Booking myself in for an independent future

LeighofMar

Great job! 

BookmobileBadGirl

Just did a little TT this morning, now at £24,530

Am trying to have a low spend August, am doing quite well so far but am back in London for a week before the bank holiday and will be catching up with lots of friends.

In terms of beaus flat, the wrong price was put on the memorandum of sale so it looks like all the paperwork will need to be redone. Moving in early September looks less and less likely.

BookmobileBadGirl

Got paid so have overpaid for the month and got the total remaining under £23,000,

Five more months and it will all be gone 

beanielou

That's amazing.
That's a lot to clear in 5 months!

BookmobileBadGirl

Fortunately I am already mortgage neutral, my fix doesn’t end until February so rather than going to the 8.49% interest (from 1.43%j I will just pay what is left off from savings. Should be about £13,000

This all feels a bit cheating for MFW as once I have paid this mortgage off, I will save for a few months and then will take on the mortgage for the other 75% of the flat, and I will no longer be part of shared ownership but a full homeowner, so no more rent to pay. Which means more money to overpay the new mortgage. I know they will make me take out a long mortgage again as their algorithms never match my ability to save

South_coast

What is happening with your flat while you are in the North? Do you have a tenant in there?

BookmobileBadGirl

No tenant, partly because I am not allowed to under the shared ownership agreement, partly because I love my flat and the idea of others in there makes me uncomfortable, and finally because I stay there when I am back in London visiting friends. Also my younger brother crashes there sometimes depending on his work, but he did that when I loved there too

I could probably rent it out for £1,400 a month which would make massive inroads but due to above will never have that.

South_coast

Fair enough! I wouldn't want someone in my place either. It's one thing if you've bought it as an investment, but when it's been your home....

BookmobileBadGirl

Pay day has happened started my overpayments for October. Can only do 3x my monthly payment so have to do little bits.

but mortgage now down to £21,600

still my actual mortgage payment to come out and a third overpayment for October. 

No update on moving in with Beau, as his flat purchase seems to have stalled 

BookmobileBadGirl

Oh also, I still hate work. So have booked myself a holiday to Ibiza for a week (not the young fun part) 

wouldn’t normally be my location of choice, but looked at flights from my local airport that were cheap. I miss Ryanair £5 flights.

hopefully a week with a bit of sun, swimming in the sea and not thinking about work will get me through until Christmas. Have spent £400 on flights and B&B, will budget for about £150 for whilst I am out there.