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  • FIRST POST
    • greent
    • By greent 26th Mar 10, 2:46 PM
    • 7,006Posts
    • 71,532Thanks
    greent
    greent's mfw journey
    • #1
    • 26th Mar 10, 2:46 PM
    greent's mfw journey 26th Mar 10 at 2:46 PM
    Afternoon all!

    I have been inspired after reading lots of the diaries on here to join in.

    Background: OH and I are both 40. Have 4 children (12, almost 10, 4 and 10 months) OH was made redundant twice last year and recently started working as a contractor on a daily rate (4 month contract, may be extended a little) - so we now have a limited co of which we are both directors. I no longer work. We have a BTL property on which we have an interest only mtge and will clear that by selling the property (only bought for capital gain, not income, purposes) BTL property has long term tenant in. Rent covers mtge and buildings insce and repairs/ renewals with a small excess - but not much.However, it's on a fixed rate and takes care of itself.

    MFW relates to our home. Bought in Oct 2005 for 277k, 130k mtge over just under 16 years (kept previous end date) Since then we have added a further 30k to the mtge for a loft conversion (needed due to the no of children!!) that cost approx 35k. We have also spent 20k+ on a bespoke fitted kitchen and building work - but financed that from savings/ income. And decorated and new carpets (previous owners ran out of money and had to sell, so place was full of stuff to do, even though it's still only 11 years old!) Some overpayments have been made, as can be seen from the overall balance.


    OUr mtge is with C&G. I have a statement for balances as at 31/12/09:
    (Balance as at 31/01/2009 was £124 616, so we reduced the balance by just under 20k last year)
    Sub Account 01
    Term remaining 12 years and 7 months.
    Fixed rate 4.79% - until 30/09/10
    Balance £79512.27

    Sub Account 02
    Term remaining 13 years 1 month
    Fixed rate 3.99% until 30/04/11
    Balance £25423.78

    Sub Account 03
    Term remaining 12 years and 7 months
    Fixed rate 4.79% until 30/09/10
    Balance £33.32


    TOTAL BALANCE: £104969.37

    We can repay by 10% a year without incurring penalty fees. We pay £1074.94/ month - this includes an element of overpayment, but I'm not sure how much (we didn't reduce our monthly payments when we paid off £12500 after DH was made redundant the first time)

    My first step is going to be repaying Sub Account 03 We are with C&G, so I will phone them up about this. I can also afford to repay £4k to £5k from sub account 01, I think - but will leave that until after a meeting with our accountant (we are not sure yet exactly how much OH will be paid from the linited co)


    I'm kind of looking for advice/ ideas, I guess... Would posting an income/ expenditure budget be an idea?

    greent


    ETA: We don't have any other debts. CCs are used (Tesco ones for Clubcard points for rewards) but are paid off in full.
    Last edited by greent; 25-05-2010 at 11:41 AM.
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786. 2018 OPs (#18) £877.49/£4000
    Net sales 2018 £491.03/£1000 PAYDOX18 (#15) £13869.38/£18694.38
Page 89
    • Karmacat
    • By Karmacat 10th Feb 18, 10:27 AM
    • 29,165 Posts
    • 166,429 Thanks
    Karmacat
    It does sound wonderful, and I love your description of what you're going to do hunkering down over half term. Take it easy still though
    Retired August 2016
    • tootallulah
    • By tootallulah 10th Feb 18, 2:51 PM
    • 2,118 Posts
    • 7,391 Thanks
    tootallulah
    The kitchen sounds absolutely wonderful. You have been v busy GreenT-how inspiring!

    I still hate being a landlord but I learnt a lot from you and toughened up a bit. These days I have a property manager and it is blissfull in comparison with when I did it myself.
    Mortgage House £45,000, 26 January 2018, 28th April £16,500.
    • Goldiegirl
    • By Goldiegirl 11th Feb 18, 4:29 PM
    • 8,330 Posts
    • 48,852 Thanks
    Goldiegirl
    The kitchen sounds great - it's all very exciting
    Early retired - 18th December 2014
    If your dreams don't scare you, they're not big enough
    • greent
    • By greent 11th Feb 18, 5:27 PM
    • 7,006 Posts
    • 71,532 Thanks
    greent
    I don't blame you in having a property manager, Toots, especially as you're not local to the properties (our rental is less than a mile from our house) We've gone for a managed let this time. Saves me dealing with any possible hassles - such as the last tenant putting in for full repayment of the deposit to him!! - claiming the tenancy ended over a month ago, no damage, was clean etc - grrrrr! I've counter claimed (obv) so we'll see how it goes. Am so cross - he's the son of someone I've known since primary school (so more than 40 years!) - talk about taking the mick!

