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  • FIRST POST
    • CosmoCat
    • By CosmoCat 8th Jul 19, 5:13 PM
    • 647Posts
    • 419Thanks
    CosmoCat
    The Little Cottage - A Musical
    • #1
    • 8th Jul 19, 5:13 PM
    The Little Cottage - A Musical 8th Jul 19 at 5:13 PM
    I've been reading these MFW diaries now for a little while and they are greatly inspiring and uplifting.

    About 3 weeks ago we decided to sell our flat. We have a terrible managing company who charge us thousands per year and don't look after our building. We decided to get out of leasehold hell and own our own little parcel of earth down here in London town. So we booked the agent, had the pictures taken, immediately had loads of viewings. We also started looking for our home. In about a week and on exactly the same day, we received asking price for our flat and had our offer accepted on a cute, little period cottage.
    We were very lucky.

    We had our mortgage approved the next week and have filled in every single form known to man. We've sent every single bit of evidence we could gather. And now the wait begins.

    So the numbers -
    Both my partner and I are self-employed, so incomes can vary wildly. We now have a mortgage of 273 499, with our current mortgage being redeemed through the sale of the flat, which also provides our down-payment for the cottage. We are fixed at 1.8% for five years, after which we will try to remortgage to get a better deal. Our term is 26 years. We are both debt free, so this is all we'll be concentrating on.

    I've never overpaid on my mortgage, as the numbers seemed so colossal, they were hard to fathom. And I couldn't see how overpaying by even a small amount could make a difference. So, now I'm looking forward to do it. Payments will vary but I'm aiming to do at least 300 a month. This means that I won't be paying off my mortgage in 3 years or even 10 but I'll be working hard to bring it all down. That's all there is really. Even this would bring my mortgage term down to 18 years. And that would be glorious.

    So here we go.
    MFW Newbie - #116.
    New Mortgage at Nov 19 - 273 499
    Want to cut down 26 year mortgage by 9 years!
    New MF date 2036
Page 2
    • CosmoCat
    • By CosmoCat 18th Jul 19, 12:11 AM
    • 647 Posts
    • 419 Thanks
    CosmoCat
    Hey Chumpy, thanks so much for stopping by.

    Again, not much to report. Still waiting, waiting, waiting. Working hard and still squirrelling away my pennies, although they're going out as quickly as I make them at the moment as the change in job means NSDs are a little impossible at the moment. But that's alright. At least I have some savings, I know what my tax bill is, and I'm ready to overpay that mortgage as soon as it arrives.

    Hope everyone had a great day today.
    MFW Newbie - #116.
    New Mortgage at Nov 19 - 273 499
    Want to cut down 26 year mortgage by 9 years!
    New MF date 2036
    • CosmoCat
    • By CosmoCat 22nd Jul 19, 8:23 AM
    • 647 Posts
    • 419 Thanks
    CosmoCat
    Morning all,
    Just a quick pop in, starting a new job this morning, very exciting.
    I did a weekly shop of about 16 and batch made some food for lunch and dinner this week. Hopefully I can stick to the meal plan and my only spend will be my travel. A friend made me a cake to say congrats on the end of my old job too, so I even have treats for my lunch. I feel very lucky.

    Anyway, still waiting on all the house stuff to start moving. Everything has gone eerily quiet. Will chase at the end of the week.

    Happy NSDs to everyone!
    MFW Newbie - #116.
    New Mortgage at Nov 19 - 273 499
    Want to cut down 26 year mortgage by 9 years!
    New MF date 2036
    • CosmoCat
    • By CosmoCat 23rd Jul 19, 8:26 AM
    • 647 Posts
    • 419 Thanks
    CosmoCat
    Morning all
    NSD yesterday, ate the food that I carried to work and wasn't tempted to buy treats or anything. Didn't really stick to my no sweets plan as there were lots of sweets and biccies around, so hopefully today I can do better.

    A little news yesterday, the Land Registry approved the expedition of my lease application, so at least that's moving forward. No news from either my buyer or my seller, so limbo continues.

    Hope everyone has a terrific day today.
    MFW Newbie - #116.
    New Mortgage at Nov 19 - 273 499
    Want to cut down 26 year mortgage by 9 years!
    New MF date 2036
    • savingholmes
    • By savingholmes 23rd Jul 19, 11:47 PM
    • 9,909 Posts
    • 20,071 Thanks
    savingholmes
    How was the new job?
    Target DFD Mar 21 Nov 20 38840 @ 13/7/19 26,547@0%
    Target MFD July 2031 March 28 owe 145551 @13/7/19 145,180 @1.7%
    • CosmoCat
    • By CosmoCat 24th Jul 19, 6:40 PM
    • 647 Posts
    • 419 Thanks
    CosmoCat
    Hey SH,
    The new job is going brilliantly, although the heat is going to melt us all. Thank you so much for asking. It's incredible fun.

