Dolly's Diary

edited 26 February 2021 at 12:37PM in Debt free diaries
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edited 26 February 2021 at 12:37PM in Debt free diaries
Hey all, 

Been here before and managed to get debt free and mostly I've stayed that way. I've just bought my flat so I am waiting on the mortgage balance to update on my online account which will happen in a few weeks then I can start on this DFW journey again. 

My Debts
£TBC - Mortgage
£0.00 - Sainsbury's Credit Card (SBCC)
£3,000.00 - Mother

So I really wanted to do this all on my own but due to COVID Nationwide decided after giving me a DIP that they needed a 15% deposit rather than a 10% deposit. I didn't have any extra £3,000.00 sitting in the bank so rather than losing out on the flat my Mum gave me the money so I will try to get her paid back ASAP. 

This is going to be a long diary. My mortgage term is 16 years and I would like to get it paid off before then - wishful thinking!

I'm going to keep a track of my spending and try to get as much as I can on sale - this is for everything cos I do love a bargain but also need to be smart about my spending because I am an official adult with my own home now!

Looking forward to sharing this journey with you all. 

Dolly
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Replies

  • edited 26 February 2021 at 4:37PM
    [Deleted User][Deleted User]
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    Tenth Anniversary 1,000 Posts Name Dropper I've been Money Tipped!
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    edited 26 February 2021 at 4:37PM
    Mother - £3,000.00
    £100.00 - 26/02/2021 - £2,900.00 outstanding
  • LittleMissDeterminedLittleMissDetermined Forumite
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    Hi Dolly, subscribing to your diary for support, cheerleading duties and my own general nosiness :wink:

    We are currently awaiting decision on full mortgage application following approval of DIP with Nationwide.  We are selling to buy another so we have a big deposit from equity in our current home but not sure they will like my short term debt balances so we are just waiting to find out with fingers, toes and eyes crossed. 

    Congratulations on the flat purchase! It's nice of your mam to loan the difference so you didn't lose out on the one you wanted :) Assuming there'll be no interest either which is a positive, 

    Good luck on your journey, I will be here to cheer you on 

    LMD x 
    Life gets in the way...PADding is addictive... Saving's better than spending...
    My debt free diary - Third time's the charm
    2023 1p challenge #11 | SPC #017 | DFBXMAS23 #12 £785/£4713
    CC#1 £0 | CC#2 £0 | CC#3 £0 | CC#4 £0 | CC#5 £0 | CC#6 £0 | CC#7 £3928 (0%) ...TOTAL £42361 £3928
    Target debt free date: 26 May 2023...117 days to go!
  • Hopefully you don't need to wait too long for a decision from them.

    I've just ordered a few bits for the new place. Trying not to go too crazy but it's so hard. Can't stop looking at furniture and all things home related. 

    I'm keeping everything crossed for you.

    Going to go find your diary so I can be your cheerleader. 

    Dolly
  • Honeysucklelou2Honeysucklelou2 Forumite
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    Congratulations on your new home. All the best with chipping away at the mortgage.
    paydbx2023 #36 £70/£4300 . 2023 savings challenge £10/£2000 EF £204. Savings 2 £000
  • So my Mum gave me a £100 gift card that she got off her work for Christmas so I just ordered the following and only paid £17.96 for it all!

    - Breville kettle
    - Breville 4 slice toaster
    - Morphy Richards Iron
    - Viners 24 piece cutlery set

    Will pick it up on Friday at my local Asda and just put it in my Mum's spare room until I move. 
  • LittleMissDeterminedLittleMissDetermined Forumite
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    Hopefully you don't need to wait too long for a decision from them.
    Here's hoping! I'll be so excited to get packing once we get the go ahead :smiley:

    I've just ordered a few bits for the new place. Trying not to go too crazy but it's so hard. Can't stop looking at furniture and all things home related. 
    Are you on Facebook? Marketplace has a lot of really lovely furniture and if you look around you can often find pieces that match from different sellers.

    LMD x
    Life gets in the way...PADding is addictive... Saving's better than spending...
    My debt free diary - Third time's the charm
    2023 1p challenge #11 | SPC #017 | DFBXMAS23 #12 £785/£4713
    CC#1 £0 | CC#2 £0 | CC#3 £0 | CC#4 £0 | CC#5 £0 | CC#6 £0 | CC#7 £3928 (0%) ...TOTAL £42361 £3928
    Target debt free date: 26 May 2023...117 days to go!
  • I can't wait to pack! 

    Yeah I've spent most of the day on there today trawling through stuff.

    Saved a few items so will have another look tomorrow to see if I really want any of it. 
  • So my credit score has updated today and it has gone from 424 to 370 due to the hard search by Nationwide for my mortgage. 

    I'll get that built back up again over the next few months. 

    I had a look at the offers for a 0% CC on my report and it say's that I have a 100% pre approval of an MBNA which has a 0% offer for 20 months for purchases. I think if that it still available when all my money is transferred for the mortgage I might apply for that, it will help with the furniture purchases and I will get the full balance paid off before I pay any interest. 
  • So I've been paid and I've transferred over the following;
    • £100 to my Mum's account - £2,900 outstanding
    • £100 to my EF - £7,900 left to save
    • £200 to my H2B ISA - Nothing left to save! Will request the closure of this account on the 3rd March so my solicitor can apply for the 25% bonus for my deposit
    It should be a cheap month again for me due to the fact we're still in lockdown so that will work well for me. I'll wait till all the bills come out then work out what I have left to work with then give you another update then. 
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