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  • FIRST POST
    • TwentySomethingGirl
    • By TwentySomethingGirl 31st Dec 15, 10:51 AM
    • 166Posts
    • 367Thanks
    TwentySomethingGirl
    TwentySomethingGirl aims to be a MF ThirtySomethingWoman - An MFW Fraud
    • #1
    • 31st Dec 15, 10:51 AM
    TwentySomethingGirl aims to be a MF ThirtySomethingWoman - An MFW Fraud 31st Dec 15 at 10:51 AM
    Hi
    I’ve been reading these threads for a while now and thought it might help me keep myself accountable if I have a diary here.
    To explain the title, I’d love to be mortgage free. I hate being in debt and though I know this is a marathon rather than a sprint it doesn’t stop me wanting it gone ASAP. That said, the current mortgage is on our first property (a 2 bed flat) which is not going to be our “forever home”. We want to move to a house with a garden in (hopefully) a few years, and start trying for kids in the next couple of years too. I realise that will come with a hike in the mortgage and that is the opposite direction to the one in which we should be travelling, and is counter-productive to being mortgage free. We’ve been OPing the mortgage but with the intention of better LTV when remortgage comes around and for the new purchase when that eventually happens, rather than thinking it’ll actually get paid off. I’d love to be fully mortgage free in the next 10-15 years, certainly before I’m 40.
    A bit about us...
    We’re currently a household of 2 adults (25 & 26), a small dog and a guinea pig. My husband and I both have all right paying jobs, and we don’t really have any extravagant habits. We bought our flat a year ago using the Help To Buy scheme for just shy of £170,000. The mortgage stands at about £122,000 and we owe the Government 20% of the property value when we sell, or pay the loan off.
    This has got to be quite a long post so if you’re still reading please join me. I can use all the help, tips, encouragement and information I can get.
    TSG
Page 4
    • TwentySomethingGirl
    • By TwentySomethingGirl 23rd Nov 16, 3:38 PM
    • 166 Posts
    • 367 Thanks
    TwentySomethingGirl
    So, progress report...

    The viewers who came on Saturday to see the flat have booked a second viewing for tomorrow evening so we're hopeful about that.

    We had a message from the EA yesterday to say that due to a few offers being submitted the vendor has chosen to go to best and final offers which had to be in by 2pm today. We upped ours as high as we're willing to go and sent a letter with it so fingers crossed.

    Hopefully by Friday we'll know where we stand with both properties/offers. It's annoying not knowing the other people's situations so we could know where we stand but the offer we have submitted, although 10k higher than asking, is what we're comfortable with as we really want the house and aren't in it to make a buck on it. I'm hoping the other people involved just want a bargain and we'll win. Hey ho, can only wait and see.
    Mortgage £126746 DEC14 £122423.53 DEC15 £115041.70 DEC16 Remortgaged Sep17 to pay off HtB loan £150000
    MFW2017 #85 £2633.7/£2500 12K IN 17 #85 £5500/£12000
    MFW2016 £3614.63/£2500
    MFW2015 £811.60/£1200
    • Kittenkirst
    • By Kittenkirst 24th Nov 16, 7:23 AM
    • 1,606 Posts
    • 8,359 Thanks
    Kittenkirst
    Fingers crossed on both fronts for you!! I imagine your both nervous & excited right now?
    2017 MFW #20 - OP £2151.52: £2150 100%
    Last 3 months- Sep £206.32 Oct: £179.60 Nov: £12.58

    Emergency fund £3945/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • TwentySomethingGirl
    • By TwentySomethingGirl 24th Nov 16, 12:41 PM
    • 166 Posts
    • 367 Thanks
    TwentySomethingGirl
    I was...
    We found out yesterday that they went for someone elses offer that was slightly higher than ours and they're a FTB. I swing between upset and angry, we'd really had our hearts set on it

    We're still going ahead with the second viewing on the flat. We don't think these people are in any rush so if they put an offer in we'll keep looking (and quietly hoping the sale falls through on the house, I know that's an awful thing to want) and see where we go from there.

