Things can only get better

IzzyBee

We were in the same position SA I only had a small mortgage when my hubby became ill so I could manage although I had to take on extra work but the relief is fantastic when it is paid

abba1772

I can’t  wait for my mortgage to be paid off but I’m aiming to get this done before I’m 50 so I have 12 years to clear just shy of £60k

alt80

Said before 100% res home mortgage cheapest finance you’ll ever get. Don’t want to have a massive LTV though. 

Ha never buy an ex-LA house, 100% the neighbours will be terrible. Bought a few of them to let, has worked out OK tbf but not a hope in hell I’d ever live in a council estate myself. Pick the area first, property second if you’re working to a limited budget. I chose the area I wanted to live in when I used to live in flip projects before I bought my res home and stayed in area for res home. Worked well because the area is desirable people want to live here so find the right project and you’ll add value to the property which will enable you to stay in the area you like and move up the ladder. 

RelievedSheff

alt80 said:

Said before 100% res home mortgage cheapest finance you’ll ever get. Don’t want to have a massive LTV though. 

Ha never buy an ex-LA house, 100% the neighbours will be terrible. Bought a few of them to let, has worked out OK tbf but not a hope in hell I’d ever live in a council estate myself. Pick the area first, property second if you’re working to a limited budget. I chose the area I wanted to live in when I used to live in flip projects before I bought my res home and stayed in area for res home. Worked well because the area is desirable people want to live here so find the right project and you’ll add value to the property which will enable you to stay in the area you like and move up the ladder. 

Sometimes you don't have a choice. We were on a limited budget when we bought our first house and our choice was even more restricted by the need for the garage and two off road parking spaces.

We would have loved to have been able to live somewhere better but we just couldn't afford to at the time.

alt80

@RelievedSheff doesn’t help you now but when I started out I too was working to a limited budget. I chose my area, bought a 1 bed flat for my first property. Sure I could have bought a larger property in a worse area but knew I’d do better picking my area first. Didn’t have off road parking for more than 1 car or a garage until I bought my current res home just made do.

Sun_Addict

Have web chatted with the building society and I can overpay £1500 up to 1 August this year, then another £1500 after 1 August. This will leave a balance to clear next July of just under £1200. That will be the additional borrowing gone. If I was feeling flush I could also overpay the mortgage but I think I’ve got enough on at the moment with the work that needs doing on the house, building up the emergency fund and a holiday (whenever that might be). It’ll be paid off in 3 years or less anyway.  It’ll give me an incentive to stick to a budget if nothing else 😆

RelievedSheff

alt80 said:

@RelievedSheff doesn’t help you now but when I started out I too was working to a limited budget. I chose my area, bought a 1 bed flat for my first property. Sure I could have bought a larger property in a worse area but knew I’d do better picking my area first. Didn’t have off road parking for more than 1 car or a garage until I bought my current res home just made do.

We had to have a garage for the Sierra. No way could that be left parked on the road or in a car park even back then. It definitely would have been gone in 60 seconds.

If we could have found a property with what we needed in a better area for our budget we would have gone for it, trust me. We scoured the Sheffield market for months. 

RelievedSheff

Sun_Addict said:

Have web chatted with the building society and I can overpay £1500 up to 1 August this year, then another £1500 after 1 August. This will leave a balance to clear next July of just under £1200. That will be the additional borrowing gone. If I was feeling flush I could also overpay the mortgage but I think I’ve got enough on at the moment with the work that needs doing on the house, building up the emergency fund and a holiday (whenever that might be). It’ll be paid off in 3 years or less anyway.  It’ll give me an incentive to stick to a budget if nothing else 😆

Can't wait until we are down to that sort of figure. 😀

beanielou

Always good to have a plan.
I am eternally grateful that my wee house is detatched & our road is a dead end.

beanielou

Did I mention I am mortgage free soon   
& for those who dont read my diary then believe you me I have had times I thought I could not afford to pay my mortgage & I was going to have to sell my house.
It has been a long hard slog.
Sorry SA.