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  • FIRST POST
    • FloppyDisk
    • By FloppyDisk 21st Dec 15, 3:35 PM
    • 417Posts
    • 3,260Thanks
    FloppyDisk
    From Flat to Farmhouse
    • #1
    • 21st Dec 15, 3:35 PM
    From Flat to Farmhouse 21st Dec 15 at 3:35 PM
    Hello everyone, I am hoping some of you might recognise my name and no, my mission hasnít changed, I still have lofty ambitions of upgrading from my flat to something a little more spacious. I used to post here a year ago but letís be honest, my ex went a bit stalky so I had to take a step back and delete everything which is a bit of a shame but thatís boys for you

    So where were we? Oh yes, paying £400 a month in interest on my mortgage! I need to start 2016 with a renewed vigour towards my financial management. Whilst this wonít be wholey directed at the mortgage, I have found the community of MFWers so helpful in getting the balance right. Despite having the all-important spreadsheet, I have gotten a bit lost with my finances with the poor interest rates and having to use current accounts for savings, so I need to do a proper audit.

    As old friends will know, I have the slight disadvantage of being owned by an event horse who insists on having the best of everything. I am also severely hampered by my inability to cook and tend to fritter money away buying lunches.

    It is lovely to be back and focused on security, I have missed you all!
Page 4
    • Watty1
    • By Watty1 21st Apr 17, 4:58 PM
    • 2,713 Posts
    • 19,008 Thanks
    Watty1
    Hope nothing to serious re vet?
    Mortgage at start of diary Sept 2013: £132,995 Aug 2015 £0
    Overpaying next mortgage. £79,491 now £52963
    • FloppyDisk
    • By FloppyDisk 24th Apr 17, 4:04 PM
    • 417 Posts
    • 3,260 Thanks
    FloppyDisk
    Perhaps I should be grateful but it was entirely routine yet the inexperienced vet that showed up insisted on doing x-rays 'to be sure'. I intend to move to a new vets and tell them that I'm not insured and I have a feeling this sort of thing is less likely to happen in future!

    But for now the savings are looking a bit paltry with only £1397 in them, which does not a bathroom make! Starting to think about quotes now as the latest lodger has said she'll be leaving in a month or so.

    Hoss moving this weekend so savings might take another dip as I stock up on bedding and hay, but that will be quickly compensated for with no livery to pay.

    Monthly savings likely to be £262 now. Wah. £109.74 in TT OPs so far this month, not quite so wah.
    MFW July 2012 £139,642 / June 2017 £112,284
    • FloppyDisk
    • By FloppyDisk 25th Apr 17, 12:07 PM
    • 417 Posts
    • 3,260 Thanks
    FloppyDisk
    Lodger has paid nice and early for next month so savings back up to £2,038. Just one more month's rent from her then a break while we do the bathroom.
    MFW July 2012 £139,642 / June 2017 £112,284
    • FloppyDisk
    • By FloppyDisk 30th May 17, 5:50 PM
    • 417 Posts
    • 3,260 Thanks
    FloppyDisk
    I am awful at this. Going to attempt to keep track of June's food spends here and wittle down the budget as I go to try to limit the wastage.

    Lodger has paid her final month's rent and the insurance company paid up. I think I will put off the bathroom for another year as I'm not home much and it doesn't seem to put lodgers off. It's fully functional, just a bit out dated compared to the rest of the flat.

    Hoss is thankfully very settled at his new yard, and I'm really enjoying the DIY so the savings are looking healthy despite paying for lots of training and competitions. I have had a few interviews as well so I'm hoping that I will be well into the surplus soon, the Farmhouse dream is still alive and well!

    Just £2.13 TT'd for now though, every little helps!
    MFW July 2012 £139,642 / June 2017 £112,284
    • EatingTheElephant
    • By EatingTheElephant 30th May 17, 6:41 PM
    • 968 Posts
    • 4,935 Thanks
    EatingTheElephant
    Good news that hoss is all settled. DIY livery is good for increasing your fitness too without the gym fees! You are certainly right every little helps.

    Will you be looking for another lodger with the bathroom plans going on hold?
    • smallholdingsister
    • By smallholdingsister 30th May 17, 8:03 PM
    • 3,211 Posts
    • 23,870 Thanks
    smallholdingsister
    Did I miss you getting a new partner, Floppy?
    • FloppyDisk
    • By FloppyDisk 30th May 17, 10:34 PM
    • 417 Posts
    • 3,260 Thanks
    FloppyDisk
    Fraid so, coming up to a year now. He is on board with the idea of buying me stables so is allowed to stay for now.
    MFW July 2012 £139,642 / June 2017 £112,284
    • smallholdingsister
    • By smallholdingsister 31st May 17, 7:25 AM
    • 3,211 Posts
    • 23,870 Thanks
    smallholdingsister
    Goood! And congratulations!
    • FloppyDisk
    • By FloppyDisk 31st May 17, 7:33 AM
    • 417 Posts
    • 3,260 Thanks
    FloppyDisk
    Good news that hoss is all settled. DIY livery is good for increasing your fitness too without the gym fees! You are certainly right every little helps.