    In mortgage news, I'd been delaying doing anything with the mortgage in case we moved but have now started the process to switch to a tracker deal at 1.64%. I've paid a chunk to the mortgage to get it below 60% LTV and the new rate should start from 1st January once I get it all sorted.
    Mortgage £126746 DEC14 £122423.53 DEC15 £115041.70 DEC16 Remortgaged Sep17 to pay off HtB loan £150000
    MFW2017 #85 £2633.7/£2500 12K IN 17 #85 £5500/£12000
    MFW2016 £3614.63/£2500
    MFW2015 £811.60/£1200
    • TwentySomethingGirl
    • By TwentySomethingGirl 3rd Jan 17, 2:58 PM
    • 166 Posts
    • 367 Thanks
    TwentySomethingGirl
    Happy new year!

    In house news, we've still not found anywhere we like. My husband wants to wait til the end of January to see if anything comes up and if not we're staying put which I'm quite happy with.

    I sorted out the new mortgage rate, 2 year tracker at 1.54% so the monthly payment has gone down by about 80 quid and the S/O for the overpayment has gone up to counter that so we're still paying £700 a month. Savings are looking quite healthy at the mo, but the current account is suffering somewhat...the trials and tribulations of having moved in around Christmas, all the annual bills come due in the worst possible month!
    Mortgage £126746 DEC14 £122423.53 DEC15 £115041.70 DEC16 Remortgaged Sep17 to pay off HtB loan £150000
    MFW2017 #85 £2633.7/£2500 12K IN 17 #85 £5500/£12000
    MFW2016 £3614.63/£2500
    MFW2015 £811.60/£1200
    • mrsp1987
    • By mrsp1987 4th Jan 17, 10:03 PM
    • 811 Posts
    • 3,920 Thanks
    mrsp1987
    This may sound terrible but the festive period leads to quite a lot of broken relationships which has a knock on effect to the housing market. I hear that the end of January can see an increase in properties being put up for sale due to those relationship problems.
    However whether these will be what you're after and in your area I can't say
    Mortgage April 2011: £108,499 30 yr term Current Mortgage £91,084.44 20 yrs left
    MFiT T4 #67 - Reduce mortgage from £99,310.76 to £80,000
    • TwentySomethingGirl
    • By TwentySomethingGirl 12th Jan 17, 2:16 PM
    • 166 Posts
    • 367 Thanks
    TwentySomethingGirl
    Well the wait goes on for a property. I had a call from the EA the other day "checking in" and telling me how they've had lots of valuations so are hopeful for lots of instructions and to look out for emails from them. Subsequent emails came from other branches because we've been put on a database and one of the properties was for offers overs £400k...our budget is up to £250k. I even don't like how they send the email, it's all in capitals, with bad grammar and even the emails seem pushy. They just annoy me.

    I've decided to start doing tilly tidies, and will try to remember to do them daily. Something on the N/Wide website says they allocate any overpayments of over £1 the next day. I've never done one for less than a pound so not too sure what happens if the payment is for less than that. My plan is to round the account down and I'll do it by a pound and the pence.

    January is going well so far, bar the annual bills that can't be avoided.

    Found out my sister is pregnant so I'm knitting her a blanket and I got a sale list through from a cross stitch company I'm quite keen on so will try and resist buying too much anything.
    Mortgage £126746 DEC14 £122423.53 DEC15 £115041.70 DEC16 Remortgaged Sep17 to pay off HtB loan £150000
    MFW2017 #85 £2633.7/£2500 12K IN 17 #85 £5500/£12000
    MFW2016 £3614.63/£2500
    MFW2015 £811.60/£1200
    • TwentySomethingGirl
    • By TwentySomethingGirl 5th May 17, 3:19 PM
    • 166 Posts
    • 367 Thanks
    TwentySomethingGirl
    Wow, I suck at this blogging thing!

    To recap, we didn't get the house we wanted. Husband said "let's stay on the market another month and see if anything comes up"...

    January became February became March became April. In April a house came up that we liked and after what would be a long story, we didn't get it. I told him I'm done with it and don't want to move which he duly reported to the EA who tried their best to get us to keep looking but I put my foot down (though they still have us on Rightmove!). We are now looking into remortgaging to incorporate the HTB loan later this year.

    Overpayments are still happening, albeit not at great speed. We're filling up interest bearing current accounts first but once that's done we'll probably start OPing more.

