SLLM (Single Lady Large Mortgage)

Sistergold

JennyJukes said:

Hellooo how is everyone? 

I interviewed for another job at a starting salary of 12k more than my current salary and a further 15k at the top end... I'll find out next week if I got it, fingers crossed!  

Congratulations, that’s a good jump in salary! Easy transport to work is also a very good plus! For me I just always have to drive, as it takes too long to get to work and needs many changes! Xx

family355

Brilliant figures for mortgage and savings-you would have literally paid my mortgage off in the last year and then some! 😲🙌

Felicityfandangle

Hi, I'd really like to join this thread if that's ok? Your stories are an inspiration! 
I'm 55 and I've got 64k, give or take, left  to pay on my mortgage and a ton of home improvements that need to be done. I feel like I want to prioritise my mortgage because the idea of being out of work and losing my home terrifies me. I only just remortgaged on a 5 year fix on a 10 year term and overpayments are capped at 10%. Over that ERC is 5% reducing by 1% a year over the 5 years. Ideally I'd like to mortgage free by the time I'm 60, so I'm just going to have to suck up the ERCs. I think I need to set some manageable goals the whole 64k feels very daunting. 

Friday1989

Hi everyone  I'd also like to join.

I bought my first flat last year. I had a good deposit but still had to have a family member on the mortgage with me because I couldn't get a large enough mortgage to buy in London on my own (despite paying more than my mortgage in rent...)

I really want to get the numbers down for a few reasons:
1) In 4 years my 5 year fixed rate ends and I'll need to remortgage on my own.
2) I have a stressful job and will definitely need to go part time at some point in the future!
3) If things go wrong in my life I'd have the option to move to another part of the country and own outright

I'm overpaying by £100 each month and have done a couple of large overpayments when home improvements weren't as expensive as I'd budgeted for. I have a job interview soon and if I get it, I'll get a 5k pay rise so my plan would be to increase my overpayments by the extra each month. The biggest thing I could do to save money is stop smoking but it's hard!

Sistergold

Hello @family355, welcome @felicityfandangle and @friday1989. The more we are here the merrier as we smash our mortgages and do all the fun things to our homes! Always heartwarming to know others working their way through their mortgages! Xx

Felicityfandangle

Thank you @Sistergold. This is a fantastic thread everyone is so positive! 

Friday1989

@tudorfan39 I love the power of that cat  Not quite the same but the man I bought the flat off reminded me of my grandad who died a few months before I bought and I think that did influence me. He still pops round to pick up his mail and have a chat

@LadyWithAPlan I think practicality wins. You can fall in love once you decorate and make it your own. It definitely wasn't love at first sight with my flat but it met all my criteria (location, transport links, price, old, garden) and I wasn't paying to have it done up how someone else liked it. It has issues that will need addressing, but nothing that can't wait a while. I won't use dating analogies... There's a reason I'm a single lady with a large mortgage

Sistergold

@Friday1989 we will let you off not  using dating analogies! 😹😹😹 Even me now I am single for a reason and I will not want to tie another knot again! Just want to keep life simple! You are so right once a house meets the practicalities and you then put you mark when you move in you will just be falling in love with your house everyday!  Nothing worse than buying a house and you find it’s not working at all, selling within a short time is like a very traumatic/bloody divorce! Xx

LadyWithAPlan

@Sistergold @Friday1989  oh dear what have I started... this is now sounding like an arranged marriage
You are so right once a house meets the practicalities and you then put you mark when you move in you will just be falling in love with your house everyday! 

Also about be single with a LARGE mortgage - as opposed to single with a decent deposit  .. I nearly bought years ago and then my partner did so ... I am not dating til I part own a home

I realise I don't like these builders white everywhere, standard yawn new stuff ...

Queen_of_the_Hive

Ladies you do make we smile on your dating analogies. @Friday1989 love your story of the old man. It's funny how we make connections to people in life. I became good friends with my neighbours in the house with the ex from our shared DIY disasters of the previous owners. The owners of our properties were related & DIY was not their thing 😫.