Originalmiscellany's MF dreams

Alchemilla

What is your new job?

originalmiscellany

I am still involved in education, but work for a Higher Education provider - so many of the enjoyable parts, without the challenge of taking a herd of horses to water to only find out that they're not drinking

abouttimetoo

originalmiscellany wrote: »

Update: End of October 2014 - New job, love it. pays less but thoroughly enjoyable. Therefore staying where we are, with the hope of promotions. However the real benefit has been in terms of quality of life and less stress. Beautiful!

Hi OM. great to see you back round these parts again and congrats on the new job. The quote above is brilliant, surely what it's all about, choices and quality of life

Regards
ATT

originalmiscellany

Not a lot to update, life is a lot cheaper but infinitely more enjoyable and "balanced". We are debating about moving to a forever house, which would offset all of the work we've put in to get to where we are today, which means I'm not keen to jump up the property ladder any time soon.

originalmiscellany

Itchy feet are upon us. Not a nasty infection but maybe moving house. We may start this process again at some point in the near future, but with children it appears saving is a lot harder!

originalmiscellany

So the journey will re-start again soon with a very different set of parameters...
We've seen a house and put an offer in, which has been accepted. The current owner has put on offer on a vacant house about 5 minutes away (think downsizing) which we is vacant due to a bereavement. Therefore the chain could move fast.
Great! a family home for us - Me (OM), My good wife (MOM), girl (GOM), boy (BOM).
Bad! It'll be a big mortgage and MOM is planning on not working when her contract expires for a little while to get our life back on kilter. Bad! I love my job but took a pay cut to move there and I am "phobic" about debt. Therefore once we are up and running, getting the mortgage cut (last time we did it, there were 2 good incomes and no dependants), now there is 1 income and 2 dependants. The mortgage will be huge in my mind, but I will be planning to keep myself updated on here as much for me as for anyone out there.

So things I do to save:
Have cut back on ALL bills etc to the basics (BT broadband to plusnet), phone to PAYG over the past few years
Walk to work where possible
Stopped the gym many years ago and converted the garage.

Mortgage: Potentially upto 160k - Have a decent deposit and a low rate, with a Nationwide mortgage which you can leave or lock at any time within 2 years for no fee (within or outside of Nationwide) - 1.84% I think, which I hope will mean we can make overpayments for 2 years as the overall cost will be as cheap as it will be for a long time I think.

Anyway, more to follow once we have news.

It's exciting as I've never moved as a chain before, I've moved into a house once (14 years ago) but never been in a big chain.

Looking forward to getting backing into MSE - it's one of those websites when you need focus but when you don't need the focus you drift away

Have a great evening

originalmiscellany

So this evening: Filling in paperwork - we've been warned that it's a big job, but doing the inventory etc, evidence of warranties etc that the solicitors request means that it has taken 3 (?) full evenings of work. And we're pretty organised with paperwork in order and accessible.

originalmiscellany

3 days on, in a big twist, more paperwork - admin and pen pushing. However we've done as much as we can do, are looking at the sales pitch of moving companies etc and are looking at the house again to measure up. I think the current owner wants to "bless" us with some old house stuff which he no longer needs. But pennies are the priority. We've been quoted between 400 and 800 for moving (rough online quotes), had one come out to see us today and another one on Friday.

originalmiscellany

Have got our EPC through - it's clear that a new boiler is in order amongst other things. I think we knew that but is useful to see how much potentially we could save. Other than that no extra info to report. Just waiting for a moving date.

originalmiscellany

So not having posted for almost a year - house is lovely, just what we always wanted. Am planning on posting a new thread for the new house, but need your advice.
Currently on a 2 year (expires Oct 2018) Nationwide mortgage currently at 1.59%.

Am tempted by the First Direct 10 year fix mortgage at 2.49%.

On both we've gone for the longest term but have been overpaying monthly whilst keeping the amount we pay the same, e.g. shortening the length of the mortgage.

There's "only" £50 a month difference in the 1.59% for 18 months and the 2.49% for 10 years.

What would you do if you were me?! I am thinking of fixing but really don't know what interest rates are going to be doing over the next year - would you go and "lock in" a deal or would you go and risk it for a little less mortgage cost over the next year and a half with a potential of some increase/rates not being as good?