Room For Two

tori.k

Well after almost a year DH, me and halifax finally found a house we could all agree on.
DH and halifax get on quite well, but i've decided there not room in this relationship for three, so someone has to go, lucky for DH i've decided that its halifax

We have a mortgage of 140000 over 25 on a 5 year fix of 2.51 moving to current VR 3.99 so today would owe 209,489.94 :eek:
That's not happening
so we need to overpay right from the start, short term we are planning to get under 100k+ by the time the 5 year fix is up so a minimum £295 a month overpayment. first battle is to get moved and sorted with creating no additional debt
Once the solicitor and costs have been sorted we are pretty much only left with our 1k emergency fund this has to be added to as we will be the very proud owners of a combi boiler ( anybody who lives without central heating will understand my joy) its a relatively new build at 10 years old so everything is serviceable even if not to taste. so least we have the time to save for improvements wanted rather than works needing to be done.
Our possessions are a different matter everything been saved towards of deposit so we could do with a new sofa, have to purchase wardrobes and white goods as built in at the current home so things will be tight for a while, as we only 33k basic income between us.
we've been in tighter spots and managed so don't expect any different this time round.

Tjh1412

Happy shiny new diary; hope all goes well with the move

pennystretcher

Had to lol at your decision on Halifax being the third wheel Good luck on your MFW journey!

gallygirl

Aw poor Halifax - do they know the house isn't big enough for the three of you? Once you start getting 10 page annual mortgage statements they will work it out :rotfl:.

beanielou

Happy shiney new diary.

tori.k

Thanks for the welcome

Things are moving along quite quickly, had a stroke of luck with the vendors leaving a stated working washing machine and cooker, even if they only last a couple of months will help ease the immediate strain, money seems to be moving in one direction only as it does with moving.
I did a SOA for the new house short term it looks like we will £104 a month worse off in the new house, as i have no idea how much a gas bill will be as never had mains gas before so ive over estimated and our life insurance is pretty hefty due to a few health issues. the the council tax is cheaper and fuel cost for work will go down so confident it will equal out pretty quickly.

DH & I made a gentleman's agreement not to pop our clogs before the mortgage is paid as I for one would be most peeved to over paid for years just for the decreasing life insurance to pay the mortgage off
So in DH case as a diabetic it means green stuff for dinner :rotfl:

Think the biggest issue im having is getting my head around being in so much debt, im trying to think of it as the bank is my slum landlord, well he's not going to pay out for any repairs but don't think im going to have a good nights sleep this side of 15years I think once we are under the 100k mark I will feel more comfortable, DH just thinks im nuts but for my ease agreed to a slightly higher 5 year fix rather than the 2.
Im not naturally an anxious person, but this has me physically quite jittery with stress. I probably should ease up on the coffee.

tori.k

we've been playing with the figures a little more, we will have £500 a month spare to overpay the mortgage and bits for the house.
so decided to split this up with £300 to the overpayment, £100 for furniture and £100 for decorating for the moment. im very much determined that the credit card stays firmly in the wallet so its going to be a long old slog over the next couple of years.

The place desperately needs painting as I don't think its been done since the developer left the site, so it's still very much magnolia and cream carpet it was originally purchased as, it was a single older lady that owned the house so most of the carpets just need a clean and will more than do for the time being, but she liked her carpet so first off the bathroom, wc and kitchen has to be taken up and replaced with marmolum before we move in.
we should complete next week after the bank holiday, and neither of us can get time of work until later in May so will be slow process but least better on the bank balance. I have split days off work in the week and DH has the weekends so I can get in and wash the carpets and they should be dry so DH can follow with a paintbrush we will have to move in slowly over the evenings, and will have 4 weeks in our current rental so plenty of time to get this done.

First job to just freshly magnolia the whole ground floor, clean all the carpets and lay the lino in Kitchen bathroom and WC

Then plan to get the lads bedroom done first, at 20 years old, home is very much a cheap hotel so used more a storage locker, between work, college and friends/girlfriends he's not here often its worth getting it done first to stop his junk from migrating over the rest of the house. its a bit like owning a cat he comes in looking to be fed and then gone again.
Then we can finally move in.

tori.k

The start of the expenses 20l of magnolia paint 10l of white and a tin of white satin for £41
Ready for when we complete on Tuesday im determined to stick to budget as much for our own sanity as our wallets, we knew this was going to be a difficult year work wise to match up leave so sticking to budget has the added bonus of forcing us to stop at a point during each month allowing us to catch up with ourselves.
This is the most complete building we've ever moved into,everything is just cosmetic so luxury compared to the half building projects we've lived in before.

Our project plan has raised an eyebrow with my Sister who helped me measure up for curtains as we wont deal with the main living area other than freshening it up until probably next year, working from top down, that is only because we need new sofa's and don't see the point of properly decorating until I have the funds in place to replace those. and would rather pay once for quality then twice to make do. Any overtime I do over the next year will be set aside to help pay for those.

michelle09

Looks like you've got your work cut out for you, good luck!

tori.k

Well good news and bad news on a Easter Sunday, we've signed all the paperwork ready for Tuesdays exchange ( A friend is also our solicitor) so also had the completion statement bill for the cash to be transferred as soon as the banks open to get the ball rolling.
I also upset DH with the tenants in common vrs joint tenant. We both have grown children from our lives before so its practical that we are tenants in common with a beneficial life interest for their security, but I think I hurt his pride a little bit, that I would consider that he wouldn't take care of the lads he has raised and considers his own. Its not romantic but this side of buying a property shouldn't be anyway.

We are off flooring shopping today so hopefully getting back to the romance of creating a home he will forgive me. the fact im agreeing to go to Trago mills on a bank holiday weekend is more than punishment enough

try_harder

Yes good luck with the new move and welcome on board.