Budget Wars - A New Hope (with apologies to George Lucas)

Bobarella

Deleted_User wrote: »

I hate it when that happens :mad:

Everytime it does I think I wont make that mistake again and then lo and behold:rotfl:

Bobarella

Morning All

Looks like rain here this morning. Will need to get the washing in.
OH is WFH again so is up in the study. DD has just been asleep on me for her morning nap of around 45 mins.
Have so far managed to pack away yesterdays dry washing, unload the DW and then reload. And sweep the kitchen floor.
Have already had the standard 'discussion of doom' with DS about what we will do today. Me pushing for a trip to a different park with skate park and more importantly other children, him wanting a day of gaming. Or for me to just take him somewhere with a slope to practise his board. Feel like Im beating my head against a brick wall with him and have already taken some pain killers.

Oh well. Right almost 10 so I really am going to dig him up and insist on an outing. Back later

Bobarella

Angry afternoon all

So, our simple remortgage has gone about as wrong as it can do today. When last we heard our mortgage was on track for redemption before the next payment date, the 6th. I have micromanaged the process up to now as a lot is at stake. Our current payments are £668 pm. The new deal was supposed to get it down to £379. On the SVR the next payment was to be £978!!!
We have been working on this switch over for 2 months. As it is a BTL property attention was focused on rental value not property value.
When we first got into all of this we put the property value down as £475k. Today we discover that the surveyor has entered it at £410k. This alone is rubbish but apparently was based on what they had been told! So our broker is at fault as that was the value 2 years ago when we last went through this joyful process.
Still awake?
Today we recieve an emailed letter from our free legal eagles (rubbish) saying there is a 2k shortfall between the amount the bank has cleared us for and whats owing to redeem. On ringing the broker it then comes out that if we have the amount added to the mortgage as was our choice we would no longer qualify for the rate we had chosen. Utter BS.
The reason being because the LTV is wrong because the value is wrong. We should be around the 50% mark but the old value puts it into the 60s. Very annoying.
So now we are stuck making a payment of £300 more than usual on monday which ok we will get a partial refund on once the mortgage has redeemed but is going to take a lot of money out of our pocket until then. And just when we can least afford it.

So I am very annoyed. Our broker is usually brilliant but I am surprised how much has gone wrong this time around.

Apart from that today has been good. Took the kids to the local park for 3 nearly 4 hours, DS was practically swimming in the river there, & although he was soaked through had a great time. He also did manage quite a bit more skating. We bumped into a friend of his too which cheered him up.

Right DD is just off for a nap so Im going to sit down and have a cuppa.

Bob

[Deleted User]

Hugs to you Bobarella, hope the mortgage is sorted soon.

Sounds like you had a great time out with the kids.

Bobarella

Deleted_User wrote: »

Hugs to you Bobarella, hope the mortgage is sorted soon.

Sounds like you had a great time out with the kids.

Thanks PurpleMum Its just one of those times when you feel life is unfair. But whoever said it was meant to be hey!

Bobarella

Morning All

I had to confess to my OH that I've been feeling really down this week. Which makes me feel rubbish given all he has had to bear with his fathers illness. But its obvious Im a bit off beat this week.
He wasnt surprised and could empathise in the main.
Think my main reasons are
1. Have gone from a massively stressful work situation to nothing. In itself it is a good thing that I am out of if. But it leaves a vacuum that there is nothing immediately to fill it with. I am very much a doer and just sitting around all day is not easy for me.
2. I am not really getting enough exercise. Im used to walking a lot each day and pottering about with two small people isnt giving me the opportunity to get the exercise buzz I think I need.
3. I am worried about the new venture. It has to pay its way very quickly or I am in trouble. I cant afford to prop something up at a rate of £1000 a month which is what the fixed overheads will be for very long.

Now the reasons I need to get a grip.
1. I wanted to do this! I have hated having to put my son into summer camps every year before now and was excited to have the whole month off with him. Its not his fault that we dont live near a lot of his friends or have loads of money for a holiday.

2. The business needs time to get off the ground. I am TERRIBLE for thinking things will never work when all they need is a bit of time and energy. Once the ad goes out and the flyer is done and out enquiries WILL pick up. Its like buying a run down property and expecting it to be a palace the next day.

3. I am going to love my new freer life with time to take DD to baby classes, do the morning school run, meet the kids parents in the childrens lives. Maybe do some kind of course for me if it fits in enough. A million reasons why not being tied 100% to a location was the best choice ever. Im already cheering up thinking of that life now.

OH has gone to the office today so need to stir myself and get everyone up soon.

Bob

hugglemonster

Oh how frustrating for you, that's a massive difference when they get the figures right I hope it's sorted for you soon.

The mortgage payments are something I need to sort out in he future but not enough LTV at the mo and need to get contract sorted for second job to give us enough borrowing limit for outstanding amount.

Hope you have a good day H x

hugglemonster

This is a transition phase for you so things are going to seem a bit odd, as you say when school is back on and the flyers have gone out things will pick up and you'll have the contact with ds friends.

Hoildays are great but memories can be made at home x

This is the time to relax, enjoy time with the kids and get your plans in order ready for the busy time ahead!

Hope that doesn't come across as patronising but with lots of support.

H x

Bobarella

Huggle thank you so much for your kind words. I really appreciate them. So glad we have met

NoOneAround

Hi Bob,
Sorry you have been feeling down. The mortgage mess is really frustrating and has probably precipitated all your fears. You have taken a huge step for a better future and all the change is a lot to handle - SE isn't a smooth ride as you know - but remembering to remember all the reasons why you are doing this really helps - and you talked yourself through it in you post:T

I'm really feeling the rollercoaster you are on - all I can say is Hang on tight and Don't let go (of your dreams):)

Have a lovely weekend with your family.
xx
NOA