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From Flat to Farmhouse
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Perhaps I should be grateful but it was entirely routine yet the inexperienced vet that showed up insisted on doing x-rays 'to be sure'. I intend to move to a new vets and tell them that I'm not insured and I have a feeling this sort of thing is less likely to happen in future!
But for now the savings are looking a bit paltry with only £1397 in them, which does not a bathroom make! Starting to think about quotes now as the latest lodger has said she'll be leaving in a month or so.
Hoss moving this weekend so savings might take another dip as I stock up on bedding and hay, but that will be quickly compensated for with no livery to pay.
Monthly savings likely to be £262 now. Wah. £109.74 in TT OPs so far this month, not quite so wah.Mortgage Apr 18 £417,894 BTL Mar 18 £162,857
Mortgage now -- £350,085 BTL now --- £162,6680 -
Lodger has paid nice and early for next month so savings back up to £2,038. Just one more month's rent from her then a break while we do the bathroom.Mortgage Apr 18 £417,894 BTL Mar 18 £162,857
Mortgage now -- £350,085 BTL now --- £162,6680 -
I am awful at this. Going to attempt to keep track of June's food spends here and wittle down the budget as I go to try to limit the wastage.
Lodger has paid her final month's rent and the insurance company paid up. I think I will put off the bathroom for another year as I'm not home much and it doesn't seem to put lodgers off. It's fully functional, just a bit out dated compared to the rest of the flat.
Hoss is thankfully very settled at his new yard, and I'm really enjoying the DIY so the savings are looking healthy despite paying for lots of training and competitions. I have had a few interviews as well so I'm hoping that I will be well into the surplus soon, the Farmhouse dream is still alive and well!
Just £2.13 TT'd for now though, every little helps!Mortgage Apr 18 £417,894 BTL Mar 18 £162,857
Mortgage now -- £350,085 BTL now --- £162,6680 -
Good news that hoss is all settled. DIY livery is good for increasing your fitness too without the gym fees! You are certainly right every little helps.
Will you be looking for another lodger with the bathroom plans going on hold?0 -
Did I miss you getting a new partner, Floppy?0
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Fraid so, coming up to a year now. He is on board with the idea of buying me stables so is allowed to stay for now.Mortgage Apr 18 £417,894 BTL Mar 18 £162,857
Mortgage now -- £350,085 BTL now --- £162,6680 -
Goood! And congratulations!0
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EatingTheElephant wrote: »Good news that hoss is all settled. DIY livery is good for increasing your fitness too without the gym fees! You are certainly right every little helps.
Will you be looking for another lodger with the bathroom plans going on hold?
I think that and a focus on food this month should help! It's much easier to restrict spending than eating.
Yes I think I will plough straight on and get the next one in, am even thinking of going for a couple with more rent even if I go over the limit and pay tax. I have thought about renting it out as im hardly ever home but still want the flexibility of it being my home if that makes sense.Mortgage Apr 18 £417,894 BTL Mar 18 £162,857
Mortgage now -- £350,085 BTL now --- £162,6680 -
It never rains, it only pours! Being stitched up at work, which has meant I've had no energy to meal plan or indeed make a claim for my horsebox which was damaged the other week. The hoss appears to have duffed his leg and a rug, one of which has been replaced already. And I am still awaiting a contract with a mahoosive pay rise to come through the door and fix everything.
At least I have a good number of viewings lined up for the spare room so the lodger income should just roll on as usual.
But, I have at last sorted my next mortgage deal, a lovely drop from 3.99% to 1.15% fixed for 2 years with 10% over payment allowance, which I'm unlikely to go even half way through.
So I've now had the little flat for five whole years and made a total of £9,531.24 in overpayments, and takes the balance almost to a perfectly round £115,000 having started on £139,642.
I have had income from a lodger 56 out of 60 months, and managed the same for overpayments. My monthly interest charged was £418.42 at one point, next month it will be £111.15 and best of all, the value of the flat has gone up by £100k so my equity/Farmhouse Fund is around £160,000.
All of that and I managed to somehow sustain the most expensive hobby ever invented, which I'm labeling as the all important balance in life. Although I could benefit from a cash injection for an upgraded bathroom and horsebox very much right now, I resisted the temptation to take out equity during the remortgage, and am confident that I can save up and get things done when they are needed.
And best of all, the future is looking particularly orange. Next review point will be Christmas 2018 when I hope to have the mortgage down to £105,000 with £175,000 equity.
Phew! Good thing there's half a bottle of blanc in the fridge.Mortgage Apr 18 £417,894 BTL Mar 18 £162,857
Mortgage now -- £350,085 BTL now --- £162,6680 -
Very nice figures on the mortgage, especially current monthly interest! You're getting close to double digit interest amounts.
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