On a Mission

Mummy_bear

Morning. 

The house I fell in love with has been on the market just over 2 weeks and already under offer. 😭. It was a dream though. I'm in no way surprised that it's been snapped up. At least it's given us that push to finally sell up and get a bigger place. 

MB

Mummy_bear

Good morning

Been busy freshening up the house. It looks and feels so much better. Had the house valued and we currently have a £64k equity. A house a few doors down sold within a month of being on the market! So seems like it's a fast paced housing market... But we tend to not get such luck so don't expect a quick sale if we put it in the market. 

Had a phone consultation with a mortgage broker yesterday. She all took all our details down and will scour the mortgage market to see what we could borrow. My own basic, half hearted, mortgage affordability checks have given such varied responses. I think the issue for us is the need for a 4 bed house which obviously means a higher cost home. 

When giving our minimum debt repayment figures it was still in the region of £750 a month. I did stress I'm over paying like mad so actually the total debt owed will drastically fall with each month... But mortgage lenders obviously won't take our word for it. 

I was glad she took down our actual outstanding debt figures and credit reports are not being relied upon. They're something like 2 months behind! It still shows my HSBC card as having over 2k on there! 

Throw into the mix DH being in Furlough. Although the mortgage broker did seem to think if his employer provided a letter confirming employment we would be OK. I just hope his employer would do that for him. 

We'll hopefully hear something in the next few days as to what we could be offered mortgage wise. 

All of this has spurred me on to try and pay down this debt quicker. 

HSBC CC £870 £64 paid off 

Tesco Loan £2496.72 

Santander Loan £1088.15 

M&S Loan £2326.32 

DH MBNA CC £614.85 

Total debt paid off so far in July £1340.57

Total debt as of 20th February £13465.89

Total debt as of 19th March £12285.32

Total debt as of 20th April £11112.75
Totsl debt as of 17th May £9932.18
Total debt as of 17th June £8736.61 
Total debt as of 16th July £7916.04
Total debt as of 20th July £7460. 04
Total debt as of 30th July £7396.04

Hoping that the HSBC will be gone in Aug. In the final run now. It reminds me of my old Barclaycard where I did loads of little surveys in Qm3e resulting it little payments daily. Might try something similar to speed things up. Every little helps. 

MB

Mummy_bear

Signature update 


£39048.23 /£46444.23   84% paid

Mummy_bear

Morning, 

A few days have passed since our house valuation and we've changed our mind about an imminent move. DH contacted his work requesting something to confirm his employment and their intention of bringing him off furlough. We wanted something for a potential mortgage application as it would be stupid of us to go ahead and then he be made redundant.

They wouldn't give it stating they can't commit to something like that due to ever changing circumstances. I don't blame them. They even hinted that he may be on furlough until September if not beyond. He's understandably worried that a second wave could result in him losing his job and realistically not have another one to walk into. It's such worrying times really. 

So ultimately we're being sensible despite our need for a bigger house, we can manage a little longer.

We'll concentrate on getting rid of the remaining debt and maybe look into further overpaying the mortgage until the world is in a more stable place. 

The main advantage of DH being on furlough is childcare. We live in one of the affected areas of the new local lockdown measures. Yet again we can't use family for childcare... Unless in a public place. There's no way I'd expect my mum for 5 days a week to stay outside for 10 hours a day with an 8 year old, 4 year old and two 2 year old twins. What kind of mad suggestion is that. But if I paid a nanny or child minder they could come to my house or vice versa.

I have colleagues in a panic. My colleagues and I are frontline keyworkers. If we all have to take leave or unpaid leave etc for childcare there wouldn't be many left to work. It's shambolic really.

MB

Kitten868

Sorry for your disappointing news. As you say it is sensible but doesn't make it easy to hear. I suggest still doing the refresh for yourselves. Make you feel happier about being there. 
Keep your head up. The longer you wait, the less debt you'll have and the more money you'll have to cover fees and potentially borrow xxxx

Mummy_bear

Kitten868 said:

Sorry for your disappointing news. As you say it is sensible but doesn't make it easy to hear. I suggest still doing the refresh for yourselves. Make you feel happier about being there. 
Keep your head up. The longer you wait, the less debt you'll have and the more money you'll have to cover fees and potentially borrow xxxx

Spot on. We're still doing the full freshening up. We love our kitchen, looks new. Amazing what a little paint can achieve!

Also, hopefully, with less debt and more equity as the months go by it should provide better deals and better homes to look at. 

Better to afford the home we live in than not afford the home we want to live in.

MB

ohdearhowdidthathappen

The childcare sounds like a nightmare... key worker school was great during term time, but in the school holidays it's been so hard to organise!  Do the govt think key worker kids fail to exist in the holidays?  
Fingers crossed about your husband's job, all this furloughing is good in one respect, but leads to a lot of uncertainty.  Very wise to stay where you are until you know one way or the other, frustrating as it is

Mummy_bear

Good morning 

Currently on my second week of annual leave. Actually not felt too well for some of it. It's like my body can relax and be ill for a change! It's mainly been tiredness and fatigue, most likely linked to my arthritis 😔

Been spending some time on doing surveys and also revisiting the receipt apps that I'd neglected. 
Requested a cash out from r3ceipt h0g of £20. That'll go to the HSBC CC once cleared.
I could cash out with Sh0ppix but actually that builds up quicker and so I'm going to try and get to the last level for £20.

Found £130 sat in a small saving account through work. Withdrew that and put it towards the HSBC CC as well as the usual DD.

That CC is on course to being paid in full this month 🤗

Checked my work emails last night and saw one go out asking for volunteers to do overtime. I've put my name forward for this weekend. We'll see if I get that. 

I'm in the final stretch. I'd love to end 2020 having paid all the debt off. 

Then we'll see what impact Br3xit may have and revisit the whole house move plan. 
At that point I plan to split what was the debt repayments between mortgage overpayment and saving for house move costs.

HSBC CC £610 £260 paid off 

Tesco Loan £2496.72 

Santander Loan £1088.15 

M&S Loan £2326.32 

DH MBNA CC £614.85 

Total debt paid off so far in August £260

Total debt as of 20th February £13465.89

Total debt as of 19th March £12285.32

Total debt as of 20th April £11112.75
Totsl debt as of 17th May £9932.18
Total debt as of 17th June £8736.61 
Total debt as of 16th July £7916.04
Total debt as of 20th July £7460. 04
Total debt as of 30th July £7396.04
Total debt as of 4th August £7136.04

MB

Mummy_bear

New payments to report. Nothing much else happening. We're just determined to get this debt gone before the stamp duty kicks back in. Still nothing in DH job other than the suggestion he stsrts back in September. However, they've been saying this for months now so I don't know.


HSBC CC £0 £610 paid off 🎊🙌👏 all gone 

Tesco Loan £2496.72 

Santander Loan £1088.15 

M&S Loan £2326.32 

DH MBNA CC £300 £314.85 paid off 

Total debt paid off so far in August £1184.85

Total debt as of 20th February £13465.89

Total debt as of 30th July £7396.04
Total debt as of 4th August £7136.04
Total debt as of 16th August £6211.19

A huge chuck so far off this month and still the loan payments to go 😊

MB

PurpleFairy26

That debts coming down swiftly. You’ll have no CC debt in no time. Will you be able to over pay the loans?