    More news on the sale, they've sent the fittings and contents document and title plan, so I've had a gander and all looks good. This is the fifth time I've bought a property, it's always fun to see what they're taking and what they're leaving. The survey happens on Friday so we're waiting for that report.

    It's interesting how relaxed and patient I am about everything. All in good time, I say to myself. I hope the calm continues.

    Not a NSD for me today as I've had to go to the store and buy a fan! I'm getting some sleep tonight!
    MFW Newbie - #116.
    New Mortgage at Nov 19 - 273 499
    Want to cut down 26 year mortgage by 9 years!
    New MF date 2036
    • CosmoCat
    • By CosmoCat 29th Jul 19, 11:20 AM
    • 647 Posts
    • 419 Thanks
    CosmoCat
    Hello MFW peeps!

    Got word today that my new lease has been registered! Yay!! Thank you Land Registry for being absolute champions and helping me out with this.

    Hopefully this will make things move forward a bit now. But these things just take the time they take. And I've lots to be getting on with. So everything in its own time.

    Day off today, heading out to a food shop later on. Hope you're all having terrific days.
    MFW Newbie - #116.
    New Mortgage at Nov 19 - 273 499
    Want to cut down 26 year mortgage by 9 years!
    New MF date 2036
    • CosmoCat
    • By CosmoCat 4th Aug 19, 9:49 AM
    • 647 Posts
    • 419 Thanks
    CosmoCat
    Disaster!

    Our homebuyers report came back and our little cottage has bulging walls and weird repairs on the roof with no structural surveyors reports. Will cost at least 30 000 to fix. There also seems to be some boundary problems. Our little dream cottage is turning into a bit of a nightmare. I'm so sad about it, and honestly don't quite know what to do now.

    I have a phone call with the surveyor on Monday morning to see what they say. I may still buy the cottage if they give me a significant price reduction.

    I don't know.

    This is such a major blow to what has been a pretty stress free process to begin with. I should have known something was coming. It was all moving along so smoothly.

    I guess it's back to the hunt.
    MFW Newbie - #116.
    New Mortgage at Nov 19 - 273 499
    Want to cut down 26 year mortgage by 9 years!
    New MF date 2036
    • twinklie
    • By twinklie 4th Aug 19, 2:43 PM
    • 4,275 Posts
    • 11,204 Thanks
    twinklie
    Aww that’s awful, I’m so sorry. ��
    Daily mortgage interest Nov'19 - 15.77 Reduction in daily interest - 0.68
    % of house owned/% of mortgage paid off.
    Nov'19 - 14.2%/4.2%
    MFiT-T5 #13 MFW 2031/currently 2037
    New aim - to be debt free by the end of 2020. % remaining Nov'19- 62.2%
    • CosmoCat
    • By CosmoCat 16th Oct 19, 2:39 PM
    • 647 Posts
    • 419 Thanks
    CosmoCat
    Hellooooooo! *waves at everyone*

    Well, turns out it wasn't so bad after all. We had a chartered structural engineer go in and he says that everything was completely fine. Although all the negotiation and going back and forth and getting a mortgage reissued because of the reduction took months! But, we're meeting the solicitor on Friday to sign all the paperwork, and all things being equal, we should be in within the next month. I'd love to be there for Christmas!!

    I've been away for work and am now back, so I'll go and have a long read through of the diaries and check in with all of you.

    Hope everyone is good.
    MFW Newbie - #116.
    New Mortgage at Nov 19 - 273 499
    Want to cut down 26 year mortgage by 9 years!
    New MF date 2036
    • LeighofMar
    • By LeighofMar 16th Oct 19, 3:39 PM
    • 170 Posts
    • 420 Thanks
    LeighofMar
    So glad it wasn't a major issue. I hope you can move in soon.
    • CosmoCat
    • By CosmoCat 17th Oct 19, 12:10 PM
    • 647 Posts
    • 419 Thanks
    CosmoCat
    Thank you LeighofMar! Yep I'm super happy too.

    It's always good to check when you get a concerning survey. I hope we can move in soon too. The estate agents for the sellers seem to think mid November is the earliest we can get in. I'm super excited and want the time to pass quickly. Mid November will be super busy for me, but I think I'll be so excited, I wouldn't even care. It's been a long process this, but so glad the end is in sight.

    Anyway, hope everyone is having a super day.
    MFW Newbie - #116.
    New Mortgage at Nov 19 - 273 499
    Want to cut down 26 year mortgage by 9 years!
    New MF date 2036
    • CosmoCat
    • By CosmoCat 18th Oct 19, 3:18 PM
    • 647 Posts
    • 419 Thanks
    CosmoCat
    So close so close so close so close so close...

    Been to the solicitors, signed everything, tentative timescales given, he said we could have exchanged today, mortgage broker got worried about something, now we wait until early next week to exchange. No going back now, not that I want to. I just want to move forward.

    Conditional completion date put forward for Nov 1. Gosh that would be so wonderful. It's at the busiest time for me with my work, but it's now been going on for four months, so I'm chomping at the bit!

