Getting a mortgage and then becoming mortgage-free!

misscousinitt

Well done you!

Keep pushing that mortgage broker - they are a pain in the bum!

MCI

Busy_Mee1

Congratulations - that is such exciting news. I have read through your diary and really impressed that you have started on the MF journey so early . My son (25) put a deposit on a new build last weekend and I was interested to hear your progress with this. He has the mortgage broker coming on Thursday - he is going to work through the numbers with him. Someone suggested he ought to use the Help to Buy scheme ( interest free loan for the deposit) but he doesn't particularly need to as he has a good deposit. Not sure myself - would need to see the figures, - did you look at this at all ?
He then has an appointment to choose the kitchen etc next Satuday and I get to help ( He is buying on his own ). He is very excited too and talking about over paying his mortgage from the start too

BookWorm

Brilliant news on the mortage confirmation :T

misscousinitt

Fab news on the mortgage...won't be long now!

I find that food budgeting the best way to save money - but food has the flip side of sometimes making you spend more...

Good luck with the next stage.

MCI

Kittenkirst

Morning!!

Excitedly today is D day so just off to the solicitors to part with our cash and sign our lives away (for the next 25 years!)

We then have to call the house builders to pay the 10% on the options too!

Expensive day, however it's the start of the biggest purchase for us both!

Pay day today so will update signature tonight once the deposit is paid and he savings are a little more bare! :O

Busy_Mee1

Brilliant news - how exciting. Congratulations :j:j:j

misscousinitt

Remember it won't be the next 25 years if you overpay!!

Good luck and congrats.

MCI

Kittenkirst

It's all official- contracts have been exchanged, and deposit paid on the house options now to save for the stamp duty (& extra if gf's flat doesn't sell :O ) and all the other stuffs now!!



So, deposit of £9500 paid and £250 paid for house choices (my half of both!)

Savings now at £1006.26 in std savings, £600 in regular saver with £300 to go in on the first of the month so £1900 out of £5000 saved so far! Now to tighten the belt further until September time!! :-)

Kittenkirst

Not much movement on the house front- have added a second tc socket in the second bedroom and paid for it (£61) but that's about it. All booked in to visit the site on a fortnight- excittttted!!

Trying hard with the minimal spending:
- pinecone survey completed (now at £12 woop)
- free postcode lottery most days
-packed lunches and snacks all days but one this week (and one lunch paid for by company due to all day meetings )
-car shared on the two days we were both in the office
- no expensive meals out!
- Bounts points all week except for Friday as struck down with a horrid cold/flu so feeling sorry for myself!)
-coffee from home for work, rather than canteen lattes

Have to eeeek out funds until the 15th- looks like even with two meals out (different friends not seen in ages) one at TGI- will be eating from the 2 courses for £10 then- and one at a beautiful Italian I should still remain in the black with savings in line

Reconciled the accounts spreadsheet and app and started trying to forecast funds for completion date

Kittenkirst

Statement of Affairs & Personal Balance Sheet

Summary

Monthly Budget Summary Amount(£)
Total monthly income 1,755.24
Monthly expenses (incl. HP & secured loans) 474
Available for debt repayments 1,281.24
UNsecured debt repayments 25
Amount left after debt repayments 1,256.24
Personal Balance Sheet Summary Amount(£)
Total Assets (things you own) 6,000
Total Secured & HP Debt -0
Total Unsecured Debt -1,480
Net Assets 4,520
Income, Expense, Debt & Asset Details

Income Amount(£)
Monthly income after tax 1755.24
Partners monthly income 0
Benefits 0
Other income 0
Total monthly income 1755.24
Expenses Amount(£)
Mortgage 0
Secured/HP loan payments 0
Rent 100
Management charge (leasehold property) 0
Council tax 0
Electricity 0
Gas 0
Oil 0
Water Rates 0
Telephone (land line) 0
Mobile phone 12
TV Licence 0
Satellite/Cable TV 0
Internet services 0
Groceries etc. 0
Clothing 20
Petrol/diesel 80
Road tax 12
Car Insurance 50
Car maintenance (including MOT) 20
Car Parking 5
Other travel 0
Childcare/nursery 0
Other child related expenses 0
Medical (prescriptions, dentists, opticians etc.) 0
Pet Insurance/Vet bills 0
Buildings Insurance 0
Contents Insurance 0
Life Assurance 0
Other Insurance 0
Presents (birthday, christmas etc.) 40
Haircuts 5
Entertainment 80
Holiday 50
Emergency Fund 0
Total monthly expenses 474
Secured & HP Debt Description Debt(£) Monthly(£) APR(%)
Mortgage 0 (0) 0
Secured & HP Debt totals 0 - -
Unsecured Debt Description Debt(£) Monthly(£) APR(%)
Barclaycard 1480 25 0
Unsecured Debt totals 1480 25 -
Asset Description Value (£)
Cash 2000
House Value (Gross) 0
Shares and bonds 0
Car(s) 4000
Other assets (e.g. endowments, jewellery etc) 0
Total Assets 6000