Only freedom will do

velocity_girl

Lovely news edinburgher, congrats to your sister. And lovely that your wee one will have a cousin so close in age

edinburgher

AlexLK wrote: »

Thank you for introducing me to his music. Mind, you've made me spend money in the process as I've pre-ordered his new LP.

Last night was a strange one. I liked the mandolin, but the choice of tracks didn't wow me (liked the new song and the Queen cover).

Alchemilla

Lovely news Uncle Ed.

AlexLK

edinburgher wrote: »

Last night was a strange one. I liked the mandolin, but the choice of tracks didn't wow me (liked the new song and the Queen cover).

I liked the mandolin too. Can't say I enjoyed the song he picked in the middle of the show (the one he said his sister (IIRC) liked and he learnt whilst camping) but enjoyed the rest of the show.

edinburgher

A lovely and decidedly down to earth weekend. Fancy dinner from free M&S voucher on Friday, long walk in the park followed by a mahoosive cobb salad on Saturday and general relaxing today

Getting a bit crap at updating this, but lots on. Discussing where baby #2, new house and new (to us) car will meet. Thinking we need to buy new house within a year, baby #2 and new car at c. 18 months.

Plenty to consider, but nice to have some possible timelines to work to. Had been feeling a bit uncertain over the last few months as knew this was all on the horizon, but wasn't quite sure when things would fall into place.

As a result, lots of planning and saving ahead. Luckily football started up again, so made c. £50 from various MBs. £81 to savings to cover me for the weekend and next week. Work very busy, so my daily transfer/spreadsheet will have to go by the wayside.

That probably sounds a bit control freaky and matter of fact, but we probably have a relatively narrow window of affordability for getting the sort of house we'd like to raise our family in before the banks decide that we 'can't afford it'. I could explain our 50% savings rate, but I doubt they'd believe me :rotfl:

AlexLK

edinburgher wrote: »

A lovely and decidedly down to earth weekend. Fancy dinner from free M&S voucher on Friday, long walk in the park followed by a mahoosive cobb salad on Saturday and general relaxing today

Getting a bit crap at updating this, but lots on. Discussing where baby #2, new house and new (to us) car will meet. Thinking we need to buy new house within a year, baby #2 and new car at c. 18 months.

Plenty to consider, but nice to have some possible timelines to work to. Had been feeling a bit uncertain over the last few months as knew this was all on the horizon, but wasn't quite sure when things would fall into place.

As a result, lots of planning and saving ahead. Luckily football started up again, so made c. £50 from various MBs. £81 to savings to cover me for the weekend and next week. Work very busy, so my daily transfer/spreadsheet will have to go by the wayside.

That probably sounds a bit control freaky and matter of fact, but we probably have a relatively narrow window of affordability for getting the sort of house we'd like to raise our family in before the banks decide that we 'can't afford it'. I could explain our 50% savings rate, but I doubt they'd believe me :rotfl:

That certainly is a scary amount of planning! Not to mention you've only just had baby #1, can't quite believe you're considering another 3 months in. At the 3 months stage, Mrs K and I were ready for putting out son up for auction, before realising you can't do that these days. :rotfl:

Do you know something about the property market that no one else does re. affordability?

edinburgher

Do you know something about the property market that no one else does re. affordability?

Yes, I know myself

Affordability models are built around generic assumptions and averages that don't apply to even the vaguely frugal. All kinds of costs are built in that 'everyone has', except we don't.

For example, our grocery and petrol bills are tiny compared to standard assumptions, we don't pay for finance and have no unsecured debts. Then again, there are some positive areas where we spend more, including capital improvements to our home and savings.

I suppose it is the legacy of liar loans and overly lax mortgage lending, but the amount we can borrow has dropped dramatically over the last few years, despite a significant improvement in our good behaviour.

Keen to move before baby #2 as the banks will no doubt mentally deduct another £50k from the amount that we can borrow, meaning that our only option is to buy a 2 bedroom flat. Oh wait, we already have one of those...

Karmacat

I'm sure you're right about the assumptions that the "professionals" make, Ed - and as you also know yourself and Mrs Ed, well, you've got it made :T

Looking forward to seeing you beating the system

helibob

Affordability models are built around generic assumptions and averages that don't apply to even the vaguely frugal. All kinds of costs are built in that 'everyone has', except we don't.

When we were applying for a mortgage, I heard horror stories of people needing tons of backup and spreadsheets to prove affordability and, being the kind of person who keeps those kinds of spreadsheets, I thought, "Bring it on!" and was a little disappointed that it didn't happen.

AlexLK

Thanks, Ed. When I bought my house, it was still (just about) when banks would lend to anyone and 100% mortgages were still available, I know things have changed a lot since then, though.

I'd be quite interested to know what the standard assumptions are if anyone has the info?