Future Proofing my life: Deposit saving then MFW journey in under 13 years

Sistergold

LadyWithAPlan said:

Does anyone know if when I apply for a mortgage if they look at every bank account I have?
I have my current account where all my invoices comes in which is fine to show proof and statements etc. 
My concern is I do have a separate bank  account at a different bank just for MB and there are lots of back and forth payments to bookies which they probably will not like. I know its MB and I make money from it but will mortgage providers go looking at all my bank accounts I own not just  the main one - 

Does anyone know if this will be an issue for me to get my mortgage. Do I need to stop such payments now? 

 I am thinking - as I don't want to stop this extra MB  income stream - I will have to massively throw extra float money into all my bookies and exchanges then to try to limit the back forth of cash but as I do extra places on horses the liquidity can be a lot 

Hello
you need to make sure the account you don’t want them to look into is not linked to the accounts you want to present. If the MB is a “source of income” and you are sending deposits from there to your savings accounts then they might want to see how the money is generated. So don’t be sending monies back and forth for a while and just keep account private by avoiding transactions which will link accounts. Hope I make sense? Xx

LadyWithAPlan

@Sistergold yes thanks  -annoyingly  it is the bank acct that is also attached to my help to buy isa.. - maybe I can start transferring the DD to my help to buy from my main acct instead ..  Or maybe I can transfer my help to buy isa to my main bank account to negate the issue - it would be a reduction from 1.25% APR TO 1% so would lose about £1.50 /month on interest at present... That might be  the easiest solution.

Or I could get a new bank acct to do MB but  I just don't want too many hard credit checks just before I apply for a mortgage which I assume a new bank acct would.. or So I could start using my Monzo  acct for all my MB but then lose all my pots ..
such a pain.

Decisions decisions ..

I don't count MB as an official source of income and it wont be in the mortgage calculations. I  just view  it as extra  income that i normally split between SIPP and House savings/mortgage OP once I am there.
 

LadyWithAPlan

happymum37 said:

You sound ready to pounce. The right flat will be come just keep looking.  Good luck xxx

haha I am so ready to pounce  ..except  I am doing a  'The Lion Sleeps Tonight'  - had a few days off from looking at way too many  - not for me flats..

Sistergold

@LadyWithAPlan, there two choices I guess, stop the betting completely for next few months until mortgage issue is concluded or open a new account for MB? The search for opening a debit account should not cause such harm you are not getting new credit card or borrowing so no harm done.  I suspect you are not yet all guns blazing to find a flat? So by the time you get a flat it might be a few months after new debit account? Either way a debit account should not harm your mortgage application. Xx

LadyWithAPlan

Tx @Sistergold I will go get a new current acct then, thanks for solving my problem. I am seeing flats just not daily as trying to fit work, life and this programme in.
OOh I might be able to find a cash back one..

LadyWithAPlan

Happy Monday everyone - I hope you are managing to grab the sunshine whilst it lasts, I went to the gym largely so I could actually get out for a bit before doing my work.


I also popped into 2 local estate agents by me to see what they have. Tomorrow I am seeing more flats - I am starting by walking from the tube (as opposed to the DLR) to the one flat I like - it is practical - 2 bed but only one bath, it has a balcony. It might seem a bit out the way and the DLR walk was 13 min and through a little section of green I would not feel safe at night walking through.


Yesterday I went to the gym then a local fete to raise money for the area. So my small spending was on Tombolas, raffle tickets - I did win some hand wash and got a free bag with a large packet of crisps and  a £1 off £5 spend in the local supermarket so I will need to remember to spend that before 19/09. I also bought some squash for my friend's kids.

I spent over an hour on the phone as an easyjet voucher (from a cancelled flight which I accepted in lieu of cash) would not work. They would not give me a refund but they have given return flights free 23kg luggage for my next trip.
Lesson - always take cash not refunds.

