SLLM (Single Lady Large Mortgage)

Sistergold

sofarbehind said:

Great list sistergold, thanks. 
Over the last year I have added trying to improve my career as a second long term strategy. Reducing the cost of living is something I think we are all very switched on about (thanks Martin Lewis and these forums!), but that alone is a limited strategy. I'd love to earn more to be able to really get the mortgage done with and build a better pension. I've actually invested a lot of money in education to try and do this over the long term as I'm in a tough mid-career slump/dead end. I am also trying to build up new skills to broaden my options in addition to the masters. It's very time consuming and costly - it may not pay off. 

I would love to know your thoughts about building up your career in your late 30s/early 40s because you are obviously very successful and astute. Is further career progression on your mind too?

Hey there sofarbehind
Funny that you should ask about further career progression. I am a firm believer in the saying which goes “Success is when preparation meets opportunity!“ So I never stop doing the next thing and I never really plan on failing, if it does not work I don’t look at it as failure but “just one way it did not work”, I could get a bit discouraged but I pick myself up and start again very quickly. Now that I am all set and geared up on the mortgage front I now am in the process of moving my career to the next level as this is what I will need to help achieve my other financial dreams quicker. So now I am busy looking at what I need to do in my work place to earn more so that I can do the next big thing. For me to think bigger I will need to increase my income to a different level. 
I believe its never too late to build your career or go for training even at a late age, even if you finish training in a field At say 55 years and you Work for the rest of what is left of your working life doing a job that you love or being paid much more its worth it don’t you think? 
I will be cheering you on sofarbehind! Only way is onwards And upwards in our careers. In pursuit of this we will also be overpaying on our mortgages right?

🥰

Whiterose23

Hi Sistergold,
I am also in a similar position to you in that I'm a divorcee in my early/mid fifties and have a largish mortgage, although as I'm located in Devon, it isn't as hefty as yours but I guess it's all relative when taking into account earnings in the west country compared to London. I had a mortgage on a small house before the one I'm in now, when i received my divorced settlement, but wasn't happy there. So I decided to take the plunge before my children were too old to move, upped sticks and moved to Devon nearer to my wider family. This allowed me to continue working at the same job i already had, but with a commute. However, it's so worth it. I love my house and the kids have such a lovely quality of life living near the sea.
My house is old and needs work, but i don't worry about it. It's mine and to be honest I really don't worry about sprucing it up for visitors - they can take it or leave it!
I'm trying to do bits of DIY here and there but do pay for a tradesperson to help if I have to. I found that by joining the local Nextdoor site, I can post my needs and get some great recommendations. When tradesmen learn they've been recommended by a previous customer, I think it helps as they don't want to break the chain of trust. Also I've been given the names of a couple of retired builders who live in the local area, who will help out with jobs if I need them to and not charge the earth.
I try to overpay my mortgage whenever I can, usually by around £50 a month at least, but it isn't always possible. I'm mortgaged  up to age 69 and want to bring it down as quickly as I can so I don't have to work past retirement. I hope to be in a position to semi-retire at 60 so I'm plugging away at it as best I can.
It's good to see this thread as I felt I was always reading about couples coping with their mortgages with their two pay packets, yet there are so many of us single parents - both male annd female - who are home-owners and doing our best to get by. I'm looking forward to reading more. X

Sistergold

Whiterose23 said:

Hi Sistergold,
I am also in a similar position to you in that I'm a divorcee in my early/mid fifties and have a largish mortgage, although as I'm located in Devon, it isn't as hefty as yours but I guess it's all relative when taking into account earnings in the west country compared to London. I had a mortgage on a small house before the one I'm in now, when i received my divorced settlement, but wasn't happy there. So I decided to take the plunge before my children were too old to move, upped sticks and moved to Devon nearer to my wider family. This allowed me to continue working at the same job i already had, but with a commute. However, it's so worth it. I love my house and the kids have such a lovely quality of life living near the sea.
My house is old and needs work, but i don't worry about it. It's mine and to be honest I really don't worry about sprucing it up for visitors - they can take it or leave it!
I'm trying to do bits of DIY here and there but do pay for a tradesperson to help if I have to. I found that by joining the local Nextdoor site, I can post my needs and get some great recommendations. When tradesmen learn they've been recommended by a previous customer, I think it helps as they don't want to break the chain of trust. Also I've been given the names of a couple of retired builders who live in the local area, who will help out with jobs if I need them to and not charge the earth.
I try to overpay my mortgage whenever I can, usually by around £50 a month at least, but it isn't always possible. I'm mortgaged  up to age 69 and want to bring it down as quickly as I can so I don't have to work past retirement. I hope to be in a position to semi-retire at 60 so I'm plugging away at it as best I can.
It's good to see this thread as I felt I was always reading about couples coping with their mortgages with their two pay packets, yet there are so many of us single parents - both male annd female - who are home-owners and doing our best to get by. I'm looking forward to reading more. X

