MF by Christmas 2024 - let's do this!

beanielou

All good then 

Coxy11

Regular mortgage payment has gone out today so new scores on the doors: £262,656.73.

In other news....DH was told early doors today that his job is at risk, and he could be let go on 28 Feb. We are still numb from the news. This will be the 3rd time in 8 years and we are in a better position than before, having built up some savings, but still gutting.

DH has a call with HR tomorrow to go through the details. We may have to suspend overpayments in the short term.

Suffolk_lass

That a tough one @Coxy11. I will keep my fingers crossed for your DH. We used to get early contract severance regularly when DH was freelance. It's the uncertainty!

Coxy11

Payday for me today – one day early due to it falling on a weekend. DH has had the shortest of consultations which comprised being put at risk on the Monday and told the following day he would be let go 14 days later. The whole process has been very crassly managed and he is considering raising a grievance before 10am on Monday. Why is everything such a battle.

In money news, our Halifax Regular Saver matures on 5 March. We had earmarked this to pay a chunk off the mortgage but given DH will get capped statutory redundancy plus 12 weeks’ money, we are going to hang onto that for a while longer. We are also not going to make the overpayment of £1k this month. Need to be sensible and keep some funds by.

I have successfully not spent any money on fripperies these past weeks. All breakfasts and lunches have been brought in from home. I avoided meeting a friend for coffee as tbh he’s a bit draining and it’s really the last thing I need right now, plus it was my turn to pay. We’ve arrange to meet on Tuesday next week instead so will gird my loins.

Unfortunately the iPad/navigation system in our car went kaput so that has cost £775 to fix – we were originally quoted between £1400-£1800 for a new one, so feel we got a bargain! Needed this fixing as there’s currently a large hole in the dashboard.

In flat sale news, our solicitor asked if we were okay for him to get the management company to complete a management pack at a cost of £375+VAT. I queried if this was extra to his fees and was told Yes. Given that the vast majority of leasehold properties have a management company and therefore would need to supply this info in the case of a property changing hands, I’d have thought he’d have highlighted that in his quote as a possible extra. The fees don’t now seem as much of a bargain!

Coxy11

Management company are busy completing the LPE1 form and management pack. Our solicitor is waiting for buyers solicitor to send enquiries plus agree draft contract info. Buyer says she's hoping for completion at end of March so we shall see.

DH is still employed....just. The process has been flawed, so he's raised a grievance and it's now with the Chief People Person to respond on Monday. In the meantime he's updated his CV and has commenced looking for something else. 

Both regular savers have been added to - £200 x 2 and the Christmas/Car pot has been topped up. No mortgage overpayment this month. Now waiting for 5 March for the Halifax Regular Saver to mature and can pop that away.

Coxy11

Our Halifax regular saver matured on 5 March – total saved £3000 with interest added of £73.79. I transferred this to our savings account rather than pay off the mortgage as previously planned.

DH is still employed and is negotiating terms following a grievance – hoping it’ll be sorted by cop Monday.

We have £14k in ready access savings. £4k of this is ear marked for DS1s wedding, we have £775 to pay off the CC for the car iPad repair. The remainder (plus whatever DH gets in severance) will be drawn down to live on until DH finds another role. We have modelled our finances to the end of 2024 and will be fine, but obviously DH hopes to get something before then!

The management company who look after our BTL have completed the paperwork for our solicitor so we wait to hear what’s next. According to our case portal, we are 45% towards completion of the sale.

Food budget is on track for this month and hopefully will come in £50ish under. I have bought lunch (meal deal) a couple of times but otherwise have taken breakfast and lunch from home every day and have shopped to a meal plan for evening meals. We have had no food waste apart from ¼ of a cucumber that went squishy and a single onion that sprouted.

Still have £150 in the fuel pot for the car. Will be using the car this weekend to visit Mum, and DH needs to take the car to his folks next week, so £50 will be put in today – hoping to not use the entire amount.

beanielou

Positive energy for things to conclude Coxy. 

Coxy11

Monthly mortgage payment went out on 10 March so new mortgage balance is £261.318.46.

We have signed contracts for the BTL property sale and had our neighbour witness them. I scanned them back to our solicitor on Wednesday and sent first class post. We have suggested a possible completion date of 27 March which he thinks is doable, so we will press on this next week. There will be a £250 retention for the management accounts to be finalised but hoping we will clear £222k after legal fees (there was an additional £100+VAT for our solicitor to draw up this agreement).

In other news, the car fuel budget still has £100 in it and apart from a trip to the outlaws tomorrow we won't be using the car this coming week. Food budget has £35 left in it. I've just food shopped for the week but need to get some risotto rice and celeriac tomorrow morning as neither available in Aldi today. All food and fuel is bought using a cashback credit card and cleared every month. The statement date is 21st monthly, so only a few days to go. Feel like I'm just waiting for payday each month, but then I guess that's the same for a lot of people these days.

One cinema trip this week using our monthly pass - Dune II - very good but boy was it looooong. 

DH's grievance was thrown out by Chief People Person so he has a final meeting with HR on Tuesday to conclude matters. We will be fine financially but I do worry for his mental state. I just need to keep him motivated and busy, but it's difficult when I'm out of the house 5 days a week.

beanielou

Sorry to read grievance was thrown out. 

What a terrible way to treat people. 

Hope it won’t affect your DH’s MH too much. Xx

Coxy11

It’s payday. This would normally mean a mortgage overpayment but obviously we are keeping our cash close until DH gets another role. He had a final (final) consultation on Tuesday which was also his last day. This has resulted in a couple of extra weeks’ pay which is no bad thing given the compensation package was capped and amounted to just 6 days’ pay for him.

Apparently DH is also to receive 17 days’ of annual leave when he only expected 5, so again, we will get more than we envisaged when the compensation/PILON is paid on 27 March.

We currently pay into a buy as you earn scheme and a share save scheme. Both will be stopped at the end of March and I think we get the cash back, but DH is waiting for confirmation from the scheme organisers.

Flat sale is progressing. We had hoped for completion by month end but our buyers’ solicitor has sent further enquiries today so it’s looks doubtful. Can you believe our buyer has been made redundant but is still forging ahead with the purchase. Another case of the timing being uncanny – firstly with us deciding to sell before DH was put at risk (therefore avoiding a panic sale) and secondly with the tenant already having his mortgage offer before being let go.

Food budget was £20 under for the month, helped by meal planning, buying to a strict list and taking breakfast/lunch to work each day. DH has whatever is left over from the previous night, or a toastie/omelette. We have been to the cinema twice, so good use of the monthly unlimited ticket. Fuel was £50 under for the month. My guilty pleasure is buying books (mainly from CSs) and I currently have 23 unread on my nightstand. Must not buy any more as these will see me through a good few months to come.