Best put on my big girl pants! my saving for a deposit diary

mumof3.12kindebt

Hi everyone I havent posted much as I've been working a lot.
Today we viewed a house and our offer was accepted.
:j exciting times :j

Can't believe we have got to this point.

Now to save even harder to make this possible

debtaghh

Fantastic news!

mumof3.12kindebt

Thank you :j

Out of the next 36 days I'm working 24 of them.

And I plan to fit in at least another 6 days.

Money wise everything is now on track for if the move goes through within the next 6 weeks.
We have no chain they have no Chain so it could be quick :eek:

We are also in the process of selling everything we don't need to take with us. :money:

Life is pretty busy right now but it will all be worth it . Lots of forms to fill in tonight.

Pay day tomorrow :j:j thats going straight to savings . :j

mumof3.12kindebt

Hey everyone.

I haven't posted much as been super busy.

I've got one more form to print and send.

We need to print off our statements and then send off all our paper work for the mortgage.

I have plenty of work booked up for this month. So we should be fine money wise for the house.

Still can't believe this is happening.
We were going to wait till the end of this year until we had more saved but they dropped the price and we would of only regretted it if we hadn't of gone for it.

New month which means I'll be money shuffling to put money up for aprils bills and to add to the savings.

Need to do my diploma work today and tomorrow.
And get all these last documents sent off.

I really hope this all goes through. We are relocating so I'll be looking for another job as soon as we move and commuting until then.

I'm not sure how long it will all take to go through. We also need to do school transfer forms for the boys.
Even on my rare day off at the moment I seem to be rushed off my feet. But once all this had gone through and everything is paid I will be able to go back down to my 3 days a week.

Our mortgage is £58 more a month than our rent is currently so very manageable repayments.

I'll do a breakdown of everything once it's all gone through.

We currently have £7353 in savings

Deposit for solicitors is paid. As long as there is no extras they haven't included the remaining balance is £850
We have paid for the home buyers report.
And we need £6500 for a deposit.
We should be able to add another £2000 to the total above by the end of the month.

So we should have £2000 left for any extras that may crop up.
The aim will be to save another £2000 in April if we still haven't completed. And so on until completion.

Our mortgage is £468 a month (2 year fixed rate) it will then go up to £550 . We have requested a 40 year term.
The plan is to overpay most months.

For 2019 once in the property our first priority is to build a £10,000 emergency fund. :money:

mumof3.12kindebt

Good evening everyone

The property is now listed as sstc

Providing everything goes through okay we will potentially be moving in may .

We should here if the mortgage has been accepted soon.

Once in the plan is
1. pay any remaining balances from the move.
2. Start building our 10k emergency fund
3. Decorate
4. Start overpaying mortgage
5. Save up and take the kids to disneyland Paris


I'm trying not to get to excited until we have the keys in our hand. .

This will be our forever home . Eventually we plan to do some major work to it to help the house flow better. But priority to begin with is the 10k emergency fund

mumof3.12kindebt

Finally completed my level 3 diploma !

debtaghh

mumof3.12kindebt wrote: »

Finally completed my level 3 diploma !

Well done!

mumof3.12kindebt

Still waiting to hear about the mortgage.

Expected completion date is may

I've been messing about with the overpayment calculator
Overpaying £900 a month would pay our mortgage off nearly 31 years early. Paying £29k in interest instead of nearly £110k

This has really gave me the motivation to overpay once we have £10k in the emergency fund.
If we hit the £900 a month In overpayments we will be 37 and mortgage free. I'm not sure how possible it would be but it's definitely give me motivation . I'd be happy to be mortgage free by 45 if I've calculated right that gives us 18 years and would need a monthly overpayment of £300

I'm really hoping it all goes through. And the overpayment calculator has really opened my eyes. Mortgage free by 37 what an amazing achievement that would be !

mumof3.12kindebt

Hi guys it's been 5 weeks since we put the offer in .
The survey is being done today.

We have paid £600 in fees so far. And since putting the offer in we have saved £2000

We should have £11500-£12000 saved by the end of April. Completion is expected to be in may

We haven't had our mortgage approved yet. They were missing documents which we sent last week.

Speaking to the solicitor today to see where we are at.

Everything comes down to the mortgage being approved and the seller accepting a 5% deposit.

Fingers crossed.

I have a rare day off today as I have the dentist.

I'm quite proud of how much we have saved doing all those extra hours is paying off.

:j:j:j:j:j

mumof3.12kindebt

We have received our mortgage offer. !!

We have been offered what we applied for.

I will post a breakdown in my next post


Fingers crossed it all goes through :T