Hello Whiterose23
It was really nice to hear from you with a story which sounds exactly like mine! I was feeling very isolated before starting this thread. I got so much inspiration from many MFWs stories but after reading quite a few just like you I still felt lonely as there was almost always a partner. It got to a point where I was wondering if there are many if any single woman with mortgages? Now I know there is many of us and I look forward to connect with many more! 

We need to keep motivating each other for sure! Have also connected with some woman who are sole breadwinner in the relationships. Lots of amazing woman who have achieved what seems to be impossible most times. 

Oh I can just picture living close to the 🏝 🏖 lucky you! You truly made a wise move! 

🥰

Sistergold

Afternoon ladies 
@Whiterose23 just reminded me of one thing I have done which saved me LOADS of money! This is in keeping with “just not trying to impress as long as it’s mine”. Well after the renovations I did not have curtains. The renovations did not go as planned(big/long story for another day!) and anyway I moved in with all windows not ‘dressed’ so no blinds no curtains.  

I don’t know if it’s just me but I have always found curtains to be EXPENSIVE )and I have always loved beautiful curtains)? Or is it me who chooses expensive curtains? You know like how they say as a girl if you are attracted to bad boys you will tend to always choose a bad boy so maybe I am just attracted to expensive curtains which don’t go with this whole idea of me trying to OP the mortgage.  Well, I do have a big house I think? Well for a single woman I guess or is size again subjective? All that means lots of big windows! So laddies after going around the shops and seeing the expense I just decided to forget about curtains for sometime. The rails needed to be made especially as lounge windows are very wide in fact al the windows are on the big side. I just did not want to spend so much on windows. So for a few months we just lived in the house with open windows. I mean completely open! I had no privacy issues really but the only issue I had was that I am sensitive to light when I am trying to sleep and I will wake up at the crack of dawn. After some time I actually enjoyed waking up to the light and lying in bed looking outside at the trees and what not but my sleeping hours were short. After a few months enough was enough though and I installed the Venetian blinds which I had bought months ago. 

Well onto the issue of blinds. Laddies did anyone of you take up blinds as a way to cover up windows without going to the expense of curtains? For me my house has a South facing garden which was one of my requirements, as, well I can not have the beach 🏖 in London but at least I need the sun! But honestly the sun can become too much(look I am not complaining) so in my house I will always need blinds as that way I can adjust how much sun I let in which is tricky with just curtains if you see what I mean? 

I know curtains can really make the house so beautiful but mmmm well after having blinds for 10 months now I can not say I miss curtains except for their beauty. The only problem I have had with blinds is only in my bedroom as normally I would have had blackout curtains, blinds do work well in keeping out too much sun but they will not block out light. Well since I am just not wanting to buy curtains for now I bought some eye masks to block out light for sleeping and it’s working out well. 

I have also been wondering if I should get some Roman blinds instead of curtains for the sake of blocking out light from my bedroom? It can be a hustle to sleep with eye mask all the time. Roman blinds are coming in all sorts, velvet, linen etc and in different prints and fabrics just like curtains, and they tend to be cheaper than curtains but will block out light just like curtains will if you choose blackout ones also can choose thermal all at a fraction of cost to curtains. So it will mean Venetian blind plus roman blinds? 🤔 am I taking this too far I wonder this money saving idea? With Roman blinds I will not need curtain rails. Or is it better to cut down cost completely as I can also just live with the current Venetian blinds and use the eye mask for blacking out to sleep? 

