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  • FIRST POST
    • new mortgageeee
    • By new mortgageeee 20th Feb 16, 5:53 PM
    • 112Posts
    • 251Thanks
    new mortgageeee
    Can definitely do better!
    • #1
    • 20th Feb 16, 5:53 PM
    Can definitely do better! 20th Feb 16 at 5:53 PM
    Seemingly like many newbies, I've been lurking for a while - finally thought I'd take the plunge and start a new diary. Mainly for motivation I suppose - hope to get and share some great ideas too!

    I bought a shared-ownership flat back in 2012 (hence the "new mortgageeee" name!) - I know there's much debate over their usefulness (and value for money), but it's worked out well for me so far. To date I've paid off 70% of my 25% share (OP 250-350 a month) - leaving me with approx. 35k equity for a "real" deposit when I'm ready to move. If I'd have stayed renting that amount would have been an impossible dream!!

    MFiT - T4 #65 hoping to clear the remaining 16,550 mortgage on my share (may be a bit of a stretch, but worth aiming for!).

    I know my savings are lower than I'd like (for emergencies) - currently splitting spare money at end of month 2/3 OP 1/3 saving, but I'm sure there's more I can do to budget through the month and find extra bits and pieces - I've only just cottoned on to Swagbucks for example! Will sort out a budget spreadsheet to better plan - any suggestions or examples very welcome!

    All for now, thanks for reading! May do a SB survey then will be trying to relax this evening... fingers crossed !!
    - Mortgage 1 started Oct 2016 120,000 101,700
    - Mortgage 2 started Feb 2019 30,000 28,400
    - Student loan started 2009 16,413 7,500
    + New house fund 39,750/40,000
    + Emergency savings 4,200/5,000
    + S&S ISA 320
Page 6
    • zcrat41
    • By zcrat41 2nd Jun 19, 6:00 PM
    • 1,584 Posts
    • 4,259 Thanks
    zcrat41
    Hi, really enjoyed reading your diary. Great achievements so far,
    Well done
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