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Ztan's Shared Equity Story- MFW from the word GO
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Morning all, thanks!
We're in... I was off all last week, getting settled and unpacking. We did have a plumbing dilemma on our first day... when my other half decided to fix something to the wall and drilled into a pipe!! Luckily, it was minor and my Dad came to the rescue and fixed everything back up. It's like it never happened.
It's 2 weeks today since we had the keys, and despite the fact that the render on the back STILL isn't finished, and they've messed up the bit outside... I couldn't be happier. We've paid our first mortgage payment, and are settling in nicely.
Now it's time to finish getting the place kitted out (who knew how expensive curtain poles were?!) and start saving for our overpayments
MFW 2010- £112,500 + 20% Equity Loan = £150,000 35 years
2013- £108,877.28 + 20% / current OP = 19 years :T
Target to be Shared Equity Free- 2016Target for holiday to Australia- 2014Currently training for a Commando Challenge- drop and give me 200 -
Great to hear from you and glad the inevitable problem was easily sorted!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"0
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lovely to hear from you hun Have fun kitting out your new place and don't let your OH do anymore drilling! Currently studying for a Diploma - wish me luck
Phase 1 - Emergency Fund - Complete :j
Phase 2 - £20,000 Mortgage Fund - Underway0 -
Glad to hear you're in! Must feel wonderful
Weight loss: Start weight: 80kg; Current Weight: 77kg; Target weight: 55kg0 -
Congratulations!!!!! Enjoy your new home together!
And on a non MSE point - maybe invest in a metal/wire/pipe detector - not sure what it is called, but I got one from B&Q and you run it over the wall and it bleeps if there is something there which means you shouldn't knock in a hole etc - my dad bought one for me after I called him out the second time I'd put a nail in the wrong place!Mort at highest - June 2008 - £171,000 - Daily Int 5.9% = £27.64:eek:Offset Mort - Nov 2010 £150,299- Daily Int 3.75% = Nov £15.44Mortgage Jan 2012 - £136,000 - Daily Int 3.75% - £3.100 -
maybe invest in a metal/wire/pipe detector - not sure what it is called
I bought one of these a few years ago, because I needed to be able to detect where the timber studs were located within the [plasterboard] walls, so I could put some shelves up.
I knew I could locate the wooden struts by their metal nails... So what did I go in the DIY shop and ask for? A 'stud detector'. As soon as the words were out of my mouth, I realised what I'd said and started laughing, as did the strapping, 20-something guy who was serving me :rotfl:
QB0 -
The very next day my OH was off to the shops and picked himself up one.
I have to be honest... we spent most of yesterday trying to put shelves up in our airing cupboard, and were having problems with the plaster board. It did not occur to either of us to use the bleeps the other way around and use the timber frames to attach the shelves to!
Awesome story QB... my Dad offered my OH his "stud detector" but he just couldn't wait to get that drill out again.
We're nearly done now... however it has come to light that the render on the back is still atrocious, and therefore will have to be redone a 4th time. They've also messed up our garden at the front, and have placed it wrong meaning we've lost half a foot of our land.
Needless to say they got an earful and are busy rectifying these issues. It is infuriating me though, as we can't get on with certain things until they no longer need access through our garage!MFW 2010- £112,500 + 20% Equity Loan = £150,000 35 years
2013- £108,877.28 + 20% / current OP = 19 years :T
Target to be Shared Equity Free- 2016Target for holiday to Australia- 2014Currently training for a Commando Challenge- drop and give me 200 -
Well, we've paid the first payment, so only 1,000,000,000 to go or something like that! hehe!
I forgot to mention on here that we had a lovely little welcome present from Halifax the other week- it was a whole hamper of stuff full of biscuits, tea, coffee, posh soaps, some picture hooks etc. Really thoughtful and a pleasant surprise!
We're still extremely happy with our choice to go Shared Equity... and I will keep you updated on the journey as it goes from here. After Christmas, we're back on a saving mission, with the aim of OP by around £4,000 next year.
Fingers crossed!MFW 2010- £112,500 + 20% Equity Loan = £150,000 35 years
2013- £108,877.28 + 20% / current OP = 19 years :T
Target to be Shared Equity Free- 2016Target for holiday to Australia- 2014Currently training for a Commando Challenge- drop and give me 200 -
Ztan - your halifax eal is there a limit on OP's?? if so what is it? Just offered and had accepted an offer last night and our AIP is with halifax MF aim 10th December 2020 :j:eek:MFW 2012 no86 OP 0/2000
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Whilst on a fixed deal, we can OP by up to 10% of the remaining value of the mortgage a year. If we go onto their SVR then OP are unlimited.
They encourage it to a certain degree... I mean 10% when you first start out, isn't likely to happen! We're hoping to OP by £4-6k a year for the next 5 years, so we can remortgage with a good LTV to pay off the second interest with the developers. Plus the thought of being bound to a mortgage for 35 years is terrifying! lol
Congrats on having your offer accepted Lilac... are you likely to be completing etc ready for the new year?MFW 2010- £112,500 + 20% Equity Loan = £150,000 35 years
2013- £108,877.28 + 20% / current OP = 19 years :T
Target to be Shared Equity Free- 2016Target for holiday to Australia- 2014Currently training for a Commando Challenge- drop and give me 200
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