SLLM (Single Lady Large Mortgage)

Sistergold

@LadyWithAPlan, yes I think in another 9-12 months I should get to £400s but with the low OPs I am thinking it might just be closer to 12months! Money can never be enough! So much to achieve from the same pot! Yes for now it’s just to save and if trades still a problem in a year or two I will just OP as at that point my two year deal will be ending as it restricts how much I can OP. 

@JennyJukes, with your car being known by your X it’s good then that you have sold it. Congratulations on getting a good amount on the car aswell! Doing without a car is worth a go really with the fuel increases looming on us? See how you go. 

badmemory

I would look into local rental companies, now when you don't need one.  So that when you do need one you know which one you want to go with.  I'm thinking rent a runner type rather than one that only rents out cars under 6 months olde.

Felicityfandangle

Good morning ladies. 
Crikey... It's been a really busy week on here it's fab to see all you single ladies just cracking on with it all. It's an inspiration! 
@Sistergold I think you're very wise to put off your extension at the minute. Trades are a complete nightmare! I'm sure they will catch up eventually as things settle down post covid or eventually supply/demand will balance out because prices will rise and more people will take up or return to trades.
@JennyJukes have you considered cycling? I've had a few spells without a car and cycled instead, you get triple the benefits, it saves you money, helps the environment and is good for your health. I had a folding bike (definitely the old lady type of cycling and not the lycra clad athletic variety) I could take it on a bus/train so I could cycle to work and bus home in the winter when it was dark, or I would cycle to/get off at a better bus stop to reduce my journey time I was surprised how infrequently the weather was too bad to cycle and with what you save you can pay for the odd taxi. Although, it should be said, we do have quite good cycle infrastructure where I live and not many pedestrians so you can cycle safely on the footway in some places. 
As for me.... Still waiting to hear from the job interview🙄 finding it difficult to focus on much else but I'll try and do something constructive this weekend for the sake of not letting the side down xx

Sistergold

Good morning ladies. 

Looking forward to mortgage going out tomorrow. Just calculated today that I now need to pay under £100k to get to 50% house “ownership”. Purchase price £640k - current mortgage balance £418k = £98k to reach 50%! At the moment I have £222k equity in the house, of-cause it might be less if the value of my house has gone down since or if I over paid initially or it might be more if the house value has gone up but for now I will just stick to the original house purchase price. 

The journey to mortgage freedom seems long but I think for now I am going to focus on paying off the £98k as it’s a smaller figure and knowing I have reached 50% will hopefully be good feeling? £98k is the milestone to look forward to for now. 

What is left for you to pay ladies to reach the half way mark? 

Have a wonderful day! 💋

LadyWithAPlan

Thats a great milestone target 50% and £98k
I gather some banks eg HSBC do online LTV change estimates based on mkt and your current payments/calculations, it might be a fun extra trackable goal.

I did some FIRE calculations and it is not as dire as I thought - I am more ahead than I thought (thanks to very old DB pension despite years of not paying into a SIPP) but as you say we are all trying to get maximum value from one pot of money: house OP, pensions and possible home improvements. At least we are all paying attention.

I think I dodged a bullet with that fixer upper given building contractor busy-ness and my lack of current knowledge, I note it is now on for £425k ..6 months on the mkt including as you pointed out through the SD holiday. I am working on my programme and not flat hunting til its done - Oct 31st is my new goal deadline.

I have the sun streaming in to my very affordable rental at present whilst I work from home and  chicken stock is bubbling ahead of a sweet potato, coconut and red pepper soup (all ingredients I have in) -  so life feels good right now.  I am trying to  change my freezing food habits and freeze  some of what I make immediately  as I always make large portions and then after day 2 I get bored of it so moving forward once food is cooled I am immediately batch freezing portions. Need to find some freezer proof labels.

badmemory

LadyWithAPlan said:

. Need to find some freezer proof labels.

I just use some address size labels I bought from T e s c o & cut them up.  I've found it more important to use a good pen.  The cheapos ink just seems to fade & die.

Sistergold

@LadyWithAPlan, it is good that you are ahead with your FIRE plan, most times as ladies we can be focused and we need to give ourselves more credit. With all the savings efforts you have been making it’s good to
know you are quite ahead. You really dodged the bullet with the fixer upper. At present probably worst case scenario is a house needing cosmetic upgrade and it probably needs to be something you can do yourself or wait a long while and be able to live with it as truly building supplies are scarce and overpriced and trades are super busy. The seller of that fixer upper can sell it to someone else. Some sellers are not really busy and trying their luck. 

Batch cooking and freezing is the way to go, makes life extra easy especially for a single lady as there can be better things to do with your time. Good luck with finishing your program by the end of October. As we go along I think buying will be less stressful even if prices go up or stay the same we can hope that people will be more realistic with their asking prices and bidding. XX 

LadyWithAPlan

badmemory said:

LadyWithAPlan said:

. Need to find some freezer proof labels.

I just use some address size labels I bought from T e s c o & cut them up.  I've found it more important to use a good pen.  The cheapos ink just seems to fade & die.

Thanks! As I have now got 3/4s of the sweet potato coconut soup batched and frozen as soon as I made it and it will be impossible to tell what it is ) 

@Sistergold yes I normally cook very well for myself but don't think to freeze portions as soon as I make it so this is my new focus. I will often buy reduced meat and just bung it in the freezer which of course means I can't then cook with it and re-freeze so I will have to learn to make recipes as soon as I can and then freeze.  Freezer currently has  red cabbage and apple, some soup and some apples ready for a crumble plus shop bought supplies. I may need to buy some more containers.

It is quite relaxing not flat hunting and I am making progress with my programme

slm6002

Good afternoon, finally the weekend.  I am still waiting on a start date from the builders for splitting the girls room.  I have been told i will hear today when they are coming, but i have been told this before so trying not to get my hopes up too much.
My plans are also now live on the council website for the porch and toilet/utility room.  Neighbours are not too keen but hopefully they will still get approval (by 4th December they say).  Still need to save for this.  My mind is much more focused on the girls bedrooms at the moment and hoping the image i have in my head will be similar to how they turn out, and they will in fact have some floor space (even though we have mapped things out i am still nervous it will not be the case).  Keep going ladies

Sistergold

Good evening @slm6002, weekend at last! Wow that’s exciting that your planning application is now live! Hopefully it will go through without a fuss. It’s a bit annoying when neighbours don’t seem happy about something that sound reasonable like an porch/utility room toilet? As neighbours it’s nice when a person makes an expansion as it gives light to what they can also do with their own properties. 

With regards to the builders and start date, oh that’s a bit annoying  when you have to wait for something you are excited about. Hope once they start they don’t play up in the middle of the project? Good luck!