SLLM (Single Lady Large Mortgage)

Sistergold

@Me_v_The_Mortgage_Mountain,  “if when I retire I can't afford the house I will just downsize and free up the equity, or take in a lodger or two!”
👆🏾 That’s my view of this house, if need be sell release equity when the time comes. Xx

savingholmes

Sistergold said:

@Me_v_The_Mortgage_Mountain,  “if when I retire I can't afford the house I will just downsize and free up the equity, or take in a lodger or two!”
👆🏾 That’s my view of this house, if need be sell release equity when the time comes. Xx

My preference would be lodgers or even an interest only mortgage again in that scenario. Hopefully it won't come to that for any of us. 

Well done on what you've paid off in a year - that's amazing. I'm due to pay off around £7.5K in the first year without OPs.

LadyWithAPlan

I love my single life and my freedom. I do think occasionally it would be nice to have someone around a but more but I have realised that unless it is the right person relationships can make life harder.

savingholmes

LadyWithAPlan said:

I love my single life and my freedom. I do think occasionally it would be nice to have someone around a but more but I have realised that unless it is the right person relationships can make life harder.

I am looking forward to it - very close now - but at the same time I need to find ways of improving my social network or I am going to have a lot of unsaid words...

Right now I'm doing all the practical things. This weekend I bought a height adjustable desk on FB marketplace - and another couple of items too - all of which will help make the place more mine - and set me up more for the hobbies I want. I've also just bought some solar motion sensor lighting for outside so that I can easily put the bins in and out even in winter - and to act as a bit of a deterrent to any would be thieves. Where I live we've not had any trouble though - so just hoping it stays that way.

Sistergold

@savingholmes, you are really doing well to start sorting things out so quickly. My Outside lights were not working when we moved in and only last August did I order sensor flood lights and had them installed. Now all good when you go outside very responsive and bright. Has made me feel safer when I get home at night. Happy I managed to have it done before winter. 

It will be good to have a circle of “friends” for sure to support you in this journey of being single! X x

Sistergold

@LadyWithAPlan, definitely better to be alone than being with the wrong person! I vote single with peace every time! Xx

LadyWithAPlan

@savingholmes actually being single means you often have more time, can take up more hobbies and can extend your networks in new and fun ways for you.

Sistergold said:

@LadyWithAPlan, definitely better to be alone than being with the wrong person! I vote single with peace every time! Xx

Absolutely )

savingholmes

Thanks @Sistergold and @LadyWithAPlan
Definitely better alone than with the wrong person. I am so looking forward to peace. I'm noise sensitive and appear to be married to one of the noisiest people on the planet. Put it this way one of the highlights of my WFH year was when he took his electronic drum kit and guitar to MIL's!!!

Sistergold

Something yet to be resolved 
Good morning dear ladies. 

Past 2 months my finances have been a bit stretched as I had some renovations to do. Well what renovations you may ask? You see I still have a property abroad which we jointly own between me and Mr Ex! 🤔 mmm you might ask why? To be honest I don’t even know why we have not sold it? At the time of separation I think we just had too much to deal with right here. The property is abroad and it just seemed an unnecessary headache to tackle at the time and is still a headache even now. In a way maybe financially it just did not get to that point of needing to sell it as it’s fully paid up so it does not affect either of our finances in needing to borrow or move forward. One other problem has been covid adding to the whole mix of not wanting to travel. On my part as we have four children together and as we seem to have sold everything else maybe that will be the one thing that we will jointly leave as inheritance to our children? For me I am not really bothered whether we sell straight away or not as I have not really planned for the money from that. 

 To be honest no one knows and for now it’s one bridge which we just have not burnt or crossed. 

Anyway some 3/4yrs ago I did talk to him about the need to renovate it but he just ignored me. The property has always been “under my care in a way” I mean I have always been the one overseeing upkeep etc although money will come from joint funds. Since divorce though he has not put any money into it or asked after it. 6 months ago I was told the roof is now leaking amongst other things and so two months ago I just decided I could not just let the property collapse. I contracted someone to do all necessary renovations, roof repairs, paint inside and out of house, new plumbing, sort all electrics, new floors, new bathroom and other necessary bits. Spent about  £15k so far. At start I thought I will only spend maybe maximum of £7k but like all renovations it became necessary to do unplanned works as it was obvious certain things needed redoing or replacement. Anyway it’s now almost done but as I did not want to continue sinking money I decided I now need to rent out the place. 

It has been a process to get a tenant but this week someone finally signed contract and paid deposit and first rent. I really can not wait to get the rent as I really need to start recovery of monies spent! I did debate as anytime Mr X can ask for us to sell the said house. This has kept me from renovating the house before but I felt if house collapses I would also loose my share. If he asks for us to sell now I have the invoices and I will try to recover half of those expenses but if I can rent it out for some time and we then sell the house I will just leave it at that. Having renovated the house if we should sell it will be easy as it is like new. The rental will convert to about £600 plus per month, so I need about 2years just to recover my money! Anyway the count down starts now! I do still need to spend a few more thousands but for the next few months I will save the money from rentals and then use that to finish the renovations. 

So I have started a Recovery Pot for that property in my Monzo account. I will be adding all rentals received into that pot and I will be keeping a track on here to see where that money is. I want to be able to keep all money from that house there, any further renovations will have to come from there going forward. More importantly though when the money hits £15k I will take that into my own account and then now carry on saving in that port purely for that house until it’s sold or something. I want to know how much I would have lost or made from the house while waiting to see what will happen to the house. 

To be honest once you have a life together with someone I am not sure if you can ever be entirely separate? So many areas I am still interlinked to my Ex. The children, that foreign property, I still even have his documents I mean his education certificates, birth certificates etc. He asked me to continue keeping them for now? 🧐
Oh and we do have some residential plots of land which we were planning to eventually build and rent out abroad. We wanted to retire abroad you see but that plan is all gone now. That will have to be eventually sold or given to the children to be honest I am not really bothered as it’s land so can sit for a while. The house is going to be the constant headache really as it needs maintaining and managing. 
Anyway Looking on the bright side. Have received £725 from foreign rent
Recovery Pot £725/£15k
Mortgage was taken Monday so that’s good one payment down! 

Have a wonderful week 💋

Sistergold

Mortgage update 
Mortgage went out on Monday and just now checked my balance which is £414415.78 yey! Slowly but surely moving down!