    I would post pics of the kitchen when done - if someone tells me how - or can I put up (and then later remove) a link to pics on faceb00k?

    Aside from that - hmm.... oooh - I know - I won £25 on Premium Bonds this month! - which is automatically reinvested. I have 2 local people (both friends of friends) who may be interested in our old granite kitchen worktops - otherwise I shall be advertising it maybe later this week on faceb00k (if unsold I will hang on for an offer before listing on fleabay to save on fees! )

    OH is working from home tomorrow, so I am leaving him in charge of the smallest 2 (and the kitchen fitter) and taking DS1 into town in search of new jeans...... I've got a couple of other little bits to do whilst I'm there (I rarely go into town nowadays) and also A1di and Sainz shopping (but will return DS1 to home before those, as I don't think he'll appreciate 2 supermarket trips!) Am hoping we can achieve all town-related things within 2 hours (ideally less) - we'll see......
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786. 2018 OPs (#18) £877.49/£4000
    Net sales 2018 £491.03/£1000 PAYDOX18 (#15) £13869.38/£18694.38
    • Karmacat
    • By Karmacat 11th Feb 18, 6:59 PM
    • 29,165 Posts
    • 166,429 Thanks
    Karmacat
    Good luck with the shopping tomorrow!

    Re the worktops - don't know what Gumtree is like in your area, but here, I put a good wooden bookcase onto it, and it sold for £80 within a few days. It was only a third of what I'd paid for it but compared to ebay etc, it was great.
    Retired August 2016
    • michelle09
    • By michelle09 18th Feb 18, 8:16 AM
    • 777 Posts
    • 4,277 Thanks
    michelle09
    We did quite well on Gumtree in the end, but it was full of timewasters. It certainly requires commitment round here.

    Kitchen sounds wonderful!
    • greent
    • By greent 19th Feb 18, 7:10 PM
    • 7,006 Posts
    • 71,532 Thanks
    greent
    Gumtree's not *huge* here, but probably well worth giving a go for the granite - will do that when we actually have room in the garage to move it and take some pics!

    Kitchen is *essentially* finished - in that the units are all in, the flooring is down, the new radiators are up and the granite worktops/ window sills/ splashback are all fixed. There are some snags (some granite needs sorting, 3 floor tiles were damaged and need sorting, there's a cupboard which needs squaring up slightly) but it's all in hand. Kitchen co have been fab and we also asked them to template it/ cut/ fit some solid maple skirting (to match units) - and they're doing it f.o.c - ok, the maple is most likely left over from our kitchen anyway (most people have handpainted kitchens nowadays, apparently, as opposed to solid wood) but they still have to cut it and fit it. Templating last time alone cost us £120, let alone the wood cost + then fitting costs! Brilliant service The correct range is being delivered 7th March (made to order - even though I ordered it early Dec the supplier made an error in the order at their end, so the wrong one was originally delivered) and hopefully all snags sorted before then/ same day. We think we have a painter (works for the kitchen co) so just need to decide on main colour (may have a feature wall, but can't decide that until range is in, as it's a purpley-pink colour) So hopefully we'll basically then be done (we're then changing the internal kitchen door, but we're changing all the downstairs internal doors so will do them all together later in the year) Whoop! A major job almost ticked off

    In other news - tenant has moved in, so money will eventually start heading back to us. No update on deposit from old tenant yet - not expecting any action on that for a month.

    Half term last week - a quiet one, due to a combination of weather (cold/ windy/ wet) and various tradespeople in every day. We played games, built lego and did some sorting of small people's 'stuff' (a never ending task! ) Friday night we played bowling and yesterday 2 of the 3 boys went to the cinema with OH to watch Black Panther. Still managed with just those things to bust the half term budget - but it was fun and we got deals where poss (cashback/ Friday Frenzy bowling prices and money off food there/ cheap cinema tickets and took own snacks) - and life is for enjoying along the way - and not all enjoyment is free, sadly!

