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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 1
    • sarahevie1
    • By sarahevie1 10th Apr 15, 12:44 AM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    • #2
    • 10th Apr 15, 12:44 AM
    • #2
    • 10th Apr 15, 12:44 AM
    I'm waiting for my tax credit renewal, I am nervous about this as it will be a much needed source of income.

    So income
    1369 teaching salary
    400 maintenance
    200 supermarket job
    Tax credits tbc

    Outgoings
    1120 childcare
    521 mortgage
    101 council tax
    200 food
    45 water (entered)
    100 gas/electric
    40 phone/mob/broadband
    250 car costs annual ins, petrol, servicing etc.
    • newgirly
    • By newgirly 10th Apr 15, 12:50 AM
    • 6,337 Posts
    • 43,807 Thanks
    newgirly
    • #3
    • 10th Apr 15, 12:50 AM
    • #3
    • 10th Apr 15, 12:50 AM
    Hi sarahevie and welcome back I'm sorry to hear you have had such a rough time of it recntly. Thats a lot of big changes in a short space of time, you sound like you are doing the right thing for the moment and looking after yourself and your girls and keeping hold of your home, that can't have been easy.

    I wish you all the best with the new diary and will pop in and visit, best of luck

    Edit- blimey to the childcare, I'm guessing tax credits will help with that, its massive!
    MFW 21
    Target for 2018 40k/13,632 paid so far

    Mortgage 36,319 4yrs left. Total owed 48,358 plan to clear in 14 months
    • CathT
    • By CathT 10th Apr 15, 7:59 AM
    • 5,594 Posts
    • 39,049 Thanks
    CathT
    • #4
    • 10th Apr 15, 7:59 AM
    • #4
    • 10th Apr 15, 7:59 AM
    Hi sarahevie, welcome back. Sorry things have been so tough for you. Hope TC can help with those mammoth nursery costs. Credit to you working 6 days a week too!
    June 2018 -
    part 1 - 77,571
    part 2 - 45,272
    Total - 122,843
    • sarahevie1
    • By sarahevie1 10th Apr 15, 12:35 PM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    • #5
    • 10th Apr 15, 12:35 PM
    • #5
    • 10th Apr 15, 12:35 PM
    Mortgage stats
    58000 over 18 years 521 a month.
    Property valued by Halifax at 245,000.

    Currently in the process of going onto a Halifax 2yr fix at 1.99% should reduce payments to 320 a month.

    Overpayments haven't got a clue. I'm starting my diary as my outgoings are way higher than incomings and don't want to get into debt. Will have a clearer idea once tax credits are in place.
    • sarahevie1
    • By sarahevie1 11th Apr 15, 10:32 PM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    • #6
    • 11th Apr 15, 10:32 PM
    • #6
    • 11th Apr 15, 10:32 PM
    I'm trying to keep spends down, just had free toast and tea at work, had lunch before my shift and a late dinner once home.

    Was close to a nsd as took older girls to dance class, then decided to go for a walk/bike ride. However met a friend for soft play this morning so spent 5 but that wasnt too bad as weekends I find hard to keep spends down.
    • Luckyinlife
    • By Luckyinlife 11th Apr 15, 10:39 PM
    • 1,597 Posts
    • 6,036 Thanks
    Luckyinlife
    • #7
    • 11th Apr 15, 10:39 PM
    • #7
    • 11th Apr 15, 10:39 PM
    amazing you must be so busy with 3 kids full time work and on your own hats off to you
    hopefully you can stick some overpayments thro once you know whats going on do you have any idea at all currently ?
    Mortgage--- 67700 March 15 65221 April 15 64983 July 15 64780 sept 15 Remortgage 67295 oct 15 66599 Nov 15 65878.73 Dec 15 64834 1st Jan 16 Feb 16 64,511.89 March 16 64,056.40 April 16 62550 May 16 62,396.20 Feb 17 60.800
    Emergency fund 23k
    • MM10
    • By MM10 12th Apr 15, 11:19 AM
    • 57 Posts
    • 173 Thanks
    MM10
    • #8
    • 12th Apr 15, 11:19 AM
    • #8
    • 12th Apr 15, 11:19 AM
    Hi sarahevie1,
    Sounds like you are in a tough place. Kudos for trying to get your outgoings below the incomings.
    I hope you get a tax break for your present difficult situation.
    So are you moving back with your OH who just left?
    Total mortgage when started 256,809 in May of 2011; 2018 MFW #5
    Main mortgage was 214,309; now 110,716 at Feb 2016 ; 63,645 at Feb 2017 ; 10,600 at May 2018
    Original repayment date 2036; Main mortgage free date July 2021; Dec 2020; January 2019 June 2018
    • sarahevie1
    • By sarahevie1 12th Apr 15, 11:53 AM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    • #9
    • 12th Apr 15, 11:53 AM
    • #9
    • 12th Apr 15, 11:53 AM
    I honestly haven't got a clue. I would like to try living together again, but I can't have him coming and going. He seems to think moving into his house, will be the fresh start we need.

    It is a bit controversial on a mfw board but a lot of the disagreements centred on my inability to spend money. I don't know why but I'm really frugal and financial stability is important.

    I think after a hard five years, oh was earning 19,000; and when I gave up work due to a poorly child; we ended up owing 7 times his income on a mortgage. I think after a series of promotions for oh, me re training as a teacher he thought it would be plain sailing and suddenly it would be easy and it wasn't.

