I want to break free....

in Debt Free Diaries
165 replies 10.6K views
11112141617

Replies

  • savingholmessavingholmes Forumite
    19.4K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭
    Just caught up. So pleased you have finally got a job offer you are happy with and on better money. Things are coming together for you. Fantastic news.
    Target 1) Clear CC debt - SUCCESS 13/4/22 Target 2) Lose weight & get fit 3) Write regularly 3811342714/70000 words Book 2 4) Develop passive income streams 5) Get to £3K EF 6) Declutter 7) MFW starting at £201999 Nov 21 with 264 258 payments to go. Now £198132. 8) Mortgage neutral progress (via private pension starting value c£3643 Nov 21) extra payments £312 including tax relief
  • MovingForwardsMovingForwards Forumite
    14.4K Posts
    10,000 Posts Third Anniversary Name Dropper Photogenic
    ✭✭✭✭✭
    Just caught up. So pleased you have finally got a job offer you are happy with and on better money. Things are coming together for you. Fantastic news.

    Thank you :beer:

    The salary was always going to be better as it's full-time ;) needs must though, but I'm sure my new manager will be as understanding as my others about my health! The building has a lift so I can get around easy too :T I can't wait to start, get settled in and do what I do best. It still kind of feels unreal, however, I have got a permanent position, which has taken a lot of hard work and determination.

    It is finally all coming together, even if I am flopping around like a fish out if water picking what area to buy in.

    Hopefully by the end of this month I will have figures to work towards, solicitor in place and potentially house hunting :eek::eek: my to do list will start to have more ticked off. I've fairly low expectations for my home and will gladly take on a place that's outdated with an 80's kitchen / bathroom and general decoration, main thing is it will be all mine and I can do a room at a time!
  • MovingForwardsMovingForwards Forumite
    14.4K Posts
    10,000 Posts Third Anniversary Name Dropper Photogenic
    ✭✭✭✭✭
    Saturday update!

    1. Former DMC had admitted fault :D and upped their offer, will accept it and bank it for my mortgage costs!

    2. No other post.

    Positive ending for today:

    1. Went to two open house viewings:

    a. Had a look round the estate for the 2 bed flat, as I was waiting for it to start I went through the particulars, looked at ones that had sold and didn't view it in the end! The bathroom was a shower room (other sold ones were bathrooms), that garden appeared to allow the neighbour right of way and it wasn't much bigger than a yard, low fences too, the estate was from the 80's and very quiet but a professional gardening team arrived and started sorting all the local grasses, seems there would be some form of service charge - no thanks, the estate was huge!

    b. Made a huge mistake viewing property number 2 as I really like it. Well within budget, with money spare to do the initial bits.

    3 bed maisonette, with potential to board out the loft and get those drop down stairs in the hatch, so much storage space; 1 cupboard would be turned into a library room with a chair, the other would be my study. 2 bedrooms on the upper part, one I would have as a dressing room / walk-in wardrobe etc, the other would be the master bedroom, the 3rd bedroom would be the guest bedroom. Floorboards needed screwing down in places, whole place needed a good clean / disinfectant with all carpets / lino removed to aid getting rid of the cigarette smell. No cracking or signs of movement on the exterior.

    I would buy it, remove the floor covering, spend a month cleaning everything and airing it, paint it, get carpets / lino fitted and move in! Save for a year or two and change the bathroom / kitchen and live happily for many years :eek: (it's in better condition inside than my rental, even the sale property's kitchen / bathroom are great condition)

    I have requested the seller pack :eek: and have dropped my broker a message :o ooops.

    2. Viewing another flat tomorrow :rotfl:

    3. Conveyancing quotes requested so I have a rough idea on costs; done a generic upto £x and in x, y and z areas.

    Today was really good as I saw the potential, checked everything as if I was buying it and have a great benchmark for when I do buy.
  • savingholmessavingholmes Forumite
    19.4K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭
    Sounds exciting. We only rented as students and the 1-2 years after graduating - I can't imagine going back to rented now. I much prefer owning - and we've been lucky that our homes went up in value giving us a nest egg if we ever come to sell. We did have 5 years once where it didn't go up at all and potentially dropped about £3K. This house went down 10% for a few years when the recession hit but its made up for it now... Definitely make sure you have a strong emergency fund though....
    Target 1) Clear CC debt - SUCCESS 13/4/22 Target 2) Lose weight & get fit 3) Write regularly 3811342714/70000 words Book 2 4) Develop passive income streams 5) Get to £3K EF 6) Declutter 7) MFW starting at £201999 Nov 21 with 264 258 payments to go. Now £198132. 8) Mortgage neutral progress (via private pension starting value c£3643 Nov 21) extra payments £312 including tax relief
  • MovingForwardsMovingForwards Forumite
    14.4K Posts
    10,000 Posts Third Anniversary Name Dropper Photogenic
    ✭✭✭✭✭
    Sounds exciting. We only rented as students and the 1-2 years after graduating - I can't imagine going back to rented now. I much prefer owning - and we've been lucky that our homes went up in value giving us a nest egg if we ever come to sell. We did have 5 years once where it didn't go up at all and potentially dropped about £3K. This house went down 10% for a few years when the recession hit but its made up for it now... Definitely make sure you have a strong emergency fund though....

