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    • michelle09
    • By michelle09 1st Jan 17, 4:24 PM
    • 303Posts
    • 1,008Thanks
    michelle09
    Plodding determinedly up a 300k mountain!
    • #1
    • 1st Jan 17, 4:24 PM
    Plodding determinedly up a 300k mountain! 1st Jan 17 at 4:24 PM
    Hi everyone! I have another thread on here but it is seriously out of date, so I figured I will start afresh. New year, new targets and all that.

    OH and I completed on our first house in May 2016. We had a sizeable deposit due to my ability to save and OH's inheritance. We could have afforded a decent flat but decided to buy a slightly rundown 3 bed end of terraced house and do it up while living in it. This seemed like a much better idea before we were living somewhere with a smashed in door, no hot water and only lighting in part of the house. So far we have plunged 20k into repairs (which sounds like a lot, but the doors, windows, bathroom, cloakroom, boiler, radiators, some of the wiring and floors are brand new). It's certainly been a character building experience, from turning up after completion to finding the old owner still living here, to getting the first batch of wiring fixed and discovering that every lightswitch in the house now turned on the kitchen light, but we are getting there slowly.

    The basic floorplan of the house we love, so once we are finished doing it up it will be brilliant. It's also in a great location, we are in London - hence the obscene price - but we are two minutes from the underground, can be in zone 1 in fifteen minutes from our front door, but can also be on the motorway out of London in the same time by car.

    We are now seeing the light at the end of the repairs, so in 2017 I want to start making a serious dent in our mortgage. I have taken on a second job and we have two friends renting our spare rooms - at mates rates - so it is a good time to start reducing the crazy interest rates!

    Figures -
    House Price: £440,000 *gulps*
    Mortgage: £259,700.00
    Student Loan: £19,103.29
    Repairs Estimate: £20k
    Monthly Mortgage Repayment: £940.87. 1.74% interest, lifetime tracker.


    I know that students loans are not a problem debt, but our aim is to try and clear the whole lot by the time OH is 40. Which gives us 13 years. This might be too much of a reach, but I would rather aim high and fall slightly low than not push. Though I may be relying on OH's lottery tickets actually paying off!

    Going to check out other diaries too, hopefully the support here will help.
    Last edited by michelle09; 01-01-2017 at 4:37 PM.
Page 5
    • michelle09
    • By michelle09 8th Oct 17, 6:07 PM
    • 303 Posts
    • 1,008 Thanks
    michelle09
    Back to the real world with a bump it seems. Work has been crazy busy so I ended up agreeing to an extra 10 hour shift as OT. Which at least means next month's payslip should look quite nice.

    Job #2 had it's up and downs. I lost one student because their school has started putting on extra tuition sessions, but an old student has come back asking for more sessions that fills the gap. So it's not all bad.

    It's our wedding anniversary next week and both OH and I are off so we went to M&S this morning and bought some fancy food courtesy of the gift voucher M&S sent after we complained to them a few weeks ago. Would rather have not spent 90 minutes on the phone to customer service with the problem in the first place, but might as well make use of it when it arrived!

    Got our last payment from lodger #2 so put £100 OP on the mortgage.

    Our monthly mortgage/bills payment on current direct debits is now £1301.24 so I am looking at ways to knock that down. Mostly to get it under £1300!

    Current Balance: £248,900.00
    Kitchen Savings: £6,500/£13,000
    • beanielou
    • By beanielou 8th Oct 17, 7:06 PM
    • 47,744 Posts
    • 173,255 Thanks
    beanielou
    Good news on the mortgage OP.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 2 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.*** ***Keep plodding***
    • Karmacat
    • By Karmacat 10th Oct 17, 12:20 PM
    • 27,854 Posts
    • 152,649 Thanks
    Karmacat
    Going really well! Have a lovely wedding anniversary - I'm doing the same "fancy food from M&S" thing (or cook.net, actually) for my sister's birthday later this month, for three of us.
    Retired August 2016
    • michelle09
    • By michelle09 10th Oct 17, 6:10 PM
    • 303 Posts
    • 1,008 Thanks
    michelle09
    Thanks Beanie! Thanks KC, it's been a lovely day of doing very little. Mostly watching TV and playing board games.

    Current Balance: £248,900.00
    Kitchen Savings: £6,500/£13,000
    • michelle09
    • By michelle09 14th Oct 17, 5:46 PM
    • 303 Posts
    • 1,008 Thanks
    michelle09
    Accounts finally closed with British Gas. Depite the £23/month increase that they insisted on two months ago because we were on track to be in debit at the beginning of October - they just had to pay out £76 of credit.... oh well, at least it's some extra money!

    Did a small clearout with musicmagpie and webuybooks and had £44 come through in four days of posting them off, so happy with that.

    It's my grandmother's birthday this week, her first since my grandfather died. When she moved, I found her wedding photo. The frame was broken and the backing was mouldy, so I 'borrowed' it and got it reframed and will give it back to her as a gift tomorrow when we go for lunch.

    Current Balance: £248,900.00
    Kitchen Savings: £6,500/£13,000
    • smallholdingsister
    • By smallholdingsister 14th Oct 17, 6:19 PM
    • 3,395 Posts
    • 26,479 Thanks
    smallholdingsister
    That sounds like a lovely present.
    • michelle09
    • By michelle09 14th Oct 17, 6:31 PM
    • 303 Posts
    • 1,008 Thanks
    michelle09
    Thanks! I hope she likes it. It's hard to surprise a woman of 89 and she's not really interesting in collecting things, and we are taking her for lunch (with my parents and brother) but I wanted to have something physical to give her as well. This seemed like a good compromise. And she only has one copy of this photo - they got married in 1951 - so I want to make sure it's well preserved!
    • beanielou
    • By beanielou 14th Oct 17, 7:38 PM
    • 47,744 Posts
    • 173,255 Thanks
    beanielou
    What a lovely present.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 2 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.*** ***Keep plodding***
    • CathT
    • By CathT 15th Oct 17, 9:17 AM
    • 5,311 Posts
    • 36,480 Thanks
    CathT
    Holiday sounds fab and you came home to an empty house. Hope you're both still feeling relaxed and in your holiday bubble. Amazing savings too, that £2k would be a fab overpayment once the repairs are done.
    August 2017 -
    part 1 - £79,967
    part 2 - £46,351
    Total - £126,318
    • michelle09
    • By michelle09 17th Oct 17, 8:45 PM
    • 303 Posts
    • 1,008 Thanks
    michelle09
    Thanks guys! It was awesome to come home to an empty house. The holiday bubble is over, but we still have the £300 Eurostar vouchers so are trying to juggle a few days at the Christmas markets somewhere. Advantage of shift work means we can go during the week.

    Picked up another potential longterm student today which is good. Hope that it all goes well.

    So tired this week, could do with a nice week at work, but somehow I doubt that's going to happen.

    Current Balance: £248,900.00
    Kitchen Savings: £6,500/£13,000
    • Karmacat
    • By Karmacat 19th Oct 17, 2:36 PM
    • 27,854 Posts
    • 152,649 Thanks
    Karmacat
    That sounds a lovely present, Michelle - and, erm, speaking as an amateur genealogist, I hope you scanned the photo at high res when it was in your custody?
    Retired August 2016
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