Advice for a newbie needed please!

LilyBart

Jen, Phil, Peachy, Waspeze, apologies for muddling this! Next time your drains get blocked, I will happily come over and stick my arm down for you. I clearly have more talent for drain-cleaning than accountancy!
Lily

jmach

Lily - please dont apologise, if anything its making me understand the process a lot better - when i first started i was totally clueless!

Thanks for the offer by the way:p

Jenny

peachyprice

LilyBart wrote: »

Jen, Phil, Peachy, Waspeze, apologies for muddling this! Next time your drains get blocked, I will happily come over and stick my arm down for you. I clearly have more talent for drain-cleaning than accountancy!
Lily

I'll hold you to that Lily:D

Waspeze

Lily .. don't feel you have to apologise.. you were trying to help!! .. And too be fair I don't really have more "experience" of this as i'm single and went BR on my own so my knowledge of SoA's with regards to couples is limited to what i've read on here

philnicandamy

peachyprice wrote: »

I'll hold you to that Lily:D

Me too......and you really really wouldnt want to see what goes down our drains :eek:

although I do have to agree with everyone else.....no need to apologise you have as much experiance as anyone else what you've gone through no matter how small WILL help someone else on the road to BR

I'll stop whittering now....;)

mickey66_2

hi jmach been reading your thread and we're in more or less the same situation and on the same timescale! just a note about the renting,we have just secured a property with an estate agent,i was upfront with them,they asked if i had CCJs which i dont, just said my credit score was really poor(checked it myself on Equifax) and i had some defaults,they said that wouldnt be a problem...and they were right!,i move in in about 5 weeks,gonna hand keys in to my now negative equity home,and all i have to pay is the deposit and 1 mths rent!!!,so dont despair.

the only thing im concerned about is the rent ill now be paying will be 995pm,hoping that wont be to high for when i go BR...but on the other hand at the mo im paying 930pm interest only!! on my mort plus 780 pm on a secured loan!! add to that 360pm for my DMP with the CCCS im left with absoulutely nothing from my monthly wage!,we live off my wifes wages,and that like yourself includes 300 to my mum in law to look after the kids!

like you im just at the start of all this but im feeling abit better already now ive rented a place,because it was worrying me

best of luck

mickey66_2

mickey66 wrote: »

hi jmach been reading your thread and we're in more or less the same situation and on the same timescale! just a note about the renting,we have just secured a property with an estate agent,i was upfront with them,they asked if i had CCJs which i dont, just said my credit score was really poor(checked it myself on Equifax) and i had some defaults,they said that wouldnt be a problem...and they were right!,i move in in about 5 weeks,gonna hand keys in to my now negative equity home,and all i have to pay is the deposit and 1 mths rent!!!,so dont despair.

the only thing im concerned about is the rent ill now be paying will be 995pm,hoping that wont be to high for when i go BR...but on the other hand at the mo im paying 930pm interest only!! on my mort plus 780 pm on a secured loan!! add to that 360pm for my DMP with the CCCS im left with absoulutely nothing from my monthly wage!,we live off my wifes wages,and that like yourself includes 300 to my mum in law to look after the kids!

like you im just at the start of all this but im feeling abit better already now ive rented a place,because it was worrying me

best of luck

just a note to some things above,theres 5 in my family,2 adults 3 kids,we've stopped paying mort/secured loan and DMP on advice of cccs and we're moving from SE London,where 995 pm rent would have got me a rabbit hutch to Kent

jmach

Hi Micky66

Thank goodness - someone in a similar position to us!, im really pleased to hear about the renting situation for you - we are going to the EA today to start the credit checks - exactly the same as you - no CCJ's but we do have defaults - and we do have a guarantor if needed - so i really hope we get it but i just darent think any further until we get an answer.

I think with regards to your rent, as long as its in keeping with the area, and your'e not renting a mansion you should be OK!
We currently pay £458.00 interest only for the mortgage and rent will be £550.00 but most houses around here are at least £500 for 3 bed - just think if you were on repayment mortgage it would be a lot more!

Like you i will feel much better if we get into rented.

Thanks for posting, its great having somebody in a similar position - i know it sounds strange but its a lonely position to be in sometimes when you dont know whats ahead, it would be nice to keep in touch and let me know how you're getting on

Jen

Waspeze

mickey66 wrote: »

the only thing im concerned about is the rent ill now be paying will be 995pm,hoping that wont be to high for when i go BR

Can't see that being too high for a family of five

I pay £625 in brighton for a one bedroomed flat so add a few rooms on and £995 would seem pretty reasonable!

mickey66_2

Waspeze wrote: »

Can't see that being too high for a family of five

I pay £625 in brighton for a one bedroomed flat so add a few rooms on and £995 would seem pretty reasonable!

yep mine dont sound so bad now!;)
i mean at the mo im paying out 1710 on mort an secured loan so in theory ill be savin nearly 700 quid!!!