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The second hurdle - Nichelette v the huge mortgage

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Comments

  • Nichelette
    Nichelette Posts: 2,216 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker

    So they seem to want me in the job I thought. Which is technically a promotion, but is also FT and further away. I think they may work with me on terms and I think I would be good at the job. I have no idea what to think anymore. This is so hard 🫠. Don't get me wrong, I know in a lot of ways I'm in a fortunate position, but I really don't know what to do anymore. I have considered whether they would let me job share with person on maternity leave but I think she'd possibly want more hours. I really need to have a good think..

    Finally bought a home
    Starting mortgage £289,500 31.01.19 - Current outstanding £181,991.57
    Overpayments since 27.03.19: £59,482.47
    Moving fund so far £4500 - Premium bonds £4,000
  • Bargainhunter30
    Bargainhunter30 Posts: 407 Forumite
    Part of the Furniture 100 Posts Name Dropper

    Can you contact her in a non professional capacity and ask what she's thinking? A job share doesn't always have to be equal. Could you do a 2/3 day split?

    Mortgage start date Nov 2014  - £90,545 over 25 years
    Re-mortgage Oct 2017 - 78,295 over 23 years
    Re-mortgage Jan 2020 - 55,000 over 26 years @ 1.94%
    Current Mortgage Outstanding Middle December 2020 - £
    47893.35 - a reduction of £42,652 in just over 6 years!  


  • Nichelette
    Nichelette Posts: 2,216 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker

    I was thinking about doing this. I'm really busy today but had an interesting chat with another manager and it looks like that particular team are pretty flexible, so I think there may be scope to negotiate a 4 day week or maybe compresses hours or similar. If I think I'd like the job it may be a better alternative than looking for part time work elsewhere because I'm almost certain I'd end up on significantly less hourly. If I did 2 days in the office I'd not love the travel but it's about 45 mins away so not awful. My main worry is M25 accidents... My current journey is 25 mins but it's clear rural roads. Oh, and the job comes with a car so I could could sell mine which I'd still get a good few quid for.

    Finally bought a home
    Starting mortgage £289,500 31.01.19 - Current outstanding £181,991.57
    Overpayments since 27.03.19: £59,482.47
    Moving fund so far £4500 - Premium bonds £4,000
  • beanielou
    beanielou Posts: 99,575 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Mortgage-free Glee!

    Lots to think about.

    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.

    ***Fall down seven times,stand up eight*** in ~~Japanese proverb.
    ***Keep plodding*** Out of debt, out of danger.
    One debt remaining. Home improvement loan. 19months left.
  • Merlin's_Beard
    Merlin's_Beard Posts: 1,747 Forumite
    Eighth Anniversary 1,000 Posts Photogenic Name Dropper

    Impressive and helpful - more of your payments going towards principle.

    Start mortgage date: August 2022; Start mortgage amount: £240,999; Original mortgage free date: August 2056
    Current mortgage amount: £224,460.73
    Start student loan 2012: £29,750; current student loan: CLEARED July 2025
    Unread owned books Jan 2026: 256
    Undone crafts 2026: +1
  • Jessy103
    Jessy103 Posts: 2,680 Forumite
    Ninth Anniversary 1,000 Posts Mortgage-free Glee! Name Dropper

    Great stuff! X

    I've been mortgage free once, so let's do it again!
    Starting balance March 26 £191,274.53
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