    So close, so close, so close, so close, so close!
    MFW Newbie - #116.
    New Mortgage at Nov 19 - 273 499
    Want to cut down 26 year mortgage by 9 years!
    New MF date 2036
    • LeighofMar
    • By LeighofMar 18th Oct 19, 8:06 PM
    • 170 Posts
    • 420 Thanks
    LeighofMar
    Oh my goodness, you're almost there!!!
    • CosmoCat
    • By CosmoCat 19th Oct 19, 8:08 AM
    • 647 Posts
    • 419 Thanks
    CosmoCat
    Almost there, yes! Keep fingers crossed for me.

    We've started packing. We're slowly putting non-essential items in boxes, realising how much stuff we have and decluttering. We've decided to sell certain bits of furniture that were temporary (10 years temporary) and won't fit the style of the cottage. We've set aside a few grand for new furniture, so it will be fun redecorating, but we won't go too overboard. We're really frugal by nature.

    It's just me and OH and one little black cat, so it's pretty easy. Taking all this time to pack can be really nostalgic too, but I must try not to get too caught up in things, otherwise the time will run away with me! lol

    It's all so exciting.
    MFW Newbie - #116.
    New Mortgage at Nov 19 - 273 499
    Want to cut down 26 year mortgage by 9 years!
    New MF date 2036
    • CosmoCat
    • By CosmoCat 20th Oct 19, 10:23 AM
    • 647 Posts
    • 419 Thanks
    CosmoCat
    I've heard tell of a spreadsheet that's been helpfully created by someone here, to track overpayments. I've been searching and searching but can't seem to find it. If anyone happens to pass through here and know where I can find it, could you point me in the right direction?

    Thank you kindly!
    MFW Newbie - #116.
    New Mortgage at Nov 19 - 273 499
    Want to cut down 26 year mortgage by 9 years!
    New MF date 2036
    • VelvetFreak
    • By VelvetFreak 20th Oct 19, 11:48 AM
    • 301 Posts
    • 1,088 Thanks
    VelvetFreak
    That's great news, Cosmo. Happy packing

    Emergency Fund: DONE! $10,000
    House Savings $7,017.35 / $80,000
    • CosmoCat
    • By CosmoCat 22nd Oct 19, 8:10 AM
    • 647 Posts
    • 419 Thanks
    CosmoCat
    Thanks VF!

    Seems there's going to be a delay. The folks up the chain have only now decided to pull their finger out, but it means that all of us down the chain have to wait until they do what they have to do. Hopefully it will only be a week (or 2!!!), but it's still super annoying.

    Can't do anything about it, just have to wait I guess.

    Meanwhile, I have no furniture
    MFW Newbie - #116.
    New Mortgage at Nov 19 - 273 499
    Want to cut down 26 year mortgage by 9 years!
    New MF date 2036
    • twinklie
    • By twinklie 22nd Oct 19, 9:44 AM
    • 4,275 Posts
    • 11,204 Thanks
    twinklie
    We were in this situation 12 months ago. It was soo frustrating I hated it. It will be over soon and just a distant memory.
    Daily mortgage interest Nov'19 - 15.77 Reduction in daily interest - 0.68
    % of house owned/% of mortgage paid off.
    Nov'19 - 14.2%/4.2%
    MFiT-T5 #13 MFW 2031/currently 2037
    New aim - to be debt free by the end of 2020. % remaining Nov'19- 62.2%
    • LeighofMar
    • By LeighofMar 22nd Oct 19, 7:54 PM
    • 170 Posts
    • 420 Thanks
    LeighofMar
    Every time I think I have one more move in me and want to sell everything and start over somewhere new, I read about people's experiences with buying houses, delayed closings, and packing/moving and realize I'm fine where we are and we can just travel to see new places

    I hope the delay is not long so you can get in there. Do you already have a special bottle of wine or a dessert in mind to celebrate once you move in?
    • CosmoCat
    • By CosmoCat 23rd Oct 19, 8:13 AM
    • 647 Posts
    • 419 Thanks
    CosmoCat
    Thanks Twinkle, after a while it just starts to get funny I guess. But we may, just may, have a date now.

    Haha, I hear ya, LeighofMar, we're very silly adventurers who really should have some sense talked into us. But it is just the two of us, that makes it a little easier.

    What's been making me laugh is that constant to-ing and fro-ing. The seller's agent says to me 'Hurry up hurry up hurry up', I say 'Okay, yep, we're ready, here's the date', then they say, 'No no no, it must be delayed by a long time', I throw my hands up and say 'Fine, whatever, whatever they want', then I go to work and get a million phone calls from the agent saying 'Hurry up hurry up hurry up, they must get this done ASAP! Why aren't you answering your phone????'

    I mean... really???
    MFW Newbie - #116.
    New Mortgage at Nov 19 - 273 499
    Want to cut down 26 year mortgage by 9 years!
    New MF date 2036
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