The "Pay ALL your debt off by Xmas 2012" challenge - PART 3!!!

suzitiger

jakes-mum wrote: »

Oooo I dont know, curl up in a ball and rock back and forth probably :rotfl:, who will I be once im no longer the 'lady who pays the debt' ive been her for 12 years :rotfl:.

I did ask DH last night, whats my present for paying it all off on my own, and he said anything I want, I only think he said that because he knows im such a skinflint i'd probably treat myself to £5 worth of beads off ebay, anything else would be a waste of money Quite like the idea of going out to dinner on my DFD, but i'll prob be skint on that day having paid the last bit off :rotfl:



Aww mumsie, your a tough soul doing it all on your own, we'll support you to the end



Hurrayyyyyyyyyyy! your turning into an ebay fanatic like meeeeeeeeeee :rotfl:, though ive nearly run out of stuff to sell :eek:, have actually had to make the kids start going though their toys just so I can put stuff up for sale . . . I told them if they didnt father christmas would come down the chimney, see all the toys they have, decide they didnt need anymore and leave again is that bad? :rotfl::rotfl:

Hahahaha JM you make me laugh, I think it is being cruel to be kind, it won't hurt them to have a sort out, I wish my hoarding parents had been a little firmer with me
And Wow on the 12yr front, how long have you used the forum for? I have been here 2years but it took me a year to have my LBM :eek:

mf0u1098 wrote: »

Well, I've spent the weekend in Liverpool (had yesterday off too!) and had a great time, very mse though as I didn't drink so it just cost fuel.

I've found a house I want and should be able to make an offer in January (if it doesn't sell before then, not likely as it's been on for about 5 months and it's just before Xmas!). I'm so excited and have become a little bit obsessed with working out the costs of kitchens/bathrooms/carpets/flooring/boilers etc as I'm trying to work out how much this house would cost to do up so I can put in a REALLY cheeky offer.... It looks like a pensioner has been in the house so I'm hoping that they will just want the house gone especially as it will have been on the market for months. It is 2 bed but with a HUGE landscaped garden but there are 3 bed houses in the same area but with a small garden with the house already done up for around the same price so I definitely need to be cheeky!

I wonder if InsertWittyName will be debt free tomorrow???? (is the 21st your payday?) How many others are going to be debt free by the end of this month??!!!!

xxxx

xxx

Ooooh very exciting Mf0u! Yes do a Phil and Kirsty and keep your cool, Fingers crossed for you! Are you going to stay on this thread and help us get to our Debt Free Days?:beer:

InsertWittyName

mf0u1098 wrote: »

I wonder if InsertWittyName will be debt free tomorrow???? (is the 21st your payday?)

The 21st is my payday yes

You'll all just have to wait until tomorrow to find out (although likely it will be very late tonight!)

mumsiemum

jakes-mum wrote: »

Aww mumsie, your a tough soul doing it all on your own, we'll support you to the end

mf0u1098 wrote: »

:A:A:A Well we are all very poud of you for working through this by yourself but I understand why your OH will be upset with you. I'm the same though in that I keep things bottled inside and don't let people help me. Hopefully you'll be able to relax properly in your relationship once you've made your last payment and you'll have no more secrets between you. :A:A:A

Aww thanks everyone - your support is really appreciated.

Had some good news today - been asked to do some tuition over the Christmas holls which will bring DFD a little nearer.

Also got call from agency about a part time job I applied for - hoping to hear about an interview in the next couple of days. It sounds brilliant - but don't want to get too excited so I jinx it so keep everything crossed for me!

MM

jakes-mum

suzitiger wrote: »

Hahahaha JM you make me laugh, I think it is being cruel to be kind, it won't hurt them to have a sort out, I wish my hoarding parents had been a little firmer with me
And Wow on the 12yr front, how long have you used the forum for? I have been here 2years but it took me a year to have my LBM :eek:

11th january will be my 7 year anniversary on MSE :eek: The worst thing is, im not the debt maker, im just the debt payer, ive spent my entire adult life trying to get ahead of DH's spending . Dh never had to manage his own money so was like a kid in a candy store, throw in a credit card and it was christmas everyday :eek:.

The 2 times we have got debt free its not been from hard work its been from moving house and adding the debt to the mortgage, so I decided last year it was time to do it the hard way and its helped him watch me do it especially as he saw how much money we have wasted and how good our life was even living on a shoe string, he never actually went without this last year .

mf0u1098

I'm getting so confused and a bit overwhelmed by all the grown up house buying terms :eek::eek::eek:

What the hell is conveyancing?!

Do I need to make a will? Do I need MPPI (mortgage payment protection)? Do I need life insurance? How do I find a broker? Is a mortgage worked off the valuation price or the purchase price? Is it best to get a mortgage on a fixed or variable rate in the current climate? If fixed, then for how long? What is covered in buildings and contents insurance?

Honestly, why does it all cost so much??? !!!!!! Turpin isn't dead, he wears a bl00dy suit and works in a bank!!!

