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  • FIRST POST
    • Kittenkirst
    • By Kittenkirst 5th Feb 16, 10:35 AM
    • 1,633Posts
    • 8,516Thanks
    Kittenkirst
    Getting a mortgage and then becoming mortgage-free!
    • #1
    • 5th Feb 16, 10:35 AM
    Getting a mortgage and then becoming mortgage-free! 5th Feb 16 at 10:35 AM
    Hi all!
    So from my title you may have guessed I don't yet have a mortgage, however I am hoping that will all change within the next few weeks.
    I will then start on overpaying the mortgage and really penny pinching to try and reduce it down as much as possible!

    I'm hoping this is alright to start my diary in here? :-)

    The story so far, my lovely girlfriend and I have been discussing getting a place together for some time. We started looking at houses (al very small and far from her parents- which is a no-no, we want to be close to them to visit regularly). Last weekend we went to see a new build development and fell in love with a house- less than 2 miles from her parents, perfect size for the two of us and within our budget (from getting mortgage in principle information and confirming monthly payments were well within our budgets).

    Sooooo we took her parents round for their seal of approval, spoke with an agent we know through the family about pertinent questions to ask, did lots of number crunching and then placed a reservation.....

    ....so we've now got paperwork from solicitors re the conveyancing etc and paperwork from the mortgage advisors to sort out this weekend.
    We have re-jogged our budget to ensure we had the deposit in savings by end of Feb (we thought we'd have a few months before we found anywhere) so are ready to almost hand over £18500 :O

    I have agreed to move into her parents house and pay rent in mid March to prevent paying rent, bills and food (will save an extra £500 a month) so we should be in a good position for when the house is ready September/October time!

    Does anyone have any hints or tips so far?

    Our brokers/solicitors are ones recommended by family who've used them and really recommend them and we've sense checked the rates the solicitors charge to ensure its competitive.
    2017 MFW #20 - OP £2348.20/ £2150 106%. New target £2500 93.9%
    Last 3 months- Oct: £179.60 Nov: £160.33 Dec: £52.33

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
Page 2
    • Kittenkirst
    • By Kittenkirst 15th Feb 16, 10:27 PM
    • 1,633 Posts
    • 8,516 Thanks
    Kittenkirst
    Hey Path to freedom!
    Yes, thanks for adding it in as I forgot to mention. It's up for sale now but not shifting! We checked with mortgage advisor and if not sold by completion date will be an eye watering extra £5300.

    However, if she sells within 18 months it will be refunded. We are lucky that her mum has said she is happy to cover that, IF she doesn't sell by completion.

    Fingers crossed she does as I really don't want to be borrowing (very very kind of her to do!)
    2017 MFW #20 - OP £2348.20/ £2150 106%. New target £2500 93.9%
    Last 3 months- Oct: £179.60 Nov: £160.33 Dec: £52.33

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • Kittenkirst
    • By Kittenkirst 15th Feb 16, 10:30 PM
    • 1,633 Posts
    • 8,516 Thanks
    Kittenkirst
    Ooooooooh and I forgot; today has been a NSD ( packed breakfast lunch and coffees!) It was payday too so have moved all the savings and the bills money around too :-D

    Annnnnd eBay listings last night- have 5 items reached minimums already so only four more to reach minimum by Sunday evening. The girlfriends also had three items reach minimum, including one at £26 unexpectedly!
    All for the deposit/legal fees/flooring pots lol!

    Enjoy your week lovelies!
    2017 MFW #20 - OP £2348.20/ £2150 106%. New target £2500 93.9%
    Last 3 months- Oct: £179.60 Nov: £160.33 Dec: £52.33

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • Kittenkirst
    • By Kittenkirst 16th Feb 16, 7:07 PM
    • 1,633 Posts
    • 8,516 Thanks
    Kittenkirst
    Evening!

    So all paperwork ready to post off tomorrow ready for mortgage application- apart from gf's mortgage statement that's still not arrived :O

    Had an email today that £3 in pinecone account for completing my first survey- these will be saved for Starbucks treats as we're both suckers for a frothy coffee and trying to limit this!

