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D'oh! Better get started... I wanna be Mortgage Free!!

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Comments

  • gallygirl
    gallygirl Posts: 17,240 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    mcculloch29 wrote: »
    X fingers Froggy, very much so. (Size FOURTEEN? I didn't think you were particularly tall, am I wrong? My DS is 6' 5'' and a size 12.)
    Froggy is the biggest frog I have ever seen :)
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
  • Alchemilla
    Alchemilla Posts: 6,252 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Fingers crossed.
  • LydiaJ
    LydiaJ Posts: 8,083 Forumite
    Part of the Furniture Combo Breaker Mortgage-free Glee!
    DudeDjm wrote: »
    I'm not sure I'm in the right forum so apologies if that is the case. I just want some advice on remortgaging the house I live in to buy a second house outright so I can rent the second house out. I am currently overpaying the house I live in by an extra £500 a month and have been doing that since day one approx 2 years ago when I bought the house. If I keep doing this (which I plan to do) then my mortgage will be paid off four years from now. I only took out a mortgage of £45k. My house is worth approx £100k. However, since buying the house I have changed jobs and gone part time because part time is excellent and I do enjoy an afternoon nap. This means I only earn £9k a year but I don't pay tax on that. I do rent a room to a lodger which gets me an extra £280 a month but I am not relying on that.

    I know I am looking ridiculously far ahead but after I pay off my mortgage do you think it will be possible to remortgage the house for say £50k or does it go on income? Also, do you think remortgaging is the best option? I want to buy a house outright for approx £70k if possible. I haven't ruled out a BTL mortgage but I think it would be less hassle if I just remortgaged unless I've missed something. My current mortgage provider is Nationwide and when I put my details in their remortgage calculator they would only lend me £23k!!!

    Any comments would be appreciated.

    You'll probably get better advice if you go to the main mortgages forum and start a new thread. This forum mostly has diaries of people on the journey of overpaying their mortgages. Some people on here do have BTLs, but that's not something I have ever done (or want to do, actually) so I'm afraid I can't advise you.
    Do you know anyone who's bereaved? Point them to https://www.AtaLoss.org which does for bereavement support what MSE does for financial services, providing links to support organisations relevant to the circumstances of the loss & the local area. (Link permitted by forum team)
    Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
    Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.     :)
  • Froggy-G
    Froggy-G Posts: 2,145 Forumite
    gallygirl wrote: »
    Froggy is the biggest frog I have ever seen :)

    Aren't you a lucky girl GG!! :rotfl::rotfl:
    Froggy's New Lillypad Fund
    Total so far: £ 10,009.77
  • Froggy-G
    Froggy-G Posts: 2,145 Forumite
    Friday...finally...

    £400.12 added to the pot today and I have smashed through the £6K barrier!!

    Still no news from that interview.. agency does not even have the decency to get back to me.. Frustration is not a strong enough word..

    Have a great weekend everyone

    Froggy :D
    Froggy's New Lillypad Fund
    Total so far: £ 10,009.77
  • misscousinitt
    misscousinitt Posts: 3,655 Forumite
    Tenth Anniversary 1,000 Posts Mortgage-free Glee!
    Happy Friday Froggy.

    Hope you hear som news soon...

    MCI
    Mortgage Free x 1 03.11.2012 - House rented out Feb 2016
    Mortgage No 2: £82, 595.61 (31.08.2019)
    OP's to Date £8500
    Renovation Fund:£511.39;
    Nectar Points Balance: approx £30 (31.08.2019)
  • gallygirl
    gallygirl Posts: 17,240 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Well done on the 6k Froggy and pah to rude agencies :mad:.
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
  • Froggy-G
    Froggy-G Posts: 2,145 Forumite
    misscousinitt wrote: »
    Happy Friday Froggy.

    Hope you hear som news soon...

    MCI

    Happy Friday MCI! Enjoy your romantic meal with Mr MCI tonight.. :beer:
    Froggy's New Lillypad Fund
    Total so far: £ 10,009.77
  • Froggy-G
    Froggy-G Posts: 2,145 Forumite
    gallygirl wrote: »
    Well done on the 6k Froggy and pah to rude agencies :mad:.

    Finally got hold of rude agency.. Did not get the job.. Apparently they wanted somebody with an IT background..why they advertise for a finance specialist then? It's beyond me.. Just a dodgy excuse if you ask me.. They have not even offered the job to anybody else.. Employers need to have a good look at themselves and realise they can't get top employees for next to nothing!!

    Rant over..

    Froggy
    Froggy's New Lillypad Fund
    Total so far: £ 10,009.77
  • Calfuray
    Calfuray Posts: 1,003 Forumite
    Uniform Washer
    Froggy-G wrote: »
    Finally got hold of rude agency.. Did not get the job.. Apparently they wanted somebody with an IT background..why they advertise for a finance specialist then? It's beyond me.. Just a dodgy excuse if you ask me.. They have not even offered the job to anybody else.. Employers need to have a good look at themselves and realise they can't get top employees for next to nothing!!

    Rant over..

    Froggy

    That sucks Froggy. I had the same experience with advertised job and wanted job being different. At least you can stay in better paid job just now, build up Lilypad Fund and get yourself set up.

    Best of luck,
    Cal x
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