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  • FIRST POST
    • lcfcstephen
    • By lcfcstephen 1st Sep 16, 12:26 PM
    • 45Posts
    • 28Thanks
    lcfcstephen
    Stephen's Journey to Mortgage freedom
    • #1
    • 1st Sep 16, 12:26 PM
    Stephen's Journey to Mortgage freedom 1st Sep 16 at 12:26 PM
    Yesterday I finally completed on a house! It's a nice two bed in Manchester and cost me £133,995 and I'm so glad to be moving in shortly.
    I now have a mortgage of £67,195 as well as a Help to Buy Equity loan of 20% (currently 26,799).
    I am recently married (18th June) and currently work at an Investment bank on a salary that has just increased to £20,000. My lovely wife is currently looking for a job and so it is just my name on the mortgage. Between us we have slightly over £10,000 in cash left over spread across a few high interest savings accounts.
    My plans are: To overpay to at least £500 a month (£324 is the normal payment) and I think that this means that we can still save into LW's Help to Buy ISA (for next house) and save for furniture (we currently have the bare essentials - some of that being camping stuff!), whilst also hopefully saving for a car too.
    If/When LW gets a job (depending on salary) I am hoping that we can overpay to at least £600 and save into those other targets too.
    My long term plan is that I will remortgage in a couple of years and consolidate the Help to Buy Loan into the mortgage as I should be able to borrow enough to be able to do that. And we will move when it makes sense to (it's not a forever home.

    Obviously as I am moving into a new house there are several things I need to do especially to sort out with addresses with various official bodies, and I hope to do that by the end of the weekend, as well as being fully moved in!
    Hopefully I keep this updated and stick with it!
    Mortgage Debt £67,195 as of 31st August
    Help to Buy Equity Loan Debt £26,799
    Total Debt: £93,994 of £133,995 two bed house
Page 1
    • bexster1975
    • By bexster1975 1st Sep 16, 2:15 PM
    • 835 Posts
    • 4,351 Thanks
    bexster1975
    • #2
    • 1st Sep 16, 2:15 PM
    • #2
    • 1st Sep 16, 2:15 PM
    Congratulations. Very good luck with your bid for mortgage freedom

    Bexster
    • dark^knight
    • By dark^knight 1st Sep 16, 2:58 PM
    • 415 Posts
    • 797 Thanks
    dark^knight
    • #3
    • 1st Sep 16, 2:58 PM
    • #3
    • 1st Sep 16, 2:58 PM
    Hello and welcome...congrats on marriage and new house...good luck with the mortgage free quest...we're all kindred spirits here
    Aiming to be mortgage free by Dec 2018.
    • lcfcstephen
    • By lcfcstephen 5th Sep 16, 9:30 AM
    • 45 Posts
    • 28 Thanks
    lcfcstephen
    • #4
    • 5th Sep 16, 9:30 AM
    • #4
    • 5th Sep 16, 9:30 AM
    So this weekend has been a bit manic. But we have moved in and spent our first night in our new house! We have managed to move everything over minus a bookcase and our bikes, and are hoping to get them done this week. LW's family came on the Sunday to help (friends have been helping too) but they helped move some more heavy stuff, but up some curtains and other things, as well as bringing a table. So we now can use a solid table rather than a camping one! Still on camping chairs, and a blow up bed (bed will arrive on the 19th)
    I'm in the process of changing my address, council won't let me do it online for some reason, water is done, Energy don't want to put be back on an old (MSE collective) tariff, so arguing my case and hoping I can, if not not soon till the new tariff! Our Wifi provider has been useless (they were for our previous house move too) I requested that they didn't turn off Wifi at our old property till we had wifi at the new one, and was told that we should have wifi in the new one by the end of this week. Since then Wifi has been turned off at the old property (will take a week to come back on) and I've been told that an update will come at the end of this week, not wifi. It's ridiculous.
    Apart from that it's been a great, though exhausting weekend and I also managed to set up my overpayments with my mortgage provider, so thats all sorted
    Mortgage Debt £67,195 as of 31st August
    Help to Buy Equity Loan Debt £26,799
    Total Debt: £93,994 of £133,995 two bed house
    • lcfcstephen
    • By lcfcstephen 5th Sep 16, 12:49 PM
    • 45 Posts
    • 28 Thanks
    lcfcstephen
    • #5
    • 5th Sep 16, 12:49 PM
    • #5
    • 5th Sep 16, 12:49 PM
    It's difficult being back in work today after taking a long weekend to move stuff into the house. It's crazy how much stuff there is and just boxes everywhere! Hoping to finally getting some of these unpacked and sorted soon, It's so tiring!
