An in-between phase

PennysIntoPounds

Well the kitchen closed earlier than advertised so we finished our very nice bottle of wine and got take-away pizza from across the road, which tbh I reckon was a Super Tuesday win 😂 

Weds doings:

Yougov survey
Admin
Comping
Tidying

Got an email saying my credit rating has gone down to 'fair' which I'm not happy about as I really need a good rating for whenever we're allowed to start building and get a mortgage.
Need to look into this but dreading it and can already feel it turning into a big frog

No response from the MSE mortgage forum section so going to post my post under this in case any of my lovely MSErs have any idea

Small bit of work

20 minute walk getting necessaries from Aldi

£2.50 survey

More small work

Half wussy situps

Checked some previously rejected books on Mr PIP's ziffit and had a couple of quids worth accepted

Weekly coop receipt survey

Transferred £311 from savings account to holding account

20 minute walk with Mr PIP for a couple of post work beers (with Camra discount)

Dinner is pasta and mum's cook-once-eat-thrice ratatouille. Mr PIP is braving the meat mousakka in the name of preventing food and money waste but I'm cooking double pasta in case he's dubious. If not, pasta can go in freezer for an easy quick meal 

PennysIntoPounds

Hi all, my partner and I will be needing to get a build mortgage for building a property, which we hope will start in the next few months but given the council's slowness, we don't actually know when

It will be our only property and mortgage.

We have planning permission but don't know how long it will take for council to sign off on the necessary consents we need before we can put the tender out for building

My partner, who has the income our mortgage will be based on (I'm self employed with a very low income due to chronic pain condition) is currently renting from a private owner at market rates.

We have been offered mates rates to rent at family friends flat, if their buying a place goes through- should be in a couple of months

Is it better for us to apply for the building mortgage while my partner is still paying much higher rent as it would show he can meet that level of outgoing money?

Or is it better to apply if we're paying lower rent as it would show there's more disposable income to pay the mortgage and any associated building costs?

Plus...

Is it important to apply only when we get the go-ahead from the council that we can start work? Will it make anything more difficult if we get a mortgage offer but don't use it in a designated timeframe and have to reapply?

Or is it more desirable to get a mortgage offer in place now with him paying higher rent and hope that the council pull their finger out in the next month or two so the mortgage offer still stands?

Apologies for long post, any insight appreciated!

Sun_Addict

I hope someone comes up with a response 🤞

beanielou

The only thing I know is that MIP’s only last a certain amount of time & then need to be renewed. 

EssexHebridean

I have a feeling it's 6 months for a MIP but no idea if that might be any different when it's a self-build mortgage rather than a "normal" one. 

Glad that Super Tuesday was indeed pretty Super - who'd have thunk that a random Unicorn-Dressed-woman would be quite such a gifted seer - I hope you come across her again and she has similar news about a forthcoming "Wow Wednesday" or perhaps a "Splendid Saturday"?! 

I'll head over to the other board and give your post a bump if it's still got no responses. 

PennysIntoPounds

Thank you 'Elpful EH 😁

foxgloves

Wow to the Unicorn prediction! ! I once had a freaky encounter with a giant chicken but have never met anything as exotic as a unicorn!
Mortgage stuff sounding so exciting, & the moving in with Mr PiP to your friends' property. @PiP, I am hoping this is it, your time for an upturn is hoving into view!
Do treat yourself to a bag of mini(scule)eggs to seal the uptick in fortunes (though give the bag a good feel & check price v grammage....I think the shrinkflation fairy may have paid a visit)
F x

peb

Self build mortgages are different.  I've only dealt with a couple.   Id suggest asking your questions of a whole of market advisor?   

PennysIntoPounds

I'm going to need more details about the freaky encounter with a giant chicken @foxgloves
The mortgage pondering is only me seeing if anyone shouts 'definitely don't do that' but as no-one seems to have any strong views we'll just continue hoping that it's in our lifetime that the council ever permit us to make a start! 
We'll just have to wait and see about our family friends flat but if you advise that even a shrinkflation scoff of mini(scule) eggs would likely better our financial lot then I will make that a business priority 

Thanks @peb, I'm reluctant to start asking (and paying) official advisory people at this stage as we don't know if the council will take two months or two years or two reincarnation cycles to get back to us, and all the advice might be out of date by then! As long as no-one here is saying 'that is a blatant huge no-no' then that's cool. Thanks for chipping in, how are things with you?

PennysIntoPounds

MSE things today:

Small bit of work
Admin
Comping

Rejected from couple of surveys but did a long Yougov survey

Entered Omaze via postal entry like an organised mse lady

Tidying
Laundry
Bit of oven clean
Moth spray after spotting the first one of the season the other day (sorry moths)

Just Eat replied and were trying it with a £10 offer, I said absolutely not and they eventually relented and offered me the cost of my single dish as 'the best they could do'.
I gave in and accepted that so I don't have to have anything more to do with this awful company. Such a palaver over their own issue and such determination not to make things right

20 minute walk taking a couple of in-store pics for the coop comp, then went for beer as I had cash in my purse so it's not coming out of the current account budget. Had a nice chat with a couple I vaguely know from the area

Entered some competitions, today I'm mostly looking forward to winning 1k for the flat pot but my real heart's desire is the Molton Brown spring collection and a hoodie & trackies

Dinner is leftover takeaway pizza from our date night. More evidence of the renowned motto 'order once, because you went for a posh night out but the local posh establishment is frankly a shambles so you end up getting pizza in the cold and dark instead, eat twice'