Dolly's Journey to Mortgage Freedom

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  • savingholmes
    savingholmes Posts: 27,544 Forumite
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    We started out with gifted second-hand furniture... It does the job... 
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 236 payments to go - now £183,036 Equity 26.8%
    2) Spend on handyman & external building works & new patio door £12.65K
    3) CC £4.6K on 0% spends card but offset by £33.8K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £10.2K/£127.5K AVC target 8% value at 15/5
    5) FI Age 60 annual income target £13.7/30K 45.7%
  • family355
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    Same here, we once bought a new sofa 8 years ago, within the first month my sister spilt a glass of red wine over one of the chairs and my then 2 year old thought a blue pottery paint would look a lovely colour on it 😱 New bedroom furniture from ikea has so far stood the test of time! 
    Good luck in your journey 🙂
  • I'll gladly take some hand me down furniture. 

    Oh I love Ikea. I have malm drawer and beside tables that I've had for years that will be moving with me.
  • Nonnadiluca
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    The only new thing my DGD bought was a desk as she needed one quickly to work from home. 7 months later, and she is going to sell it and replace it with a second hand one as she said it looks cheap and nasty compared to her other, solid wood furniture. Her flat looks really stylish and expensive!
    Fashion on the ration challenge 2023: 66 - 2 = 64 - 1.5 = 62.5
  • [Deleted User]
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    I'm working from home so will need a desk. Will wait till I'm in though cos I need to figure out sizes for other furniture first.
  • Sitting waiting on the postman.Really hope I get my offer in this morning!

    Will keep you posted. 
  • [Deleted User]
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    Post has been and no mortgage offer. 

    Hopefully tomorrow.
  • Waiting for the postie again, fingers crossed it comes today. 
  • [Deleted User]
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    Mortgage offer has arrived. 

    One special condition is that I pay of my credit card in full before completion but the balance on that is only £150. 

    I've emailed my solicitor to see what I need to do now. 

    First time buyer so I am not exactly sure how this all works. 
  • FtbDreaming
    FtbDreaming Posts: 1,121 Forumite
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    Hi! I bought my first house in august and I got my mortgage offer in February so don’t be too disappointed if nothing happens for quite a while. Have you instructed your solicitor and sent the first money for the searches? (I think that was around £400). They also send you forms to complete for anti money laundering checks, confirm your identity and ask for proof of funds. 

    Good luck to you though! I remember how exciting it was when mine came through... then stressful when nothing happened... then I became resigned to that nothing was going to happen.. then after an emotional rollercoaster I owned the house! 

    Now I’m at the obsessively calculating mortgage overpayment phase and last year feels like a lifetime ago! Xxx
    Mortgage started August 2020 £69,700
    Mortgage ends Aug 2050 MFW: Aug 2027 
    Current Balance: £60,200 (59.9% LTV)
    MFW2020 #156 £723.13
    MFW2021 #26 £1184.71
    MFW2022 #11 £197.87
    MFW2023 £785
    MFW 2024 £528.15

    Determined to make it! 
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