    Washing Machine comes today!
    Also forgot to mention that we still are on the lease for renting the flat that we had until November. Fortunately I've budgeted that in my spending so leaving some of it, plus the emergency fund, means we should be able to get some more furniture shortly!
    It's so difficult changing addresses because no one can find it because it's a new build! Oh well, getting there, despite all the stress and tiredness!
    Mortgage Debt £67,195 as of 31st August
    Help to Buy Equity Loan Debt £26,799
    Total Debt: £93,994 of £133,995 two bed house
    • lcfcstephen
    • By lcfcstephen 6th Sep 16, 9:11 AM
    • 45 Posts
    • 28 Thanks
    lcfcstephen
    • #6
    • 6th Sep 16, 9:11 AM
    • #6
    • 6th Sep 16, 9:11 AM
    The washing machine arrived yesterday after half an hour of trying to get the delivery people to be able to find the house! (Apparently I can request that royal mail update their systems and that might help - but don't think it will as it won't update sat nav type things) Hoping that the builders will fit it today - they said they would, but no idea when. Still waiting for a water butt which we mentioned at our home demonstration two weeks ago.
    The Energy company have decided that I was right and I can have my tariff, but put me on the standard tariff and will change it, council is almost sorted, and we should hopefully get some outside bins from them in the next week!
    The house is still a bomb site and we have barely tidied anything away. Hoping to do a food shop today and we're alsoaway to a couple of home shops to get some storage for the bathrooms after work. This moving home thing costs a lot!
    Mortgage Debt £67,195 as of 31st August
    Help to Buy Equity Loan Debt £26,799
    Total Debt: £93,994 of £133,995 two bed house
    • evansc1
    • By evansc1 6th Sep 16, 10:12 AM
    • 122 Posts
    • 108 Thanks
    evansc1
    • #7
    • 6th Sep 16, 10:12 AM
    • #7
    • 6th Sep 16, 10:12 AM
    Hi Stephen! Congrats on the marriage and completion - sounds like you are beginning to settle in

    Completed a couple weeks before you so very much on the same track here! Will be following to see how your'e getting on
    Mortgage - £125,309.63 Sept 2016-Jan 2017 OP target £1,400/£1,550
    • lcfcstephen
    • By lcfcstephen 6th Sep 16, 12:29 PM
    • 45 Posts
    • 28 Thanks
    lcfcstephen
    • #8
    • 6th Sep 16, 12:29 PM
    • #8
    • 6th Sep 16, 12:29 PM
    Hi Evan,
    Yeah, starting to. Feels like home - it's just that stuff is everywhere! Hoping that we find good cheap furniture solutions when we get to it. It's a starter home, but because we've been renting we don't have anything of our own! Will nbe nice to fill it. Enjoyed looking at your diary, interested in the matched betting, might look into that further
    Mortgage Debt £67,195 as of 31st August
    Help to Buy Equity Loan Debt £26,799
    Total Debt: £93,994 of £133,995 two bed house
    • lcfcstephen
    • By lcfcstephen 7th Sep 16, 2:08 PM
    • 45 Posts
    • 28 Thanks
    lcfcstephen
    • #9
    • 7th Sep 16, 2:08 PM
    • #9
    • 7th Sep 16, 2:08 PM
    Yesterday LW and I went to a few home places and picked up a few things, but unfortunately it turned into a bit of an ideas shop rather than an actual shop. It has given us several ideas of what we might want to do, but next time we go we need to have measurements of every bit of the house that could be used for furniture! The other issue was that we are prioritising a sofa over anything else, which we will probably end up buying soon. We also bought a drill - over the last week we've greatly increased our DIY potential!
    Some bad news on the flat that we still have tenancy at, we have slightly over two months left at £450 (but just two payments) and they want us to pay £350 to advertise the property and theres still the chance that it might not be let out - they've said it often takes a while and when we moved in it seemed like it hadn't been lived in for a while. I don't think it's worth paying that money when there's the risk that we won't get any money back, and especially as I don't think we'd end up getting any more than a month back in rent.
