Ruby's Bought a House, Now I want to Own It!

edited 30 November -1 at 1:00AM in Mortgage-Free Wannabe
274 replies 13.6K views
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  • ruby_eskimoruby_eskimo Forumite
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    Morning all!  So we decided to go with the Nationwide offer as it's a lower interest rate, we'll be paying more off the principle for the three years over the fix and we know we definitely won't be moving in the next three years so it just makes more sense.  Plus we'll be dropping the term so even better!  Have had to go back to the broker though as we were quite conservative with the initial valuation of the house but it appears that it could be worth £30k more (according to the Halifax) than what we thought so they're going off to crunch some more numbers for us.  If the Nationwide agree with that valuation then we'd be looking at about a 10% drop in the LTV straight away which would also be pretty amazing and maybe make us eligible for an even better rate (but not counting my chickens yet...)

    Had a productive weekend where we "closed" down the garden by pressure washing a lot of stuff and covering all the garden furniture and storing away the umbrella etc that we had out there.  Then we went to the local recycling centre and got rid of the last of the stuff in the garage that wasn't ours / needed to go.  Also managed to finally get round to organising all our important paperwork and getting rid of the stuff we don't need to keep anymore.  Had a big pile of shredding now but that can wait for a little bit in the box we set aside for it.  

    It's payday on Friday and I have money left over for the first time in a while.  Have put aside £150 to pay for train fares and food for a day out we're having in London next month and the rest will be going into the LISA on payday.  Might also start ordering Christmas presents then using the sinking fund money set aside for it.  I've already planned out gifts for a couple of people and might as well just get it ordered to make sure it gets here in time before I then have to post it off to the respective recipients.  

    Hope everyone is doing well.
    Emergency Fund - £6,100 / £10,000 :: Total Mortgage OP - £3566.50
    LISA 2021 - £1671 :: NSD September - 2 / 20 :: Weight Loss: 35 / 58lbs :: Decluttering - 1177 / 2001 ⭐⭐⭐⭐⭐⭐⭐⭐🏅🏅
    Engaged 9th December 2010 :: Married 29th October 2015 :: Bought a House 13th January 2017
  • ruby_eskimoruby_eskimo Forumite
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    Had a call from the broker last night and we chatted over the valuation for a bit and he agreed that probably we'd been a bit too conservative on our guess at a valuation so using the bottom end of Zoopla's estimate (which is still £13k less than the Halifax told us...) Nationwide are offering a 3 year fix at 1.59% 😲  Going to get the paperwork sorted this evening and fingers crossed it all goes through 🤞
    Emergency Fund - £6,100 / £10,000 :: Total Mortgage OP - £3566.50
    LISA 2021 - £1671 :: NSD September - 2 / 20 :: Weight Loss: 35 / 58lbs :: Decluttering - 1177 / 2001 ⭐⭐⭐⭐⭐⭐⭐⭐🏅🏅
    Engaged 9th December 2010 :: Married 29th October 2015 :: Bought a House 13th January 2017
  • LadyWithAPlanLadyWithAPlan Forumite
    310 Posts
    100 Posts Name Dropper
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    Had a call from the broker last night and we chatted over the valuation for a bit and he agreed that probably we'd been a bit too conservative on our guess at a valuation so using the bottom end of Zoopla's estimate (which is still £13k less than the Halifax told us...) Nationwide are offering a 3 year fix at 1.59% 😲  Going to get the paperwork sorted this evening and fingers crossed it all goes through 🤞
    Wow great rate and nice your home is sneaking up in value 

    Just put in an official offer for a flat this morning and my broker is quoting me 1.64% for 3 years as well with Nationwide - they seem to be the cheapest at the moment. 2.02% for a 5 year - but 3 years feels the way to go
    "We delight in the beauty of the butterfly but rarely admit the changes it has gone through to achieve that beauty." Maya Angelou

    Oct NSD 8/13      Oct  Groceries Challenge  13th  £95.56 of £160
    MFW savings 11/08/21  £67,711.70   17/10/21  ££72,195.81/£100K
    Oct savings  £2015.30      of     Goal  £2,252,81pm    
    SIPP               11/08/21     £26,644.38   02/10/21     £26,514.26  
    FIRE   exc home 12k pa 9.34%, 16k pa 7.01%. Current spend inc rent 8.01% FIRE
    https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest
  • ruby_eskimoruby_eskimo Forumite
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    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
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    That's a really great rate too @LadyWithAPlan!  Agree that Nationwide appear to be keeping rates low at the moment, just makes me laugh that they totally ignored us when we went to take out our first mortgage and now they're like "come over here, this is where all the best rates are!" 😆  Also agree that 3 years is the sweet spot for a fix - we always thought we'd move after our 5 year fix was done but 3 years gives us enough time to work out what we want to do and hopefully build up even more equity in the house.  Will be interested to see what valuation Nationwide give us when they have the formal application.
    Emergency Fund - £6,100 / £10,000 :: Total Mortgage OP - £3566.50
    LISA 2021 - £1671 :: NSD September - 2 / 20 :: Weight Loss: 35 / 58lbs :: Decluttering - 1177 / 2001 ⭐⭐⭐⭐⭐⭐⭐⭐🏅🏅
    Engaged 9th December 2010 :: Married 29th October 2015 :: Bought a House 13th January 2017
  • LadyWithAPlanLadyWithAPlan Forumite
    310 Posts
    100 Posts Name Dropper
    ✭✭
    @ruby_eskimo yes 3 years feels about right. My offer was rejected, I may go in £5k or £10k higher but looks like she was sold a higher amt by the EA  (these ones are renowned for overpricing) and not wanting to budge much ... but the saving continues...
    "We delight in the beauty of the butterfly but rarely admit the changes it has gone through to achieve that beauty." Maya Angelou

