sarahevie's single quest to mortgage freedom

CathT

Wow, really big changes happening for you at the moment.

beanielou

Do what is right for you.

sarahevie1

So disappointed with the Natwest, have just overpaid my mortgage and there was no option to reduce the term, just the monthly mortgage amount.

So for my £5670 overpayment my monthly payment will reduce by £26 - hardly seems worth it at all. I wanted to knock a couple of years off the term.

Onwards and upwards only a couple of years until I can remortgage, be free of the overpayment limits.

debtfreeoneday

How far are they away from you = would you need to change jobs?

sarahevie1

debtfreeoneday wrote: »

How far are they away from you = would you need to change jobs?

They live 40 miles away, but it takes about an hour and a quarter. It's all A roads with traffic. I can do it in 45 minutes on an evening, but not at peak times. When I was doing my PGCE it used to take 90 minutes.

One of my old geography teachers lives around the corner from me, his kids go to the same school as mine, so clearly it is doable, but it would be too much with the girls, I'd literally never see them in term time.

sarahevie1

Really disappointed with the estate agent as well. My house needs loads of work to rent out. It needs repainting throughout including ceilings and skirting boards. I need a new fence, my windows need re glossing on the outside. My bathroom needs retiling.

My house is 10 years old, and there are kiddy marks on the wall, but not many, I expected him to say we needed new carpets as they had marks on when we moved in, and they are worse now lol! He didn't seem bothered about them.

Also he only valued it at £800 per month which is what my friends get for their 2.5 bed terrace down the road, and that cost about £100,000 less to buy, so its not a very good return. I know with renting sometimes you can't get any more for houses that are worth more in value, but its still tricky.

AlexLK

Any reason for not selling?

sarahevie1

AlexLK wrote: »

Any reason for not selling?

Initially I'd like to rent when I move so I thought I'd keep on the ladder by renting out my current house. The house I'd like to rent is £695 a month, so by renting my house for £800 it pays for itself.

The other issue is I don't have spare 'cash' and I know my house needs sprucing up to sell. I wrongly thought I could get away with letting it as is, and then spruce it up to sell at a later date.

AlexLK

That all seems reasonable. Also, renting your house would give some flexibility if you wanted to move back.

A pity about it not being ready to let, though.

sarahevie1

Another lovely day at the local lido. We were there until it closed at 7.30.

Started the day at the local pancake place, I've never been before, but the kids have been asking since it opened a year ago and I like to support local businesses.

£20 spent, so not the cheapest, but DD1 bumped into a friend from school and has been invited on a play date tomorrow so I'm excited for her. It'll only be the 3rd playdate in 3 years at school so quite a big deal. She has lots of baby group friends (who go to other schools) who she sees regularly (usually three times a week) but it is nice to get to know her school friends too.

Although she goes to the birthday parties, I'm not there on the playground, so I do feel she misses out on playdates.