Upsizing from a one bed flat to a house

getmore4less

In practice it makes little difference save or overpay other than having enough to make the move happen.

18m-24months a lot can change but going from where we are now I summarised roughly where you need to be. 

my conclusion was. If you can find £1,500pm the mortgage will be down to £92,500,  which will be much closer what you need.

That can be overpayments or savings but you need to have at least £1500pm put away somewhere(that includes the mortgage not extra)
current mortgage £500pm + debt payment £500pm just another £500pm to find.
If you can save more that would be better and you can review around maternity time what adjustments might be needed. 

savvygirl1986

getmore4less said:

In practice it makes little difference save or overpay other than having enough to make the move happen.

18m-24months a lot can change but going from where we are now I summarised roughly where you need to be. 

my conclusion was. If you can find £1,500pm the mortgage will be down to £92,500,  which will be much closer what you need.

That can be overpayments or savings but you need to have at least £1500pm put away somewhere(that includes the mortgage not extra)
current mortgage £500pm + debt payment £500pm just another £500pm to find.
If you can save more that would be better and you can review around maternity time what adjustments might be needed. 

Yes okay that makes sense. It is good for me to have more concrete figures in mind to have something to aim for. Thank you for your help and advice. 

[Deleted User]

Are you going to be receiving statutory maternity pay ? That is the 90% of pay for 6 weeks ? Plus the £151 a week after that ?
If that is the case - the pay they work that 90% on is all money you get PAID in the 17th to 25th week of pregnancy. 

So if you were able to do tons and tons of overtime, you’d get 90% of that again for 6 weeks. 

Many many moons ago I earned £2000 a month and did £2000 a month overtime over my 17-25 weeks! 

When I got my 90% - I got 90% of £4000 average monthly pay ( ie double )
Ive just checked and its the same still, so thats a way to add more funds to the pot  

savvygirl1986

Densol said:

Are you going to be receiving statutory maternity pay ? That is the 90% of pay for 6 weeks ? Plus the £151 a week after that ?
If that is the case - the pay they work that 90% on is all money you get PAID in the 17th to 25th week of pregnancy. 

So if you were able to do tons and tons of overtime, you’d get 90% of that again for 6 weeks. 

Many many moons ago I earned £2000 a month and did £2000 a month overtime over my 17-25 weeks! 

When I got my 90% - I got 90% of £4000 average monthly pay ( ie double )
Ive just checked and its the same still, so thats a way to add more funds to the pot  

Yes I will get statutory maternity pay. I had worked out the 90% and the £151 week after then decided on what I would need on top of that to be comfortable financially. 

That's good to know that they pay your 90% on your pay weeks 17-25. I was wondering at what point they took it. I will definitely do that as it seems like a no brainer.  Thank you

savvygirl1986

dimbo61 said:

Well done so far 
You have bought your first home and now have most of the furniture needed when you do move to a bigger property.
Look at eBay Gumtree and local Facebook market place for any other bits you might want in the next home.
Your clearing your debts while also saving like mad Excellent 
You can hire a van or a van and a man for the move but hopefully you have a brother or 2, uncle/dad to help you move.
You need to live the MSE way of life with everything.
Cheap smartphone ( I have a Moto G7) and cheap contract for less than £10 a month.
No Sky but maybe Netflix 
Cheap joint life assurance before any baby comes along !
Cooking at home, shopping at B&M, Aldi, Lidl, Poundland etc.
Looking at every bill you have.
Cancel the gym and go walking in the park.
Visit friends for meals and drinks and forget the pub/wine bar.
Camping/Caravan holiday in UK or France/Holland rather than flying to USA/Dubai.
Pay down the mortgage as much as possible but clear the credit cards as well.
Build up savings so you have the 3/6/9 months of income as emergency savings.
Lastly please consider an Offset mortgage so you can build up the baby fund while also saving interest.

Thank you! 
Yes saving and clearing down like mad! 

Yes will hire a van and get parents to help move

We don't have sky have had netflix for years at £5.99 per month and we make good use of it so will keep that.

We have life insurance already set up from when we bought the house. 

We cook all of our meals from scratch and my OH is an expert at doing the food shop and we eat healthily but don't spend a fortune as we plan all of our meals so no wastage and only buy what we need. 

Bills - saved £81 per month on remortgage (which will go towards overpayment) saved £12 per month on broadband and £14 per month on electric. Think that's everything now.

We don't have gym membership as we live 5 mins from the beach so go for walks along the beach.

We very rarely eat out maybe once a month a most and we always look for offers. Either 2 for 1 or cashback deals or luckily as I'm doing courses at work I'm eligible for a student card so we use my student discount. 

Our last break away this year was in a friend's massive garden out in the sticks and we camped so was a fun getaway but very cheap. We were due to cruise for our honeymoon next year but not sure that will go ahead due to the current situation so will see where we can get away for less in the UK.

Credit cards on track to be cleared by December due to bonus payment due soon. Once we switch to the mortgage deal the £81 saving will go as overpayment and all the money I was putting towards paying off the cards will be split between building our savings and paying down the mortgage.

We have just remortgaged so can't change deal for 2 years but will definitely consider this for next time.