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Diary of our £230,000 mission

24567…14

Comments

  • new_mortgageeee
    new_mortgageeee Posts: 118 Forumite
    Eighth Anniversary
    Wow - impressive stuff! Good luck with your mission :) will follow with interest.

    I'm a bit of a newbie - teensy mortgage (shared ownership) currently, though looking to upgrade in the near future - nowhere near London though, so less eye-watering amounts. Look forward to seeing your numbers going down as inspiration!

    Leftover roast veg straight from the fridge is my beans on toast - a perk of being single and no one judging ;)! Nom nom nom.
    - Mortgage 1 started Oct 2016 [STRIKE]£120,000[/STRIKE] £99,600
    - Mortgage 2 started Feb 2019 [STRIKE]£30,000[/STRIKE] £27,800
    - Student loan started 2009 [STRIKE]£16,413[/STRIKE] £7,500
    + New house fund £40,095/£40,000
    + Emergency savings £5,170/£5,000
    + S&S ISA £600
  • new_mortgageeee
    new_mortgageeee Posts: 118 Forumite
    Eighth Anniversary
    PrincessLou wrote: »
    Have you considered doing an SOA? It can be useful in seeing areas in which you could maybe cut your budget back a little.

    Complete newb to forums, sorry - what's an SOA, some kind of spreadsheet?
    - Mortgage 1 started Oct 2016 [STRIKE]£120,000[/STRIKE] £99,600
    - Mortgage 2 started Feb 2019 [STRIKE]£30,000[/STRIKE] £27,800
    - Student loan started 2009 [STRIKE]£16,413[/STRIKE] £7,500
    + New house fund £40,095/£40,000
    + Emergency savings £5,170/£5,000
    + S&S ISA £600
  • pollyanna24
    pollyanna24 Posts: 4,390 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    new_mortgageeee wrote: »
    Complete newb to forums, sorry - what's an SOA, some kind of spreadsheet?

    Statement of affairs. A list of all your incomings and outgoings, so people can pull it apart (in a nice way) and try and save you money.
    Pink Sproglettes born 2008 and 2010
    Mortgages (End 2017) - £180,235.03
    (End 2021) - £131,215.25 DID IT!!!
    (End 2022) - Target £116,213.81
  • chelseablue
    chelseablue Posts: 3,303 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Just been playing round with the overpayment calculator on here.


    Our current term is 34 years.


    If we treated it as a normal 25 year term mortgage we need to overpay by £200 every month.
  • chelseablue
    chelseablue Posts: 3,303 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Just an update: We completed on our purchase on Friday and the actual amount we owe including the mortgage fee that was added on is.......


    £231,294 !!!!!


    Im off to lay down in a dark room
  • pollyanna24
    pollyanna24 Posts: 4,390 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    chelseablue wrote: »
    Just an update: We completed on our purchase on Friday and the actual amount we owe including the mortgage fee that was added on is.......


    £231,294 !!!!!


    Im off to lay down in a dark room

    Congratulations!!!

    But you have a lovely house now, right?!
    Pink Sproglettes born 2008 and 2010
    Mortgages (End 2017) - £180,235.03
    (End 2021) - £131,215.25 DID IT!!!
    (End 2022) - Target £116,213.81
  • chelseablue
    chelseablue Posts: 3,303 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Had a text from Halifax this morning, our first mortgage payment of £768.83 will be taken on 10th March.
  • pollyanna24
    pollyanna24 Posts: 4,390 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    chelseablue wrote: »
    Had a text from Halifax this morning, our first mortgage payment of £768.83 will be taken on 10th March.

    Well, they are better than Nationwide. I completed on 19th February and no mention of any payment anywhere yet for my second mortgage. When I rang up, they intimated that I would have a super duper high payment in April.
    Pink Sproglettes born 2008 and 2010
    Mortgages (End 2017) - £180,235.03
    (End 2021) - £131,215.25 DID IT!!!
    (End 2022) - Target £116,213.81
  • chelseablue
    chelseablue Posts: 3,303 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    pollyanna24 wrote: »
    Congratulations!!!

    But you have a lovely house now, right?!


    Not really it needs work :rotfl: :rotfl:
  • pollyanna24
    pollyanna24 Posts: 4,390 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    chelseablue wrote: »
    Not really it needs work :rotfl: :rotfl:

    So you can put your own stamp on it! Come on, look at the positives (I'm in a chirpy mood today!). Loads to do on my house too, but planning on budgeting for some of it, leaving some to do at a future point and other bits which probably won't get done ever! Haha.
    Pink Sproglettes born 2008 and 2010
    Mortgages (End 2017) - £180,235.03
    (End 2021) - £131,215.25 DID IT!!!
    (End 2022) - Target £116,213.81
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