Grocery spending Sept  is now £29.43/£170
Shopping – grocery £7.75 – all largely unnecessary but wanted something sweet so got pack of sweets ad a large bar of choc plus some reduced food

 

Free Money  £16.10

Sale  to my local whats app group £7

Tesco gift card  used for grocery £7.15

Plus 65p off tesco stuff as tesco club card prices

£1 off £5 voucher - need to use by 19/09

ebay items, tcb  to come  - I am not doing many surveys as trying to focus on work, gym, ebay, mb

MSE

Free large pack of crisps and won a large hand wash on a tombola.

I have listed more on ebay over the weekend  so 15 things up or scheduled. I have 2 bids already so should clear  I nearly £60 on those two. I dont want to drag clutter to my new place and the extra cash all going to house deposit so.

I also did some work on Sunday so this will be a new regular source of income, not huge but will all go after tax to savings so.

Sept goals

Savings £70,046.47 /100K   (main goal)

Sept savings   £1045.43  Goal  £2818 pm

Free Money Sept £130 target   16.10/£130

Grocery challenge    29.43/£170

NSD   2/10  (spent both days on the weekend)

Gym    2/22

Ebay   0/£100 – 15 items listed - two def sold

Minimalism Game   6/6 

Programme   1/7 tasks

Part a - I need to finish the 2nd edit,  1/1 YES DONE 01/09
Part b - j add links and pics and possible last time spell check 0/1  No movement on this

Part a - will then need a final spell check  0/1
Part c - creating and checking the extras that are coming with it 0/1
part D - I will do once a and b are done - recording the audio to go with it all 0/1
Part E is getting all the set up /webpages/adds up and on going 0/1
Part  F - marketing it 0/1

 

Sistergold

It’s good that you took the walk as safety should be a big consideration in buying. The last flat I rented was really lovely and in a nice neighbourhood but there was a park/river the way  to the train station/high street and school and I never felt safe when crossing it. The children also had to cross it to go to their primary school. I told myself never again. There has been a few times in the news where they just find dead bodies in greens/parks!
You are really doing your due diligence!  Xx

LadyWithAPlan

@Sistergold yes thats sounds creepy for you and the kids..
I have travelled the world safely on my own for decades and whilst of course there is a huge element of luck  - some people are just in the wrong place at the wrong time .. I am also aware to do my best to keep myself safe including never being too drunk and not walking through shadowed areas.
 I have luckily never had safety issues.. but I am always super aware of where I am and of course not to have headphones on etc so you are not aware of who is around you at all times and to not appear distracted. Training for spatial distance awareness should be mandatory.

On my due diligence I saw a lovely friend today. She has suggested I look in her area so zone 4.. I am eyeing up one place with a freehold and garden so trying to see it. Also I am seeing some more flats tomorrow...

 Grocery spending Sept  is now £34.13/£170
£7.15
Had a friend round after a lovely walk in the sun so had to grab some milk stuff for her and then I bought more sweets  and some crisps.. Clearly junk food is turning out to be my biggest expense so far!
Oh well the first step is acknowledging the problem ..

so not a NSD

Free Money     £16.60/£130

 50p from coop app

Sale  to my local whats app group £7

Tesco gift card  used for grocery £7.15

Plus 65p off tesco stuff as tesco club card prices

£1 off £5 voucher - need to use by 19/09

ebay items, tcb  to come  - I am not doing many surveys as trying to focus on work, gym, ebay, mb

Chiglepig

The safety thing is really important. Twenty years ago I moved from a large multi-cultural city, to a small mono-cultural one - I have never felt so unsafe! In my home city, I knew if I was walking around in the evening, the streets were populated, in my new city, at 6pm EVERYTHING closed and walking through the high street from my bus to home was an unsettling experience! An ex-sister-in-law many years ago proundly boasted she had only been mugged twice walking home in Hackney - both times a shortcut through a church yard

You are going to have to go cold turkey on those sweets you know

Suffolk_lass

I was wondering if you had a pot for entertainment, frivolity and treats? you could track how much your sweet tooth/boredom thing costs you in that, instead of groceries.