    The dog had to be treated for a poorly foot which turned out to be her being melodramatic with a bad itch for which the insurance will not pay out (she's had a foot infection before, and they're classing it as the same thing). Also had to have a new windscreen on my car which cost the £75 excess. That all meant savings in April, from March's payday, were non-existent but we seem to be back on track, and the husband's overtime made up for the month we didn't put anything aside.

    Sister's baby is due in July and the blanket is not as far along as it should be!

    That's about it, probably see you again in 4 months!
    Mortgage £126746 DEC14 £122423.53 DEC15 £115041.70 DEC16 Remortgaged Sep17 to pay off HtB loan £150000
    MFW2017 #85 £2633.7/£2500 12K IN 17 #85 £5500/£12000
    MFW2016 £3614.63/£2500
    MFW2015 £811.60/£1200
    • TwentySomethingGirl
    • By TwentySomethingGirl 2nd Jul 17, 11:12 PM
    • 166 Posts
    • 367 Thanks
    TwentySomethingGirl
    So just shy of 2 months since my last update, I'm getting better! I read a lot on here but am hopeless at posting...

    The dog's foot was fine in the end, though she then got a nasty ear infection. Luckily the insurance is going to pay out for that one less the £99 excess so not too bad, though she wasn't impressed with having her ear cleaned and drops put in it!

    Sister's baby is due in 3 weeks so I'm checking every message from her as soon as it comes in in case it's the big announcement. Knitted blanket has not been growing that quickly so will definitely not be ready in time.

    We decided to sack off looking to move. I was getting fed up of it all, I don't see why the whole process has to be such a palaver. We had a talk and agreed to stay put for at least 2 years and then see what's about. Shortly after this decision we found out we're having a baby! Little'un is due early December, husband is thrilled at a Christmas baby.

    We then decided we would remortgage and pay off our HTB loan early. Our basic gross salary is about £48k and I was concerned about how much we'd be able to get once a financial dependent, childcare and potentially a lower salary for me if I don't go back full time were taken into account. We had the flat valued and it came back as £200k so we've made some extra overpayments so the new mortgage will be £150k That's all in the process of going through and the new mortgage will be with Santander. It seems they only let you overpay by £500 at a time so we'll have to save up and pay it in lump sums rather than how we do it now.

    I'm only entitled to SMP so the overpayments will take a back seat next year. Any advice for getting by on one full salary and SMP??
    Mortgage £126746 DEC14 £122423.53 DEC15 £115041.70 DEC16 Remortgaged Sep17 to pay off HtB loan £150000
    MFW2017 #85 £2633.7/£2500 12K IN 17 #85 £5500/£12000
    MFW2016 £3614.63/£2500
    MFW2015 £811.60/£1200
    • SuperSecretSquirrel
    • By SuperSecretSquirrel 3rd Jul 17, 8:10 AM
    • 590 Posts
    • 2,606 Thanks
    SuperSecretSquirrel
    Congratulations on the baby news!

    Regards managing on SMP, we've found it to be much less of an issue in reality than we had originally anticipated. In our case SMP was about 47% of OHs full time net salary. Don't forget to add CB at £20.70pw (this took OH up to around 53% of full time net salary). Don't forget you'll drop some work related expenses too - can be substantial if you commute. We managed to still move forwards during maternity leave, just at a slower pace. We're now back for a second stint!

    Of course, taking care of your baby will cost a fair bit, but probably less than you think. Your social lives will disappear for a while, so the savings there help offset the cost. Sounds like a crappy deal before the baby is here, but once they are here it's a deal you'd take any day of the week

