Baby steps to being mortgage free

Baby_steps_2

Well, I've had a nice hour catching up on everyone’s diaries having been AWOL for the last month or so.
Long story short me and other half are splitting up :eek: This therefore means there is a house to sort out which is currently in negative equity (I know massive mess!!).

Thinking we have finally sorted out the problem, we are going to transfer the mortgage to interest only (not ideal I know), but as neither of us is willing to buy the other out (read here pay to leave!!) and it seems silly to sell with the loss when the market may pick up in the future. neither of us are in a position to buy elsewhere so this seems the best solution in the short term. As long as interest rates stay low:eek:

As of August we transferred onto the SVR so we will remain on this (but transferred to interest only). I am going to keep the house with the idea of buying him out/selling at some un defined point in the future.

This will mean I stop overpaying, however I am aiming to save instead. I have a few bits and pieces to buy for the house to replace furniture he will be taking with him, as well as doing a few bits to the house to make it feel like mine!! So an expensive couple of months ahead. However will be following all MSE tips to ensure I get the best deals etc. Therefore the current figures are a bit up in the air about where I stand financially at the minute.

Fell rubbish about the whole situation but know its for the best. Will report back with figures once I have everything sorted. Hope everyone else is doing well.


p.s whats all this about Lewis lane??!!! (go away for a month and you can’t keep up!!)

SmlSave

Awww, baby steps ((hug)) sorry about your break-up.

Sounds like you've got an action plan in gear though so it's save, save, save!

Lewis Lane is our new home Feel free to pop in and see us, you have to have a good tolerance for 80's music though.

mummyofonechild

Sorry to hear your news, come and join us on Lewis Lane.

Thats if you dont mind being rolled under a sofa, and then there's Linford Christies lunchbox

Can we have a be nice to mummy day soon please

Baby_steps_2

A mummys day soon sounds lovely, lewis lane here I come!!

InaPickle

Sorry to hear you are breaking up with OH, Baby Steps. I hope things go as smoothly as they can, all things considered.

Keep us up-to-date and take care of yourself. x

Baby_steps_2

Well thanks to everyone being lovely. Although I'm a little stressed about getting everything sorted I feel much more positive now I am taking the steps I need to. I have an appointment on Tuesday with the mortgage provider to sort out transferring the mortgage to interst only and set up some kind of repayment vehicle alongside this to demonstarte that I willl be able to repay the mortage when it finishes (although will never get to this stage this is what they need to see).

I am currently staying with friends while (ex)OH looks for somewhere else to lives and should be home in the next couple of weeks. So hopefully, once I am back home and the mortgage situation has been resolved I will feel much happier.

Hope everyone is enjoying their weekends. If the weather would pick up it would mean I may be able to get a load of washing done.

mummyofonechild

It sounds like you have a sensible head on your shoulders. Once all your financial affairs are sorted things will probably seem clearer. Today I am having a non spending day but I do have the tumble dryer on :eek:

Baby_steps_2

mummyofonechild wrote: »

Today I am having a non spending day but I do have the tumble dryer on :eek:

I could do with one of those, single life is turning out to be very expensive. :eek: I think it's because I hate sitting home alone. Will have to cut down on the alcohol I'm drinking if I'm going to stay on track!!

I wouldn't worry to much about the tumble dryer, they may be expensive but we haven't exactly had washing drying weather recently:D

mummyofonechild

Its my one luxury with working F/T so I don't feel too guilty

Baby_steps_2

Yeah I think although I'm going to have to stick to a budget I'm going to have to accept my social life is going to be more expensive for a bit. I have to keep busy to keep my kind off things so if that means getting out and about I will just have to try and be sensible!!