MF before I'm 57!

ScotinLondon

Just found your diary.. will subscribe.
Good luck with everything...

I started ACCA three years ago and now am on the professional papers, hard but worth it and in some cases, enjoyable too.

Keep plugging away with all the pots, things do have a habit of coming together.

SIL

Mfw2016

Another £100 went in the savings pot this weekend. I sold my chest freezer for £50 as there is no room for it in the new house so that went across. I also moved a spare £20 I had laying around and £30 which I would have paid on my TV subscription which I cancelled when I moved back to my mums.

I had the valuation on the house approved on Friday and my mortgage application was approved yesterday so all things are looking up and going ahead.

The flat (where my deposit is) is almost ready for completion so all is looking favorable and happy.

Xx

[Deleted User]

Excellent! Love it when you get a wee bit extra into the savings pots.

I can't wait till January so that I can start buidling up my savings again.

Eeeeeek so exciting.

Dxxx

Mfw2016

Not been on for a while. Felt like nothing was going to happen for a long time as I had to wait for confirmation from the local council that I was eligible to buy the property - its a discounted "affordable" house.

I went around and around again for weeks trying to find out who to speak to then, low and behold it was done and dusted in a 5 minute phone call and I had the paper in my hands 30 minutes later. That was on the 15/11. One week later I was asked if we can complete next Tuesday - 29th!

We are all on track and i'm going in to sign tomorrow.

All I have done since is work on my studying and on one of the weekends, I went to the old flat, opened most boxes and de-cluttered. I sent loads to the charity shop and loads to the tip but there are still over 20 boxes! I barely touched the kitchen stuff because everything was wrapped up nicely. I may just take each item out of the box, check what it is, see if I want it and if not, move it straight into another box to go back to the charity shop.

Maybe next time i'm on here I will be saying its all done! Fingers crossed (and toes)

x

Mfw2016

Well the mortgage will be sent to the solicitors and providing nothing disastrous has happened over the weekend, we will be exchanging tomorrow and completing on Tuesday!

Exciting times ahead but scary! I'm nervous but can't wait to move in.

If all goes to plan, on Tuesday I will get the keys, go down and see if anything needs doing. The rest of the week will be studying and cleaning up and then next weekend, we get the hire vehicle and we move my things in. I also have to find some time to pack the bits I have at Mums house!

Ooh an exciting busy week ahead for me!!
Xx

Maximum_Saving

Hi there. It is great that you have worked out how old you will be when your mortgage is paid off. I am pleased that you have looked into how much you can pay in overpayments. In my experience overpayments can reduce a mortgage term.

I began my 25 year mortgage in 2010. My first deal lasted for two years and close to the end of it I went to see a mortgage advisor. I had hardly paid off much in those two years. So I asked her how much per month my direct debit would be if I changed the term to 10 years. I began a five year fixed mortgage deal in 2012. Therefore it ends in 2017. Due to my overpayments I will be able to pay it off in 2017.

I am allowed to pay up to £500 a month more that my direct debit amount. If I wish to pay more there would be a 5% fee. I am using Regular Saving Accounts and overpayments to help pay off my mortgage. I will be 44 years old when my mortgage is paid off.

Kittenkirst

Remember you can use sites like freecycke & gumtree to donate bulkier goods which can save having to carry too much to the charity shop

Good luck for Tuesday!

Mfw2016

Hi all

Well I got the keys and I moved in last Saturday - was a very busy weekend. Bought loads of my furniture. Have a few things left to get and I have a few bills that will need paying. No problem I thought, when my flat sells I'll get 2K back.

Well fast forward less than one week and the flat sale has fallen through. It’s been 6 months and right at the last hurdle, they pulled out with no explanation whatsoever. Mum is trying to find out why after we have spent money getting papers from the council that they asked for and we have paid solicitor’s fees etc.

I am devastated. The whole reason for selling the flat and for moving and getting my own property was so that I could release my parents from financial strain but it’s just not worked. They are 60+ and are now responsible for a mortgage, which fair enough is only for 12 years, but it’s still a mortgage and my dad wants to retire.

I hoped that in doing this, they would be free and then when mum got her pension - dad could retire and they could go off cruising while they still had their wits about them, which is their favorite thing. Now the only choice is to rent it out and get someone in it helping to pay the bills.

I don’t know what to do to help. A very sad day today.

Mfw2016

Well the flat is rented, I received most of my cash back - the house is practically finished and I'm almost ready for Christmas!

Funny how time can change things....x

[Deleted User]

Aw fab.

I hope you have a fabulous Christmas.

Dxxx