My Improbable 10 Year Target

Phelpsie001

eeeeek, just overpaid £528!!

I will actually beat my £2,000 overpayment target for the year now!! I will overpay at least £2,152.42 now

Phelpsie001

Wooo, just realised that I owe £240 on finance at 0%, not £360 and so will have it paid off in November and not December as I originally planned!!

Car insurance, Christmas and 2 birthdays happen in December and so any extra money is greatfully received!!

Also, I may be getting some backpay this month or next which should cover the cost of car insurance which will be amazing if it happens!!

Lottery win now and I will be on a roll.....

Phelpsie001

Received a letter from the bank last night, informing me that I must either reduce my payments, or reduce my mortgage term! Can only be good news!! Yay!!

Very poor english in the letter though ... very confusing!!

I will let you know what my term reduces to once I speak to them .... I have reduced it from 33 years to 27 years already so far

Phelpsie001

Just had a letter from Halifax saying they have calculated my mortgage balance incorrectly, and I now only owe £116,500!!!! WOOOO!!!

Phelpsie001

I need advice please!

My company have offered me a job in a different part of the country. They will pay for all of my moving costs, pay part towards a deposit and pay for all my extra travel and any renting costs....

I am considering selling up, moving in with a friend and accepting the company assistance as a lump sum payment? The payments continue for 4 years, and in that time I could save almost £70k on my current wage, plus I have approx £30k equity in my house.

Would I be financially silly not to accept??

dawyldthing

absolutely, its free money!

Hurdler

wow. Where are they planning to move you from?

So if I understand it right - you stand to make approx £30K if you sell the house (and that takes a broadbrush to the costs of selling - which the company don't appear to cover).
Then they will cover the costs of moving, rent (if you are moving in with a friend, I would still arrange to have some kind of rental agreement in place to have the company pay for it) and how much towards a deposit?
What are the prices like for something similar to what you have now, where you are going?
If you were to buy a place - what would be the comparison in terms of mortgage as to what you have now?

Is it an option to rent out your place and have property to your name?

Just some thoughts :-)

Phelpsie001

Hi there, I would be moving approx 120 miles.

The package is:
- rent paid for 4 years
- travel paid for 4 years
- selling costs inc solicitors paid for
- more secure job, guaranteed until 2025
- moving costs covered
- a lump sum to pay for white goods
- stamp duty paid if applicable
- a % towards a house if i decide to move.

If i move in with a friend, I would pay him whatever I am allowed to claim for rent.

If I bought a place, the prices are approx 10% higher, but i would have a much larger deposit so rates should be lower? I dont really want to be a landlord.... I'd rather sell up and bank the equity really? I could save £1,500 a month if I stayed with a friend, over 4 years plus my equity would mean that I could almost buy a house outright?

Hurdler

Wow... sounds like a really good deal then :-)

You gonna invite us to the housewarming?