On the up (Hopefully)

sugarcube84

Mortgage application submitted and the survey on the house we are buying has been carried out, doesn't look like any issues have cropped up (yey!!!) survey on our current house tomorrow.
Kepping everything crossed!!

sugarcube84

Mortgage valuation day today eeek

sugarcube84

Broker informs us that we should have an offer by Wednesday. Fingers crossed.


Its become more of a mortgage thread than a df wannabe thread at the minute :-) So....money update....I'm still keeping up with checking the banks daily, we have moved some direct debits around and after sitting down and looking at the budget for the new house we have decided to run all the bills from one joint account. Previously we had had separate accounts for personal bills (phone, gym, pony etc) and a joint for one family/house expenses. We will then move an equal amount each to our personal accounts for treats/spends/personal saving. The difference is our wages is much bigger than it was when we started this so we needed to make sure everything was allocated fairly.


We have still got a small balance on the credit card but we were advised by our mortgage broker not to pay it off just yet and keep the money in our accounts for moving expenses. He has said in the application that it wont be paid off prior to completion and couldn't see it being a problem as its a small amount when compared with our wages and the amount we want to borrow.


I have worked out all our costs and they will be covered by the equity we have, plus a lump sum will be left over after paying our deposit. So I think I will use that in 3 ways 1/ to pay off the credit 2/ to add to our emergency fund 3/ some nice new things for the new house :-)


All in all, we are in a good place considering we are doing a big expensive thing of moving house. We had a couple of big payments that hadn't been budgeted for (search fees/survey) but with a bit of moving money around I managed to avoid the overdraft. DH accounts are all up to date so fingers crossed in continues!!!

sugarcube84

No news yet, the mortgage comapny asked a few questions about when the house flooded in 2015 which the broker has answered and returned. they siad 2 working days so fingers crossed we get something on Friday.

sugarcube84

The valuation has now been approved so we are just waiting on the offer now. I spoke to our solicitor who has commenced searches and confirmed that we have received the sellers draft contract. Its all ticking along nicely, no idea when we will be in but I would guess end of Aug/beginning Sept. So excited!!

sugarcube84

Woohoo we have an offer, I can finally relax a bit (Not going to happen I'm a control freak lol) but I've been having a big think and as desperate as I am to be in our new home I'm not going to push too much for a couple of reasons


1/ our buyer/seller's dad is very poorly and I don't want her to spend time concentrating on the move to the detriment of spending time with her dad. I don't want our house to forever remind her that she missed out on time with him/missed an important call because she was chasing solicitors etc


2/ the longer we stay here the more money I will be able to save :-)


So I will just keep it ticking along nicely, so exciting!!!

sugarcube84

I have just updated the banks and worked out that next month I will have enough put aside to pay off the credit card in full if I wanted to, so I could be classed as debt free as my savings will exceed my debts....but... I'm not going to pay it off. I'm going to keep it stashed, just to be on the safe side, until we are in our new house and all the new payments have been set up. I know that the first new mortgage payment is a lot higher than our normal monthly payments and if the 1st new one and last old mortgage payment went out in the same month then we might struggle and it would be nice to have a chunky emergency fund to fall back on.


Once all the payments are set up and the budget is updated then I will pay off the credit card. Plus there could be loads of things wrong that we might need to sort ASAP, so having some saving could be useful.

sugarcube84

Still no news on when we might exchange/complete but we are nearly at the end. Both of us have submitted enquires and the majority are answered, just one from each side outstanding. I would love to move in August but i'm away the last weekend so that is off the table and I think it might be a bit of a push to do it next weekend. I did say it would be nice to get another payday at this house and its looking more like its going to be in September which is fine but we are away the 2nd weekend so that's another date crossed off. Although perhaps we could complete Mon-Thurs rather than Friday which would give us a bit more flexibility.


I really want a date so I can re do my budget!!

sugarcube84

We are exchanging today and completing/moving on Friday. Woohoo!!!


We have decided to move ourselves to keep the costs down, we are calling in a favour with the father in law who my dh helped move a number of times over the years, the last time being last month. My friend is also travelling to help us, she lives a couple of hours away, as I have helped her move a couple of times as well. So that's help on the Friday and then the Saturday/Sunday as well :-)


All the funds have been transferred to the solicitor and we have a nice little nest egg leftover, some of this is paying off the last of the credit card and some will be saved for house jobs. So we are officially debt free as well as having a new house.


It has been a long journey, I started this diary on 10/09/11 so almost exactly 6 years ago, things got worse before they got better but I can honestly say we are stronger for having done it. Dh wasn't on-board when we began but he is 100% now, and we are teaching our ds the importance of saving.


Off to update my signature for the last time.

crunch_time

Congratulations on being debt free! You have worked so hard!

What's next?
Crunchy xx