22 Foxhole East

VintageHistorian

DH was asking me about a Brexit property crash the other day too. We're in our first home and while it's suitable for us, we bought it on the understanding that we would need to move in around 5 or 6 years time as it certainly wouldn't be big enough for future children once they're bigger and energetically mobile.

His concern was negative equity but I pointed out that I think we'd be shielded from the worst of that as we had a big deposit (15%) and we've been OPing since we bought the place. Not huge OPs but it all helps. Obviously I don't want there to be a price crash, or an economic crash, but I think the steps we've taken are giving us enough a bit of a buffer to ride out the initial storm, and then once we really can see the impact of it all (rather than just predicting) we can take further steps to shore up our position as needed.

f0xh0les

Exactly, you have to remember if your house price goes down, then the house you will be buying will also have gone down - unless you decide to move into London.

Negative equity + higher monthly interest rates on debt will be the major concern. The o/ps are the buffer, and as long as you don't lose money if you sell, you should be fine. It is still better than private renting - after all, if you sell after 5 years for the amount you bought for, you have had 5 years rent free, which you would not have had if you were renting - minus any work you have done on the house.

You have to think about Brexit, and for those of us who remember the property crash in the 80s and 15% interest rates, when some people lost their houses, and some, like my parents, it was when they could actually afford to get onto the property ladder. But interest rates do not suddenly jump up that high. There are warning signs as you say. That is why they stress test mortgages up to 10% interest rates. It seems unfair when rates are at the all time low, but understandable when you know the context.

kerri_gt

I worry quietly about the effect of Brexit, despite overall (once they sort out the shambles) believing that things will work out fine. Scaremongering stores about visas for places like Spain are just propoganda and spin imo. Spain is not going to shoot itself in the foot and decimiate their holiday market and put themselves in economic strife by making it difficult for brits to visit etc.

With regard to keeping paint, I read that you should put cling film under the lid, flip the pot upside down the name you can flip it back the right way. This forms the seal you were talking about f0xh0les but the clingfilm (in theory) makes it still easy to open.

f0xh0les

Ended up having quite a nice day.

Made scones, a tray of flapjacks and a berry sponge.
Took DS3 for an eye test, came back and watched bake off, supper was left overs for the kids - there was left over stew, left over biryani and left over casserole, it was more than enough for the kids. They were majorly unimpressed with microwaved stuff from the fridge, but it cleared a lot of bowls of single / double portions, ready for shopping tomorrow. We (the grown ups) had a toasted cheese sandwich.

Four kids bathed, house quite tidy, all laundry washed and dried, most of it folded and returned. PE kits found, swim kits found - admittedly it involved climbing into the back seat and disappearing half way under the passenger seat, but still, found, washed, dried and returned before tomorrow when it is swimming again.

Still no money in my bank account (boo!)

Lists written and a plan made for the coming week..

Twinkling candles all over the living room, it is supposed to be about 5 degrees outside in the morning when I get up. I still do not have a winter coat that fits. I need to get on with that this month.

The coming week is manic - one birthday, one options evening, one film night, one harvest festival and one cross country, as well as the normal after school clubs and the remedial GCSE product design for DS1 who was without a teacher for that subject for most of last year. This year he has a teacher and they have put on after school sessions to get them back to where they need to be. The lesson is quite disorderly, but the more disruptive members don't hang around after school to do the catch up lesson, so DS1 is making good progress quite quickly. Yay for the permanent teacher!

f0xh0les

Ok, pinch punch first of the month (and no returns).

Made a starting overpayment of £478.88, DH's payment goes out today, so will take until tomorrow to update on the online version (boo!), and then I will be able to update on the daily interest, and pay off the monthly interest and hopefully end up at £101,???.?? tomorrow morning. All this waiting!!

Paid off credit card IN FULL!

Going into October 18 with no debt, except the mortgage.

f0xh0les

Good Morning All,

Here is the news.
The current mortgage amount is .... (drumroll please)...........

£101,999.99

with a monthly interest of £134.66 for September, which was a daily interest rate of £4.48 every single day (that hurts me!!). Overpaying is saving me 5p every day though. Which means in this tenth month of the year, I am paying 20p less a day than I was in May.

So I have just done the money jiggle, and all the money is where it is supposed to be. All credit cards on empty, food in the fridge, love in my heart, pain in my bum. .:rotfl: :rotfl:not really, they are all still fast asleep.

Today is DHs birthday. He does not want anything, so I got him two. :rotfl: No doubt he will go on a buying spree and I will spend the rest of the week taking in parcels from grumpy men who cannot park their vans anywhere but double yellows, which obviously, I go out and paint in the middle of the night just to annoy them.

Right, only one kid to an afer school club, might just give him bus fare and instructions as to how to get himself home. He is 16 in less than 2 weeks and has never ever come home from school to this house on his own. - in the other schools he walked, so I know hs capable.

Off to update things.

See ya!

apple_muncher

Happy birthday to dh.

How did the oofsted visit go?

Massive congrats at paying down that mortgage!

Dobbibill

well done on your OPs.

you are really smashing it down


Happy birthday to DH too.

f0xh0les

All is silent on the Ooof!-sted front, which makes me think there may be a bit more ooof! than stead-y.

Not up on the website, still on 2014's report which was when it was 2 separate schools which did not do GCSE's - they had a 9-14ish age range and then you went to the college to do GCSE's 14-16. So they are unused to having to account for their teaching at a higher level.
The college got a terrible rating, so got an overhaul of the whole management system.

So waiting to hear the good/bad news, but I fear I might have to ask to get an answer.

XSpender

Well done on the OPs, you will smash that target.