    Oct NSD 8/13      Oct  Groceries Challenge  13th  £95.56 of £160
    MFW savings 11/08/21  £67,711.70   17/10/21  ££72,195.81/£100K
    Oct savings  £2015.30      of     Goal  £2,252,81pm    
    SIPP               11/08/21     £26,644.38   02/10/21     £26,514.26  
    FIRE   exc home 12k pa 9.34%, 16k pa 7.01%. Current spend inc rent 8.01% FIRE
    https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest
  • ruby_eskimoruby_eskimo Forumite
    3.4K Posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭
    @ruby_eskimo yes 3 years feels about right. My offer was rejected, I may go in £5k or £10k higher but looks like she was sold a higher amt by the EA  (these ones are renowned for overpricing) and not wanting to budge much ... but the saving continues...
    That's a shame, I remember trying to negotiate prices when we were looking to buy our first place - stick to your guns if you think it's overpriced because it probably is!
    Emergency Fund - £6,100 / £10,000 :: Total Mortgage OP - £3566.50
    LISA 2021 - £1671 :: NSD September - 2 / 20 :: Weight Loss: 35 / 58lbs :: Decluttering - 1177 / 2001 ⭐⭐⭐⭐⭐⭐⭐⭐🏅🏅
    Engaged 9th December 2010 :: Married 29th October 2015 :: Bought a House 13th January 2017
  • ruby_eskimoruby_eskimo Forumite
    3.4K Posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭
    It's payday and the manual bits of the money shuffle have been completed.  We finally got our much promised pay rise this month as well as the backdated pay to April, so the extra £500 has been transferred straight into the LISA because I'm a bit behind on that this year.  Also had some leftover money this month, plus the usual transfer so it's looking a bit healthier now, or it will be when the money is collected on Wednesday!

    Just have today to get through at work and then we're off for a week.  Didn't really get much done in the office yesterday because we spent a lot of time talking about CPD (apparently I'm the expert on development opportunities in our department...) and now I really have a case of the CBA's but need to motivate myself to crack on.  Maybe a coffee will help!
    Emergency Fund - £6,100 / £10,000 :: Total Mortgage OP - £3566.50
    LISA 2021 - £1671 :: NSD September - 2 / 20 :: Weight Loss: 35 / 58lbs :: Decluttering - 1177 / 2001 ⭐⭐⭐⭐⭐⭐⭐⭐🏅🏅
    Engaged 9th December 2010 :: Married 29th October 2015 :: Bought a House 13th January 2017
  • LadyWithAPlanLadyWithAPlan Forumite
    310 Posts
    100 Posts Name Dropper
    ✭✭
    @ruby_eskimo yes 3 years feels about right. My offer was rejected, I may go in £5k or £10k higher but looks like she was sold a higher amt by the EA  (these ones are renowned for overpricing) and not wanting to budge much ... but the saving continues...
    That's a shame, I remember trying to negotiate prices when we were looking to buy our first place - stick to your guns if you think it's overpriced because it probably is!
    Especially as I went to a home renovating show yesterday ...the talks were great but what with building costs and labour increasing ... ouch . Think I will make a slightly 5-6k higher offer mid week
    "We delight in the beauty of the butterfly but rarely admit the changes it has gone through to achieve that beauty." Maya Angelou

    Oct NSD 8/13      Oct  Groceries Challenge  13th  £95.56 of £160
    MFW savings 11/08/21  £67,711.70   17/10/21  ££72,195.81/£100K
    Oct savings  £2015.30      of     Goal  £2,252,81pm    
    SIPP               11/08/21     £26,644.38   02/10/21     £26,514.26  
    FIRE   exc home 12k pa 9.34%, 16k pa 7.01%. Current spend inc rent 8.01% FIRE
    https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest
  • jennystarpepperjennystarpepper Forumite
    317 Posts
    100 Posts First Anniversary Name Dropper
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    You are doing an amazing job, I don't blame you for booking the holiday extras I would do the same as it is a long flight, I think it can work out to be money saving in the lounge because of the cost of food and drink in the airport. 
    MFW -  01 10 21. £63761
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