Minnie Mortgage Wannabe

Minnie2019

Hello :j

I have read many, many DF diaries over the years and have recently started to read some MF diaries. They are so inspirational and fascinating to read.

After several years reading other people's diaries I am going to start my own diary. I very luckily don't have any debt but I also currently don't have a mortgage so I wasn't sure where to post my diary, but since this is a diary detailing my journey to becoming a homeowner I figured this would be a good place.

A little about me, I am 45, live in the South East in a very expensive town. My husband and I used to own a property many years ago but due to owing roughly £24k in debt, we decided to sell it, clear the debt and rent. In hindsight we should have battled through the debt and if I had come across this site then, I have no doubt I could have cleared the debt eventually but never mind. Obviously being 45 means that if I don't sort it out soon I may run out of time. Certainly don't want to be renting in my 60's!

We are a family of 4 so need a 3 bed, but round here the cheapest 3 bed is approx £300k. We have a joint take home salary of 50k but still seem so far off getting a mortgage. There are a few help to buy schemes but properties are for £360 :eek:

Anyway I am going to plod on and get some form of deposit together. I currently have £11250, which doesn't seem a lot compared to what I need to get. I am going to set myself a target of £25k to start with then increase it after that.

A lot of diaries on here are witty and make really good reads, hopefully I won't bore you with my ramblings. Any advice, tips would be fab.

Thanks for reading :T

A_Frayed_Knot

:wave: Hi, and welcome.

I know your feeling well, I was very late to the party, however it's a bigger challenge and makes you even more determined.

There is a thread Mortgage Free in 3, Take 5, (MFi3 T5) which anyone can join, as it's not only for o/p the mortgage, it is also for savings, you decide on your target and every 3 months you post your update, but can post along the way as well. May be a good start for you.

Everyone else will be along, soon enough and give more help and tips.

Good Luck with your journey.

Minnie2019

Great and thank you, I will take a look. Aiming to save £1750 this month to get my balance to a nice round £13000.

supersaver1000

Hi Minnie

I was just looking for some Mortgage Wannabe threads and came across yours. I know you haven't posted here since January but hope things are going well.

I'm in a very similar position to you. We sold our house and cleared debts a few years back. And same as you I have wondered if that was the right thing to do - but it was the right thing to do at the time (and no point worrying about what you can't change).

We're also in a position where we can think about buying again but there are a lot of buts. We love where we rent, don't really want to move and not sure if we could afford to buy it/or somewhere similar. I am pondering doing a buy to let - perhaps somewhere we could downsize to in a few years time. Or maybe just keep saving and/or paying into OH's pension. I'm 10 years older than you, so it feels a little more urgent.

Anyway, I hope you come back and post again soon, would be great to follow your journey and it would be encouragement for me.