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  • FIRST POST
    • sarahevie1
    • By sarahevie1 10th Apr 15, 12:36 AM
    • 506Posts
    • 2,660Thanks
    sarahevie1
    sarahevie's single quest to mortgage freedom
    • #1
    • 10th Apr 15, 12:36 AM
    sarahevie's single quest to mortgage freedom 10th Apr 15 at 12:36 AM
    I had a diary a while ago but I let it slip, my circumstances have changed massively in the last six months, so I am back aiming for one thing mortgage freedom.

    So about me, single mummy of three beautiful girls. Full time primary school teacher, I also have a Saturday job at a well known supermarket.

    About six months ago oh walked out on me after 12 years, I found myself 30, single and struggling. A few weeks later he was back, and we see each other most days, although he rents a flat in a nearby town. I've had to use literally all my savings to get the joint mortgage into my sole name, 20,000.

    My mum and dad paid oh his equity share of the house 10,000, will have to pay this back. Oh is now in the process of buying his own house, he's asked me to move into it with him, as he never felt like my house was his, although it was in joint names, I'm undecided about moving into ohs new house. All I know for certain is my house is my responsibility and the 58000 mortgage has to go.
Page 31
    • sarahevie1
    • By sarahevie1 26th Jan 18, 3:03 PM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    Spent an hour on the phone to Hmrc about tax bill. I 'thought' i had been paying tax for my rental through my PAYE code for 2016/17. It appears that the money collected this year has been for tax year 2017/18. Therefore i now have 5 days to pay the tax owing for 16/17.

    On the plus side it looks like i wont have a self assessment to pay jan 19 for 17/18 as its been collected through PAYE. When they get final figures from my employment after APRIL 3rd i *may* be due a refund.

    It never rains but it pours!
    Mortgage 1 - 29000 Value 283000 (Mortgage val survey Sept 15.) 22 years 3 monthsOPs 86167ithout OPs balance 119000
    Mortgage 2 - 100000 Value 185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt 300,000 - Now 129000
    • sarahevie1
    • By sarahevie1 26th Jan 18, 9:34 PM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    After spending time in a wild panic, about this tax bill, feeling calmer. Went for a cuppa with two friends before the school run and i realised i could use whats currently in my acounts, plus child maintenance ex is paying me this weekend to clear tax bill. Leaving me with 116 until i get paid next friday. Will need to double check no direct debits are due but should work out. Moments like these i could do with a credit card but i dont have one, as live by the principle, if i cant afford it, i dont buy it!
    Mortgage 1 - 29000 Value 283000 (Mortgage val survey Sept 15.) 22 years 3 monthsOPs 86167ithout OPs balance 119000
    Mortgage 2 - 100000 Value 185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt 300,000 - Now 129000
    • sarahevie1
    • By sarahevie1 29th Jan 18, 8:07 PM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    Been analysng wheher new income, outgoings is working.

    January income 1123.03
    Outgoings 1046.08
    So pleased with this as next month second job will increase income to at least 1800.

    So where has the income gone.

    Kids
    231 this is a mix of clubs 138 and 93 school trips.

    Social
    66.18

    Food
    109.85 pleased with this as incldes all packed lunches and we eat well.

    Presents
    13 a friends daughter.

    Petrol, train fare.
    104.70

    Bills
    469.85 total.
    Gas and electric 77, water 25, council tax 112, 47.04 phone, broadband, mobile. 208.81 mortgage.

    Clothes
    11.50

    Cash
    40 dont know what this was spent on.
    Mortgage 1 - 29000 Value 283000 (Mortgage val survey Sept 15.) 22 years 3 monthsOPs 86167ithout OPs balance 119000
    Mortgage 2 - 100000 Value 185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt 300,000 - Now 129000
    • beanielou
    • By beanielou 29th Jan 18, 8:33 PM
    • 55,063 Posts
    • 219,992 Thanks
    beanielou
    That looks good
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger.
    • sarahevie1
    • By sarahevie1 1st Feb 18, 4:34 PM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    Paid my tax bill. One of my tenants paid their rent. I now only have 200 in the world and btl mortgage due 8th. I am due maintenance and payment from one my jobs tomorrow. My other two tenants also owe me 1800. This covers 3 months rent though. I also get paid from my research job on the 9th. I dont think i have ever lived so close to the wind but as ive paid 17/18 tax via PAye shouldnt have a bill until jan 2020. Which is good.
    Mortgage 1 - 29000 Value 283000 (Mortgage val survey Sept 15.) 22 years 3 monthsOPs 86167ithout OPs balance 119000
    Mortgage 2 - 100000 Value 185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt 300,000 - Now 129000
    • sarahevie1
    • By sarahevie1 23rd Feb 18, 3:00 PM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    Interesting month. Seem to be in a much better place financially. When my tenants paid three months worth of rent, to cover Jan-March. I put the amount needed to pay the mortgage into savings. I have been trying to keep it there, using income to pay the mortgage.

