SLLM (Single Lady Large Mortgage)

Sistergold

@LadyWithAPlan I have also been planning to do the upholstery course, I think that will be a nice one to do? Means you can change furniture appearance just like that from time to time? 

I have generally rented in and finally bought in suburbia rather than central London as you do get more for your money. Driving is also easier, air is “cleaner” and you are in London without feeling so cramped. But as you said if you have to work in central then cost of travel goes up a bit? As you get older suburbia feels less hectic I think? Xx

Sistergold

Dear friends, finally some good news! My money for treadmill has been refunded! Thank God! 

LadyWithAPlan

Sistergold said:

@LadyWithAPlan I have also been planning to do the upholstery course, I think that will be a nice one to do? Means you can change furniture appearance just like that from time to time? 

I have generally rented in and finally bought in suburbia rather than central London as you do get more for your money. Driving is also easier, air is “cleaner” and you are in London without feeling so cramped. But as you said if you have to work in central then cost of travel goes up a bit? As you get older suburbia feels less hectic I think? Xx

I did an upholstery class at school and loved it. However I have a  chaise and also a low  carved bench that both need reupholstering so I think it may have to happen The drilling one might have to take precedence... there have been a few men who have come over to drill and seemed surprised when I actually handed them electric tools and some nails

I sold my car a couple of years ago, having had one in Central London for over 2 decades and have not missed it all. My family all live in the countryside, its beautiful but not for me. I love art, galleries, gigs, film nights, the theatre and I like it to be near.. I do though need to start looking on a 5km  London circle radius at least to see what prices are a bit outside as lockdown convinced me I have to buy with a balcony or garden.  Still I am fortunate to be able to earn well so at least I have some choices. 

Queen_of_the_Hive

Sistergold said:

@LadyWithAPlan I have also been planning to do the upholstery course, I think that will be a nice one to do? Means you can change furniture appearance just like that from time to time? 

I have generally rented in and finally bought in suburbia rather than central London as you do get more for your money. Driving is also easier, air is “cleaner” and you are in London without feeling so cramped. But as you said if you have to work in central then cost of travel goes up a bit? As you get older suburbia feels less hectic I think? Xx

I too moved out - zone 3 and enjoy living here. central London was always just a bit too out of reach and I prefer the quieter life. Still very fun to look. 

My local adult education centre does some really great DIY / haberdashery skills workshops. Maybe this is something which is offered in your local areas @Sistergold and @LadyWithAPlan. 

This week I found a couple of really great BTL investment videos on Y Tube, some good down to earth advice which is always good to get so going to watch some more investment type ones so we'll see how we get on with this. My partner's had some changes in circumstances so we got some advice from a financial advisor. This is the first time i'd contacted one. However after the chat its seriously given me some food for thought whether to review to go for a review myself. Is this something others have done? Would be keen to here experiences if this is the case. 

Sistergold

@LadyWithAPlan, you are lucky that you have the upholstery course under your belt already! Yes the drilling course is really the most basic and gives you power tools confidence. If one needed to do only one course then the drilling course is a good one. 

@LadyWithAPlan I do get the excitement of staying close to ‘all the action’ in central London and to be honest that’s part of what is good in London, theatres etc. A single lady does need activities at their fingertips! That’s the nice thing about being single too, you can live where it’s best for the kind of social life you want, no negotiations! Xx

Sistergold

@Queen_of_the_Hive, thanks for the adult education centre recommendation I will certainly look into it as pandemic eases off I need to move on and get more diy skills. I have not seen a financial adviser, have always worried it will put me under pressure? I have had calls from some and found the whole approach pushy. 

 

LadyWithAPlan

Sadly my upholstery course was 30 years ago so I can't remember much apart from it was fun, much easier than I thought and lovely to see something in your home you have crafted. 
I would have never thought of doing a drilling course but it is perfect for me. 

Yes trying to be MSE and saving like crazy does contradict my single life as I live on my own so hard to balance spending with saving. But I have just been in Europe for 5 weeks so I can't complain 

May I ask your definition of suburbia as in where you moved out to? As need to reeducate myself as buying in soho is no longer possible! 

curlywurly82

Hello ladies, can I join you?

I'm late thirties and this year I sold my flat of 15 years and upgraded to a 3 bed semi in a market town.

The mortgage on my flat was only £263 per month so a nice small mortgage which I was able to overpay.

I'm now paying over £1k a month. The mortgage is affordable in terms of multiples of salary as it was just under x4. However compared the meagre mortgage I did have it feels like a ginormous commitment.

I will be seeking to overpay 1% a year for the first year, hopefully rising in the 2nd year. 

Sistergold

LadyWithAPlan said:

May I ask your definition of suburbia as in where you moved out to? As need to reeducate myself as buying in soho is no longer possible! 

My definition of suburbia is “leafy green residential areas, where going into central London is a bit of a commute, but it’s not a difficult commute(far but not too far). It takes me about 40 minutes to get to central London and am in Zone 5. So for instance I would say suburbia could include zone 3 and outwards, in Greater London parts.  

The good thing is you get a better deal for your money, but you have a longer travel for whatever you need in central London! For £640k by moving out I fulfilled my wish list and more. The 19 boroughs of Outer London are Barking and Dagenham, Barnet, Bexley, Brent, Bromley, Croydon, Ealing, Enfield, Greenwich, Harrow, Havering, Hillingdon, Hounslow, Kingston upon Thames, Merton, Redbridge, Richmond upon Thames, Sutton, and Waltham Forest.
The further out you go the more you will be able to buy. I have a friend who just completed on a 1 bedroomed house, with lounge/kitchen/dinner parking and front garden. It’s a freehold and was built as back to back 1bed properties. The purchase price was £230k and thus was in Greater London. Really nice place also has loft, but not converted. 
xx

Sistergold

curlywurly82 said:

Hello ladies, can I join you?

I'm late thirties and this year I sold my flat of 15 years and upgraded to a 3 bed semi in a market town.

The mortgage on my flat was only £263 per month so a nice small mortgage which I was able to overpay.

I'm now paying over £1k a month. The mortgage is affordable in terms of multiples of salary as it was just under x4. However compared the meagre mortgage I did have it feels like a ginormous commitment.

I will be seeking to overpay 1% a year for the first year, hopefully rising in the 2nd year. 

Oh hello @curlywurly82 and welcome to SLLMs. We are so happy to have you here, and it’s always exciting when we have another single lady managing to secure a roof over their head! 

So well done for being disciplined enough to upgrade your lifestyle! Being in a house is the best way forward if one can afford! 4x your salary does make your mortgage reasonably affordable but like you said it is a jump from what you were paying so we say you have joined the big girls now? Overpaying is a game changer for sure especially in bringing monthly payments and/or mortgage term down. At the start I was paying £2.2k per month but am now down to £1.9k per month because of OPs. I never opt to shorten the term so far as I prefer to reduce the monthly payment just incase one day life happens! One day when my monthly payments become ridiculously low I will just pay it all off., Will see. 

Very soon the payment of £1000 will be the new normal for you! Congratulations on your new house! Xx