 2 - £109000 Value £185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt £300,000 - Now £159000
    • sarahevie1
    • By sarahevie1 13th Oct 16, 11:58 PM
    • 406 Posts
    • 2,223 Thanks
    sarahevie1
    Cheap week, have managed on £5 all week in my purse, but did spend £6 in the earlier whilst waiting for DD2 to finish rainbows. Treated other girls to an icecream, drink.

    Work is getting me down a bit, at the moment, feel like I'm being shafted from all angles. 6 working days until holiday.

    Ex is all over me like a rash at the moment which is unnerving, not literally, but he won't leave me alone. Forever texting me, coming round til 11pm every night and then going home. The other night I told him it made me feel really uncomfortable but then I felt mean saying it. Haven't heard from him at all today which has been nice. I'm not sure of his agenda, and I'm at the point where I want my own life.

    I had a lightbulb moment over the summer, when I said to him, do you ever see us living together as a couple, he said no, so I basically said well leave me alone then. Ever since I can't get rid of him.

    On the plus side I realised yesterday that my mortgages are now only 6X income and I have £325000 of equity.
    Last edited by sarahevie1; 14-10-2016 at 9:32 PM.
    Mortgage 1 - £50000 Value £283000 (Mortgage val survey Sept 15.) 24 years 3 monthsOPs 66670 /Without OPs balance 119000
    Mortgage 2 - £109000 Value £185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt £300,000 - Now £159000
    • A Frayed Knot
    • By A Frayed Knot 14th Oct 16, 8:33 AM
    • 1,743 Posts
    • 7,994 Thanks
    A Frayed Knot
    Good for you re, ex - telling him to leave you alone. And equity - wow

    Think some ground rules are needed regarding ex, especially if you are at the point where you want to move on and lead your own life.
    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
    • sarahevie1
    • By sarahevie1 14th Oct 16, 9:34 PM
    • 406 Posts
    • 2,223 Thanks
    sarahevie1

    On the plus side I realised yesterday that my mortgages are now only 6X income and I have £325000 of equity.
    Originally posted by sarahevie1
    I don't routinely check how much equity I have, nor how many times my mortgage is vs income, but it came up on another forum about having 10X life insurance cover and it got me thinking.
    Mortgage 1 - £50000 Value £283000 (Mortgage val survey Sept 15.) 24 years 3 monthsOPs 66670 /Without OPs balance 119000
    Mortgage 2 - £109000 Value £185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt £300,000 - Now £159000
    • sarahevie1
    • By sarahevie1 22nd Oct 16, 3:39 PM
    • 406 Posts
    • 2,223 Thanks
    sarahevie1
    Expensive time of year. Car bills insurance, tax, MOT all due beginning of Nov.

    Heading off for sunnier climes tomorrow though, going for a week in the sun as its half term yay!

    From the 3rd of Dec I can start OPs again, as I've maxed my 10% allowance for this year. This isn't because I'm doing overly well, just that I've got a small mortgage so 10% isn't a great deal, £5600. Will be £5000 next year. Also Natwest made me put my term back up to 25 years as a single applicant so my standard payments are only £230.
    Mortgage 1 - £50000 Value £283000 (Mortgage val survey Sept 15.) 24 years 3 monthsOPs 66670 /Without OPs balance 119000
    Mortgage 2 - £109000 Value £185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt £300,000 - Now £159000
    • sarahevie1
    • By sarahevie1 22nd Oct 16, 10:53 PM
    • 406 Posts
    • 2,223 Thanks
    sarahevie1
    Saved £120 on my car insurance renewal by going through compare the market. Cost £295, plus £130 for 12 months road tax so spendy day.

    Didn't need much for the hols bought my eldest two daughters a fleece and a zip up top each for wearing on an evening on holiday, will also hopefully come in for autumn/winter, they have cardigans which aren't quite warm enough and jumpers which can be too wintry. They were cheap one of the fleeces had 90% off and cost £4.25, the other one was £6.99 both mountain warehouse. The zip up tops were George £4.50 each.

    Spent £32 in the supermarket on hol toiletries, two beach towels, snacks for the journey tomorrow, and sun tan lotion nivea kids factor 50 reduced from £8 a bottle to £3 a bottle, ended up buying four.
    Mortgage 1 - £50000 Value £283000 (Mortgage val survey Sept 15.) 24 years 3 monthsOPs 66670 /Without OPs balance 119000
    Mortgage 2 - £109000 Value £185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt £300,000 - Now £159000
    • debtfreeoneday
    • By debtfreeoneday 23rd Oct 16, 7:58 AM
    • 2,386 Posts
    • 7,911 Thanks
    debtfreeoneday
    have a great holiday x
    DFW (08/08) £64,346.53
    CC1 - £1111.99 ~~~ CC2 - £975.00
    MFW (01/15) £118,031.21 £102,178.42
    • Moneyfordreams
    • By Moneyfordreams 23rd Oct 16, 9:08 AM
    • 648 Posts
    • 3,055 Thanks
    Moneyfordreams
    Hope you have a lovely holiday
    Mortgage Feb '13 £200000, end 2038. Aiming for before March 2025 (crunched to 2034)
    January 16 £182800 : minimum £360 OP but needs to be £600 to achieve 2025
    Current mortgage £168060
    Car loan finished oct 16
    h@lifax CC £5360 0% until May 2018.. will pay minimum for now, slow stooze
    • beanielou
    • By beanielou 23rd Oct 16, 9:16 AM
    • 44,890 Posts
    • 155,586 Thanks
    beanielou
    Happy holidays
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.*** ***Keep plodding***
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