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  • FIRST POST
    • Moominmamma89
    • By Moominmamma89 1st Sep 16, 8:58 PM
    • 199Posts
    • 337Thanks
    Moominmamma89
    Baby steps towards mortgage freedom
    • #1
    • 1st Sep 16, 8:58 PM
    Baby steps towards mortgage freedom 1st Sep 16 at 8:58 PM
    Hello Everyone

    After lurking for around the last two years and being inspired by so many other diaries I thought it was about time to start my own.

    Me and DH are both 27 and this is the fourth house we have lived in - in fact it was the only one we ever had to re-mortgage as we managed to stay put until the initial fix came to an end! We currently have a little boy (5 yrs) and a little girl who arrived 10 weeks ago.

    Our house is a three bed Victorian terrace which we brought for £170k in 2014 on a 95% mortgage. We re-mortgaged in June this year at 80% with a 2.99% interest rate and fixed for 5 years - the house was revalued at £192k as we had put the original third bedroom back by taking out an en-suite.

    Our long term aim is to be mortgage free by the time we are 40 and if we stay in this house I think it will be just about possible, however it sometimes feels a little small and we would like another baby in the future so I doubt this will be our forever home. So in the short term we are aiming to have the mortgage down to 60% LTV for when the current fix ends in June 2021 which is around £115,200.

    To reach our target I have worked out that we need to be making over payments of around £250 a month which so far we have managed but I think this may become trickier once my maternity pay tails off.

    I am hoping having a diary and de-lurking will help keep me motivated.
    Last edited by Moominmamma89; 11-01-2017 at 4:21 PM.
Page 11
    • Florence J
    • By Florence J 10th Oct 17, 6:50 AM
    • 1,602 Posts
    • 9,077 Thanks
    Florence J
    Such a great achievement on your mortgage, well done!

    Have a drink on me.

    Sealed Pot Challenge 10 #553 (£90) Wombling free 2017 = £1623.56 Pay off all your debts by Xmas 2017 #53 (£2953.21/£3000) Debt to OH paid back £1120.95/£1120.95
    October 2017 Credit Card Debt: £4163.86
    • ch4rly2002
    • By ch4rly2002 10th Oct 17, 11:05 AM
    • 228 Posts
    • 973 Thanks
    ch4rly2002
    Fantastic news on the offer...and first time buyers to boot! That really is great. Keeping fingers crossed that it all goes smoothly and will be sorted quickly for you guys It's fab that Mr Moomin is helping with fleabay... I might have to enroll the help of my DH rather than it being all on me
    Savings: Aim £13.5k. Dec 2016 £1,700 / Current £10,850
    Mortgage: Dec 2014 -£216,000 / Current -£195,420
    BTL Mortgage: Dec 2014 -£136,000/ Current -£124,790
    CC 0%: Nov 2016 -£4,500 / Current -£3,506.43
    Loan to In-Laws: Sep 2010 -£48,185.82 / Current -£35,655.49
    Student Loan: March 2011 -£18,275.04 / 29th April 2017 -£14,003.85
    • Moominmamma89
    • By Moominmamma89 10th Oct 17, 8:12 PM
    • 199 Posts
    • 337 Thanks
    Moominmamma89
    Thank you both - I have everything crossed it will all go through smoothly this time, I don't even want to think about having to do anymore viewings.

    Ah yes Ch4rly I just find it so hard to motivate myself so hoping between us we can shift some of our junk as I don't fancy taking it with us.

    I am upto £21 on YouGov but my god it's been a bit of a slog. I will push on to £50 but don't think I will continue afterwards. We will possibly make one more OP but not sure atm, I will keep updating - hopefully with fleabay progress!

    Wish me luck
    Outstanding Mortgage - 139,880.15 (73% LTV)
    Current end date: January 2041 (originally August 2044)
    • ch4rly2002
    • By ch4rly2002 11th Oct 17, 11:50 AM
    • 228 Posts
    • 973 Thanks
    ch4rly2002
    Good luck
    Savings: Aim £13.5k. Dec 2016 £1,700 / Current £10,850
    Mortgage: Dec 2014 -£216,000 / Current -£195,420
    BTL Mortgage: Dec 2014 -£136,000/ Current -£124,790
    CC 0%: Nov 2016 -£4,500 / Current -£3,506.43
    Loan to In-Laws: Sep 2010 -£48,185.82 / Current -£35,655.49
    Student Loan: March 2011 -£18,275.04 / 29th April 2017 -£14,003.85
    • Moominmamma89
    • By Moominmamma89 18th Oct 17, 8:14 PM
    • 199 Posts
    • 337 Thanks
    Moominmamma89
    No posting has yet been done on Fleabay - betting none of you are surprised . TBF to me I seem to have caught the lurgy from a colleague and my head has been thumping. Not helped by the fact it is half term but we managed a walk today and Munchkin spent ages oohing and ahhing over all the Halloween decorations in Mr T before I dragged him round the aisle to ooh and ahh at the Christmas ones .

    Surveyor for our buyer is coming Monday so fingers crossed it goes well and solicitors are saying completion by end of November may be possible which means Christmas in the new house.

    Hope everyone is having a good week x
    Outstanding Mortgage - 139,880.15 (73% LTV)
    Current end date: January 2041 (originally August 2044)
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