    I think dealing with the whole house buying and selling business while pregnant or with a tiny baby around would be nightmarish. The decision to drop the idea of moving for now seems to have come at the perfect time for you!
    Last edited by SuperSecretSquirrel; 03-07-2017 at 8:18 AM.
    Mtg [2013 £64k|2014 £51k|2015 £38k|2016 £26k] £15,667.31
    MN [2013-£25k|2014-£2k|2015+£16k|2016+£34k]
    48,973.75 (MFiT4:+60k)
    NW [2013 £126k|2014 £156k|2015 £190k|2016 £228k] £264,504.07 (2020:300k)
    FI [2013 -1.2%|2014 2.8%|2015 6.9%|2016 13%] 17.3%
    • kirtsypoos
    • By kirtsypoos 3rd Jul 17, 9:25 AM
    • 3,045 Posts
    • 13,519 Thanks
    kirtsypoos
    Congratulations, what lovely news!!
    £250/3000 OH BC(91.66% PAID)
    PAID VERY, Barclaycard x2, Vanquis, Natwest, O/D, Tesco & MBNA x2 PAID LBM 24/07/15 - Debt: £250/31010.23 (99.19% paid)
    Mortgage - £161,000.00 (2017 O/P £2221.94) PAYDBX 17 #006 - £17,309.18/14,539.71
    • TwentySomethingGirl
    • By TwentySomethingGirl 3rd Jul 17, 12:25 PM
    • 166 Posts
    • 367 Thanks
    TwentySomethingGirl
    Thank you for the congratulations!

    It's also nice to know others have managed to keep up with overpaying on SMP. I think we'll be able to but it's annoying that Santander only accept £500 at a time, I might aim for £500 a quarter maybe.

    After we found out about the baby I told my husband that I didn't want to even think about moving so all the Rightmove alerts were cancelled and we stopping window shopping. The plan now is to stay put for 2 years and by then I'll be back at work and we'll have a better idea of where we stand financially.

    In mortgage news, our regular payment and SO op went out today and the balance will officially stay below £110k ...at least until we add £40k to it Still, small victories!
    Mortgage £126746 DEC14 £122423.53 DEC15 £115041.70 DEC16 Remortgaged Sep17 to pay off HtB loan £150000
    MFW2017 #85 £2633.7/£2500 12K IN 17 #85 £5500/£12000
    MFW2016 £3614.63/£2500
    MFW2015 £811.60/£1200
    • TwentySomethingGirl
    • By TwentySomethingGirl 7th Jul 17, 3:52 PM
    • 166 Posts
    • 367 Thanks
    TwentySomethingGirl
    I'm determined to be better at posting here! So apologies for the inevitable verbal (typed?) diarrhea that this will probably become.

    I've had my car insurance renewal through. £295 for the year, lowest it's ever been! Have done some comparison quotes and I can get it for £256 but I need to check that the cover is the same. The renewal is with Direct Line and I did a quote with them and it came out more expensive?? First time ever a renewal hasn't been higher than a new quote!

    Not much else to report from money news. I'm trying to spend as little as possible so we don't have to take too much out of savings when it comes time to pay the conveyancing and admin fees for the remortgage. We're also going on holiday in August which needs to be paid for which is £800 so a spendy couple of months ahead but I'm hoping to keep on track. I was hoping to have £20k in savings by the end of the year and we keep hovering around the £14k mark but there's still time and overtime potential for Mr TSG so we might just make it.
    Mortgage £126746 DEC14 £122423.53 DEC15 £115041.70 DEC16 Remortgaged Sep17 to pay off HtB loan £150000
    MFW2017 #85 £2633.7/£2500 12K IN 17 #85 £5500/£12000
    MFW2016 £3614.63/£2500
    MFW2015 £811.60/£1200
    • mrsp1987
    • By mrsp1987 15th Jul 17, 7:12 PM
    • 811 Posts
    • 3,920 Thanks
    mrsp1987
    Congrats on the baby news!
    I'm with Santander and yes when you have a fixed rate mortgage they will only accept overpayments of £500 minimum so I save up £500 and then overpay. I too find it annoying!

    You've probably renewed since your last post but if you're going to go to a new insurer have you thought of also going through a cash back website like TopCashBack or QuidCo? You might be able to get the cheaper deal plus a fixed amount or percentage back as cashback? Just a thought
    Mortgage April 2011: £108,499 30 yr term Current Mortgage £91,084.44 20 yrs left
    MFiT T4 #67 - Reduce mortgage from £99,310.76 to £80,000
    • TwentySomethingGirl
    • By TwentySomethingGirl 11th Sep 17, 3:28 PM
    • 166 Posts
    • 367 Thanks
    TwentySomethingGirl
    So, 2.5 months after starting the remortgage, we have finally completed! The new mortgage stands at £150k A bit daunting given that I'll be on maternity leave later in the year but I hope to be able to overpay a bit. Not really sure what a realistic aim is for overpaying. I'll probably start with trying for £1k next year, and as we have to save up and pay in £500 chunks that'll be £500 every 6 months which is £83 a month.

