Just a mother and her mortgage

kimplus8

This is my Diary, been a lurker on this board for a while now. Saving to buy a home in 2025. Should have a £25000 deposit by then if I stay on track with my savings and investments. Saving every penny to get that deposit together and also have fees and an emergency fund. 

LISA currently stands at £5400. 

kimplus8

No spend January is underway, on day 16 and this far not spent any unplanned money/ impulse buys. Yesterday I wanted a costa coffee at the supermarket and I almost bought one, instead I thought ‘if I feel I can afford a coffee then I can instead afford to pay that money into my LISA, so that’s what I did :-) 

ACG

Best of luck. 

dimbo61

Your on the right website to start your journey.
The 25% £1,000 Lisa bonus is a good way to save for your first home

kimplus8

I spent £5 in the corner shop today on a Bottle of cola, milk and some snacks to watch a movie with my partner tonight so technically not a no spend day. 

I have made an appointment with a mortgage advisor to have a realistic look at what I can afford and how much deposit I will need, check over my bank accounts and credit file and plan my mortgage savings to give me more focus. 

ACG

I think that is a waste of time personally. 
You are 2 years away. Rates will change, your income may change, life has a funny way of getting in the way. 

Just have a play around on a few affordability calculators. Save what you can and then pick it up in around 18 months. 

kimplus8

ACG said:

I think that is a waste of time personally. 
You are 2 years away. Rates will change, your income may change, life has a funny way of getting in the way. 

Just have a play around on a few affordability calculators. Save what you can and then pick it up in around 18 months. 

Okay thanks, I don’t know what I’m doing tbh, he just happens to be the guy my friend used so she recommended I have a we meeting to see where I need to be at. I’ll have a look at the calculator on here. Do you know what they take into account when assessing affordability. Especially with kids. Do they they take into account an amount per child or just specific commitments such as nursery or school fees? 

TheJP

I love your energy. I hope you get what you deserve. 

MovingForwards

@kimplus8 there's a 'how much have you saved' section near the bottom of the forum where several of us run diaries for saving towards a property, general savings or saving to upgrade our homes. 

Even the mortgage free wanna be section would offer a lot of support along your journey to saving and then buying.

kimplus8

MovingForwards said:

@kimplus8 there's a 'how much have you saved' section near the bottom of the forum where several of us run diaries for saving towards a property, general savings or saving to upgrade our homes. 

Even the mortgage free wanna be section would offer a lot of support along your journey to saving and then buying.

This is brilliant, Thankyou 

kimplus8

A hard weekend stuck inside has been horrendous. I was tempted so many times to buy a film on the TV to entertain the kids. I have a bad back so have spent most of the day lounging on the sofa with the kids. 

I did be really silly and break my no spend month and get a takeaway on Friday night. I instantly regretted spending that money. I feel so exhausted, I’m lacking the motivation to do anything right now so I’m going to get an early night and hope I can have a clearer head tomorrow. 

Other than Fridays slip up I’m still no spend so not doing too badly.