single parent with new £70,000 mort to pay off pdq!

gentlepurr

hi again all!

an update.

i finally went ahead with the transfer of equity on the house to my sole name on 31st March. However, due to the usual complications up the chain, oh did not move out until last friday, 21st april. have spent the last few months squirrelling every penny i could into an account to start making the initial inroads into my new mortgage, the result of which is:

31st march new mortgage £70,524 (interest only mort)
25th april overpayment £3585

outstanding balance £66,939.

i feel so much better already, seeing my mortgage start with a 6, instead of a 7!

btw, i have to make overpayments of at least £500 before a&l will recalculate the interest payments, so i'm planning to only pay the required amount on a month to month basis, but saving all the extra cash in a building soc 90day notice a/c, and keeping a permanent "notice of intention to withdraw" on it, so now saving madly to pay another chunk off by the end of july, hopefully another four figure sum.

i don't have a mortgage pig as such,(too much junk in the house already, and can't make myself part with any cash for such a frivolity, even 2 or 3 quid is 2 or 3 extra t shirts for my holiday:rotfl: ) but i do have a box hidden away that all my spare change goes into, - surprising how it soon mounts up!

well, onwards, and upwards - or should i say downwards:D

xx

Rikki

Well Done gentlepurr.

Its nice to get feedback on how things are progressing. Keep it up your doing really well.

jue

Hello Gentlepur, well done on your achievement. You have done fantastic so far.
Wishing you luck with your new life, what a level headed mum.

MushyPeas

Great thread gentlepur, good luck with your overpayments . Do keep us up to date.

MP

Queenie

gentlepurr - just wanted to add my "Well Done" :T :T :T You are very clearly focused and an inspiration to others with your thread! Keep up the good work. :T :T :T

moggins

I wanted to add my well done too, you obviously have a very good head on your shoulders.

I agree that £50 a week maintenance is fair, I get £45 a week for my 12 year old son on agreement with his dad, because we get on so well and I haven't pushed him for more money XDH is always willing to chip in with buying school shoes, trainers and paying half towards any school trips or scout camps. I think that maintaining a good relationship with your ex far outweighs anything that money could buy, even though I am remarried XDH still comes over to sort out any plumbing problems, helps with the garden (all things that current DH hates doing) etc. In the last two weeks he's presented me with 6 gooseberry bushes, 3 raspberry canes and an armful of rhubarb. Come the autumn he will constantly turn up on the doorstep with fresh veg from his allotment and after a trip to Belgium he came back with a huge case of beer for DH, what more can I say?

gentlepurr

wish the thank you button would come back!

thanks all!

moggins, i agree totally about keeping a good relationship with the ex, just hope mine turns out to be like your ex, he's making the right noises, but the proof of the pudding is in the eating, so they say!

thanks all, felt a bit silly, updating my thread, as if i was looking for praise, but it does help to see how well we are all doing, and what problems/ideas we encounter along the way!

luv gentlepurr xxx

Queenie

gentlepurr wrote:

...
thanks all, felt a bit silly, updating my thread, as if i was looking for praise ...

On the contrary, I think its a brilliant thread and the updates will be inspirational to readers who may well read your progress and feel motivated in their own lives.

As for the praise - you deserve it!!! It's no mean feat!! :T :T

moggins - what a wonderful example of being a "grown-up" your X is; that is fantastic!! Well done to you, your X and your DH too, on working things out in such a mature and workable manner. :T

gentlepurr

just an update.

have contacted council tax, they say backlog of 2/3 months for them to adjust my payments, and i have to keep paying the higher amount in the meantime.

have also contacted child tax credits, who have stopped my payments altogether with immediate effect, while they send new forms out to me, they say approx 8/10 weeks for them to sort my new payments out, meanwhile, i have to go without.

all of the above is really annoying me, its just a good job i am prudent enough to be able to exist on half of the household income i am used to, whilst still paying full whack for council tax, and having no tax credit for my child. had to buy him new school shoes this week, and he desperately needs (not wants) new trainers next week. am i supposed to use buttons to keep clothes on a growing teenagers back? it makes my blood boil, feel like i'm being penalised for trying to do the right thing. i know it will all sort out in the end, but its at the beginning when you need all the support you can get, financial or otherwise.

grouse over.

intended to pay my c/c off when i got the new mortgage, but as c/c is 0% for 9 months, decided to stooze the money in a higher interest a/c instead. have also decided to keep the 0% loan (dfs!) of £47.59, as the money will be better utilised paying some more towards the mortgage, which isn't interest free!

decided to keep a log of out goings each week, so i can see where the money is going. £100 spent this week.

£25.00 new leather school shoes.
£15.00 to put to dfs loan payment.
£10.00 ds sax lesson
£18.50 visit twycross zoo, bank holiday treat
£6.60 school dinner money
£3.40 treated ds fish and chips!
£21.50 groceries.

i know i could have got cheaper leather shoes, but anyone who's ever tried dragging a teenager round town to try shoes on :eek: would agree you can only go so far. they were wranglers too, which were £40 in another shop, so don't feel robbed.

also felt that ds deserved a day out after all he's been through the last couple of weeks, the zoo was his suggestion, so i took him and his friend. we all had a ball, money well spent.

had a good shop in tesco's for my £21, stocked up on lots of stuff, and the kind checkout guy let me use £13.40 of somerfield vouchers:D , so feeling pretty chuffed with myself. (new somerfield mag out this week, so stocked up on some more vouchers ready for next weeks shop;) )

so, feeling like its all going ok so far, a balance of having a life, and having a mortgage free goal.:D

xx

mdeebee

Well done!