However, I was MSE and was looking around at bathroom suites (I know I know, I haven't even put an offer on the house yet...!!! :rotfl:) and I've found the bath I'd like for £179 (it's a curved double ended bath (I did like the whirlpool one but at £699 extra, it's just me being deluded...*sigh* :rotfl:). I want to spend a bit more on the bath and shower but I've found a sink set for £30 and toilet for £65 :j After looking at prices for £100's then these look pretty good to me!


Just thought I'd tell you all that I wrote to 10 Downing St about people like me who have believed that having a good education and working hard would mean rewards in the future. Here I am, 31yrs old, living with my parents to clear uni debt and others from being given out credit like candy as a young adult. I can only get a mortgage at 95% if I go for a new buy but there are none in my area unless I want a flat over a shopping precinct! All the others are too expensive to commute to in fuel! I told him that not enough was being done to help people like me who can clearly afford to repay the monthly mortgage but have no deposit. We want to help the economy but strengthening the chain at the bottom but we can't get on the ladder. I've since had a reply that they have forwarded it to the correct government department so they can respond. At least it wasn't just ignored! :T

banwa

Hello all, :wave:.

Havn't been posting much because we have just been dribbling along with minimum payments, but husband now has a permanent job so things should start to move again



Banwa
#028 7067/15000 47%

Ounfortunately this is 47% of what I pledged (£15k) not the overall hideous debt. This is now down to £17933 from £25k

Banwa

suzitiger

jakes-mum wrote: »

11th january will be my 7 year anniversary on MSE :eek: The worst thing is, im not the debt maker, im just the debt payer, ive spent my entire adult life trying to get ahead of DH's spending . Dh never had to manage his own money so was like a kid in a candy store, throw in a credit card and it was christmas everyday :eek:.

The 2 times we have got debt free its not been from hard work its been from moving house and adding the debt to the mortgage, so I decided last year it was time to do it the hard way and its helped him watch me do it especially as he saw how much money we have wasted and how good our life was even living on a shoe string, he never actually went without this last year .

Wow...yep this is probably me...but I am getting better. Used to just pay my minimums, spemd on them and forget. Now, I pay the most I can afford each month, shift the money around to avoid paying interest, and TRY not to spend, if I have to its on one card at the lowest interest rate. It isn't ideal but when things are a bit better, this will stop altogether I promise!

mf0u1098 wrote: »

I'm getting so confused and a bit overwhelmed by all the grown up house buying terms :eek::eek::eek:

What the hell is conveyancing?!

Do I need to make a will? Do I need MPPI (mortgage payment protection)? Do I need life insurance? How do I find a broker? Is a mortgage worked off the valuation price or the purchase price? Is it best to get a mortgage on a fixed or variable rate in the current climate? If fixed, then for how long? What is covered in buildings and contents insurance?

Honestly, why does it all cost so much??? !!!!!! Turpin isn't dead, he wears a bl00dy suit and works in a bank!!!

However, I was MSE and was looking around at bathroom suites (I know I know, I haven't even put an offer on the house yet...!!! :rotfl:) and I've found the bath I'd like for £179 (it's a curved double ended bath (I did like the whirlpool one but at £699 extra, it's just me being deluded...*sigh* :rotfl:). I want to spend a bit more on the bath and shower but I've found a sink set for £30 and toilet for £65 :j After looking at prices for £100's then these look pretty good to me!


Just thought I'd tell you all that I wrote to 10 Downing St about people like me who have believed that having a good education and working hard would mean rewards in the future. Here I am, 31yrs old, living with my parents to clear uni debt and others from being given out credit like candy as a young adult. I can only get a mortgage at 95% if I go for a new buy but there are none in my area unless I want a flat over a shopping precinct! All the others are too expensive to commute to in fuel! I told him that not enough was being done to help people like me who can clearly afford to repay the monthly mortgage but have no deposit. We want to help the economy but strengthening the chain at the bottom but we can't get on the ladder. I've since had a reply that they have forwarded it to the correct government department so they can respond. At least it wasn't just ignored! :T

This all sounds great Mf0u, except for all the horrible house buying terms :rotfl:
Glad you have found a bathroom suite for cheap, and I think that writing a letter to the government is inspired, go you!! :j

jakes-mum

mf0u1098 wrote: »

I'm getting so confused and a bit overwhelmed by all the grown up house buying terms :eek::eek::eek:

What the hell is conveyancing?!

Do I need to make a will? Do I need MPPI (mortgage payment protection)? Do I need life insurance? How do I find a broker? Is a mortgage worked off the valuation price or the purchase price? Is it best to get a mortgage on a fixed or variable rate in the current climate? If fixed, then for how long? What is covered in buildings and contents insurance?

Honestly, why does it all cost so much??? !!!!!! Turpin isn't dead, he wears a bl00dy suit and works in a bank!!!