    Today wasn't a no spend day as struggling with work load so I went and got a Diet Coke from vending machine- 72p so not the wort in the world but it was unnecessary really!
    2017 MFW #20 - OP £2348.20/ £2150 106%. New target £2500 93.9%
    Last 3 months- Oct: £179.60 Nov: £160.33 Dec: £52.33

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • bexster1975
    • By bexster1975 16th Feb 16, 7:59 PM
    • 1,063 Posts
    • 4,884 Thanks
    bexster1975
    Hi

    Thought I would mention, if you have a benefit cosmetics counter/store near you they are giving out cup sleeves for two for one on hot drinks in starbucks, valid until end of March!

    Good luck with mortgage application!

    Bexster
    • Kittenkirst
    • By Kittenkirst 17th Feb 16, 7:32 AM
    • 1,633 Posts
    • 8,516 Thanks
    Kittenkirst
    Oooooooh thanks Bexster- I did pop into my local Debenhams when in town but they advised they had them on the first day and ran out!
    Thank you!

    Must remember to nip in and ask when next in town again though as I had forgot :-)

    The lovely gf did use a voucher site recently- spent £16 got £2 free for starbs and a a free £5 signing bonus so got £7 in total free!!
    I'm going to register too so we get double bubble between us! £14 is a lot of skinny lattes- heaven!
    2017 MFW #20 - OP £2348.20/ £2150 106%. New target £2500 93.9%
    Last 3 months- Oct: £179.60 Nov: £160.33 Dec: £52.33

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • Kittenkirst
    • By Kittenkirst 17th Feb 16, 5:32 PM
    • 1,633 Posts
    • 8,516 Thanks
    Kittenkirst
    Today's update is that we've paid the deposit for the solicitors today yay!!
    Although that makes us £300 lighter!
    We had a celebratory latte each this morning as the gf is traveling for work tonight

    However I am panicking slightly as cannot find my car keys- have been searching an hour already! Please tell me other people do this & im completely normal??!!
    2017 MFW #20 - OP £2348.20/ £2150 106%. New target £2500 93.9%
    Last 3 months- Oct: £179.60 Nov: £160.33 Dec: £52.33

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • Kittenkirst
    • By Kittenkirst 25th Feb 16, 4:54 PM
    • 1,633 Posts
    • 8,516 Thanks
    Kittenkirst
    Afternoon all,

    So only small movements for me today. All forms have been received by the mortgage brokers, just awaiting appointment to complete the applications now!

    Trying hard not to spend any frivolous money- and taking advantage of when work or suppliers put on a lunch spread (I'm usually very fussy but when faced with free food and more money for the house pot, the house pot wins!)

    Eb*ys been going well- £160 sold so far which I'm happy with :-)
    2017 MFW #20 - OP £2348.20/ £2150 106%. New target £2500 93.9%
    Last 3 months- Oct: £179.60 Nov: £160.33 Dec: £52.33

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • Kittenkirst
    • By Kittenkirst 27th Feb 16, 8:34 AM
    • 1,633 Posts
    • 8,516 Thanks
    Kittenkirst
    Mortgage appointment in a few hours!!!

    Need to ensure I make lots of notes and then have a good hunt around for other deals just in case!

    Also need to check clauses re overpayments etc!

    Wish us luck!!
    2017 MFW #20 - OP £2348.20/ £2150 106%. New target £2500 93.9%
    Last 3 months- Oct: £179.60 Nov: £160.33 Dec: £52.33

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • Kittenkirst
    • By Kittenkirst 27th Feb 16, 6:05 PM
    • 1,633 Posts
    • 8,516 Thanks
    Kittenkirst
    All very exciting today- mortgage broker session went well.

    Need to decide between fixed rate & discounted tracker rates now...and do some comparisons ourselves also!

    However the ones we are already considering allow overpayments up to an agreed percentage (which is around 17k per year which we far surpasses what we could afford to chuck at it really).

    eB*y sales are going well this week with 7/16 items reached starting price and fetching £25 so far! Fingers crossed for more in the mortgage pot!
    2017 MFW #20 - OP £2348.20/ £2150 106%. New target £2500 93.9%
    Last 3 months- Oct: £179.60 Nov: £160.33 Dec: £52.33

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • Kittenkirst
    • By Kittenkirst 1st Mar 16, 7:02 AM
    • 1,633 Posts
    • 8,516 Thanks
    Kittenkirst
    Spoke with the mortgage advisor yesterday.....so the three offers we were considering we cannot apply for

    Essentially the gf's flat (currently on market) has a permission to let on it, however as it was initially a residential mortgage incorrectly one provider won't accept an application from us. The other has advised that whilst the rent covers the mortgage, insurance & service charge/ground rent they would want the rent to be more. Despite agreeing we have more than sufficient income *sigh*

    Waiting to hear if we can get 2.99% rate for two years. We are limited as is a 90% LTV on a new build so only certain providers offer this.

