SLLM (Single Lady Large Mortgage)

Sistergold

Good morning my diary friends
I hope you are all okay? I am alright but just struggling a bit with lockdown and wondering how this will all end? Wonder whether to really bother with anything really as sometimes it feels like life will never be normal and freedoms seem to have forever gone? We are truly social human beings and the restrictions on socialising are now truly making me feel down. I am trying to increase my exercise as that always help me to stay on top of depression creeping in or setting in. Just feels like too much to cope with, work, children and life in general! Well that’s me feeling down there! 

So I did use my maxtrainer yesterday and also went for a jog round the block as I have been having some kind of chronic fatigue going on. Have also started taking my iron consistently as I do suffer from ongoing low iron, have also added a good multivitamin for good measure! Have also been taking my vitamin D as I get low on that and take vitamin C for good measure! Oh and yes I do take some Mg/Zn supplement. The list could go on but covering every possible thing to get my energy up, but most important it’s the exercise which helps.

Well on the money front everything is going like clockwork. Regular OPs of £400, I don’t even think about them anymore and are still set at monthly with mortgage and also every Tuesday as a small OP stop order preset at £15/week. 

The building fund is going well as you can see. I have today added £1300 to the building fund bringing the total to £25302.60. Have developed an itch towards investment as I am a bit annoyed of the low savings interest rates. It’s money I don’t mind tying into something for now and am thinking of just buying a rental property in an area which can fetch me around +6% but hoping for 10% yield if possible. Have been looking at properties to see where I can buy rather than keeping the cash not earning much. The thought at the moment is that I will buy next year sometime rather than keeping cash. I will buy anywhere I can buy at the time and where will depend on how much I have at that time. I will not plan to get a mortgage for the purchase it will be just a small cash buy. Well it’s still a thought to see how I can get even 5% return on my money and yes it will be money I can lose and just a gamble on a property as it were. Will keep you updated about that! To purchase a property I will use all monies from building fund and from other savings pots as the extension was planned to happen in 3yrs anyway, I will just postpone and buy a property if the property market should take a dip. This will mean the building fund will then have to now need to restart and I will see what the buy to let will do in future? 

So yes I am leaning towards buying a buy to let next year or so and then start saving again for the extension. 

Well at present I am still waiting for the planning permission decision. Hopefully I will know by year end who knows? This is a longterm plan anyway done early so as to navigate application process in a conservation area. I had 3 builders recommended by architect. I contacted 3 builders way back in September and am still waiting for quotes and have had phone calls or emails with apologies of why quotes have not come yet. Well it’s all to do with COVID and being busy and well I have told them to get round to sending one when they can. No need to stress and don’t plan to build now so? I could never start a build while COVID is still at its peak so I think at least a year for things to settle will do. 

Work has really been okay. 

How are you all? You are all too quiet! 

Sistergold

Sandyra said:

Hi @Sistergold 🙋🏾‍♀️. Just wanted to say pop by as it’s been 2 months since I’ve been on the forum/ threads other than my monthly post for OP or save 12k. Good to see things are progressing with you and all the ladies. School has been really busy, my school has had limited cases so business as usual, well as usual as it can be. I’m doing 30,000 steps a day as I travel all around the school to different bubbles. September was a nightmare month as I was looking for a lodger, me and my boyfriend of 5 years have broken up and it was my birthday. So as treat to myself I bought a Chanel bag. Not very mse but I have always wanted one and I’m 40 in 2 years time, probably won’t be able to afford it then and feel like I have been mess around for the last 2 years. So needed “it’s all about me” present. Savings therefore have been slow, but OP steady. My new lodger is amazing, he cleaned my oven, it looks brand new 😱. So things are looking up x

Just wondering how did you get your lodger? 

Sandyra

Just wondering how did you get your lodger? 

@Sistergold

Spareroom 
He’s amazing. I’ve been very lucky with lodgers so far. Touch wood x

Sistergold

Sandyra said:

Just wondering how did you get your lodger? 

@Sistergold

Spareroom 
He’s amazing. I’ve been very lucky with lodgers so far. Touch wood x

Thanks for the response. I will remember that. I want to have a lodger at some point but not ready yet as I will be giving up my room to let it out! Will do it maybe for a year just to push my boundaries a bit! Still decluttering for now as I have too many cloths. 

Xx

MaddyHale

Sistergold said:

How are you all? You are all too quiet! 

ROFL!
We are all here Sistergold! 
I  have just been brooding... and lurking!
Glad to hear you are doing well on the OP side. Keep on Keeping On.
Its a shame about not  getting any maintenance for the children.
Try not to think about it. You are doing the right thing by taking care of your kids. It is definitely a lot on your plate. And you should get all the help possible.
But some don't see it that way. Some will try and weasel out of any responsibility.
So well done you
I have been busy here. I actually put an offer on a house and pulled out of the purchase a month ago. The house location wasn't just right. The house was actually very nice but the road bridge and rail tracks nearby would have done my head in eventually.
I was quite pleased that I could make such a big decision on my own.
I am not sure the sellers would think so.
So I am still looking.
I wasn't planning to buy this year I guess I felt I had to bring my plans forward because of the stamp duty holiday.
I am sooo looking forward to gettting a mortgage again! 
And my divorce came through too : )

Sistergold

@MaddyHale
Hello, nice to hear from you! Looks like we are all busier in lockdown somehow? You did well to pull out of the house purchase if it was not quite right! It’s amazing how you can make big decisions now that you are on your own! It’s actually easier making big decisions when on your own as there is only one point of view to worry about, YOURS! 

Well congratulations on the divorce coming through(I know though that this is not something worth congratulations according to the world but I hope you know why I am saying congratulations as I know that once this process starts you want it done and finished so as to move on!) 
Fingers crossed you will get a house which is ideal and really even if you pay stamp duty you will get over it after some time and better stamp duty than being in the wrong location? 

Have a nice weekend. 

Xx

Sistergold

Hello ladies 👋🏾

Monday was monthly mortgage payment date! With that the monthly OP was also taken - yey 👯‍♀️. I am happy to say now I have inched into the £45#k and so mortgage now at £458669. Feels like it had stayed at £46#k for the longest time! So now anxiously waiting to go to £44#k 🙇🏽‍♀️🤹🏽

I am planning to call my mortgage provider tomorrow to cancel the OP which goes out monthly as I am now wanting to maximise my savings so that the building fund can grow a bit  faster while we wait for this COVID to be a thing of the past. I just feel that with this lockdown just paying my mortgage is enough? Christmas is also round the corner so best just have in hand all possible monies. I plan to start regular OPs again in June, unless finances change before then. I will continue with very small OPs. 

Sistergold

Update 
£1207.40 deposited into the building fund today, new balance now at £26510. 🗣👯‍♀️

sofarbehind

Congratulations on getting down to the £450s! It's so satisfying to reach these new mini milestones. You have had a great year and have made so much progress. It makes sense to stop the larger OPs and grow the savings - bit of a mind shift needed but it's all money saving and I know you will keep Oping up at a smaller scale. I am toying with the idea of doing the same myself next year..

Sistergold

Thank you @sofarbehind, so hard to reach even the mini milestones! Yes all money saving. 

Xx