    Am enjoying the longer days - whilst I'm still getting up in the dark, the difference on an early evening is really quite noticeable Roll on SPring
    x
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786. 2018 OPs (#18) £877.49/£4000
    Net sales 2018 £491.03/£1000 PAYDOX18 (#15) £13869.38/£18694.38
    • Karmacat
    • By Karmacat 19th Feb 18, 9:50 PM
    • 29,165 Posts
    • 166,429 Thanks
    Karmacat
    Am enjoying the longer days - whilst I'm still getting up in the dark, the difference on an early evening is really quite noticeable Roll on SPring
    x
    Originally posted by greent
    I find the evening difference noticeable too - I like gardening later on, for some reason, and its a lot easier when the light lasts till the early evening.
    Retired August 2016
    • greent
    • By greent 26th Feb 18, 5:30 PM
    • 7,006 Posts
    • 71,532 Thanks
    greent
    And Feb has almost gone already! That flew by in a whirlwind of kitchen fitters, plumber, plasterers etc (and the tail end of flu, and half term)

    DD is here this week - it's reading week and she has 2 essays to write and she'd rather be somewhere properly warm, I think! Lovely to have her home

    Bit of relief re the 'old' tenants - they've finally agreed to what I said I was owed from their deposit without any further fuss, so that should be coming back to me by early next week. We are still £££ down, but less so New tenant has already raised 3 issues with the property - all very minor (eg: non working solar outside light left by previous tenant and should have been removed. She'd like mains outside lighting, but that's not going to happen - will replace solar light if necessary (would cost < £20))

    We've had a few flakes of snow here today, but that was it. Am not expecting much - we may be too far West

    Snagging for kitchen being done next week. All the rubbish has now gone in a skip (saves us lots of journeys to tip/ recycling centre and the skip co recycle anyway) Once snags are done I shall pay remaining bill - which then leaves us with c £200 in the kitchen fund - which we'll put towards the cost of getting someone in to paint it! - not very mse, but it's far too fiddly to do it ourselves, and this way it will look good

    We're being social butterflies at the mo - the Saturday just gone we went out to use a Xmas present - a voucher for a 10 course tasting menu with wine - very lovely it was, too! (except the ox tongue dish - didn't like that - but the restaurant was fantastic and gave us an extra dish of smoked duck instead! ) The previous Saturday we were out with friends to use their Xmas present of an escape rooms voucher (we didn't escape - we were about 30 seconds too late! ) and then went for a meal. Next Saturday we're out somewhere (No idea where - it's a surprise - but it's food related) and then the following Saturday out for an event (as opposed to food) - again, a surprise This is most unlike us!
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786. 2018 OPs (#18) £877.49/£4000
    Net sales 2018 £491.03/£1000 PAYDOX18 (#15) £13869.38/£18694.38
    • tootallulah
    • By tootallulah 26th Feb 18, 7:12 PM
    • 2,118 Posts
    • 7,391 Thanks
    tootallulah
    I love the sound of the new kitchen especially a pinky/purply range! I still hate being a land lady so managed letting is imperative, although both sets of tenants do have my email which slightly defeats the purpose. I know what you mean about deposits, who do they think paints everywhere, cleans and steams etc? Of course when I was renting I was incensed about never getting my deposit back!
    Mortgage House £45,000, 26 January 2018, 28th April £16,500.
    • brizzledfw
    • By brizzledfw 8th Mar 18, 10:27 PM
    • 7,275 Posts
    • 35,697 Thanks
    brizzledfw
    Ooh yes, that range is inspiring some real envy
    MFiT-T4 Member No. 96 - 2022 is my MF goal
    Winter 17/18 Savings Rate Goal: 25% [October 30%]
    Declutter 60 items before 31.03.18 9/60 ** LSDs Target 10 for March 03/10 **AFDs 10/15 ** Sales/TCB Target 2018 £25/£500 NSDs Target 10 for March 02/10 Trying to be a Frugalista
    • michelle09
    • By michelle09 9th Mar 18, 8:08 AM
    • 777 Posts
    • 4,277 Thanks
    michelle09
    Unless you are competent at painting (we are really not) then I think it is perfectly acceptably MSE to get someone to paint it for you.
    • apple muncher
    • By apple muncher 9th Mar 18, 3:42 PM
    • 7,267 Posts
    • 54,695 Thanks
    apple muncher
    How is your toe?
    NST May #1; NSD 11/19 ; Ex 14/20 ; craft /30 (66); remove 31 (402)
    2018 Pay off: £1626; 2
    018 sell

