New fresh diary for 2023!

EssexHebridean

One thing to be aware of - if you do end up with the house in your name only, then if you and OH aren't married you absolutely MUST make a will making clear what happens to the house if anything happens to you. 

BlueJ94

EssexHebridean said:

One thing to be aware of - if you do end up with the house in your name only, then if you and OH aren't married you absolutely MUST make a will making clear what happens to the house if anything happens to you. 

Yes I was going to sit down when we eventually get looking on mortgages etc and sort a will at the same time 

BlueJ94

Morning all,

It snowed here last night and my street was super icy!! Ive been on prolific in between customers and I've been doing the little 2 minute surveys! I'm nearly at £5 already 

foxgloves

I'm sure someone has already mentioned this @BlueJ94, but remember that any outstanding debt you have (I know you have massively reduced this & may be debt-free by now for all I know) will generally be deducted from the amount a bank or building society will lend you. That happened to us when we bought this place. The previous house belonged to me, so we went to get a joint mortgage, which meant we had more chance of borrowing more as were moving to a dearer area. At the time, we both had various bits of debt, but the one they picked up on was one of Mr F's, which was £16k. Now he was every bit as bad with money as me back then, but tbf, this particular debt came about when his previous relationship broke up not all that long after he & his partner had bought a house. It sold at a loss, which he took on the chin because it was an unhappy relationship, he'd met me, & he just wanted to get out. I said I'd pay that £16k off out of the profits of selling my house so we could have a fresh start but of course the mortgage advisor didn't see it like that at all. She'd only got my word for it, so £16k plus I think the total of our 2 car loans if I remember rightly, was deducted from the total amount we could borrow. It wasn't a problem as we never intended to take on a mortgage of that size anyway. 
Probably doesn't apply to you any longer, but just flagging our experience to show that they do take affordability into account.
You are doing well with Pr*lific this morning.....I haven't had a single one! Oooh, I tell a lie, one has just popped up on my other tab!
Good luck with that deposit. If it doesn't come off with this house, you'll have it ready for next time.
F x

missymoo81

Hey Blue! Yay lovely new diary! Exciting times for you! Very much looking forward to your updates re the house and possible mortgages etc. how’s the puppy?

BlueJ94

missymoo81 said:

Hey Blue! Yay lovely new diary! Exciting times for you! Very much looking forward to your updates re the house and possible mortgages etc. how’s the puppy?

Hey! Thanks, me too I can't wait. He's craaaazy!!

BlueJ94

foxgloves said:

I'm sure someone has already mentioned this @BlueJ94, but remember that any outstanding debt you have (I know you have massively reduced this & may be debt-free by now for all I know) will generally be deducted from the amount a bank or building society will lend you. That happened to us when we bought this place. The previous house belonged to me, so we went to get a joint mortgage, which meant we had more chance of borrowing more as were moving to a dearer area. At the time, we both had various bits of debt, but the one they picked up on was one of Mr F's, which was £16k. Now he was every bit as bad with money as me back then, but tbf, this particular debt came about when his previous relationship broke up not all that long after he & his partner had bought a house. It sold at a loss, which he took on the chin because it was an unhappy relationship, he'd met me, & he just wanted to get out. I said I'd pay that £16k off out of the profits of selling my house so we could have a fresh start but of course the mortgage advisor didn't see it like that at all. She'd only got my word for it, so £16k plus I think the total of our 2 car loans if I remember rightly, was deducted from the total amount we could borrow. It wasn't a problem as we never intended to take on a mortgage of that size anyway. 
Probably doesn't apply to you any longer, but just flagging our experience to show that they do take affordability into account.
You are doing well with Pr*lific this morning.....I haven't had a single one! Oooh, I tell a lie, one has just popped up on my other tab!
Good luck with that deposit. If it doesn't come off with this house, you'll have it ready for next time.
F x

Thanks @foxgloves you're very informative and always helpful! OH is even thinking about getting another PT job!!

BlueJ94

So, I got the £200 in my savings but I also have a Credit card with a balance of £200 that I forgot about, do you guys think I should just pay the CC off or keep paying it monthly but in bigger chunks?

LittleMissDetermined

I would definitely clear the card. 
LMD x

BlueJ94

LittleMissDetermined said:

I would definitely clear the card. 
LMD x

I was also thinking this, BUT keeping it open so they know at least I dont have the temptation to use it!