Hello all!!

Shineyhappy

Hi everyone,

I feel quite ashamed reading everyones posts for the last few weeks without logging in and introducing myself.

Before I post up an SOA I would like to say a huge thank you to everyone on this board! This is a truely amazing place, not just for the advice, but mainly for the support every poster offers.

Ok, a bit about myself, I am a 26 year old living in a hugely expensive area. I bought my flat a year ago with my ex. We split up in October after a very nasty six months. Finally he is just about to sign everything over to me for the sum of 12.5k. Which will unfortunatly bring me mortgage to a grand total of 152k:eek: :eek:

Apart from that I have an Egg card of £775 and an over draft of some where up to 2.5k. The real problem as you can guess is the mortgage! 10k of that was at a higher rate to buy out my useless ex along with an interest free extended loan from my mum of 5k, this doesn't need to be paid back until I sell my flat.

I have had a lodger for the last few months so that has helped, right time for my soa:eek:

Income: 1120
Rent: 360

Total: 1480

Outgoings:

Water: 20
Gas/Elec: 42
Council tax: 120
Mortgage: 550 (interest only)
10k loan: 100 (Interest only)
Tv licence: 11
Food:100
Car: Tax, MOT & Insurance paid till November
Petrol: 10 (not using it much)
Presents:20ish
Ground rent/service charge:100
Mobile:40
Egg card:20
Pet:5
Total:1138

I don't have a land line nor an ISP, and I am tied into my phone for ages <doh>

I have recently joined Pigsback, Quidco and started selling on Ebay and Amazon and this cash is going towards a holiday fund as my OH doesn't have any of these issues and wants to go away somewhere nice.

Anyways enough of me prattling on!

Hope everyone has had a lovely evening! And thanks again for all the excellent advice!:T

rog2

Hi Shiney - welcome to DFW:beer:

You seem to be doing quite well, but that mobile bill is a bit high - see if you can change tarrifs.

cocalls

hello there and well dne for posting
YOur food for one person seems a bit high-check out the old style board for menu ideas i reckon you can cut about 20 quid off that without even trying-make sure your taking a pack up to work.
Are you charging your lodger the normal rate for the area-does that include the bills aswell?
Phone up the water company and get it spred out over 12mths (try the council aswell for council tax altho some councils do this some dont).
Again ring up mob and all the other companies and see if you can get a cheaper tariff(If you dont ask you dont get!)

Good luck

nonsensefactory

Please don't shout at me for this : can you really afford to live in a hugely expensive area ? If/when your lodger moves out you're going to have a problem unless you get someone else in ASAP. Is there any chance you could at look at selling-up and move into cheap rented for a while or maybe move to a less exclusive area ? Another option might be to take on a second job maybe ?
I think on a salary of 20 or so K pa that I'd have a real problem with a interest only mortgage of £550 + £100 pcm ground rent. To service this kind of a mortgage (remember you've got to pay back the capital) you need to be on £30 to £40 K pa realistically. Sorry to sound a bit pessimistic but it really sounds as though you need to consider these options - if you can sell up and move to cheap rented, or back to parents or maybe rent a room for a year or so, you'll be able to save like mad and move back into the housing market with a deposit later ?