Mrs PG's Hopes & Dreams for a debt free future !

debtfreewannabe321

Hello Mrs PG, Hope the art exam went well for DD Keep going, you're doing a marvellous job xx

JustAboutThere

Happy belated birthday from me also. (Imagine birthday cake icon here - I'm never good at that stuff).

£25k for a mortgage. Yikes! Makes my less than £3k look a pittance. Mind you, think of me in a few years when I have to 'give' the majority of my savings to what is known as Abbey Crappy in my household (endowment mortgage). If I changed it to repayment at this late stage, it would cost over half my monthly salary.

Stay strong with regards others who add stress to your already packed life. xx

PinotGrigio41

AlexLK wrote: »

Pinot: Hope you're feeling better soon. £25K per year mortgage :eek:? Wow, that in itself is really rather scary, I thought mine was bad at nearly £9k per year. Is there really no way to reduce it?

Selling it is the only way Alex. We did sit down again last night to see whats around. That coupled with the fact we will struggle to get another mortgage as our credit rating is shot to pieces will make it a difficult to buy again. x

I added it up again, its actually £25,200 !!! Not that the extra £200 makes much difference ! :eek:

PinotGrigio41

debtfreewannabe321 wrote: »

Hello Mrs PG, Hope the art exam went well for DD Keep going, you're doing a marvellous job xx

The DFW, it went well. Day Two is today.

She came straight out of the art exam, into Graphics as they have given her an extra couple of days to catch up on the Coursework that she missed before it gets sent off next Tuesday. She arrived home at 6 and set to work from 7 until 11 on her Art Coursework as that deadline is today. She is exhausted.

All this before the revision for the real exams :eek:

PinotGrigio41

JustAboutThere wrote: »

Happy belated birthday from me also. (Imagine birthday cake icon here - I'm never good at that stuff).

£25k for a mortgage. Yikes! Makes my less than £3k look a pittance. Mind you, think of me in a few years when I have to 'give' the majority of my savings to what is known as Abbey Crappy in my household (endowment mortgage). If I changed it to repayment at this late stage, it would cost over half my monthly salary.

Stay strong with regards others who add stress to your already packed life. xx

This mortgage lark sucks Just About There.

I think we should all live in tents, chilled out in a nice field somewhere !! xx

in_need_of_direction

or follow the example of the germans and rent. not sure why we have the must own mindset

PinotGrigio41

in_need_of_direction wrote: »

or follow the example of the germans and rent. not sure why we have the must own mindset

Indeed. We have thought about renting. My worry is finding a long term let from an upheaval point of you for the girls. One of DD2s friends family rent and they seem to be constantly moving xx

I haven't completely discounted it though. Everything is food for thought. x

Skint_but_Optimistic

Theres a lot happening as usual Mrs P!

Renting takes away some security - just make sure its right for you. However could you downsize?

PinotGrigio41

Skint_but_Optimistic wrote: »

Theres a lot happening as usual Mrs P!

Renting takes away some security - just make sure its right for you. However could you downsize?

Yes we could, we would have to anyway if we were planning on reducing the mortgage and clearing the debt. Its still food for thought, but I have just realized tonight that it isn't an option for the near future, as I had completely forgotten that we still have the ongoigroof problems ( they were on the last diary, its been going on for that long ) and until that is rectified / resolved we cant go anywhere !!! :rotfl: Looks like this plan may have to go on the back burner. xx

AlexLK

PinotGrigio41 wrote: »

Selling it is the only way Alex. We did sit down again last night to see whats around. That coupled with the fact we will struggle to get another mortgage as our credit rating is shot to pieces will make it a difficult to buy again. x

I added it up again, its actually £25,200 !!! Not that the extra £200 makes much difference ! :eek:

I'm sorry to hear about this, Pinot. On one hand I think you would perhaps be much better off selling the house, clearing your mortgage and debt whilst renting for a bit then when things are better look to buy again.

I do not see how renting can be considered a long term solution though as all you are doing is lining somebody else's pocket. It must be great to be a landlord in Germany!