    I think, well I know, he deeply regrets walking out, but once you've done so, you can't really go back. I pushed him to buy his own place, as I wanted him off mine.
    • MM10
    • By MM10 12th Apr 15, 3:52 PM
    • 57 Posts
    • 173 Thanks
    MM10
    Oh poor sarahevie1,
    I hope your little one is getting stronger. There are pros and cons on whatever decision you make. If you decide to move back I guess you'll have to find a way to reach a financial compromise that would work. Personally, I think him having his place and you having yours was wise considering what has happened. Also paying off your mortgage needs to be a priority for your sake and that of the little ones.
    It's really great you have been able to get your career back on track!
    Total mortgage when started 256,809 in May of 2011; 2018 MFW #5
    Main mortgage was 214,309; now 110,716 at Feb 2016 ; 63,645 at Feb 2017 ; 10,600 at May 2018
    Original repayment date 2036; Main mortgage free date July 2021; Dec 2020; January 2019 June 2018
    • sarahevie1
    • By sarahevie1 12th Apr 15, 11:18 PM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    So not having a good ms day. Was getting the older girls ready to go to mums, and realised both DDS have a real lack of clothes/shoes.

    Both girls have Clark's school shoes, or wellies so cue trip to asda for two pairs of trainers. Also bought girls new toothbrushes and toothpaste for their trip. 16 spent so not too bad. Definitely cheaper than childcare.

    My aim to avoid food shopping as long as is possible is going OK. Spent 55 8 days ago hoping to get to 10 days without spending more. I'm out of bread, could make some.
    • sarahevie1
    • By sarahevie1 12th Apr 15, 11:29 PM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    Oh poor sarahevie1,
    I hope your little one is getting stronger. There are pros and cons on whatever decision you make. If you decide to move back I guess you'll have to find a way to reach a financial compromise that would work. Personally, I think him having his place and you having yours was wise considering what has happened. Also paying off your mortgage needs to be a priority for your sake and that of the little ones.
    It's really great you have been able to get your career back on track!
    Originally posted by MM10
    Dd2 will never be completely right as she has a lifelong lung condition but she's happy and healthy. Dd2s health is the main motivation for the number of clubs the girls do. I am thinking the clubs could be an area for savings as I spend over 100 a month on clubs.

    I'm hoping we can reach a financial compromise, oh wants me to keep my house and just live free of charge in his - it might work. Im not ready to consider it yet, will think more when the sale has gone through, completion is set for 28th June.

    Getting my career back has been the greatest gift, it has opened up so many opportunities for me personally and professionally.
    • sarahevie1
    • By sarahevie1 13th Apr 15, 10:49 PM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    Had to succumb to the supermarket shop as had no milk, bread, cereal, tins etc.

    Really pleased with some of the yellow sticker items, two loaves of bread 10p each, slice of cake 10p, chicken and wild rice salad 10p. Shopping came to 36 including loads of veg, fruit, washing powder and dishwasher tablets.

    If it lasts 9 days like the last lot I'll be chuffed.
    • beanielou
    • By beanielou 14th Apr 15, 10:15 AM
    • 55,063 Posts
    • 220,050 Thanks
    beanielou
    Shiny new diary
    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.
    • skint_spice
    • By skint_spice 14th Apr 15, 10:59 AM
    • 11,210 Posts
    • 23,533 Thanks
    skint_spice
    All the best with the new life/diary.
    5000 by December 2018 0/5000
    • sarahevie1
    • By sarahevie1 14th Apr 15, 10:21 PM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    Well what a day, 10 hours at school.

    Lovely tea out, had voucher so cost 5 for 3 hours of pub tea fun with a friend and the kids.

    Oh has had a crazy idea move into his new house free of charge, sell my house and use the equity to buy a couple of rentals to increase my income to cut down my working hours. Firstly, I'm not moving. Secondly, I want my own home not a couple of investments. Thirdly, who's to say I'd earn enough to cut down my hours.
    • sarahevie1
    • By sarahevie1 14th Apr 15, 10:22 PM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    All the best with the new life/diary.
    Originally posted by skint_spice
    Thanks for dropping by and for the good wishes
    • sarahevie1
    • By sarahevie1 14th Apr 15, 10:22 PM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    Shiny new diary
    Originally posted by beanielou
    Yay exciting feels like a new chapter. Thank you for stopping by.
    • sarahevie1
    • By sarahevie1 15th Apr 15, 10:36 PM
    • 506 Posts
    • 2,660 Thanks
    sarahevie1
    A much needed no spend day. Mum can over tonight so was lovely to catch up. Long day at work 10 hours, plus an hours marking tonight. I've been asked to shadow a subject leader as I'll be leading my own subject next year. Exciting and scary.
    • newgirly
    • By newgirly 16th Apr 15, 6:55 AM
    • 6,337 Posts
    • 43,807 Thanks
    newgirly
    Well what a day, 10 hours at school.

    Lovely tea out, had voucher so cost 5 for 3 hours of pub tea fun with a friend and the kids.

    Oh has had a crazy idea move into his new house free of charge, sell my house and use the equity to buy a couple of rentals to increase my income to cut down my working hours. Firstly, I'm not moving. Secondly, I want my own home not a couple of investments. Thirdly, who's to say I'd earn enough to cut down my hours.
    Originally posted by sarahevie1
    Hi sarah , why would you need to sell your place and buy investments to rent out if you did decide to move in, Wouldn't you just rent your place out and maintain some security longer term ,keeping your own home ?
    MFW 21
    Target for 2018 40k/13,632 paid so far

    Mortgage 36,319 4yrs left. Total owed 48,358 plan to clear in 14 months
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