SLLM (Single Lady Large Mortgage)

Sistergold

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. 

Oh @Queen_of_the_Hive, this is really great news about your brother and family making an offer on their first house! We keep our fingers crossed for them so that it will all progress very  very quickly in his favour! Xx

Sistergold

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

Same here got a 23yr mortgage which will bring me bang on the age of 70yr. No problems at all. I think the struggle might be getting a mortgage well beyond 70 as I think 70 is now the Recomended retirement age? But if you can prove that your retirement package can still afford the repayments then you can still get one beyond 70. Having said that beyond 70 they still offer some products depending on provider. X

MaddyHale

Great news @Queen_of_the_Hive Great news about your brother and his family!

JennyJukes

Hello how is everyone 
My completion was going to be delayed because of my sellers solicitor not sending over the title deeds and planning permission (an internal wall had been knocked down to open the kitchen/dining room area).  My solicitor messaged them saying we need to delay and they came back pushing for us to complete when it was the sellers solicitors fault we couldn't!

Deposit has been paid and I go into the office to sign paperwork tomorrow, I think we're still on for completing on Friday?  I can't even get excited because I'm not sure!  I have everything in place to move in on Saturday so I hope so lol.

Photographer came today to take pictures of the flat I'm currently in to put back up on the market.  I really need to start packing but its been way too beautiful to justify staying inside!

MaddyHale

Hi @JennyJukes. I hope you get there Friday. Has your solicitors ordered funds from your lender? (Assuming you are getting a mortgage?)

JennyJukes

Hi @MaddyHale I assume so.  She gave me a document stating she had received the lender funds and my Help to Buy bonus and all that was left outstanding was my deposit and legal fees which I paid last week.   She gave me the title deeds but I didn't see the planning permission?  I'm not entirely sure what I'm signing for tomorrow but I guess I'll find out 

This week I'm packing and then thursday me and mum are going for a massage and then Friday I'm supposed to complete and get my keys, go out for a meal with my mum, move on the Saturday then probably do another thorough clean of the private let on Sunday.  Must remember to take the gas and elec readings then.  And just like that, back to work  but hey at least I know I'm paying off my own mortgage instead of throwing my money on someone elses!

Once I'm settled in a bit I'm taking my ex (we're still friends) to help me buy a second hand car then I'm saving to change the internal stairs in the house which are a bit old and ugly.  I hate car salesmen, I always take a man with me.  My current second hand car I have had for about 6 years and took a man with me, he checked all over the car and managed to get repairs done AND knocked the price off for me!

slm6002

Fingers crossed everything goes to plan for you JennyJukes

Sistergold

Fingers crossed for Friday @JennyJukes! 

gozaimasu

Well I don't technically belong in your group because I don't have children. Nor do I ever want any (or to pay for the existence of a potential partner's) so I will probably be single for the rest of my life. However, I find the concept of the thread an unusual one and wonder if a man would ever start a similar thread. Men are more likely to own their property and then "purchase" a woman to live in it rent-free or at low cost. I'm not convinced that many women would do that. I certainly wouldn't!

I took an 85% LTV mortgage at the age of 30, and I'm now on my 2nd one at a different property, 35 year term. I borrowed the max multiple of my salary each time, bought at the top of my budget and it costs approx 30% of income each month.

I overpaid the first mortgage because I wanted to reduce the interest I was paying and also build up a better LTV, which in the end, didn't happen. Still 15% deposit! This time round I haven't overpaid, but I am going to make a measly £1000 overpayment this month. I don't plan to massively overly pay it off before I die/retire, because there is no one to inherit, so if I overpay now, I'll only be releasing equity when I retire so that I can "live the high life" and then the mortgage company can sell the house when I die to re-coup the mortgage. I only hope to get down to a lower LTV to access better rates when re-mortgage comes around.

I hated renting as I had a succession of landlords invading my privacy, which is a big issue for me. I rented for 12 years before managing to buy my own place and I hated it.

Re: tradesmen; I am loathe to hire them. I ripped out and tiled my own bathroom saving loads on labour although it's taken me 2 years to do what 2 guys could do in a week. I'll finish it one day. Next job is to plumb in the shower once I find the pipes I need. There are other jobs that need doing (lead flashing/roofing, carpets replacing, driveway doing) that I keep putting off because I know I have to deal with "traditional attitudes" of tradesmen/companies. I contacted a few for samples etc and already they've addressed me as "Mr". I'm the one with the money, not the man they think I have.

badmemory

I really do not like dealing with tradesmen.  I've had them assume that because I'm a woman I have no idea how to turn the water off at the stop(no point in typing it).  I live with my son & one guy actually tried insisting that he come & countersign the order.  I think they are actually getting worse.  They used to tend to be a bit paternal, annoying but I can live with that if they aren't trying to rip me off.  Now, especially now I'm in my 70s, they seem to see flashing £ signs.