    It is exciting! I've sat with my phone calculator in one hand, pen/note pad in the other since getting back home! Everything has been worked out down to the last penny, train / bus timetables and season tickets all worked out, council tax checked, all bills prepared again ( massively over estimated them to be on the safe side).

    I have stopped flapping like a fish and decided it will be west, it's very affordable, will have choices from maisonette, house and bungalow and won't mean taking a mortgage for every penny possible. I've trawled through so many property sites for that side I know it's doable. I can still comfortably save each payday and make an overpayment each month :) I'm only looking at properties with DG / GCH as that's one expense I won't need to fork out, just maintenance / replacement as and when.

    I haven't enjoyed being back in rentals, I miss the security of a mortgaged home even though it wasn't mine.

    I will confess I started to panic about buying, just in case I can't get a mortgage, but will have to wait and see. I am in a strong position with the money I have gathered together and continue to gather, plus going for a cheaper property, my debt isn't that big now and everything together (cash against debts against history should make this work for me with a good lender, I have faith in my broker). Negative equity doesn't concern me as I won't be looking to sell, I would ride it out. Think I'm too old to worry about that :rotfl:

    Will drop the solicitor an email tomorrow to let him know where I will be buying, we have had an email conflab and are speaking next week. I've worked the outlays out, just got to find out his fees. Then see what the other firm quote me.

    Got the sellers pack shortly after requesting it, I identified the same stuff as the surveyor :T But, again it was a good report.

    Nearly got my to do list finished! By the end of this month I will know if I can put operation moving forward into action :j
  • edited 7 October 2019 at 4:12PM
    MovingForwardsMovingForwards Forumite
    14.4K Posts
    10,000 Posts Third Anniversary Name Dropper Photogenic
    ✭✭✭✭✭
    edited 7 October 2019 at 4:12PM
    Monday update:

    1. Letter from D2, rejected my offer and came back with the same offer as before.

    I've now paid that one off!

    2. Signed letter to former DMC accepting their offer. Will post it tomorrow.

    Seems they have undone the mess they created.

    Positive ending for today:

    1. Solicitor one has come back with a quote, eak.

    Bit higher than I hoped (£200), but so far rapport has been good, called when he said he would, responded to my emails quickly etc. They are a local firm.

    2. Solicitor two have acknowledged my email, waiting for their quote. They are also a local firm.

    Edit to add - quote received, bit cheaper than the first one, but very impersonal. Not a great impression compared to solicitor one.

    3. Updated and resent form to my broker.

    Nerves are kicking in that I won't get a mortgage, or it will be too low to buy in the cheaper area I've picked. Trying to stay positive and concentrating on getting 4x salary as that's more than enough.

    4. EA asked for feedback on the maisonette, told me the seller will negotiate on price.

    I am keen on the property, but am not yet proceedable.

    I did say all the immediate issues I saw and said I will be in touch for a second viewing / have gas / electric engineers out as I couldn't check them myself. I know what offer I would be making if it's still on the market when I know if I'm proceedable!

    5. Can't realistically pay D3's offer to settle that one as it won't leave me enough money for deposit / fees etc, it would also take me several months to save it back up.

    Debt balances stand at:

    1. £0 (CCJ)
    On CRA.
    Settled in full.

