I want to be a MFW........ LP's Diary

gallygirl

Do you mean cold press? Even so, what is it? And did you like the house

LilacPixie

yeah a cold press, duh!! My typing getting worse. It's like a cupboard thing agains an exterior stone wall, they used to geep butter and meat etc in them to keep cool.

House was nice to a certain extent, large rooms, high ceillings slightly strange layout as only bathroom is on ground floor, I guess at time of building it was outside toilet only. Every room is dated to a point beyond retro, it really would be a project but would be no need to move again ever.

LilacPixie

Oh it's been a strange few days. We went to view another house in our projected price range. This one was out at Wellbank which is a little villiage about 2-3 miles outside Dundee. Similar style and size to the house we viewed earlier this week but everything was done on it. To go for it we need to raise 13k which will not be easy unless we can sell this pretty quickly.

So readers, any ideas on how to raise 13k?

Iris_Blue

If only I knew! :rotfl: Have you come up with anyway to raise the money yet?

The house sounds good. It's annoying seeing one when you've not sold you're own though isn't it?

LilacPixie

It is very annoying Iris. The actual villiage is quite small so 3+ bedroomed houses don't come up all that often. I can only hope that it doesn't go too quick and we find a buyer soon. I am considering changing price from offers over to fixed.

Deposit requirments mean we can't really drop this price that much as we need every penny to get the LTV deal we want. We need to have somewhere between 13 and 20k from savings and the sale of this place after costs. Quite a scary figure actually and one that would only be acheived by getting near top for this or having made a larger dent in the mortgage/more savings.

Spoke to mortgage guy today and he says the actual borrowing is not a problem on our wages but the term we hoped for might be, 20 years due to affordability. He thinks we should do a 2 year fix 25 year term then when that is up in years OH debt will all but be gone and we could switch to an offset or current account mortgage with a much shorter term then.

I have some mini lets raise 13k ideas.

1. Start MSing again for the pizza hut assignments saving the £20 a month on family pizza treat
2. Get over to oldstyle and join the grocery challenges
3. Start baking more again, cheaper than buying junk food
4. Get spends in order
5. Transfer a lump to savings/mortgage on pay day, if we don't have the cash we can't spend it
6. Get some bits on ebay over the weekend at 99p starts
7. clicks and daily surveys, maybe worth a little extra
8. ditto for surveys, vouchers to reduce gift costs
9. matched betting, just do it.
10. Set a monthly savings goal/challenge
11. get what we need for baby as cheap as possible, same for DD2 winter clothes and DD1 + DD2 winter boots.
12. Remember to shift money around our reward accounts for the £5 a month 'reward'
13. Consider moving current account from santander if a financial incentive is offered.

Ok so I know i'm not going to raise the magical amount of 13k doing the above but every penny counts after all.

My mortgage rate tracks the LIBOR and is now 3.34%. I need to investigate if we could get a regular saver that earn more net interest and if so consider saving rather than overpaying.

Iris_Blue

You're right it all helps.

The way I look at it is...If it's meant to be it's meant to be and you'll find a way. If it's not then that wasn't the right house for you.

Sorry I know it's not helpful to say that when you want something so much but I find that it's true for me.

LilacPixie

OH has fallen in love with the house so for the first time like ever he is actually 100% on board rather than just either agreeing or being dragged along like a petulant teenager.

hoobydoobydoo

Hello LP - just read your whole diary and I am impressed with your attitude. Lots of others would have given up ages ago, but you've found the strength to carry on.

I know what you mean about the whole MF idea being addictive. I'm doing the MFiT-T2, but only to clear a further advance we took out to have the loft converted and I'm really excited that the balance is now below £10k. I really hope that we can clear it by the end of next year and then start on the main mortgage.

Did you manage to clear out the storage unit? How much stuff have you managed to sell on ebay? I've got some bits and pieces lying around that I never quite seem to get around to listing, but at this time of year I could really use the money for Christmas stuff.

Good luck with the house sale.
Hooby

P.S. love the signature!

LilacPixie

Hooby - not managed it yet. We went there last week to survey what was there, alot of stuff is not needed often but is needed like reference materials tax guides for specific tax years etc. Far too expensive to replace them at a later date and you never quite know when they will be needed, other stuff is bits and pieces of toiletries, we ripped out the bathroom here a year ago and boxed up all the not used before things i had stockpiles like toothpaste, monthwash and shampoos etc, just the usual on BOGOF things plus giftsets for christmas etc. there is lots of kids toys, specifically happyland/littlepeople and other bits i picked up in the sales in January for this years gifts. We plan to sort out lots of bits and peices in this place then empty the unit box by box being ruthless and keeping whats needed. donating alot to charity as we have stopped monetery donations and then ebaying what is worth selling.

DD1 i used cloth nappies, when i was pregnant with DD2 I bought some more to up my stock but before DD2 arrived DD1 potty trained so the new nappies just stayed in a cupboard in their boxes. I have over 6 sitting in a crate with the interntion of putting on ebay but haven yet. DD2 is now pretty much dry and is so aware of her wee that there is no way that come February she will still be in nappies so i should just sell the unused/uopened ones.

LilacPixie

OMG just rebone the budget using figures we realistically think we could do and stick to. :eek::eek::eek: Scary scary reading.

Want to see?

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 1450
Partners monthly income after tax....... 1500
Benefits................................ 447
Other income............................ 0
Total monthly income.................... 3397
Monthly Expense Details
Mortgage................................ 405
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 107
Electricity............................. 30
Gas..................................... 38
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 10
Mobile phone............................ 55
TV Licence.............................. 13
Satellite/Cable TV...................... 24
Internet Services....................... 10
Groceries etc. ......................... 250
Clothing................................ 0
Petrol/diesel........................... 180
Road tax................................ 20
Car Insurance........................... 45
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 10
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 12
Contents insurance...................... 10
Life assurance ......................... 17
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 5
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 50
Total monthly expenses.................. 1351

Assets
Cash.................................... 0
House value (Gross)..................... 68000
Shares and bonds........................ 0
Car(s).................................. 6000
Other assets............................ 0
Total Assets............................ 74000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 50000....(405)......3.36
Total secured & HP debts...... 50000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Zopa loan......................9000......476.......12.4
GE loan........................8000......147.......12.4
RBS card.......................1400......28........0
Next...........................584.......60........26.5
Total unsecured debts..........18984.....711.......-

Monthly Budget Summary
Total monthly income.................... 3,397
Expenses (including HP & secured debts). 1,351
Available for debt repayments........... 2,046
Monthly UNsecured debt repayments....... 711
Amount left after debt repayments....... 1,335
Personal Balance Sheet Summary
Total assets (things you own)........... 74,000
Total HP & Secured debt................. -50,000
Total Unsecured debt.................... -18,984
Net Assets.............................. 5,016
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

I am sure i must of missed something.