SLLM (Single Lady Large Mortgage)

slm6002

Love the bbq.  We have one that sat outside for quite some time before XH went and i made space in the garage for it, but not sure it will last much longer as it suffered being outside in all weathers.  Fingers crossed the weather will improve soon so we can try it out.
Review with CSA people is coming up in the next few weeks.  It's our first review and reckon XH will be working minimum hours to reduce his pay and therefore money to help raise the children.  He didn't realise how much he would need to pay when i asked them to set it up last year lol.  We will see

Sistergold

Thank you @Queen_of_the_Hive re-bbq. When I assembled it I was like mmm it’s big but I am definitely going to be doing a lot more meat than for the day and so the size will be okay for doing the extras. Yes charcoal is a bit overpriced in general. So refreshing to eat outside for sure! Xx

Sistergold

Thank you @slm6002 re-bbq. I hope your old stand will at least see you through this summer and you can enjoy your bbq without buying a new one for now? Maintanance seems painful for Ex’s to pay. Fingers crossed he is still working good hours to help you support the children. I have found it stressful paying foe everything my self, more from an annoyance point of view than the affordability. It’s unfair from the point that if he did his bit I could save and do more for the children or take them on a good holiday. Without the support I reduce what I do with the children as I also have to balance with saving for my future! Good luck, with the review! 

Xx

MaddyHale

Hi all, I checked my balance of my shiny new mortgage and it came to £281,000 !!!! I have 24 years to tackle it.
I am officially a SLLM!!!!
Why oh why did I have to go buy such an expensive house!

Lately,  I seem to be questioning my house purchase and my planned renovation bill.
I went back to the first page of your thread for encouragement  and my reasons were basically the same as yours. Needed somewhere off the road because I am noise-sensitive but close enough to amenities. Close enough for the kids to walk to their current schools. Not beside a river, motorway or railway either.

I am putting off overpaying for the first few months as I am still in rented.
I plan to start OP once I get in to bring down the LTV before the next remortgage point.
I have also decided to renovate with a recommended builder. I have seen and love his work. I am probably paying over the odds for this but I would really like a nice house. The alternative is to move in quickly and fix it gradually. I am already late 40s and feel I don't have the time, energy or inclination to do this.
Talk about give me my flowers now!
I have done this in a previous house - room by room renovation. When I finally got to putting in the kitchen of my dreams I had to move out as my marriage broke down.
Bottom line is, I am nervous as I don't like spending money

Queen_of_the_Hive

Congratulations @MaddyHale, your house sounds perfect even if it does need bringing into 2021! Its natural to worry about the size of mortgage and spending any money but just think of it as a worthy investment. I am really glad you posted as I've still got quite a way to go on my home buying journey. I love reading these stories as they do inspire me to keep being a tightwad for a very good cause.  

With regards to overpayments, definitely worth doing if you can. Even if its a few £ here and there it all helps.  

May I ask - did you come across hurdles when getting the mortgage because of age? I'll probably be getting a mortgage in my late 40s too and I was just curious as to how this is in the current climate? 

MaddyHale

Hey @Queen_of_the_Hive!
Thanks for the encouragement. A RL friend said the same thing. That anything worth doing was worth doing well. Especially with regards to assets.
 I used a broker to source my mortgage. No problems at all. I didn't want a 25 year mortgage. I was thinking of between 20-24. Broker didn't think I would have a problem and I had quite a number of deals to chose from. Had to reign in any hard searches on my credit file prior to the mortgage application going in. I guess situations would differ depending on circs but I think they are happy to give us older ones mortgages now

Queen_of_the_Hive

MaddyHale said:

Hey @Queen_of_the_Hive!
Thanks for the encouragement. A RL friend said the same thing. That anything worth doing was worth doing well. Especially with regards to assets.
 I used a broker to source my mortgage. No problems at all. I didn't want a 25 year mortgage. I was thinking of between 20-24. Broker didn't think I would have a problem and I had quite a number of deals to chose from. Had to reign in any hard searches on my credit file prior to the mortgage application going in. I guess situations would differ depending on circs but I think they are happy to give us older ones mortgages now

Hi @MaddyHale that's really encouraging to hear  

I'm renting at the moment, the location works for us all and so I'm doing all the groundwork to clear debts etc to make me a model candidate for a mortgage. Good luck with renovations and keep us posted  

Sistergold

@MaddyHale, yes you are officially a SLLM! Renovations sound exciting and to be honest we only live once so it’s good to be in a good house! I know there are times we also have to accept and be grateful for just having a mortgage and a house. After some time though we have to also have some house pride and be proud owners of ours houses! 

OPs will can be made in good time but it’s good to take a rest and make the house what you want before you worry about bringing the mortgage down! X

Sistergold

@Queen_of_the_Hive, very soon once the debts are cleared you will surely be a good candidate for a mortgage! Xx

Queen_of_the_Hive

Sistergold said:

@Queen_of_the_Hive, very soon once the debts are cleared you will surely be a hood candidate for a mortgage! Xx

Thanks @Sistergold, I probably repeat myself a bit too much & I loath counting the pennies but needs must and having a positive mindset is keeping me going on my journey. 

Hope everyone is having a great weekend. I had some awesome news yesterday that I just wanted to share, I found out yesterday that my brother and his little family have put in an offer for their first family home. They have genuinely been in really dark places in the past two years which I won't go into but just so chuffed for them to find their own path and come out good at the other side.