Funkygibbon's Mortgage Free Dream

mummyofonechild

Yesterday I went to Britannia's Head Office and paid mine off

Funkygibbon

mummyofonechild wrote: »

Yesterday I went to Britannia's Head Office and paid mine off

Congratulations!!!!

mummyofonechild

Funkygibbon wrote: »

Congratulations!!!!

Thank You, just waiting for the paperwork to come through now

Funkygibbon

Took inspiration from Froggy so have also posted our SOA.

As we have only been in the house a week! A lot of these are estimates.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 2067
Partners monthly income after tax....... 557.83 - Maternity Pay
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2624.83
Monthly Expense Details
Mortgage................................ 862.5
Secured/HP loan repayments.............. 177
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 135
Electricity............................. 40 - Estimate
Gas..................................... 40 - Estimate
Oil..................................... 0
Water rates............................. 40 - Estimate
Telephone (land line)................... 0
Mobile phone............................ 60
TV Licence.............................. 12
Satellite/Cable TV...................... 51.24 - Includes Line Rental, Calls, Broadband and Sky
Internet Services....................... 0
Groceries etc. ......................... 250 - Estimate
Clothing................................ 0
Petrol/diesel........................... 200
Road tax................................ 35
Car Insurance........................... 90
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 412.66
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 27 - Includes Contents Insurance
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2442.4

Assets
Cash.................................... 0
House value (Gross)..................... 145000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 145000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 131495...(862.5)....6.19
Hire Purchase (HP) debt ...... 8000......(177)......0
Total secured & HP debts...... 132295....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 2,624.83
Expenses (including HP & secured debts). 2,442.4
Available for debt repayments........... 182.43
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 182.43
Personal Balance Sheet Summary
Total assets (things you own)........... 145,000
Total HP & Secured debt................. -132,295
Total Unsecured debt.................... -0
Net Assets.............................. 12,705

Froggy-G

Hi funky!

Hope you're ok? How is your fiancee? Wasn't she due last Thursday?

Great SOA, well done.. Will you put the £177 you pay on debt repayment (loan, CC??) as OP once paid off? Water rates seems a bit high, but assume this is an estimate?

Keep going, those OP's make a massive difference, however small or big!

Cheers
Froggy :cool:

ps: just spotted you added the estimates mentions..

Funkygibbon

Froggy-G wrote: »

Hi funky!

Hope you're ok? How is your fiancee? Wasn't she due last Thursday?

Great SOA, well done.. Will you put the £177 you pay on debt repayment (loan, CC??) as OP once paid off? Water rates seems a bit high, but assume this is an estimate?

Keep going, those OP's make a massive difference, however small or big!

Cheers
Froggy :cool:

ps: just spotted you added the estimates mentions..

Yeah that's right she was due last Thursday! No sign yet though!!
The £177 is for her car so has about 4 years left. Will hopefully start off with about a £50 overpayment but would like to make £150 will see how it goes!!

Funkygibbon

Our beautiful baby girl was born on the 8th June, weighing 8lbs 5ozs!

yukkibear

Congratulations on your baby girl

kingster2069

A big congratulations on the birth of your baby girl and a belated welcome to the MFW forum.
I have a couple of questions on your SOA, it looks like your HP is only £800 did you mean £8000? Also you have nursery costs, are these cost incurred now or later on, if so maybe you could use some of this money? I didn't read if you have an emergency fund, if not I would try to start build this up, maybe is a cash ISA. I think Santander offer 2.8% above BoE Base Rate.
I hope your enjoying your little girl and looking after mum

Ayeshalush

Funkygibbon wrote: »

Our beautiful baby girl was born on the 8th June, weighing 8lbs 5ozs!

Congratulations!:T:T

I hope both mum and baby are well!

A
xx