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Pay off mortgage and start having even more fun 😁
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It sounds like you are doing all the right things NG.
I imagine the stress of the DH job/factory thing is not helping and if you don't have a lot to lose that's really hard too.2 -
I shall keep going with it Al 😊
Well the verdict is in and they are relocating, there was an email addressed to all this morning, no meetings no terms offered or anything except a brief causal conversation about what they might do. They keep chasing dh up asking if he’s moving or not, ridiculous when no info has been put forward. My best work buddy is gutted, he’s been there over forty years and didn’t even get a meeting to discuss it when they know he can’t possibly commute that far 😡 No idea of when they are giving notice on the lease, soon I would imagine, I have doubts over whether the rent will been reliable for those last months either way now….It’s a bit tricky setting a budget for the next two years which is what I was working on before all this 🙄 I think the best thing I can do is perhaps make a plan as if we will be carrying on as usual for the next six months, we have a cushion in the offset of 20k but if we use it we will have to extend the mortgage end date 😂 I can’t believe it’s happened literally a couple of months before we mortgage free! Still it’s a much better position to be in than having a big mortgage.Dh is quite upset, but that’s been slightly overtaken by anger now at how they handled it all.
On a lighter note ds2 took me to the cinema tonight to see a “secret screaming” film which was quite watchable, I think dh liked the space to watch tv and unwind without me grilling him 😆MFW 67 - Finally mortgage free! 💙😁9 -
Bleurgh. Well at least you know now (except you don't know, because they've been so vague about it 🤷♀️). They really need to confirm some details, or how is anyone meant to know what they're going to do (and that's just the employees, let alone yourselves as the owners of the premises). What does the lease say in terms of giving notice? Haven't they recently extended it? It's definitely time for some legal advice (again, both as employees and lessors). I still think they're shooting themselves in the foot if they have any intention of keeping the business going, as they won't be able to find new staff that are able to do the work.
Sorry, I know none of this is very helpful, just me thinking out loud. I hope you're able to find a way to navigate through it xMortgage start: £65,495 (March 2016)
Cleared 🧚♀️🧚♀️🧚♀️!!! In 5 years, 1 month and 29 days
Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed
Finally earning interest instead of paying it!!!5 -
Thanks sc, the lease has a a couple of years but a two way 6 month get out clause which is what they will use. Their many companies are all separate so the concern is just folding it which would be easy to avoid responsibilities, luckily my dads business in managing industrial estates so we have good advice on that at least.They will let a big chunk of the work go is my guess and focus on the lower end side of it which doesn’t require such skill, plus two of the four are definitely going.MFW 67 - Finally mortgage free! 💙😁6
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So sorry to hear this sounds like a way to avoid expensive redundancies. Hard to say right now and super stressful but it might work out for the better having them out of your lives and another more stable tenant renting the units or could you sell them?
Good luck what ever you decide. I am with you on the diet it is so hard I only managed to start losing weight when my partners started being good with food choices and we simply do not have anything naughty to eat in the house.Save £12k in 25 No 49
PB Win 21 £225, 22 £275, 23 £900, 24 £750 Balance Dec 25 £32.7K
Plan to move to Denmark for FIRE by Autumn 2025 “May your decisions reflect your hopes not your fears”
New diary aiming for fire https://forums.moneysavingexpert.com/discussion/6414795/mortgage-free-now-aiming-for-fire#latest5 -
Better to have the info than not I suppose.
Even if it makes you furious 💙4 -
Sorry to hear this NG. Best wishes to you, DH and all the employees xMortgage Balance as of July 2025 £14,900.
Starting Mortgage Balance (June 2019) £72,000.
Aiming to be mortgage free by my 40th birthday, June 2026!5 -
If the staff need any legal employment advice ACAS are a great free service, who will help if the staff are not being treated correctly. They are probably hoping staff hand in their notice so they don't have to pay out.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!6 -
Also check out gov.uk re relocation:
I am the master of my fate; I am the captain of my soulRepaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NILNet sales 2024: £207 -
Thank you everybody 🙂 their contract states they must have to be available to relocate anywhere in the uk which could be deemed as unreasonable, ds1 works in HR and seems to think so too. Nothing further has been said this week, dh is waiting for them to come to him with information , who knows of they will, they haven’t given notice on the factory yet so I’m pleased as ideally I’d like to get to July with the rent coming in so we can pay for this years trips 😆.
It’s finally payday, boring payday where I do the money shuffle and there’s zero left over, not exciting payday where I get my personal allowance 😩 this month has been terrible, I’ve overspent on food, I believe we have come in at more like £500 this month so they extra has come from my personal spending money which is now very sparse. I knew we would be limping to the end of this mortgage but we really will be.Back later to do the financial update…..MFW 67 - Finally mortgage free! 💙😁9
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