Honestly I don’t really care about keeping up appearances and having almost not had curtains for the past 10 months I am finding the blinds such easy maintenance. Ladies do you know I only spent under £800 to do the whole house and by this I mean bathroom, kitchen, dining room, 4 bedrooms, lounge massive sliding glass doors, landing, 18 blinds in total! I don’t need to worry about washing or dry cleaning curtains? 🤔 look I think I could just put the money towards OP😉. 

I have also checked the Roman blinds and they are also cheaper than getting curtains. 

Well laddies it’s something to think about the next time you have to get curtains. All the blinds I ordered them as made to measure so they were not off the shelf and procedure was very straight forward! Customer service was brilliant! 

I really think I can just get over the idea of curtains and save money? In the lounge the blinds are mostly always open as even when we go to bed we never close off the lounge window but it does look plain with no curtain draping down. It’s like an office feel but for now I am really not bothered much for now although I get tempted to have curtains sometimes. 

1. Laddies does anyone have only Venetian blinds? 

2. Do you have Only roller/ Roman blinds? 

3. Do you have both blinds and curtains? 
4. Do you have only curtains? 

Also what your opinion of having only blinds in a house? 

Sistergold

Good morning laddies
I am really serious and motivated to find a way to really crack down on this debt/mortgage that I have! It’s truly a huge weight on my shoulders! It’s amazing how I have never really felt so overweighed and impatient about a mortgage like with this mortgage? I guess it’s knowing that it’s all depended on me and it is like many times bigger than any mortgage I have been linked to before. Also it’s likely because it’s the first mortgage that I have obtained that has now been calculated for me to pay until I am 70? All my other mortgages were low and in joint names, also we we’re going to pay them off well before retirement! Oh laddies the price of starting late is really enormous! Having said that I am really excited and to be honest even if I never payed off my mortgage I am happy to be in this arrangement just so I don’t deal with a landlord again! So onwards and upwards I guess! 

So what have I been upto? Well I have been on the calculator and phone that’s what! 

So some figures to go with, like a SOMA(Statemnet of Mortgage Affairs) now you know where you got that term from. 🖐🏾 

Mortgage calculations 

Daily capital Repayment first year £46.22

Highest daily capital Repayment £89.34 -used last year of mortgage figure

Daily interest First year £28.39

Highest daily interest £55.10 -year 3 of my mortgage 

Average daily capital £67.80 -first year plus last year divide by two

Mortgage started July 2019 @£487500

18 May 2020 mortgage balance @£472116.32 called bank this morning 

Mortgage term remaining as of today 22years 2months

OP  since start of mortgage £1194.62

Redemption statement requested will come in three working days this will show me my actual daily interest as when I called the assistant said my daily interest was £1.69 which I don’t think was correct as that will mean I only pay under £60 per month? If mortgage rates were so low banks will not give this loan I tell you. When I pointed to the assistant that the daily interest could not be so he advised that I he can request a redemption statement for me which will show all the key statistics! 

Now I have some figures to work with. 

🧹

Moneyfordreams

I agree it's never to late to learn. At 50, I have recently started MSc to increase skills in my role/future role. It will take 3 -5 years before I get a decent pay increase, however I should reach the top of the next band by the time I retire I think if we expect someone in their early 20's to achieve it surely I can

I think the window coverings are on a house by house basis. I had lovely wooden venetian blinds in my last house, a terrace on the beach. I wanted to see the view day and night. This house, I haven't bought new curtains for the sitting room yet. I will need a new track and do have expensive tastes, I picked up some lined charity shop ones for a different room, but they fitted there. They will do for now. I would like nicer ones though. I want a silvery/grey voile curtain in my kitchen diner across the biolds. I will need a discrete track to fit. The ones I like are around £500... . I have roller blinds in the bathroom and manged to get new, 2nd hand next brand curtains for £29 for our bedroom. I don't think blinds would suit the house I am in now. 

