SLLM (Single Lady Large Mortgage)

HelloB

@Sandyra My version worked it out to the penny.  But if I was in your situation, I'd just hard type £887.81 into column i. It won't have any effects on other formulae.

Oh and handbags are "investments". Handbags and watches. I have some jewellery which if I can will myself to find the receipts for, I might sell them on https://www.theluxuryhut.com or similar. Little steps!

Sandyra

HelloB said:

@Sandyra My version worked it out to the penny.  But if I was in your situation, I'd just hard type £887.81 into column i. It won't have any effects on other formulae.

Oh and handbags are "investments". Handbags and watches. I have some jewellery which if I can will myself to find the receipts for, I might sell them on https://www.theluxuryhut.com or similar. Little steps!

Thanks HB, works treat. Oh gosh don't get me started, I should sell them but I can bring myself to. I bought one last week, but I sold one, that's not too bad right? 

Queen_of_the_Hive

Oh my goodness! I have just discovered this thread by chance and this is the so relevant to me atm. I have just got divorced and received my divorce settlement. I aspire to one day own the home I live in but for now I need to get my employment and finances in order. I live in London and would love to buy in the area I live in but its just out of my limits. I could get a 1 bed or studio but having myself, partner and 2 kids its not going to work so for now I am living in a nice rented place. I am in a lucky position to be able to buy an investment property out of london with the bulk of the divorce settlement but its no way the property I want to end up in but a bit of bricks and mortar feels grounding. Looking forward to reading the threads so far and being able to join in when I can. 

HelloB

Sandyra said

Oh gosh don't get me started, I should sell them but I can bring myself to. I bought one last week, but I sold one, that's not too bad right? 

One in, one out. Not bad at all!

Sistergold

clarissa62 said:

Oh my goodness! I have just discovered this thread by chance and this is the so relevant to me atm. I have just got divorced and received my divorce settlement. I aspire to one day own the home I live in but for now I need to get my employment and finances in order. I live in London and would love to buy in the area I live in but its just out of my limits. I could get a 1 bed or studio but having myself, partner and 2 kids its not going to work so for now I am living in a nice rented place. I am in a lucky position to be able to buy an investment property out of london with the bulk of the divorce settlement but its no way the property I want to end up in but a bit of bricks and mortar feels grounding. Looking forward to reading the threads so far and being able to join in when I can. 

@clarissa62
Hello there and Wellcome! Divorce does throw you off balance, suddenly you are back on the drawing board! But hey take heart and you will surely do it! 

🥰

Sistergold

clarissa62 said:

Oh my goodness! I have just discovered this thread by chance and this is the so relevant to me atm. I have just got divorced and received my divorce settlement. I aspire to one day own the home I live in but for now I need to get my employment and finances in order. I live in London and would love to buy in the area I live in but its just out of my limits. I could get a 1 bed or studio but having myself, partner and 2 kids its not going to work so for now I am living in a nice rented place. I am in a lucky position to be able to buy an investment property out of london with the bulk of the divorce settlement but its no way the property I want to end up in but a bit of bricks and mortar feels grounding. Looking forward to reading the threads so far and being able to join in when I can. 

@clarissa62
We have had a few ladies post some positive success stories about shared ownership and staircasing to full ownership, depending on the lump sum you have it might be worth checking out? 

Sistergold

frankersBri said:

@HelloB that tracker is great, fancy! I think I might steal it for my monthly tracking - thanks for sharing!

Here's the one for daily interest I have, hopefully it is helpful if only to visualise the daily interest changes! I also have a monthly one but I think I'll replace it with the one HelloB shared as it looks much better!

@frankersBri
Managed to change the loan amount and interest but for some reason could not input start date or do i have to change each date manually?
x

Sistergold

HelloB said:

Hello ladies, an accountant boffin sent me an Excel which I was hoping to add frankersBri's daily interest rates into.  Made a real hash of it!  But in case anyone is interested, I'll try and upload it. 

If you hover over the green input cells, there are handy explanations. 

Great thank you, all done. Really enjoyed changing the figures. Now waiting to see how to change dates on the daily interest spreadsheet posted by @frankersBri.
Thank you so much for the spreadsheet I have found it very good!
xx

HelloB

@clarissa62 Echoing @Sistergold to welcome you to the SLLM sisterhood. Divorce is one of the hardest thing I've ever had to deal with, second to miscarriage. Shared ownership is a good way to gain a foothold on the London property ladder and I have friends who have done in in North London (however they are keyworkers so had first dibs,  I heard there was a bit of a bun fight for desirable shared ownership properties).  One thing to keep in mind is when one of my friends got a huge bonus one year and wanted to buy more share, she didn't agree with the optimistic valuation provided by the housing association.  She arranged market valuations from 5 local estate agents and negotiated with the HA.  So just bear that in mind.  But well done on the BTL property, it's always nice to know there is passive income and possible capital gain at the end of it. However with the Government clamping down on BTL landlords by stripping mortgage interest deducitbility as expense, just be careful and save some money to pay tax on rental income.

@Sistergold On frankersBri's spreadsheet, just type in your mortgage start date in cell A7.  Then click on the cell, which should have a green box around it.  Click on the bottom right corner and drag it down the column.  This will populate the consecutive dates for you.  If your mortgage started before 2020, the formula in cell C7 should reflect 365 days in 2019.  =B7*($B$2/365)

Queen_of_the_Hive

HelloB said:

@clarissa62 Echoing @Sistergold to welcome you to the SLLM sisterhood. Divorce is one of the hardest thing I've ever had to deal with, second to miscarriage. Shared ownership is a good way to gain a foothold on the London property ladder and I have friends who have done in in North London (however they are keyworkers so had first dibs,  I heard there was a bit of a bun fight for desirable shared ownership properties).  One thing to keep in mind is when one of my friends got a huge bonus one year and wanted to buy more share, she didn't agree with the optimistic valuation provided by the housing association.  She arranged market valuations from 5 local estate agents and negotiated with the HA.  So just bear that in mind.  But well done on the BTL property, it's always nice to know there is passive income and possible capital gain at the end of it. However with the Government clamping down on BTL landlords by stripping mortgage interest deducitbility as expense, just be careful and save some money to pay tax on rental income.

@Sistergold On frankersBri's spreadsheet, just type in your mortgage start date in cell A7.  Then click on the cell, which should have a green box around it.  Click on the bottom right corner and drag it down the column.  This will populate the consecutive dates for you.  If your mortgage started before 2020, the formula in cell C7 should reflect 365 days in 2019.  =B7*($B$2/365)

Hi @HelloB - so sorry for your miscarriage loss, I've been through that myself and couldn't agree more. Its blooming awful. The BTL was owned by a relative of mine so I am fortunate to get it under the stamp duty threshold (its up north) and I'm hoping this will be a good mid term investment while I get myself sorted out. The rules on BTL do worry me a bit but on the balance of it I think its still worth the opportunity. I'm not really a fan of shared ownership but we will see. After the kids are settled back into school I need to get back into work. Sadly I lost my job because of covid so thats first priority.