Forever Home Fund

shangaijimmy

We had a similar discussion last night. I would be inclined to save the ERC for a few months and see what happens with the 2 leadership votes and see when we trigger article 51. You may get better deals around Dec/Jan too. Be prepared for savage cuts if Theresa May gets in as she'll move the givernment further to the right than dave!

katep23

Thanks Jimmy - am just reading through your diary funnily enough!

Theresa does seem the best of a bad bunch though - it comes to something when you are disappointed George Osborne doesn't run for prime minister :rotfl: Having never been his biggest fan (or Dave's) I suddenly find myself yearning for the "old days"!

We have decided to save for the re-roof so we don't have to decide anything right now. It will mean we can keep a close eye on our spending and see if we really can save £2,000 a month, if not where does it go?

Ran the figures for OH this week and showed him where our money goes is being spent and it was eye opening for both of us.

Some opportunities for savings and hopefully we are both on board so should make some progress with increasing our savings either for ERC or roof.

katep23

So I have set myself a challenge of making £1,800 in extra money from cashback, selling stuff and Youg0v over the next 12 months.

This will all go into the MOS rather than be OPd as we are saving to have the roof replaced.

Have today sent £9.62 from cashback and interest on current account.

FlacosFloozie

Hi Katep,

I think in your position, I'd wait for now. I think its likely that interst rates are going to come down short term, your ERC will decrease and, at the rates you're going, your LTV might improve enough to get you a better rate.

katep23

Thanks FF, I am sure both you and Jimmy are right.

katep23

Another £15.81 from cashback and bank account rewards - current total £25.43 / £150 for the month.

Got over £100 of tracked cashback in Quidc0 but nothing payable yet. No sales on FB or gumtree yet.

themadvix

Hi Kate, just been reading your diary from the start. Very envious of your home - we have 3 cars and are always regretting not having enough space for more and would love some chickens (and a couple of llamas and sheep.... yes, I'm weird!). So that's our forever home plan! Apart from the bright orange bathroom suite it sounds pretty idyllic where you are!

Not so envious of your mortgage, but you seem to be doing pretty well at getting it down! No words of wisdom about remortgaging/the state of the economy I'm afraid, but doing the roof has got to be a good thing - both for peace of mind and the LTV.

katep23

Hi Themadvix, we would like sheep too but not quite enough land for them. One day!

katep23

OH asked when we will be in 320s (never normally asks about this sort of thing, I think he gets bored of my MFW witterings!)

Told him it would be October but we will be at £330,195 in September and he suggested we should OP £200 to get there in September - yay!

katep23

Cashback very slow to pay out, got about £150 which should be payable soon.

£40 for selling fridge freezer yesterday, thought I would chance my arm at £40 but expected to get offered £20 or £30. Someone text about an hour after I listed and collected an hour later, no quibbling about the price

Current total £65.43 / £150 for the month.

Insurance paid out for cat treatment, need to query the amount but £200 transferred into savings as already paid the credit card bill.

OH new salary kicked in so he has transferred more over this month. Another £834 into MOS with £60 odd to come mid July, will be £1,100 for the month :T

Not bad considering we had a £4K credit card bill (including OH's expenses which are £about £1,500 per month). All on the cashback card.

I think OH is on-board with the mortgage-free idea, he was asking me the other day how we can do more :T