Louba's MF Challenge

gallygirl

Crikey, at this rate you'll be in by Christmas!!!!

Good luck :T

hayley_jayne

Wow go you, you are on the home straight! :j

xxx

Louba

Oh dear haven't posted for ages!! We were away for Christmas staying with relatives with no internet access and it has taken the rest of the month to get back to normal with the snow and going back to work........

We should get the house keys at the start of March, yay! I'm not sure how much we'll be able to do in the way of over paying as we've decided to take the mortgage over 12 years - it saves a huge amount of interest but the monthly payments are high. Once we have moved and got the stuff we need the priority will be to build an emergency savings fund back up so that if I'm not working (at the moment I'm the key earner) then we can still pay for everything for at least three months. To do that will take a good chunk of the year though. I'm a bit of a worrier so I'd like the piece of mond of knowing that if I lose my job or if we decided to have a family then we'll still be comfortable

Louba

Og dear haven't posted for ages!! Got some lovely news, OH ask me to marry him at the weekend...........and I said yes! I'm totally over the moon, and not getting much work done today! No date in mind yet, need ot get looking at venues

We get the keys to the house a week on Friday so we've got loads to do. The new mortgage breaks donw like this: -
12 years @ 5.79 borrowing £225000 85% mortgage hence the rubbish rate.

Our deposit saving has gone really well and between us we've pulled together over £50k through clearing our savings, selling any shares and generally saving like mad since July. Fortuntaely our current overheads are pretty low which has helped alot.

Monthly payments are huge at around £2000 but we did this on purpose to have a shorter term. This is managable but we may have limited capacity to overpay - especially with a wedding coming up! As of April I will have no car loan which will be great, I've never owned a car outright, is it sad that I find this exciting? I still need to give some thought to my MF in 3 challange targets - have no idea what to aim for but don't want to give up on the idea of overpaying.

The fixed rate on y own flat is due up in April and when it switches to SVR it will be much cheaper. Still thinking about selling it but I'm worried about the hasstle when I don't live nearby and also how long it will take I also don't want to take on too much at one time........I'm very bad for doing that!


Lx

evab_2

Congratulations on your engagement and best wishes for your house move next week, very exciting times. Take some time to settle in before you decide about the flat.

Good luck x

SmlSave

ohhh, i'm soo excited for you!

Louba

Thank you ladies!! Haven't stopped smiling since he asked

HarveyGal

Congratulations to you and your OH on your engagement. Good luck with your move (and your payments...phew!)
Best wishes to you both.

setmefree2

Louba

Oh dear haven't posted in ages..........! Life has gone a bit made with the move and decorating, meeting friends and family to sahre the news, seeing wedding venues. eek!
On the finance front I think we're back on track I've just set up a regular OP on the mortgage of £500 a month, this is the maximum we can make which is a bit rubbish but it was the best deal we could get without a huge deposit and on a short timescale On the mortgage company projections this will take 4 years off the term and bring us down to 8 years!! yay!!
On the wedding.........we've been busy! We've booked the venue for March next year, reserved the florist and found a minister. I've got my dress - was very brave and ordered it from ebay..and it fits perfectly, oh and it is beautiful!
My sisters have found and bought their bridesmaids dresses - very simple but lovely.
We've decorated most of the house...........and now we're about ready for a break! Phew.
Lx