That is one huge mortgage

Sistergold

You are so right @Moneyfordreams that it’s on a house to house basis! The honest truth is my house will truly be stunning if I added curtains (the blinds will always be needed due to amount of sun). It just so happened that all my life I have always had curtains and moving into this house I needed blinds and found that the ones I chose worked out so cheap even as made to measure(just cheap aluminium silver ones). Now me at present being a sucker for saving wherever I can I can not now go on to buy curtains! Now looking at mortgage it’s going to to take quite a while to get it down to an acceptable level in my books and now I am running the risk of not caring about the beauty of curtains which I have always loved! 😼 will tell you when if I should do the beautification thing and buy curtains at present I am stuck in money saving mode and I wonder how long that will last? 🤔
xx

EmmaG04

Hello all,

I'm enjoying really reading this thread and it's giving me motivation to try and make more overpayments and continue renovating my flat.

I'm 26 and live on my own. 2 years ago I bought my flat with a 10% deposit which was so run it down it needed stripping out. The whole process has been a massive learning curve.
For the first 3 months I was living on a camp bed and the first thing I did was rip my kitchen out myself. I think I was little to excited and eager to get working, I didn't consider needing to cook in that moment haha. So I had to get a mini fridge for the living room and made a table out of a crate and a plank of wood for my George Foreman, so I could cook whilst waiting for my new kitchen. 2 years later the bedrooms, kitchen and living room are done and furnished and I just saved enough my bathroom, so in Autumn when hopefully some normality has resumed I can get a plumber to fit a new bathroom. 
I've also learnt how to tile, fill walls, decorate and budget as I've never had so many bills. In the past I've lived in house shares so bills were a lot of easier to manage.
Over the last few weeks I've managed to decrease my bills, so the additional savings I will make as overpayments.

I've bookmarked this thread and can't wait to continue reading all your stories.

Sistergold

EmmaG04 said:

Hello all,

I'm enjoying really reading this thread and it's giving me motivation to try and make more overpayments and continue renovating my flat.

I'm 26 and live on my own. 2 years ago I bought my flat with a 10% deposit which was so run it down it needed stripping out. The whole process has been a massive learning curve.
For the first 3 months I was living on a camp bed and the first thing I did was rip my kitchen out myself. I think I was little to excited and eager to get working, I didn't consider needing to cook in that moment haha. So I had to get a mini fridge for the living room and made a table out of a crate and a plank of wood for my George Foreman, so I could cook whilst waiting for my new kitchen. 2 years later the bedrooms, kitchen and living room are done and furnished and I just saved enough my bathroom, so in Autumn when hopefully some normality has resumed I can get a plumber to fit a new bathroom. 
I've also learnt how to tile, fill walls, decorate and budget as I've never had so many bills. In the past I've lived in house shares so bills were a lot of easier to manage.
Over the last few weeks I've managed to decrease my bills, so the additional savings I will make as overpayments.

I've bookmarked this thread and can't wait to continue reading all your stories.

@EmmaG04
Thank you for dropping in! It makes this SLLM(Single Lady Large Mortgage) world a better place when we connect so as not to feel so alone in this bid to bring down a mortgage on a single salary! 

Now that you have mentioned doing your kitchen you have strengthened me in the bid to do my own kitchen. One day I will just rip it up and do it like you did! I do have crazy moments like that when I do something so quickly and I then realise what a bind I have put myself in! The whole house was done except for the kitchen! I have decided I don’t want anyone doing it for now and as I am now on a mission to save whatever I can and since I have now done a bit of DIY courses I am sure I can get it done? Even if I should mess up a bit well like you I would have gained more skill and experience! I Already had quotations for the kitchen before I moved in and once I do the kitchen myself I will send the money which would have been for labour towards overpayment!?🥳 
when I fitted my blinds myself I used the money which I would have been charged to fit the blinds to buy some Power tools. Have never felt happier! Now I own a good selection of power tools for jobs around the house and gained some experience. I am now so good at fitting blinds I could actually charge to do it in my spare time! 💪🏾 🧚🏾‍♀️ 

Xx

Sistergold

Good morning laddies
yesterday morning I was so over the moon to learn that my mortgage had moved from the £480sK to the £470sK! 🤝👏🏼 Mortgage started July 2019 @£487500

18 May 2020 mortgage balance @£472116.32. I have now this morning gone on and done my first Mortgage Sweep! Have now just payed £116.32 to bring the balance to a neat, tidy, sparkly, awesome @£472200 Remember I chose the 00 challenge #12. 
Laddies you need to see my smile!

Tara for now ❤️