Ding! Ding! All change, please... (now replaced with new diary on MFW)

theoldmansmrs

That is great news - congratulations!

starnac

That's great news. Congratulations!

RosaBernicia

Yay, congratulations! 

EssexHebridean

Thank you so much everyone - honestly, it's beyond fab knowing there are people out there in MSE world being so supportive and lovely! 

Baileys_Babe said:

EssexHebridean said:

We need to make a decision on where we are applying for a mortgage - we've settled on an initial 3 year fix for certainty, and know how much we need to borrow - but are currently veering between a 16, 17 or 18 year term. There are advantages to several possible lenders, N@ti0nwide have a very favourable overpayments policy (with the OP's being limited by the amount of the original loan, not the outstanding balance), but a higher rate, and it's likely that we won't manage to make full use of that inside those first three years anyway, so we're currently veering towards not going with them. Frankly I'm starting to feel a bit overwhelmed by the whole thing, and naturally it's fallen at a time when we're both having quite busy/stressy times at work, and the voluntary role stuff has reached a bit of a peak too!  Oh well, it will all be worth it! 

Congratulations 🥳 

I like N@tionwide's overpayment policy. As the N@tionwide are charging a higher rate would it be worth getting a mortgage with a different provider for the first 3 years and then reviewing providers again then? That is unless you feel you will be able to overpay 10% of the original loan per year relatively soon.

That is exactly what we are considering doing - as at the moment that rate is quite a chunk higher than we could secure elsewhere, and realistically we *might* just get to the 10% level by year 3 (we're unlikely to in years 1 & 2), but if we do it's not a hardship to just keep the money sitting in savings earning some interest then hit the thing with a lump as soon as the fix ends. 

savingholmes said:

Great news on the offer. I'd be interested to know how much you under-bid by. I never know what to offer on a house - and as you know I'm about to follow your path... 

We went under by £15k in the first instance - we knew we really wanted the place, and pitched the offer in the hope that they might just consider it straight off. they came  back and said could we split the difference at £7.5k under, and we agreed right away. It's incredibly tricky to know what to do when a house needs so little done to it though - and this really doesn't need much at all! The agent had tipped up off that they were open to accepting sensible offers though, so it was a case of pitching it at a level that didn't look like we were trying to take the mickey! I should probably say that it was also originally listed 15k higher and had seen a price drop before we viewed. 

Thanks for the suggestions on brokers too - I think we've decided just to go direct to our chosen lender as there don't appear to be too many better broker-only options and we're pretty straightforward as we're not borrowing even close to where we could do theoretically (think below 40% LTV!) Should we hit any issues though it's definitely something I'd be open to. 

Trying to start thinking about all the stuff that will need doing now - I can see a lot of lists in my future - but also to keep feet on the ground with all the other stuff we currently need to think about too. I've just done ID stuff with Mr Boss this morning as he'll be acting for us on the legals. Jobs for the weekend will include getting the money transferred over ready to get the leasehold pack ordered for ours, and making a solid decision on that mortgage. Oh, and packing stuff for holiday too - that might be a plan! Excitingly Mr Boss has just told me that the memorandum of sale has come from the agents on our purchase and he's made contact with the other side already. 

Banks checked this morning - all good. MrEH will probably have to top his Oyster up tomorrow if not this afternoon on the way back - we're in separate cars today too as I have a Dr's appointment later on. Plenty of fuel in my car though so that's almost no-cost in real terms. I'm not using my bike this week as I'm trying to get this niggly back issue sorted ahead of going away - I know exactly where the issue is and had a suspicion that cycling just might be making it worse - and a bit of research confirmed that so I'll probably keep off the bike now until we're back. Annoyingly that same (reliable websites only!) research also confirmed that the strength training I usually do might also contribute to the issue so I need to consider whether I have to bin the gym completely until we're back too. Might have a think about bodyweight stuff I can do at home - plus I'll incorporate lots of stretching too. If it's still niggly once we're back then I'll have to investigate a physio I think. 

Planned spendiness: I think we're going to head to Cambridge Beer Festival on Friday evening - feels like a bit of social beer drinking with pals could be just the thing, and the train tickets aren't too horrendous...not been to a festival up there in years a all to often we're away at the time it's on so it would be nice to take the chance to get there. Spending at the festival will come from personal spends, and the train tickets from joint fun, probably. 

Food is all running wonderfully under control. I switched out last night's planned couscous for pasta instead as we had a splash of cream left - so spaghetti with a sauce made from previously cooked finely chopped shallot (from the freezer) the last half a courgette, one of the remaining red peppers, some bacon (remainder of the pack now frozen) and chorizo (ditto) and some frozen mushrooms, with part of a tub of soft cheese and the cream. Very tasty indeed - both bowls were scraped clean! for tonight I have the thai fish stew base I made double quantity of a couple of weeks ago and froze half - I've got out a white fish fillet, a smoked fish fillet and a third of a pack of mixed seafood to have with that so that will be a super quick meal for this evening. Need to check the list to see what is planned for tomorrow... 

foxgloves

Exciting times, @EH. And I must say, everything is sounding very much under control as usual! Enjoy your Cambridge beer. I think our local beer festival is also on this weekend, but we are not planning to go this year. Have enjoyed it in the past though.
Re house buying. I think your experience shows that it is worth going in at a lower offer. It has paid off for you, in that the sellers were willing to split the difference. That's a saving of £2.5k on, say, you deciding to try offering them just £5k less as you really like the place. Best of luck with it all, anyway. Yes, lists. They are the way forward! Even, I think beginning with a list of lists!
F

rtandon27

Wow EH - that was quite some update!

Love the sound of your use it up pasta & pre-prepped thai fish curry!

savingholmes

Thanks for sharing your bargaining.

Hope your back improves quickly 

Sun_Addict

Brilliant to have Mr Boss handling the legals. At least you know he’ll be on the case and not drag his heels. When we bought the house we’re in now I was working in an estate agents who handled the sale of our old house. Also used the associated solicitor and mortgage broker. Came in very handy at the time. 

Moorviews

I’ve had my fingers crossed quietly in the background about your house sale and purchase. I’m so pleased for you that you have secured your dream home and also have a buyer! Your meals always sound very quick to make and tasty. I have the exact combination of bits and pieces in the fridge to reproduce the spaghetti dish, so that’s tonight’s tea sorted, thank you 😊 

jwil

Huge congratulations from me too!  How exciting.  Great that your boss is doing the legals, that should help keep everything on track.  Fingers crossed for a smooth purchase.