    We have some friends that might be interested, so hoping that i can convince them to move as well as convincing the letting agents that I could do that as long as they were vetted, without them advertising the property. Fortunately it's all budgeted so the extra £900 isn't going to hurt, but I would have much preferred to use it on something else
    Mortgage Debt £67,195 as of 31st August
    Help to Buy Equity Loan Debt £26,799
    Total Debt: £93,994 of £133,995 two bed house
    • lcfcstephen
    • By lcfcstephen 8th Sep 16, 12:53 PM
    • 45 Posts
    • 28 Thanks
    lcfcstephen
    Last night we struggled to do anything productive, until we sat down to watch bake off with friends!
    The application form for feed in tariff for my solar panels has been sent off - already been thrown into difficulties with it though, they couldn't read some attachments.
    The post office now recognises my address and so it can be found in post code checker!
    Tonight we're having proper home made toad in the hold - hoping that it turns out well, its our first time!
    T-4 days till my first ever mortgage payment (and overpayment)
    Mortgage Debt £67,195 as of 31st August
    Help to Buy Equity Loan Debt £26,799
    Total Debt: £93,994 of £133,995 two bed house
    • lcfcstephen
    • By lcfcstephen 9th Sep 16, 11:49 AM
    • 45 Posts
    • 28 Thanks
    lcfcstephen
    Yesterday we spent a lot of money, I've said we're not going to look at how much we spend (as long as we stay sensible and above a certain threshold - until we don't pay for the flat) because we need the stuff we're buying. But its hard and goes completely against how I usually am! I'll get a lid on it soon ��
    Was told during the day that WiFi had come on! Only go find it that it hasn't and they'd made a mistake, was very sad about that!
    Today I've had a call to say they think there's a leak in the flat. Not looking forward to finding out what's happened.
    T-3 days till first mortgage payment
    Mortgage Debt £67,195 as of 31st August
    Help to Buy Equity Loan Debt £26,799
    Total Debt: £93,994 of £133,995 two bed house
    • lcfcstephen
    • By lcfcstephen 12th Sep 16, 9:49 AM
    • 45 Posts
    • 28 Thanks
    lcfcstephen
    This weekend was hard, and we didn't do anything around the house! We did however manage to cook a roast (with leftovers for lunch today!) which was amazing! The first mortgage payment should be going out today, and LW's favourite job will be being applied for today - hoping she gets it!
    Also going to be going to get a couple of cupboards and hopefully a shoe rack today - hoping the measurements work out and we can get them - and that they're cheap!
    Mortgage Debt £67,195 as of 31st August
    Help to Buy Equity Loan Debt £26,799
    Total Debt: £93,994 of £133,995 two bed house
    • lcfcstephen
    • By lcfcstephen 13th Sep 16, 10:01 AM
    • 45 Posts
    • 28 Thanks
    lcfcstephen
    Yesterday we went to get some furniture finally! Shoe rack for the hall way (was too tall so covers the light switch, but we've made do to make it work!) and we've also bought a storage thing for the bathroom as well as hooks and towel rails. Was all flat pack and so now need to put it all up!
    Also found out that we could do what we wanted with the flat, but that the couple we hoped might go in don't want to go in. So that plan is scuppered and we're still on the hook for the last two rental payments.
    First Mortgage Payment went out!
    Wanted to find out the balance, but it hadn't updated yesterday, hoping it will have updated today.
    Mortgage Debt £67,195 as of 31st August
    Help to Buy Equity Loan Debt £26,799
    Total Debt: £93,994 of £133,995 two bed house
    • lcfcstephen
    • By lcfcstephen 14th Sep 16, 12:39 PM
    • 45 Posts
    • 28 Thanks
    lcfcstephen
    Yesterday was supposed to be a productive day, but a trip to the tip (still no bins) and for WiFi (still no WiFi) and then to the shops turned out to be quite late, but we also got caught up in the flash floods in Manchester. I went down a main road and suddenly water enveloped the car, struggled to restart the engine, and when I did cars kept sending waves over the bonnet. Eventually got clear, but was very scary with all the rain and lightning! Still managed to eat and put a piece of bathroom furniture up! Tonight we will hopefully do most of the rest, including the TV aerial!
    Mortgage Debt £67,195 as of 31st August
    Help to Buy Equity Loan Debt £26,799
    Total Debt: £93,994 of £133,995 two bed house
    • lcfcstephen
    • By lcfcstephen 16th Sep 16, 12:46 PM
    • 45 Posts
    • 28 Thanks
    lcfcstephen
    The hall way and bathroom are basically done! We just have a few hooks to put up in the bathroom (the screws were just too long) but with both of these rooms I am happy to leave as is they are now (ish) until we decide to move out! Thats exciting news!
