Get a grip !

Skint_yet_Again

Soup was yum 😋 Cant sleep again tonight, too much stuff in my brain 🤯 so I am going to try and dump it here. To do list

- write letter for DS to give to financial advisor/ mortgage company re gifting the deposit & not wanting the money back. 

- sort out my stuff around the house and be ruthless with the decluttering 

- pack a few things away so that DS & gf can have more space once they are paying the mortgage 

- prepping to move my desk from the living room to the spare bedroom so DS and gf can have the living room. 

I will use the kitchen/ diner sofa & tv in the evenings once they have bought the place until I move out. They offered for me to keep the living room until I move out but I don’t think that is fair when they are paying the mortgage & I don’t know how long it will be until I find myself somewhere to live.  I always offered for them to share the living room when I am not working, but they chose to “live”in their bedroom (they have the largest bedroom double bed, 2 wardrobes, 2 chest drawers & 50” tv still plenty of room) and use the kitchen sofa / tv around meal times. 

Skint_yet_Again

Finances
sale price £290,000
mortgage £21256 (Dec statement)
gifted deposit £20000
remaining £248,744

Savings £10000
Current savings £300 a month increasing to £500 a month once mortgage paid off 
Selling
legal fees £??
mortgage admin/ redemption fee??
no estate agent fees

MovingForwards

Email 3 solicitors and ask for quotes. 
- you can even ask in cheaper counties as all you're doing is selling and they don't need to know the quirks of the land / council etc.

Look on your lenders website / latest statement and it will confirm what the redemption fee is, usually less than £200.

Skint_yet_Again

Bit of good news there is no mortgage exit admin fee with N wide if you have less than 10 years left on the mortgage. Term left 8 years 10 months currently on base mortgage rate (BMR) so no early repayment charges (ERC) either 🤗

Have walked the dog and we just missed the pouring rain. Crumpets with butter and hot chocolate for breakfast 😋 Just about to start working from home. So glad it’s Friday!

MovingForwards

That's great news! Looking at the fee it would have been a lot lower than the average.
Solicitor fees shouldn't be loads just for a sale.

Great breakfast for a Friday 😊

Skint_yet_Again

Chicken Kiev and spicy chicken for lunch from freezer and stew for dinner. Finally got round to steaming and freezing the broccoli and cauli and leftover swede. Had some with stew from freezer heated in the microwave. 

Busy day, by the time I finished work I had brain ache. Having had several naps I am now in bed hoping for a better sleep tonight. 

Credit card bill has arrived (via e-mail)  and paid in full. I am trying to have a no spend on the credit card month as I now need to save as much as possible. 

Takeaway free days feb 4/28
no spending on cc feb days 4/28

Skint_yet_Again

Have fed the dog and will be getting up again soon to take her out for a walk. 

I have downloaded a few pdf brochures of properties similar to mine, selling for similar price, in my local area. I need to see if anyone can print them for me, otherwise I will have to buy some printer ink. I will keep them in case there is ever any question about selling property to my DS under market value. They should show I am selling at market value, so should be no inheritance tax/capital gains tax/deprivation of assets. 

Plans for today 
walk the dog
clean bathroom
hoover downstairs 
more decluttering 
lots of resting in between

MovingForwards

Can you print them at work?

Under market IHT is only a 7 year thing.
Doesn't apply to CGT as it's your primary residence.
DoV wouldn't come into play due to your age, as you're unlikely to claim benefits eg UC, it's not your intention to give away assets to bring yours down to within allowable benefit levels and your next home would cover care costs for a while. Also, it's not a large amount you're gifting as it still leaves you with enough.
You'll be fine on all accounts and I hope the above helps reassure you.

Plans look good.

Try and sell / giveaway / donate a few bits as there's always people who need things eg just starting out, starting over or going through difficult times.

Skint_yet_Again

I’m still not back at work / in the office MF, still working at home for the foreseeable future. When I do go back we can’t print private stuff. It’s ok I can get some black ink from wilko I think it was £12 last time I bought some pre lockdown. 

It’s a lovely sunny breezy day. Walked the dog and bumped into my friend with 2dogs so we had a walk together and a chat. Came home and had breakfast and a snooze. 

Towels are hung out to dry, flapping in the wind. Have emptied the dishwasher and cleaned all the worktops & tiles. Extractor fan filters are in the dishwasher and I’ve scrubbed the patio. 

Have put a few oven chips in to cook &am warming up some chilli to have with them for lunch. 

MovingForwards

Sorry, I thought you were in 1 day a week, think I got confused when you were doing your lates and shopping!

You've done a lot in a morning 😀