    Will you be looking for another lodger with the bathroom plans going on hold?
    Originally posted by EatingTheElephant
    I think that and a focus on food this month should help! It's much easier to restrict spending than eating.
    Yes I think I will plough straight on and get the next one in, am even thinking of going for a couple with more rent even if I go over the limit and pay tax. I have thought about renting it out as im hardly ever home but still want the flexibility of it being my home if that makes sense.
    MFW July 2012 £139,642 / June 2017 £112,284
    • FloppyDisk
    • By FloppyDisk 13th Jun 17, 2:13 PM
    • 417 Posts
    • 3,260 Thanks
    FloppyDisk
    It never rains, it only pours! Being stitched up at work, which has meant I've had no energy to meal plan or indeed make a claim for my horsebox which was damaged the other week. The hoss appears to have duffed his leg and a rug, one of which has been replaced already. And I am still awaiting a contract with a mahoosive pay rise to come through the door and fix everything.
    At least I have a good number of viewings lined up for the spare room so the lodger income should just roll on as usual.

    But, I have at last sorted my next mortgage deal, a lovely drop from 3.99% to 1.15% fixed for 2 years with 10% over payment allowance, which I'm unlikely to go even half way through.
    So I've now had the little flat for five whole years and made a total of £9,531.24 in overpayments, and takes the balance almost to a perfectly round £115,000 having started on £139,642.
    I have had income from a lodger 56 out of 60 months, and managed the same for overpayments. My monthly interest charged was £418.42 at one point, next month it will be £111.15 and best of all, the value of the flat has gone up by £100k so my equity/Farmhouse Fund is around £160,000.

    All of that and I managed to somehow sustain the most expensive hobby ever invented, which I'm labeling as the all important balance in life. Although I could benefit from a cash injection for an upgraded bathroom and horsebox very much right now, I resisted the temptation to take out equity during the remortgage, and am confident that I can save up and get things done when they are needed.

    And best of all, the future is looking particularly orange. Next review point will be Christmas 2018 when I hope to have the mortgage down to £105,000 with £175,000 equity.

    Phew! Good thing there's half a bottle of blanc in the fridge.
    MFW July 2012 £139,642 / June 2017 £112,284
    • hiddenshadow
    • By hiddenshadow 14th Jun 17, 8:07 AM
    • 2,124 Posts
    • 9,561 Thanks
    hiddenshadow
    Very nice figures on the mortgage, especially current monthly interest! You're getting close to double digit interest amounts.
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,669 / June '17 ££105,686 (£4,186 offset)
    Payment 41/84 / 2017 MFW #56: £13,981/£20,000 69% / MFiT-T4 #15: £53,813/£90,000 59%
    • FloppyDisk
    • By FloppyDisk 14th Jun 17, 11:01 AM
    • 417 Posts
    • 3,260 Thanks
    FloppyDisk
    Thanks Shadow. Unfortunately things have escalated with Hoss face and he has ligament damage needing at least 6 months off work. Having to wrestle with options and what that means for him now. Money isn't really an issue thankfully but quality of life for everyone involved is.
    Last edited by FloppyDisk; 16-06-2017 at 12:23 PM.
    MFW July 2012 £139,642 / June 2017 £112,284
    • EatingTheElephant
    • By EatingTheElephant 15th Jun 17, 7:41 AM
    • 968 Posts
    • 4,935 Thanks
    EatingTheElephant
    Sorry to hear about hoss and work being troublesome. Huge congratulations on mortgage figures.
    • hiddenshadow
    • By hiddenshadow 15th Jun 17, 5:00 PM
    • 2,124 Posts
    • 9,561 Thanks
    hiddenshadow
    Ooh, bummer. Can he go on super low-maintenance turn-out in the meantime? My TBs loved it when I gave them 24/7 turnout and didn't coop them in a stall. (Depends on his ligament treatment, of course.)
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,669 / June '17 ££105,686 (£4,186 offset)
    Payment 41/84 / 2017 MFW #56: £13,981/£20,000 69% / MFiT-T4 #15: £53,813/£90,000 59%
    • FloppyDisk
    • By FloppyDisk 15th Jun 17, 6:33 PM
    • 417 Posts
    • 3,260 Thanks
    FloppyDisk
    He could, and the new yard are so flexible and helpful, but it would be better if he was on proper box rest. He's such a kind horse that even if he isn't too impressed about it, he won't be stroppy or dangerous. Just have to see how it goes. It gives me a chance to sell the lorry as I had planned, with no rush to buy another, so it will be a few months to take stock.

    More than ever, the idea of a house with land would be lovely, long term security for me and the Hoss! And thankfully, I got offered the new job today which gives me a lot more options. Without an impending lorry purchase, I am tempted to overpay those savings and improve the figures more.
    MFW July 2012 £139,642 / June 2017 £112,284
    • hiddenshadow
    • By hiddenshadow 15th Jun 17, 11:12 PM
    • 2,124 Posts
    • 9,561 Thanks
    hiddenshadow
    Ooh, congrats on the job offer.
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,669 / June '17 ££105,686 (£4,186 offset)
    Payment 41/84 / 2017 MFW #56: £13,981/£20,000 69% / MFiT-T4 #15: £53,813/£90,000 59%
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