    So far, so good, I really do need this 1400 contingency as it is only 2 months rent.

    Have had a slightly more spendy month, as went to Thornton Hall farm over half term, one of those trampolining places, went for lunch with friends. Have also had a few new bits of clothes to buy. However, get paid in a week and there's still over 900 in my current account. (This will disappear paying the BTL mortgage). Feel like I'm finding my feet.

    Have had another offer on my house, it is a bit low, but have been back house hunting in earnest. The house I was buying, sold within 4 days of going back on the market, knew it was a good one!

    As I'm resigned to the fact I can't afford the four bed detached forever home in a village in North Yorkshire, have decided to renovate or build one. It's not something I could have contemplated whilst full time teaching but now I only work 30 hours a week, it seems much more manageable.
    Mortgage 1 - 29000 Value 283000 (Mortgage val survey Sept 15.) 22 years 3 monthsOPs 86167ithout OPs balance 119000
    Mortgage 2 - 100000 Value 185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt 300,000 - Now 129000
    • sarahevie1
    • By sarahevie1 23rd Feb 18, 3:05 PM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    My property search does get me down, as can't get a mortgage, even if I wanted one and my budget of 325,000, as the sneering estate agents keep reminding me, doesn't go very far in the locations I'm looking.

    However, I keep reminding myself I've come along way, and there's not many in their early thirties, who have single handedly raised 3 children, who could be mortgage free at this age on very limited income. I appreciate the 75,000 has really helped but 250,000 of it is me alone!! I'm proud that I can look at nice family homes on my budget. I'm also proud of the fact that I now can take and pick up my kids from school everyday, and its all down to frugal living.
    Mortgage 1 - 29000 Value 283000 (Mortgage val survey Sept 15.) 22 years 3 monthsOPs 86167ithout OPs balance 119000
    Mortgage 2 - 100000 Value 185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt 300,000 - Now 129000
    • Courgette
    • By Courgette 23rd Feb 18, 9:12 PM
    • 1,723 Posts
    • 18,249 Thanks
    Courgette
    I think you're doing brilliantly. You're right to be very proud of yourself
    A reminder to myself: Persistence Pays Off
    Mortgage 1: 95,000 78,900 at 3.1%
    Mortgage 2 (BTL): 83, 489.15 at 2.99% (I.O.)
    Savings (S&S ISA): 3000 Plus 6 months emergency savings earning 3%
    • teabody
    • By teabody 23rd Feb 18, 10:07 PM
    • 199 Posts
    • 695 Thanks
    teabody
    Keep going x
    • beanielou
    • By beanielou 24th Feb 18, 6:09 PM
    • 55,063 Posts
    • 219,992 Thanks
    beanielou
    Be proud
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger.
    • sarahevie1
    • By sarahevie1 26th Feb 18, 12:35 PM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    Had a good weekend. Went to a nearby city to visit a friend, took kids out for a drink and cake and to a play area we've never been before. I do love new places!!

    I went to a local pub quiz last night, first time ever, with a new group of friends. Only went for two hours but had a real laugh and won a bottle of wine, box of dairy milk and 8 bottles of stella cider.

    Swapped gas/electric this morning so DD will be altering from 77 per month to 58 per month, but takes 3 weeks to swap.
    Mortgage 1 - 29000 Value 283000 (Mortgage val survey Sept 15.) 22 years 3 monthsOPs 86167ithout OPs balance 119000
    Mortgage 2 - 100000 Value 185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt 300,000 - Now 129000
    • sarahevie1
    • By sarahevie1 26th Feb 18, 12:36 PM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    Keep going x
    Originally posted by teabody
    Thanks for the support, will always keep plodding, think over the last 7 years that's the one thing I can say I've achieved
    Mortgage 1 - 29000 Value 283000 (Mortgage val survey Sept 15.) 22 years 3 monthsOPs 86167ithout OPs balance 119000
    Mortgage 2 - 100000 Value 185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt 300,000 - Now 129000
    • sarahevie1
    • By sarahevie1 26th Feb 18, 12:38 PM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    Be proud
    Originally posted by beanielou
    It's funny how as adults you always say to kids 'you should be very proud' and 'I'm so proud of you for x/y/z whatever' but I think it's equally important to keep thinking it as adults from a self worth point of view.
    Mortgage 1 - 29000 Value 283000 (Mortgage val survey Sept 15.) 22 years 3 monthsOPs 86167ithout OPs balance 119000
    Mortgage 2 - 100000 Value 185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt 300,000 - Now 129000
    • sarahevie1
    • By sarahevie1 28th Feb 18, 10:03 AM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    End of the month and savings 1400 still in tact. 703 in current account ready for BTL mortgage

