Corerupting my Mortgage

miss_corerupted

Right,
I have decided to start my own diary, I find reading everyone elses really useful and motivating but I tend to get confuzzled between them all, so i'm going to set all my thoughts and problems out in one spot.

I have been slowly overpaying my mortgage out for about a year, but we now have had a massive kick up the bottom as we have seen a house we have fallen in love with. However still owing on my mrtgage and having almost no savings means we can't have it :mad:. I had my cry now, by the time I've saved enough money the house we want will be gone, but I'm sure there will be another around the corner (I'm sure there is my fingers are crossed)

I've rung N-Ram and with my current overpayments my mortgage will be paid off in 9 years, not too paid as it should be almost 18yrs.

We also need to save a great deal of money, the house we wanted is on for £349,000 current savings are less than 1%. I would get approx £30k if I sold my house (i think), it currently has a tenant as is quite rural so it might take a while to shift.

I'm all in a tizwaz about exactly what to do atm, apart from reducing outgoings as much as poss.

I hope you all won't mind reading this and offering up advice, i tend to be spontaneous and sometimes don't consider everything from all angles

Thanks

miss_corerupted

its here (at last)

font=courier new]Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1707
Partners monthly income after tax....... 240
Benefits................................ 0
Other income............................ 450
Total monthly income.................... 2397
Monthly Expense Details
Mortgage................................ 750
Secured/HP loan repayments.............. 0
Rent.................................... 250
Management charge (leasehold property).. 0
Council tax............................. 97
Electricity............................. 100
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 0
TV Licence.............................. 13
Satellite/Cable TV...................... 47
Internet Services....................... 0
Groceries etc. ......................... 300
Clothing................................ 20
Petrol/diesel........................... 0
Road tax................................ 17
Car Insurance........................... 50
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 13
Contents insurance...................... 0
Life assurance ......................... 12
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 2
Entertainment........................... 20
Holiday................................. 0
Emergency fund.......................... 0
Union Membership........................ 9
Total monthly expenses.................. 1750

Assets
Cash.................................... 3200
House value (Gross)..................... 110000
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 118200

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 68000....(750)......4.67
Total secured & HP debts...... 68000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
OH Overdraft...................1500......15........0
Total unsecured debts..........1500......15........-

Monthly Budget Summary
Total monthly income.................... 2,397
Expenses (including HP & secured debts). 1,750
Available for debt repayments........... 647
Monthly UNsecured debt repayments....... 15
Amount left after debt repayments....... 632
Personal Balance Sheet Summary
Total assets (things you own)........... 118,200
Total HP & Secured debt................. -68,000
Total Unsecured debt.................... -1,500
Net Assets.............................. 48,700
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.[/font]

miss_corerupted

i'll right up and explain current situation etc here

miss_corerupted

I have a few things to do today, not sure if there are all money saving

1 Make Beef Stroganoff with rice and dumplings
2 Go shopping for bare minimum - milk, nappies, mushrooms and vodka!
3 Collect elderflowers and make presse - it lasts longer than cordial, if i have enough i could make champane as well
4 Empty cupboards in pantry - we don't really use this atm as the cupboards are still full of grans things, so I will be packing up her things to go in the attic for now, should give us quite a lot of room for me to build up a storecupboard.

I thikn thats it for now,

miss_corerupted

oops saying vodka is a bare minimum makes me sound like an alcoholic - i'm using it to make Elderflower liqueur as christmas gifts (honest!)

GeorgieFTB

miss_corerupted wrote: »

oops saying vodka is a bare minimum makes me sound like an alcoholic - i'm using it to make Elderflower liqueur as christmas gifts (honest!)

oh, vodka is a bare minimum!:D

I'm sorry about the house, whats your plan to be ready when the next one comes up? On a practical note you will need savings to cover moving costs, solicitors, stamp duty, EA fee's and a moving slush fund... oh that sounds a little massive!

Well done on the mortgage so far! and welcome to the board!

Gx

miss_corerupted

ah that does sound massive, i didn't even think of those things, just cost of the house!!

my current idea is to save and over pay as much as possible! but i think it will be years before we can afford anything like we want. its our own fault for spending money and not saving, doesn't make it hurt any less though. i'll upload a photo of the house in a min. i should say it comes with 73 acres mind as my boyfriend is a farmer but wants one of his own.

miss_corerupted

well that didn't work, how do i upload an image???

Vixstar

I think you can upload an image from photobucket account - thought I'm a little hazy on the exact details. Sure someone more knowledgeable will be along shortly.

[Deleted User]

Hi and welcome to MF life!
No idea about how to put photos on Im afriad- bit of a techno-phobe!
Sorry about the house - but am sure the right one will come along!
What are your mortgage free plans so far? be warned - this place can get addictive! :rotfl:

miss_corerupted

i'm sitting here in the living room eyeing up the boys toys thinking to myself I'm sure they don't need all those!!! i'm sure they won't miss a few lol.

i'm going to go through all my treasures hidden under the bed and i'm going to go through my comics and try and sell some stuff off.

I'm not sure what the best thing to do is. Get mortgage free asap or get soem savings for a deposit etc.