SLLM (Single Lady Large Mortgage)

Sistergold

Thank you @LadyWithAPlan, its been like travelling at snail pace to get to the £419s! Yes the £50 will at least remind me of the debt so I don’t relax. 

The £100k is for an extension. I had plans drawn last year and luckily they were approved, which was a relief as I am in a conservation area. The whole build will need £200k plus but I want to get to £100k as I plan to do it in three phases and asses at each point if going further is really necessary. It’s really funny how things quickly escalate once you buy a house as you then want more! 

@LadyWithAPlan, deciding which area to buy is hard hey? So much digging, looking as you don’t want to owe so much and end up in the wrong place? When the time comes you will choose the right place! Just get your best possible place! Xx

Sistergold

Reflections for today 
Does owning a house not feel like having your cake and eating it? 

I was just reflecting on the fact that truly the mortgage balance is going down slowly but surely. What started as a scary figure if £487500 is now slowly moved down to £419k. The progress has been slow but sure and after some years the downward trend will be even faster as more will go towards repayments( as we know interest is more front loaded). I was just checking values on Zoopla (yes I know not to be relied on but really it’s a feel good process as I am not selling anyway and fooling myself is allowed from time to time?) so the Zoopla value range is now at £676k to £747k, for a house purchased at £640k. Having said that if worst case scenario is that it’s still at £640k it would mean £640k - £419k = £221k equity. All this and I am also staying in the house? I think ladies this is truly a case of having my cake and eating it? No? 

Estimated rental for this house is £2550 I am paying under £600 interest per month add insurances of say £400 so basically £1000 “rent”. Surely this makes the case for buying your own house for any lady reading and having cold feet to commit to this big so called debt! We all truly need a place to stay and call our own! Really nothing beats this satisfaction hands down! 

Well done ladies for buying for you can truly have your cake and eat it! 

Those wondering whether to buy see for yourselves how quickly the figures stack up in your favour! Two years on and I could not be happier! 🤗👯‍♀️🥳

Sistergold

Hello ladies
I am essentially off this week, just dropping into work if critical but so far so good. Hoping to spend time with the children who finally come back today or tomorrow! They should have come back Sunday but Mr Ex asked for extra days. I am hoping that tomorrow we can buy some paint and do their rooms? Will see how that goes. 

I am hoping for nice weather today but will see. On the finances front I am now trying to give the extension pot a big push. Some money was paid in yesterday so added just under £15k to the building fund and so am now at the half way mark! So £50k to go. I will be putting every penny I can get so that I can get to £100k and forget about that fund for now. 

Slowly but surely I should get there! 

curlywurly82

Halfway there in a year! That's a big achievement. I could never imagine being able to save that amount in a year, am in awe. 

Sistergold

thank you @curlywurly82, I managed to save £35k in the first year, now in second year and have just managed to bring it to half the target. Not easy but have to persevere. Fingers crossed I can bring it to £70k by end of June next year. Xx

LadyWithAPlan

Sistergold said:

Hello ladies
I am essentially off this week, just dropping into work if critical but so far so good. Hoping to spend time with the children who finally come back today or tomorrow! They should have come back Sunday but Mr Ex asked for extra days. I am hoping that tomorrow we can buy some paint and do their rooms? Will see how that goes. 

I am hoping for nice weather today but will see. On the finances front I am now trying to give the extension pot a big push. Some money was paid in yesterday so added just under £15k to the building fund and so am now at the half way mark! So £50k to go. I will be putting every penny I can get so that I can get to £100k and forget about that fund for now. 

Slowly but surely I should get there! 

Well done on the monster savings and being 50% there whilst doing all the other goals as well.

You will be glad to know I have just viewed my first 2 flats and ouch the service charges. Need to look for freeholds as well

slm6002

How exciting to be looking.  Even if not in the right place or the right tyoe of thing, you can at least narrow your search until you do find the right property.  Very exciting 

Sistergold

LadyWithAPlan said

You will be glad to know I have just viewed my first 2 flats and ouch the service charges. Need to look for freeholds as well

Thank you at @lLadyWithAPlan, getting there with the savings. 

You Finally Viewed! Well done! Now you can begin to really narrow down what you want. Be flexible so that your gut/feelings will direct you in the right direction. When I was viewing what I originally wanted changed as I viewed as the viewings helped to refine what was important. Exciting! Xx

curlywurly82

My lovely brother in law came to ikea with me to pick uo the chest of drawers and then volunteered to pop over on sunday to build them. 

So, that's one job of the to do list. I have also been back to the storage company to check the removal men emptied it and also to unlock it and conform with the company it is now empty.

Still lots to do but slowly does it. 

Sistergold

@curlywurly82, you are making good progress there. Lucky brother in-law came to the rescue!