    Money in
    665.50 - job 1
    450 - Maintenance
    450.63 job 2
    18.63 - Tutoring
    193.40 - Child benefit

    Total - 1778.16

    Money Out
    Mortgage 136.66
    Gas/electri 77
    Water 25
    Broadband,mobile, phone 55.01
    Utilities total 293.67

    Food/cleaning products/supermarket shopping
    218.53

    House maintenance
    51

    dancing
    6.75

    Clothes
    8.55

    Petrol
    135.29

    Social
    128.85

    Cash
    60

    Total 902.64
    Mortgage 1 - 29000 Value 283000 (Mortgage val survey Sept 15.) 22 years 3 monthsOPs 86167ithout OPs balance 119000
    Mortgage 2 - 100000 Value 185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt 300,000 - Now 129000
    • beanielou
    • By beanielou 28th Feb 18, 12:38 PM
    • 55,063 Posts
    • 219,992 Thanks
    beanielou
    Great news on the end of the month totals
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger.
    • sarahevie1
    • By sarahevie1 28th Feb 18, 6:14 PM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    Hoping to carry on with this frugalness until end of June (so four months) if I can I should end up with 5000 in savings which is the aim.
    Mortgage 1 - 29000 Value 283000 (Mortgage val survey Sept 15.) 22 years 3 monthsOPs 86167ithout OPs balance 119000
    Mortgage 2 - 100000 Value 185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt 300,000 - Now 129000
    • sarahevie1
    • By sarahevie1 13th Mar 18, 11:53 AM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    Saving is going really well at the moment. I ALMOST booked another hol for October half term, 584 for a week in Spain for the four of us. Couldn't bring myself to as savings only at 1400. Still no tenants in the BTL but I am trying to live a little.

    Going to the cinema with two friends and kids on Friday, 9 of us in total. Will be brilliant but it's costing 37 for the cinema alone for me and my three, who knew these things were so expensive!!
    Mortgage 1 - 29000 Value 283000 (Mortgage val survey Sept 15.) 22 years 3 monthsOPs 86167ithout OPs balance 119000
    Mortgage 2 - 100000 Value 185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt 300,000 - Now 129000
    • Honeysucklelou2
    • By Honeysucklelou2 13th Mar 18, 11:42 PM
    • 886 Posts
    • 3,579 Thanks
    Honeysucklelou2
    Just catching up on your diary. It must make such a difference not being at school fulltime, in terms of the pressure of planning, marking and assessment etc.

    Well done on all you have been able to achieve...your diary is inspirational.
    paydbx #93 692/8,000.
    Loan 17k - paid off in Aug 2017. Home improvement loans 3342 March 2017. 3123 in Jan 18
    • selloptape
    • By selloptape 14th Mar 18, 7:00 AM
    • 457 Posts
    • 1,890 Thanks
    selloptape
    Such great totals - I agree, your diary is inspirational
    GC May 235.52/290 GC April 240.65/300March 322.53/350
    2 Savers Club #59 58
    MFW 2018 #49 600/3,000
    MFiT T4 #21 - reduce mortgage by 20k over 3 years
    • sarahevie1
    • By sarahevie1 15th Mar 18, 11:47 AM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1

    Well done on all you have been able to achieve...your diary is inspirational.
    Originally posted by Honeysucklelou2
    thanks so much, it isn't inspirational really, I was just conditioned from a very early age to not want *things* and I never really have. I also had pretty great role models in that my mum and dad left work in their early forties through frugal living and I always wanted the same.

    It was really hard as a teenager living on 10,000 per year, when dad left work, and just had his private pension to live on, but 15 years on it was the right decision.

    My DD1 is the complete opposite, but I don't think she'll waste money she doesn't have, so I don't worry about debt as such.
    Mortgage 1 - 29000 Value 283000 (Mortgage val survey Sept 15.) 22 years 3 monthsOPs 86167ithout OPs balance 119000
    Mortgage 2 - 100000 Value 185000 (Purchase price 2007.) 15 years 11 months
    Original Mortgage debt 300,000 - Now 129000
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