A new chapter with another mortgage!

Morning all, 

I've been reading through some of the diaries on here and it's given me the kick I need to start my own journey!

I'm in my early 40's with 2 mortgages.

My initial mortgage was taken out almost 10 years ago... I converted it to a buy to let 3 years ago now - it was my first house.  I've got approx. 75k left to pay on it, with 14 years term.

I split up with my long term partner earlier this year.  I moved back in with mum and managed to save 44k to put towards a new house.  I moved in during September and absolutely love it!

My second mortgage is for 165k over 25 years... when you add the two mortgages together.... it's a lot!!  I've also spent quite a bit furnishing the house out, as I literally had a tv, dressing table and duvet set from my previous relationship to take with me.  But hey-ho, it's given me the opportunity to kit the house out exactly how I want it.  Every cloud eh?!!

So it's just me, my pooch and my mortgages to try and pay off... wish me luck!

L xx


Replies

  • caelercaeler Forumite
    2.6K Posts
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    ✭✭✭✭
    Good luck on your journey! 
    Mortgage started on 17 December 2012 at £169,000 with a 25 year term finishing in 2037
    Mortgage Repaid on 20 April 2021
    Click here to visit my Mortgage Free Wannabe Diary
  • Ami-RoseAmi-Rose Forumite
    112 Posts
    Part of the Furniture 100 Posts Photogenic Name Dropper
    Good luck! 😊
    MFW: Starting balance, Jan 21: £102,950
    MFW21 Challenge #25
  • SistergoldSistergold Forumite
    1.1K Posts
    1,000 Posts Second Anniversary Name Dropper Photogenic
    ✭✭✭
    Welldone and 🤞 
    Initial mortgage bal £487.5k, target £380k
    Mortgage start date first week of July 2019,
    Mortgage term 23yrs(end of June 2042🙇🏽‍♀️), 
    Target is to pay it off in 10years(by 2030🥳). 
    MFW start Jan2021 mfw#47 (2020 mfw#136)
    £12K in 2021 #54 (in 2020 #148)
    Recovery Pot £725/15k
    To save £100K in 48months start 01/07/2020 @£73400 SoFar 
    Am a single mom of 4. 
  • edited 3 January at 6:45PM
    barney77barney77 Forumite
    13 Posts
    Part of the Furniture 10 Posts Combo Breaker
    edited 3 January at 6:45PM
    A happy belated new year to you all!

    I've been a bit quiet on here since my initial post.  I've been focused on furnishing the house, which has not come cheap and I've not really been in saving mode... 

    However, since the 1/1... that is changing!  I've started writing down my daily spends since 1/1 to try and focus the mind and see where my hard earned cash is going.

    Win's so far include receiving a £75 pre-paid Mastercard from Sky from my mum referrring me... winning!!  I also recently referred my friend to Sky, so should be getting another £75 shortly.  Will use these to put towards my daily spending for food/petrol.

    Next things on my list are to source a cheaper energy provider and finally decide on whether to go sim only on my phone or get a cheapish new one... decisions, decisions!

    L xx
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