    In other news, we've started sorting out the spare room to eventually become a nursery and will need to start getting bits and pieces for his lordship's arrival.
    Mortgage £126746 DEC14 £122423.53 DEC15 £115041.70 DEC16 Remortgaged Sep17 to pay off HtB loan £150000
    MFW2017 #85 £2633.7/£2500 12K IN 17 #85 £5500/£12000
    MFW2016 £3614.63/£2500
    MFW2015 £811.60/£1200
    • dizzyblnd
    • By dizzyblnd 11th Sep 17, 8:54 PM
    • 367 Posts
    • 3,241 Thanks
    dizzyblnd
    Just popping by to say congratulations! Such good news. I'll b reading on with interest.
    NST #30: nsd 19/21
    • TwentySomethingGirl
    • By TwentySomethingGirl 14th Sep 17, 3:45 PM
    • 166 Posts
    • 367 Thanks
    TwentySomethingGirl
    So as it has been a while, though not a lot has change (yet!) I have redone our SOA to see where we stand at the moment. This will obviously change once SMP starts...

    [font=courier new]Statement of Affairs and Personal Balance Sheet

    Household Information

    Number of adults in household........... 2
    Number of children in household......... 0
    Number of cars owned.................... 2

    Monthly Income Details

    Monthly income after tax................ 1391.62
    Partners monthly income after tax....... 1776.28
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 3167.9


    Monthly Expense Details

    Mortgage................................ 610
    Secured/HP loan repayments.............. 155
    Rent.................................... 0
    Management charge (leasehold property).. 67
    Council tax............................. 125
    Electricity............................. 43
    Gas..................................... 0
    Oil..................................... 0
    Water rates............................. 23
    Telephone (land line)................... 0
    Mobile phone............................ 52
    TV Licence.............................. 12
    Satellite/Cable TV...................... 47
    Internet Services....................... 0
    Groceries etc. ......................... 300
    Clothing................................ 0
    Petrol/diesel........................... 100
    Road tax................................ 11
    Car Insurance........................... 50
    Car maintenance (including MOT)......... 20
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 25
    Pet insurance/vet bills................. 45
    Buildings insurance..................... 0
    Contents insurance...................... 10
    Life assurance ......................... 62
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 0
    Entertainment........................... 200
    Holiday................................. 0
    Emergency fund.......................... 0
    Savings................................. 700
    Union................................... 13
    Total monthly expenses.................. 2670



    Assets

    Cash.................................... 13000
    House value (Gross)..................... 200000
    Shares and bonds........................ 0
    Car(s).................................. 18000
    Other assets............................ 0
    Total Assets............................ 231000



    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 150000...(610)......1.64
    Hire Purchase (HP) debt ...... 0........(155)......0
    Total secured & HP debts...... 150000....-.........-


    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    CC.............................1500......0........ .0
    Total unsecured debts..........1500......0.........-



    Monthly Budget Summary

    Total monthly income.................... 3,167.9
    Expenses (including HP & secured debts). 2,670
    Available for debt repayments........... 497.9
    Monthly UNsecured debt repayments....... 0
    Amount left after debt repayments....... 497.9


    Personal Balance Sheet Summary
    Total assets (things you own)........... 231,000
    Total HP & Secured debt................. -150,000
    Total Unsecured debt.................... -1,500
    Net Assets.............................. 79,500


    We don't have £500 left each month, but lately that is due to laziness and eating out a lot...we're trying to reign it in for the next couple of months when some of this money will be spent on baby related gubbins.
    Mortgage £126746 DEC14 £122423.53 DEC15 £115041.70 DEC16 Remortgaged Sep17 to pay off HtB loan £150000
    MFW2017 #85 £2633.7/£2500 12K IN 17 #85 £5500/£12000
    MFW2016 £3614.63/£2500
    MFW2015 £811.60/£1200
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