Lol, Dh and I are just looking into a Will as its Will Aid this month so £90 for a single, £135 for a mirror (joint) . . 8 days left to apply for anyone else who needs one! We need one because we have kids and in the event we go together before they are of age I do not want the state deciding who cares for them, I also do not want every single member of my family making a claim on my estate, that money is for my children.

My fixed rate is coming to an end february and I am not locking myself back in, I will stick to the variable until it starts to creep up. You need to decide if you want a guaranteed payment every month that will not change or if there is enough in your monthly income to comfortably afford your mortgage if the interest rates go up (which they will at some point)

DH and I both have life insurance, again because we have children and they need providing for if anything happens to us.

You can find a mortgage advisor in the yellow pages , do not allow them to do your insurances though as this is where they make their money, look through Martins guides on the best deals, you can get most of your insurances for pennies. Just to show you th difference, our mortgage advisor insurance £47, me - £24 :eek:

You can apply for any amount you want for a mortgage, but no lender will ideally lend more than 95% of what the property is worth just incase you dont pay. If the house needs work, you can apply for a mortgage of the accepted offer price plus extra for essential work, eg. the house is worth £150K, you offer £110K because it needs work you apply for a mortgage of £130K, the mortgage company say yes because you are still applying for less than the value of the house. What you need to remember is that what the estate agent says its worth may not be what the mortgage company think its worth.

Buildings and contents are essential! I would never own a home without it, if there is a fire, flood, etc your home is covered for rebuild. What I would say is be very honest with how much your possessions would cost to replace, people think 'ooo £35k! thats loads to replace stuff if there is a fire!' but have a look round you, sofa, oven, tv, carpets, plates, cups, teatowels, bed linen, it would all need replacing.

Conveyancing is what your solicitor does, its the transfering of the deeds of the house from the previous owners name to your own. nother little tip, use a local solicitor even if you find a cheaper one online 200 miles away, because at least if they decide to drag their feet you can knock on their door, also you can put any paperwork you have to sign through their door so no chance of it going missing in the post or adding time on to the exchange.

You will also need to have the house surveyed to make sure its stucturally sound and its not in a flood area (which would affect your insurances significantly)

mf0u1098

jakes-mum wrote: »

Lol, Dh and I are just looking into a Will as its Will Aid this month so £90 for a single, £135 for a mirror (joint) . . 8 days left to apply for anyone else who needs one! We need one because we have kids and in the event we go together before they are of age I do not want the state deciding who cares for them, I also do not want every single member of my family making a claim on my estate, that money is for my children.

My fixed rate is coming to an end february and I am not locking myself back in, I will stick to the variable until it starts to creep up. You need to decide if you want a guaranteed payment every month that will not change or if there is enough in your monthly income to comfortably afford your mortgage if the interest rates go up (which they will at some point)

DH and I both have life insurance, again because we have children and they need providing for if anything happens to us.

You can find a mortgage advisor in the yellow pages , do not allow them to do your insurances though as this is where they make their money, look through Martins guides on the best deals, you can get most of your insurances for pennies. Just to show you th difference, our mortgage advisor insurance £47, me - £24 :eek:

You can apply for any amount you want for a mortgage, but no lender will ideally lend more than 95% of what the property is worth just incase you dont pay. If the house needs work, you can apply for a mortgage of the accepted offer price plus extra for essential work, eg. the house is worth £150K, you offer £110K because it needs work you apply for a mortgage of £130K, the mortgage company say yes because you are still applying for less than the value of the house. What you need to remember is that what the estate agent says its worth may not be what the mortgage company think its worth.

Buildings and contents are essential! I would never own a home without it, if there is a fire, flood, etc your home is covered for rebuild. What I would say is be very honest with how much your possessions would cost to replace, people think 'ooo £35k! thats loads to replace stuff if there is a fire!' but have a look round you, sofa, oven, tv, carpets, plates, cups, teatowels, bed linen, it would all need replacing.

Conveyancing is what your solicitor does, its the transfering of the deeds of the house from the previous owners name to your own. nother little tip, use a local solicitor even if you find a cheaper one online 200 miles away, because at least if they decide to drag their feet you can knock on their door, also you can put any paperwork you have to sign through their door so no chance of it going missing in the post or adding time on to the exchange.

You will also need to have the house surveyed to make sure its stucturally sound and its not in a flood area (which would affect your insurances significantly)

:A:A:A All hail to Jakes-mum!!! Thank you so much for your tips an insights, I will definitely be printing this out for a re-read in the coming future! xxx

jakes-mum

mf0u1098 wrote: »

:A:A:A All hail to Jakes-mum!!!

:rotfl::rotfl::rotfl::rotfl::rotfl:Ive been telling Dh for years im a saint, and now here it is, living proof :rotfl::rotfl::rotfl::rotfl:

Most welcome hun, any questions give me a shout, ive done the house buying thing 3 times now, it gets alot more annoying, time consuming and costly the next time round when you have a house to sell as well enjoy being the end of the chain, sellers will love you