    Fingers all crossed!!!
    2017 MFW #20 - OP £2348.20/ £2150 106%. New target £2500 93.9%
    Last 3 months- Oct: £179.60 Nov: £160.33 Dec: £52.33

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • EatingTheElephant
    • By EatingTheElephant 2nd Mar 16, 6:58 AM
    • 1,162 Posts
    • 6,229 Thanks
    EatingTheElephant
    Fingers crossed for you for the mortgage.

    That is really an eye watering amount if the flat doesn't sell
    • Kittenkirst
    • By Kittenkirst 2nd Mar 16, 7:25 AM
    • 1,633 Posts
    • 8,516 Thanks
    Kittenkirst
    Fingers crossed for you for the mortgage.

    That is really an eye watering amount if the flat doesn't sell
    Originally posted by EatingTheElephant
    Yes definitely EatingtheElephant! fingers crossed we have long enough before we get our house (estimate is September currently) to sell! Fingers & everything crossed!

    Today we should hear back from the mortgage broker.

    I'm hoping for a NSD today- I have a meeting for work and as my boss is there they'll usually provide coffees and some lunch (fingers crossed!). I'll have to pay for parking upfront but will then claim that back.

    I'm then off to my flat for a whizz round tidying up as the letting agents want to show people round tomorrow and it's like a bomb site :O so quick Hoover, lots of box shifting and it should at least look suitable for viewings! Hoping while I have use of work car I can bring a few boxes to the in-laws too. Only 14 days until move out day!

    Planning car boot at weekend to get rid of the clutter, as long as rain isn't forecast we should be there selling our wares! promised the gf a sausage cob for her efforts, and will pack a thermos or two as well as pack up to prevent is buying all the hot food there!

    4 things relistedon fleabay last night on 5 day listings, so if they don't shift into the boot sale pile they go!
    Last edited by Kittenkirst; 02-03-2016 at 7:29 AM.
    2017 MFW #20 - OP £2348.20/ £2150 106%. New target £2500 93.9%
    Last 3 months- Oct: £179.60 Nov: £160.33 Dec: £52.33

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • Kittenkirst
    • By Kittenkirst 4th Mar 16, 1:51 PM
    • 1,633 Posts
    • 8,516 Thanks
    Kittenkirst
    So this week has been a pretty pants work week....however I did get to go for a lovely meal with the gf on the one evening this week she's not been away with work. Really nice to go out and just relax and chat. Well worth the £29 spent between us

    Received an email late on Wednesday welcoming us to our Clydesdale mortgage.....so I'm really really waiting for the mortgage advisors call (he's been on a/leave to talk it all through)

    It allows overpayments up to 10% which is fab, so our budget spreadsheet now have a mortgage tab with the two years of payments, interests and a space for overpayment in with formulas to do the calculating *squeal*

    Also spoke with a number of friends who are tradesman re cost for the house builders to do work vs what they would cost so that we can start planning and budgeting for work needed at move in!

    I am trying really hard not to get too excited, until the application is sorted (I think this is the pre application approval).

    Planned car boot to declutter and raise some funds is probably postponed due to potential snow on Sunday
    2017 MFW #20 - OP £2348.20/ £2150 106%. New target £2500 93.9%
    Last 3 months- Oct: £179.60 Nov: £160.33 Dec: £52.33

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • debtfreeoneday
    • By debtfreeoneday 4th Mar 16, 8:16 PM
    • 2,786 Posts
    • 9,546 Thanks
    debtfreeoneday
    Just popping in here to say hello! You sound really organised, hope you get the mortage sorted.
    DFW (08/08) £64,346.53
    Credit card debt: £4392 over three credit cards.
    MFW (01/15) £118,031.21 £95,324.07
    • Kittenkirst
    • By Kittenkirst 5th Mar 16, 7:36 AM
    • 1,633 Posts
    • 8,516 Thanks
    Kittenkirst
    Thanks Debtfreeoneday, hoping by being as organised as possible we can get everything off to a good start :-)

    Today is all about the packing and shifting!
    About to get up, have some coffee & brekkie then off to my flat to do some mass packing. Must find more boxes out first though eeek

    Friend with a van is coming at 3 to move my three if furniture pieces (chest freezer- will go in garage for now, bookcase and silversmithing bench will go in storage above shop- hoping to still be able to use silver bench for the six months staying here :-)

    Gf is travelling back this morning as got stuck overnight due to snow- seems to have thawed enough to get her home. Will excitedly call mortgage advisor when she's back- excccccited!!

