BabyB wants to be mortgage free (or at least have more equity!)

babyb06

long time no post.......

no major o/p's (just rounding off my current account weekly, topcashback payments etc) and I am now trying to sort out my new budgets and save for NYC spends for our December holiday. I am now paying for more household bills and all food (so just got the slow cooker out and making another effort at batch cooking). But my OH has kept to his side of the bargain, he has kept a spending diary, been shocked at how much he spends on 'incidentals' and is now taking a packed lunch to work everyday rather than buying it and is sticking to the budget we made together for him. I am so happy with what he has done so far and just hope it stays this way.


I have taken Lois' suggestion of planning my January thoughts for how i'd feel if OH does/doesn't make the savings he has promised to. It has actually been quite good for me as it has focussed my mind (and heart) on our relationship and I have realised how much i see our future together.

I have also been able to focus my mind on my (and our future) in that I want to move out of my flat, i want a house with my own front door and garden. this was something OH and I had discussed a few months back (before I knew his debt issues) and so now it has been a matter of reassesing financials and figuring out what i can buy alone for us both to live in. I now NEED to get all the jobs i have been putting off in the flat done.............anyone know a good handyman in the Manchester area?!

BabyB

babyb06

Just updated my signature - really impressed by my daily interest!

O/Ps have slowed down greatly, partly due to me taking on more household bills and partly because I have just taken my eye of the ball in last month or so. Finding it hard to focus on money saving at the moment and weight loss has stopped too :-( Need to re-focus!

I have de-cluttered the flat and done lots of tidying so it is ready to be photographed by EA - not sure if I am rushing into moving given everything that has happened recently, but I really, really want to. I guess we'll just see what happens!

babyb06

Hello all! Not much posting, but lots of lurking recently......missing ChaMichelle but CathT has kept me motivated (amazed at what she is doing with a newborn) and Courgette's drive to make money now she isn't working FT - lots of new diaries too that are good to read!

/Things are a little slow on the flat-selling front, but my OH is of the view we can't expect much more, as the type of property and price of it needs a particular type of person (i.e.young professional - me a few years ago!) From the viewings we've had (IMO wrong target audience) - amazing flat, bad communal areas - I agree with comments, but not sure what I can do about it - communal areas are clean and tidy - just not up to scratch decor wise (eg carpet colour).

In MFW news, I am on target to meet my revised target to knock another £5k off mortgage by end December (only £506.14 to go!) and my daily mortgage interest has dropped AGAIN!!!! Have I said how much I love my offset mortgage?!

My OH is also sticking to budget, giving me his monthly savings so a lump sum can be knocked off his arrears when we work out what he owes (NRAM are being very unhelpful, refusing Data Proteciton Act info requests) and the few mortgage statements he has kept suggest they have been adding charges when they aren't due (i.e. against their own charges policy) but need all the statements to challenge them properly - any ideas on how to get them to give the statements? The letter sent is sort of like the template sent by people claiming back PPI, can't see why banks have to release the info under the act and mortgage company don't...........

I have bought most of my Christmas presents now - apart from OH - have no idea what to buy him! And I am now looking at Christmas Day meal plans as I am cooking for the family for the first time!!!!!! Need to find what I can do in advance and freeze/chill so I don't get too stressed!

BabyB

Sepa74

Wow! Your daily interest reductions are amazing! Well done!!

babyb06

So it is almost 2012! 2011 has been a good year over all - I am so proud of my mortgage achievements - i have far exceeded the targets I set myself - today my mortgage stands at £136,000, I have repaid my family loan and have 3 months of savings (in case of illness) sat in my offset savings account. I am positive I would not have achieved so much if it weren't for this board - so many threads have helped me (I read a lot even though I rarely post on them) they have given me ideas of what to do, helped me see i could achieve more and made me realise i also need balance (just got back from another visit to NYC!). SO THANK YOU TO EVERYONE WHO POSTS ON HERE - I WOULDN'T HAVE ACHIEVED SO MUCH WITHOUT YOU ALL!

And my boyfriend is also doing well with his moneysaving. NRAM are still being pains and haven't replied to his data protection request for release of info re charges and I have to say he has been very slow to chase them, he is still not great with paperwork, but he is saving lots. He has not missed one single payment and has transferred the money he is saving to me every month for safe keeping without reminder. I have just read the note I wrote myself at the end of August on the advice of Lois_E and I think I'll show it to him in the new year - he has certainly done very well with saving, although it was my plan he stuck to rather than making his own, but he has done so with no moans (after the first initial week when he said my budget was impossible) so I am very proud of him and the effort he has put in - it means we can start planning our future as he will be out of debt (although unfortunately still in negative equity) by mid-end 2012. yippee!!!!

I hope everyone has a wonderful NYE and look forward to reading your targets for 2012 - noticed PammyJ74 already has a new diary. I will set my target in next couple of days.

BabyB

babyb06

AN UPDATE!

Fingers crossed exchange will take place on our new house today and we will complete and move in in a couple of weeks. Had I not found this board I wouldn't be able to move now (or at least not into such a big house). I would have saved, but by paying off my mortgage instead i was able to re-mortgage, get a lower interest rate and an offset mortgage - this was the key.

So August 2012 - my outstanding mortgage stands at £123,000 and I have saved £15,000 to pay for stamp duty, moving costs, solicitors fees etc, etc.

Thank you to all that have helped and for posting your own threads for inspiration.

I will start a new thread when we have moved with a much bigger target to clear!