SLLM (Single Lady Large Mortgage)

lantanna

Hi, I’ve found this thread and would love to join you lovely lot!  I’m a really old FTB (42), I’m sale agreed and fingers crossed il soon be taking on a £138950 mortgage. 

I’m going to read the thread from the start as I’m sure there are many words of wisdom. 

Look forward to joining you, I hope to be mortgage free by 55 and should be able to achieve this if I put my mind to it.

Sistergold

Oh hello @lantanna and welcome. Nice of you to join us here. Please feel free to share your story as there  are so many lovely ladies here. We shall be keeping our fingers crossed that you complete on your house purchase soon! Please keep us posted on your progress. 

You are never old to be a FTB! Life can be in the way of buying your own house sometimes but then there is never a better time than NOW to buy as now is the youngest you are going to be. 😂😊 welcome to this journey. You will definitely able to pay off early as you are going to be motivated by what we are all doing to crack on these mortgages. Xx

Sistergold

Mortgage update 
Hello laddies, it’s the beginning of the month and interest has now been added to the mortgage. 

New balance up at 👇🏾

Previous balance 👇🏾

Interest added ~£436 

Me_v_The_Mortgage_Mountain

@Sistergold and @savingholmes, re losing the front garden, we are lucky as we are on a very wide plot and so still have pretty much half of the front garden with turf and plants.  The boiler, flooring, drive and the fencing were the expensive bits as we had to pay others to do those but the rest was pretty MSE, upcycling, facebook bargains and a lot of elbow grease!

@Sistergold, you're doing well with the payments, so satisfying to see the balance coming down isn't?  I updated my signature today as I broke through the £120k barrier

@lantanna - welcome and good luck with your journey, sounds like you are focussed on your end goal, it would be great to be mortgage free by 55, I'm aiming for 65 as I'm currently 52!

Sistergold

@Me_v_The_Mortgage_Mountain, I had already been “wowed” by your front yard being able to park 9 cars and at that I thought you had used it all up when you widened it to that. Now that you say after widening to 9 cars half is still left? Now that’s an impressively big front garden! You chose your house well! Very impressive that you have done most of the jobs yourself, well done you! 

Now your mortgage is under £120k that’s really a job well done! I have also looked at other markers in your signature and you have been doing well there too in other financial areas, 👍🏾 

Sistergold

Financial update.
Rent has come in £976, so now recovery pot is £2355 out of £20000 goal. 

Money added to building fund. Total in fund now £77166, was at £73400, meaning £22834 to go. 

Bibou22

Good evening all,
I am also a single lady.

My opening balance back in January 2016 was £219,000. Fast forward to January 2021. After buying my partner out of our previous property I got myself a new, forever home and took out a further advance of £18,000, the new house has now been completely redone inside. New kitchen, a media wall, tiled all of downstairs and every room has been redecorated and recarpeted.

I'm currently building up my EF back up after splurging on a new electric car at the end of last year and I still need to save to do the garden. But thought I'd join this thread to try and ensure I restart some overpayments on the mortgage.

Opening Balance January 2016: £219,000 
Further Balance January 2021: £18,310
Current Balance: £90,856
Current Redemption Date: December 2034

Sistergold

Feeling the squeeze 
I have just checked out my electric/gas account and I must say I am feeling the squeeze as my bill is almost double. Yesterday I also got a call from Mr X that is he is not working and will not be sending any support. This means the money I received from him beginning of January is the last until further notice. 

As my mortgage is variable my interest rate will be going up 1st of March(1st increase) and I should be receiving the letter soon. As the interest rate then increased again back to back that increase will then take effect 1st of April one increase straight after another. We truly have to brace ourselves for some tough times ahead! Might eventually review my £1k OP downwards at this rate as am not sure how well I can cut down in other areas but I will try some restricted spending from now on. 

savingholmes

Good luck with your spending review

Sistergold

Good morning @Bibou22 and welcome to SLLM . You have come to the right thread for motivation. Many lovely single ladies here. You have really brought down your mortgage @current balance of £90k! Wow well done on buying your own forever home and doing all that work from top to bottom! Good that you are building an emergency fund as it’s even more important for a single income household. Weldone on the electric car as that seem to be the way to go?