    2. £0 (enforceable)
    Not on CRA due to age.
    Settled

    3. £6,819.95 (£0pm) (currently unenforceable)
    Not on CRA due to age.
    Their counteroffer 25% off

    DPA float £1,771.04
  • savingholmessavingholmes Forumite
    19.4K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭
    Lots of progress. Great to now have 2 debts gone
    Target 1) Clear CC debt - SUCCESS 13/4/22 Target 2) Lose weight & get fit 3) Write regularly 3811342714/70000 words Book 2 4) Develop passive income streams 5) Get to £3K EF 6) Declutter 7) MFW starting at £201999 Nov 21 with 264 258 payments to go. Now £198132. 8) Mortgage neutral progress (via private pension starting value c£3643 Nov 21) extra payments £312 including tax relief
  • [Deleted User][Deleted User] Forumite
    0 Posts
    1,000 Posts Second Anniversary Name Dropper I've been Money Tipped!
    MoneySaving Newbie
    Well done on paying off another debt, and fingers crossed for good results from your broker :) x
  • MovingForwardsMovingForwards Forumite
    14.4K Posts
    10,000 Posts Third Anniversary Name Dropper Photogenic
    ✭✭✭✭✭
    Thank you ladies X

    Broker is on the case and may have figures for me tomorrow! Looking at 10% and 15% deposits to see what options are available.

    Spent the afternoon with my best mate, steak and jacket spud, followed by chocolate cake and coffee :D she kindly offered to gift me some money to bump up my deposit, but can't have gifts from friends towards the deposit.

    Had a check up and meds review at the Drs, he has managed to jangle everything and my whole body hurts like a SOAB and getting worse by the minute! Thankfully, no change to my meds and he understood without a combined of meds I cannot work.

    My new boss emailed me today, which I thought was really nice.

    I've three days left of my assignment and then I'm off to my new role next week!
  • MovingForwardsMovingForwards Forumite
    14.4K Posts
    10,000 Posts Third Anniversary Name Dropper Photogenic
    ✭✭✭✭✭
    Wednesday update:

    1. No post.

    2. Posting acceptance of former DMC offer tomorrow, forgot to do it today!

    3. It does feel strange being down to one debt!

    Positive ending for today:

    1. Had a present from the person I've been covering for whilst temping and a card wishing me well in my new role. I thought it was sweet of her to do that.

    Having a coffee with the manager who has helped me tweak my CV etc tomorrow so we can say our goodbyes.

    I am really going to miss this site.

    2. Had a really good chat with my broker.

    I'm not able to get a mortgage this year, it's due to me not being out the DMP for 12 months. I did expect this to be the case.

    Whilst it's a little bit sad, it's also positive as it gives me time to settle into my new role, get back into a monthly pay routine, keep saving and increasing my deposit and monitor property prices.

    I'm aiming for a 15% deposit on the maximum 4.5x salary, which I will basically have by the end of this year, possibly next month depending on what happens with agency pay/holiday pay and new wages this month. By the time I can start to look I will probably have 20 -25%. It opens the property market right up to me and some nicer areas, just not the one I really want!

    I will have to work out my spare money from my new role, multiply it by the months I know I can't buy and see where it gets me :) I know I normally post up full plans but I just haven't worked figures out yet.

    3. Uni officially starts this weekend and I've a tutorial booked this week eak!

    Going to pace myself throughout my degree, if it gets too much I will slow down, take a few months off and not register for the first intake for each module etc. I have 16 years to complete it, as I'm not going to be doing anything with the degree at the end of it there is no urgency. I could progress at work with it, but I've no requirement to do high pressure big salary roles again; my health really does come first.

    4. Starting to get very excited about my new role, whilst concentrating on finishing my tasks at my current site. I'm not checking the job spec again until I'm home on Friday and my assignment is done.

    5. Body doesn't feel as irritated as it did after my GP appointment yesterday, my mobility isn't great due to the physical, but I'm pottering around, slowly.

    6. Not sure how often I will be updating my diary now, but I'm sure I will find things to post about as I enjoy chatting with you :D

    I don't feel it would be right me doing a mortgage deposit diary, I have my spreadsheet I'm updating. Although reading this before posting I could say what % I'm at at the end of each month!

    I'm still moving money to my MSA's on an almost daily basis. My outgoings I've cut right back on so I could save a decent amount each time I got paid and I vowed when I moved I would never be in a situation of not having any money (really helped dumping my ex), I've all the clothes etc I need for a few years. I've money for my MOT and any repairs.

    Next week is the start of another new chapter in my life, there will be more adventures and plenty of smiles :D

    Debt balances stand at:

    1. £0 (CCJ)
    On CRA.
    Settled in full.

    2. £0 (enforceable)
    Not on CRA due to age.
    Settled.

    3. £6,819.95 (£0pm) (currently unenforceable)
    Not on CRA due to age.
    Their counteroffer 25% off.

    DPA float £1,771.04
This discussion has been closed.
Latest MSE News and Guides