Project Mortgage Neutral Begins

ajmoney

I had a crazy idea about buying Mr AJM out of the house today so he could move quicker and it would give me time to think about where I want to move but I think it will be stretching me far too much, even in the short term. I have also looked at how much mortgage repayments would be on the kind of price I am looking to pay. I am unsure whether to opt for a 25 year mortgage seeing as have the time or keep the term about the same as we are on now. If I go with 25 years, repayments would be about £450 a month which would leave plenty for OPs.


Christmas wise I am just about there, just a small gift to organise for my nan. I am heading to my mum's tomorrow so need to pack tonight and look at packing for Slovenia too as I will have less than 24 hours here once I get back.

A_Frayed_Knot

That is a great idea, only if you were thinking of staying there in the long run, and not buying out so Mr AJM could move out sooner.

You could always fix for the longer term to start with, (just to give you breathing space in the beginning). thus reducing monthly payments then once that fix has ended to reduce the years and up the monthly mortgage.

It is amazing just how you manage to adjust, and cope, and overpay

If it is do-able and you want to buy out, then go for it.


Christmas shopping for me is a nightmare, not enjoying it at all this year however a New Year and a New Me I am going to be organised :rotfl:


Have a great time over the festive period, will hear about your tales and decisions when you return.

ajmoney

Thanks for your reply.

I have always had trackers so am quite happy with that. I guess it will be easier working out what to do once I have a mortgage in principle and have found a house I like. I think we are putting the house on the market once I am back from my holiday so will start looking at estate agents. I have never sold a house before as we part exchanged last time so it took all the hassle away.

ajmoney

2 days at my mum and dad's, I have already had enough and I still have 5 to go :eek: this is the first time I have spent this much time here in about 15 years, it is kind of relaxing but I am not one for doing nothing and it is hard to escape to get time to myself.


I am using the time to decide how to do my savings moving forward, I may try and sort out a new account while I am here too.

Moneyfordreams

Best wishes to you.... I imagine after that length of time it is hard

ajmoney

I signed up for my first triathlon yesterday :eek: next stop is to buy a bike and feel comfortable on one!


With the end of the year and the beginning of the next I have a few banking things coming up. My regular saver account matures on the 1st, that will get moved across to my ISA and another one set up as soon as I can. Over the next week I will also bite the bullet and condense all my saving pot accounts into one that pays a better rate of interest.


I have signed up for the 2019 MFW challenge and set £3000 but with my circumstances I am not sure quite how this will work. We are continuing to OP while we have the house to hopefully increase the profit for both of us and get a higher deposit/lower mortgage for the next house.


I don't think there is much more I can do at this stage so will save every extra penny I can. First step is to increase my available money as an EF and have a pot of money for whatever white goods etc I will need to buy when I move house.


I hope everyone had a great Christmas, a whole week back with my folks has been tough. 2 days until I get away to Slovenia, I definitely need the head space.

ajmoney

I have just reviewed my savings accounts, the accounts I thought I needed to consolidate are ones Mr AJM and I use so I am not sure there is much point as once everything is sorted out they will be closed.

EF, do you have it as money required for bills or full monthly wages?

pinknsparkly

Hi AJM, I'm sorry to hear about you and Mr AJM. I hope your trip to Slovakia is just what the dr ordered!! To answer your question about EF: my personal view is that it should be enough to cover the bare minimum bills should you lose your job. If you're putting a decent amount into savings or to make mortgage OPs or pay for nice holidays and meals out then my view is that those things would be put on hold whilst looking for a new job and so my EF would only need to cover the bare essentials to keep me going. Everyone will have a different view though, you need to decide which one works best for you!

ajmoney

It is my first morning in Slovenia, what an emotional 24 hours it has been. I had a rather tearful outburst before I left home yesterday and struggled a lot through the day. Flight delays and a very late arrival to the hotel didn't help. Off out for a walk around to see what is here and then maybe a longer walk later. Travelling is a huge passion of mine but doing it alone is rather strange, I may have to find a different way of doing things.

End of the year tomorrow, I have a notebook with me to come up with some money plans for 2019.

julicorn

Hi ajmoney, sorry to hear that you had a difficult day travelling yesterday. Travelling alone is so different, but can be hugely fulfilling and I hope that you get into the groove over the next few days and have an amazing week in Slovenia!

All the best for 2019 x