    Going to LW's family for the weekend because of a christening. Should be lots of fun, with lots of food, but we'll come back without the car as I was only insured to be able to move stuff to the new house.
    Mortgage Debt £67,195 as of 31st August
    Help to Buy Equity Loan Debt £26,799
    Total Debt: £93,994 of £133,995 two bed house
    • lcfcstephen
    • By lcfcstephen 20th Sep 16, 8:41 AM
    • 45 Posts
    • 28 Thanks
    lcfcstephen
    It's been a busy few days with the weekend at LW's family, and then back to work with a 'Disaster Recovery' Day - where we test to see if we could take on another sites work as well as ours. So shattered at the moment!
    Found out that we won't get Wifi until the middle of October, and that the cable for the aerial in the roof isn't properly connected - that should be being sorted out tomorrow. Not been a great couple of days for that sort of news! But LW has an interview today! Hoping it all goes well!
    Mortgage Debt £67,195 as of 31st August
    Help to Buy Equity Loan Debt £26,799
    Total Debt: £93,994 of £133,995 two bed house
    • lcfcstephen
    • By lcfcstephen 21st Sep 16, 1:26 PM
    • 45 Posts
    • 28 Thanks
    lcfcstephen
    LW had another interview today! Yesterday was with a recruitment agency, today was with a company, only a call centre job but at the moment we will take it, and it seems like it would be okay, apart from working every other weekend. She says the interview went well - we find out tomorrow, though she's hoping that another receptionist job that was suggested will turn out for the good.
    Done some more DIY - the bathroom is now done - hoping to get the downstairs bathroom towel rail, hooks on our bedroom door and curtains in the back bedroom done before the weekend - as my mother is coming to stay!
    We've spent quite a bit of money today as we are spending a weekend in London - tickets had already been bought to watch my American Football team and so we are now sorting out transport and accommodation. Accommodation will be cheaper than with a hotel - and we should hopefully be spending around £50 for train tickets - now just need to hope we don't spend too much whilst we're down there!
    Mortgage Debt £67,195 as of 31st August
    Help to Buy Equity Loan Debt £26,799
    Total Debt: £93,994 of £133,995 two bed house
    • lcfcstephen
    • By lcfcstephen 22nd Sep 16, 12:07 PM
    • 45 Posts
    • 28 Thanks
    lcfcstephen
    Finished all the DIY for the moment! (apart from a set of curtains) hoping that when LW gets a job we can start this back up again and start getting this house into a really nice state (it's nice at the moment!). Haven't found out yet if LW got the job yet, hoping to find out soon, so we will see what happens later in the day (hopefully!)
    The builders screwed me over by ignoring the regulations for solar panels meaning that we have to be on the lower rate for the Feed in Tariff because the solar panels were put on before the EPC certificate, not happy.
    Trying to decide if I should switch to the Collective October fix - comparison says it will cost me £36 more (but £30 cashback) and would mean that I'm fixed for longer. It's a hard call and I'm leaning towards going for it - as late as poossible!
    Mortgage Debt £67,195 as of 31st August
    Help to Buy Equity Loan Debt £26,799
    Total Debt: £93,994 of £133,995 two bed house
    • lcfcstephen
    • By lcfcstephen 26th Sep 16, 9:13 AM
    • 45 Posts
    • 28 Thanks
    lcfcstephen
    LW didn't get the job (she didn't want it, but both still sad about it).
    We did buy a sofa - for 55% off the retail price, so hoping that comes soon! Not much happened with the house this weekend apart from that. Second Mortgage Payment and Overpayment will be coming out soon though. Hopefully LW will be employed soon as that will really help us, especially with getting the house the way we want it
    Mortgage Debt £67,195 as of 31st August
    Help to Buy Equity Loan Debt £26,799
    Total Debt: £93,994 of £133,995 two bed house
    • newgirly
    • By newgirly 26th Sep 16, 9:31 AM
    • 5,081 Posts
    • 35,195 Thanks
    newgirly
    H Stephen, popping in to say a belated welcome and best of luck
    MFW 21
    Target for 2016 £30,000 \ £72,350.11 paid so far

    Mortgage £63,080 5 yrs 8 months left. Total owed £92,893.96. Fridge fund £0

    Weight loss 2016 - 17.25 lb lost 40lb target
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