It's not a lot, but it's enough

jvr

Not sure how you add them in to mortgage payments think all our costs came to about 3,000. We went for 30 year as kept monthly payments low and plan is when out of debt to pay the extra as over payments to bring it down to a 25 year mortgage. The main reason being is that it keeps what we 'have' to pay low. we went with mortgage advisor from Manning Stainton and it was 400 for life so we can contact them for any renewal or when we sell and it won't cost us again. For me it took a huge amount of the stress away

Verbatim

I found mortgage advisers keen for us to add all additional costs on to the mortgage. Perhaps their pay is a proportion of the total borrowed? It does sound more affordable monthly. BUT you'll be paying interest on all of those extras for the life of the mortgage, 25 or however many years it is.

louby40

Speky it just doesn't make financial sense to pay those costs out of your mortgage.

If I'd added £8k to my mortgage at 2.5% over 25 yrs I'd pay £5k in interest. That's the cost of a small second hand car.

You will have to add those costs to your mortgage so if your fees are £2k you will have to borrow that as extra as they take it automatically out of your mortgage when all the money gets moved. So instead of borrowing £106k I'd have to have borrowed £113k. My fees were paid from the sale of my house.

Then I borrowed what I needed to fund my new house.

CP2016

My arrangement fees were partially paid by the provider with the rest added on to the mortgage. At the end of the first year I paid a lump sum off the capital that was equivalent to the fees and associated interest - it was a separate line in the mortgage. So then I think I was where I would be if I hadn't added the fees to the borrowing. I couldn't find the extra cash at the time I took out the mortgage but I did manage to save it over the first year I lived in the new house.

SpekySquarehead

I had considered that JVR that i'd be paying interest for 3 decades and I know it's terribly short sighted. I read the guide on MSE and like you said CP, some lenders cover certain costs. I suppose it's something I'll need to decide at the time when I know exactly what the figure is.

SpekySquarehead

Morning everyone,

Yesterday was a planned spend day for me as I got my food shopping in for the week. Started off at Lidl then anything I couldn’t get there I went to Tesco. I also used the spend day for some things off the internet, mostly in preparation for my friends stag do in March – a nice tight latex dress. Plenty of cooking various ketogenic (the diet I’m on) recipes, some of which were lovely, others not so much. My mum made a strawberry pavlova and I couldn’t help but have a tiny bit. First in 3 weeks, so it was deserved.

Up and at em today. Been to the gym and I need to go to the Post Office at lunch to send off my laptop I sold on eBay for £76. After work, I have badminton with my mum and step-dad which will be a good laugh as always. I’m going to make soup tonight and freeze of portions then aim for some reading before bed, that’s the plan anyway.

Light came on in my car saying it’s due a service. I think I’ll put it off for a while as I grudge spending more given I spent a chunk earlier this month on it’s MOT. The joys.

SpekySquarehead

Hello all,

Happy Burns Day to all.

I decided to look out my 2-piece dark red tartan suit today for an event I had at Stirling Uni. I’ll maybe even have a dram tonight too.

To get to the venue this morning, I drove through a town called Bridge of Allan. A lovely little place. The last time I was there was with an old girlfriend of mine and it was our last break away together and we had a ball. I stopped by a caf! we visited and treated myself to a coffee (£3). Guilt free, as it was always going to be a spend day as I have footie tonight (£3.50).

It’s been confirmed that I’ve to work tomorrow evening at a Burns Supper my work are hosting. I won’t be paid for it but I’ll probably get the time back at some point. I may however have to pay for parking as the event is in the city centre. So tomorrow might be a spend day but I hope not.

Not sure quite how I’ve managed it but I’ve £50 cash extra than what I had in YNAB. So I’ve tucked that away for next month which will be my tightest ever. A challenge that I’m looking forward to just as much as I’m dreading.

louby40

Wow what a sight that would be to see - you in a tartan suit :rotfl:

Enjoy your evening:beer:

Drawingaline

Hope you are having a fun evening. I hope I find an extra £50 after I get paid tomorrow lol!

SpekySquarehead

Morning all,

Lovely morning here. The sky is cloudless and a lovely pink fading into blue with a nice nip in the air. Wish I was off work as it'd be perfect for a morning walk.

Yesterday was as expected. Made dinner with the intention of doubling up and taking it in for lunch however there wasn't enough. So I've a tupperware filled with greens and no chicken, meaning I'll have to nip to the cafe and buy something for a couple of quid.

Tonight is my works Burns Supper, so I'll be working until 11pm however I'll need to drive to the venue and park my car which I recon may cost about £5. A low spend day which I can live with.

Tomorrow is my colleagues leaving do. She's about to go on mat leave so we're going bowling (which has been paid for, £10) but I think we're having something to eat too so I'll need to account for a bit more on the night itself.

Wish me luck for today. Plenty coffee I recon.