    Off to a friends after all the shifting, to watch some House of Cards- so excited about the new season- and some nibbles!
    2017 MFW #20 - OP £2348.20/ £2150 106%. New target £2500 93.9%
    Last 3 months- Oct: £179.60 Nov: £160.33 Dec: £52.33

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • debtfreeoneday
    • By debtfreeoneday 5th Mar 16, 10:35 AM
    • 2,786 Posts
    • 9,546 Thanks
    debtfreeoneday
    have a nice weekend..
    DFW (08/08) £64,346.53
    Credit card debt: £4392 over three credit cards.
    MFW (01/15) £118,031.21 £95,324.07
    • Kittenkirst
    • By Kittenkirst 6th Mar 16, 11:49 AM
    • 1,633 Posts
    • 8,516 Thanks
    Kittenkirst
    Soooo spoke with the mortgage guy yesterday and have paid the valuation fee to start the application with Clydesdale bank.

    Fixed rate for two years at 2.99% so not too bad- could be better but limited choice due to LTV on new build and the existing flat the gf rents out.

    Car boot done today and made £70 after the fee and petrol there & back so loads of clutter gone and more pennies for the pot. More listings to be done tonight for eBay after a nice lunch with the gf's mum for Mother's Day

    Happy Mother's Day to all x
    2017 MFW #20 - OP £2348.20/ £2150 106%. New target £2500 93.9%
    Last 3 months- Oct: £179.60 Nov: £160.33 Dec: £52.33

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • robgoode
    • By robgoode 6th Mar 16, 3:51 PM
    • 8 Posts
    • 7 Thanks
    robgoode
    Fingers crossed everything goes well for you. I'm currently in the process of saving up a deposit with my partner. Both just opened up HTB ISA so hopefully in a years time we are ready to get our own space. Will be following your journey and taking notes to try and help us when we get round to applying for mortgages etc.
    • Kittenkirst
    • By Kittenkirst 8th Mar 16, 7:03 AM
    • 1,633 Posts
    • 8,516 Thanks
    Kittenkirst
    Hi Robgoode! The help to buy isa's are a fantastic savings plan, good luck with the savings

    So yesterday was a bit of a dull day however it was a no spend day (NSD)- took packed lunch & breakfast to work and had use up supper of toad in the hole with onion gravy! When moving my stuff I've discovered I'm a bit of a stockpiler....6 packs sausages in freezer, 6 types of flour in the pantry, 5 new lip balms (& a tonne of open in-use ones!)

    Also updated our budget spreadsheet together- a little geeky but quite nice to do together as we're working on our together home!

    So time to start using this stuff up and get sensible with the ££!

    Had a few eBay sales at weekend so they are all packaged to nip to post office later today, also paying in my half of the car boot proceeds to the bank to prevent frittering it away.

    Have 9 days before the flat keys are handed in so more packing & cleaning to do. Have a lovely reward of a weekend in Rome just after that I'm very much looking forward to (was a Christmas present for the girlfriend ) Soooooo excited!! Plus it's budgeted for on both our sheets so will not worry about pennies in Rome (will beforehand to get best transport to airport etc!)

    Silversmith class tonight- must avoid Starbucks on route- will have a cuppa at my friends beforehand, much more sociable & less spends (may even take a latte sachet with me for frothy coffee goodness without the cost!)

    Hope all are having fab weeks!
    2017 MFW #20 - OP £2348.20/ £2150 106%. New target £2500 93.9%
    Last 3 months- Oct: £179.60 Nov: £160.33 Dec: £52.33

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • EatingTheElephant
    • By EatingTheElephant 8th Mar 16, 7:11 AM
    • 1,162 Posts
    • 6,229 Thanks
    EatingTheElephant
    Looking great on all fronts there! What a lovely treat to look forward to a trip to Rome.
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