Night feed dreaming

BVic28

Another small Tilly tidy this week - 3.62 into the house deposit savings. Managed 2 no spend days but no no drive days as DH started work at 4.30am all week so didn’t fancy the hour walk to work. Still, a slight improvement on last week. He still needs to be better. Grocery budget is incredibly tight until payday a week tomorrow. Tempted to join the November grocery challenge to keep me a bit more on track as we relied too much on expensive convenience food this month.

Mortgage balance: £121,245.32
Holiday savings: ££514.75/£5,000
Deposit savings: £428.83/£10,000

BVic28

I was number crunching through the night after seeing a nice surprise on Zoopla that the market value of the house had increased to £183k. I know that this isn’t completely reliable but using this figure we may be able to sell earlier than expected without having to save another deposit as a sale next year would release £27k equity. This means that we wouldn’t have to pay the ridiculous charges on the help to buy so we’d only pay charges once. This led to me very excitedly checking Rightmove and accidentally finding what looks like our ideal forever home. Unfortunately we wouldn’t be able to afford the fees right now and I’d struggle to get a mortgage while on mat leave. I can keep dreaming though right?

But, the best bit about all this is that hopefully we’ll be able to move before LO starts school (we’re looking to move to a better catchment area) which initially didn’t look possible! (Although I’m trying to remain realistic as who knows what’s going to happen with Brexit!)

longway2go

Hey,

All sounds positive. In relation to mortgage we got ours with tsb and had to I think just write a letter to say my intention was to return to my same job on the same money.

How long have you got keft on mat leave.

I always crunch figures in the middle of the night ��

BVic28

Ohh no...you saying that had got the cogs turning to see if we could shuffle things around. I’m tempted to view this house (it is really lovely and ticks everything I wanted, wouldn’t even need redecorating when we moved in) and get a couple of valuations on our house just to see what the outlook is. I’m the type of person that when I get an idea in my head I have to follow it through until someone tells me it’s not possible. While ever there’s a small chance it might be possible I won’t be able to stop thinking about it haha.

You’ve certainly got me thinking LWTG! I’ve got 6 months left, but I averaged my wages across the mat leave so my wages won’t drop now before I go back.

longway2go

You do sound more and more like me each post lol

Only you can make the decision but if its the dream house then I would have a look and investigate options. It will take a while to move anyway and 6 months isn't 2 long in the grand scheme of things.

BVic28

Seeing as the valuation is free I figure there’s no harm in finding out what our house realistically would be worth...

longway2go

Exactly haha

BVic28

After a lot of number crunching I’ve had to accept that now isn’t the right time to move house. There’s no way we’d be able to afford the mortgage right now and I’m wanting to go back to work on less hours so we don’t want to be stretching ourselves. But this has made me more focussed on making mortgage overpayments where I can so that we can release more equity when we sell! We’ll also continue saving up in a separate fund for fees etc. Hopefully by this time next year (I get an annual pay increase) we might be in a better position!

longway2go

Sorry that you have come to the conclusion but good news it's made you more focused. Enjoy your mat leave and review next year like you said.

BVic28

Final Tilly tidy of the month! Sent £13.59 across to the mortgage! It’s payday tomorrow so the standard monthly overpayment of around £45 (just rounded up payments to £500 so not sure exactly what it is) will do across, but I’ll also tidy this account and send over whatever I need to get it to the nearest £10. I’ll wait until the end of the month once the interest has been added to update this month’s figures though!

Aim for the coming month is to manage the grocery budget. We’re spending £300 a month which is only for two adults and nappies (I’m breastfeeding so we’re not even buying formula). We rely too much on expensive convenience food so I’d like to try and get back to cooking.