    Mortgage £21,422 (01/14: £78,201; 01/15: £59,629; 01/16: 39,915; 01/17: 27,295; 01/18 23,143) MFWDate Dec 2018
    • greent
    • By greent 9th Mar 18, 7:08 PM
    • 7,006 Posts
    • 71,532 Thanks
    greent
    This is the range: (although I didn't get it from here): https://electrical.coop.co.uk/cooking/range-cookers/dual-fuel/stoves-richmond-1000dft-sto-rng-richmond1000dft-wb/

    Kitchen is almost done. We have 2 small niggles with granite (1 bit needs polishing underneath, 1 bit has been over polished on an edge) and another bit of floor needs replacing due to damage by granite co (thank heavens for individual tiles! - these ones - http://www.karndean.com/en-gb/floors/products/ap03-black-oak-parquet) and we need to get it painted (but think we've finally chosen the colours - a soft pale grey on 3 walls and a dusky violet on one wall behind the range) - oh - and the kitchen co need to fit the (free ) skirting board

    Toe is still bad, apple - bruising keeps coming out up my foot if I try anything strenuous with it Will give it a couple more weeks and see if it improves.

    We ended up with 1 1/2 snow days off school - had fun in the snow and built snowmen and snow pets DD was home that week from uni, which I was glad of, as Cardiff was very snowy and there were power cuts where she lives (and the flat is cold at the best of times - and only has electric heating) I really enjoyed the enforced down time

    Busy week at work this week with Y13 mocks (so DS1 has had lots of exams too) Was also my birthday on Tues - lots of lovely presents (and was why we went out for food last Sat and why we're going out tomorrow (though I still don't know what we're doing!))

    Money making - haven't listed anything on fleabay - tried the other day and failed, so gave up and will list them as drafts ready to go live when I have another good offer for fees (these are quite high priced items for me, so if I can sell them for a bargain fee price I will!) Will also try gumtreeee for a couple of the bigger items.

    We have new neighbours - have only met Mr & Mrs briefly so far (separately) but both seem nice They also have a toddler (I think) - weather and hours have not been conducive to chatting much! Our old neighbours were lovely but moved because they are both in their 80s and the house was too big for them/ too much work to keep up. They clearly still want to be in the area, though - as they have only moved less than a mile away (but means they are much closer to the shops/ GPs/ library/ bus stops)
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786. 2018 OPs (#18) £877.49/£4000
    Net sales 2018 £491.03/£1000 PAYDOX18 (#15) £13869.38/£18694.38
    • gallygirl
    • By gallygirl 9th Mar 18, 10:52 PM
    • 16,586 Posts
    • 109,528 Thanks
    gallygirl
    Stove envy here
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    Mortgage Balance = £0
    "Do what others won't early in life so you can do what others can't later in life"
    • newgirly
    • By newgirly 9th Mar 18, 11:37 PM
    • 6,264 Posts
    • 43,271 Thanks
    newgirly
    And floor envy
    MFW 21
    Target for 2018 £40k/£11,092 paid so far

    Mortgage £38,275 4yrs 1mth left. Total owed £50,898 plan to clear in 14 months
    • EatingTheElephant
    • By EatingTheElephant 10th Mar 18, 8:44 AM
    • 1,289 Posts
    • 7,055 Thanks
    EatingTheElephant
    I love the range I

    I may keep the link for when we do our kitchen, it would be perfect.

    Enjoy your socialising
    • greent
    • By greent 17th Mar 18, 9:42 AM
    • 7,006 Posts
    • 71,532 Thanks
    greent
    Last week's outing was to watch Lucy Porter (comedienne) at a local venue Although (for me) the best bit of the night was bumping into (and then sitting by) 3 of my old school friends - good time catching up

    No outings this week (other than to watch DS2 play rugby in the slight snowfall we're currently having - brrrr!)

    We've had our first payment from lettings agent. We lost the first month to tenant finding fee etc but it looks like - going forward - we're going to receive less than £20 less than we were getting ebfore, as they are paying more than the previous ones So OPs have started back up in a smaller way this month, just to be sure - will make bigger ones in new tax year, when I am more confident of figures.

    Am looking forward to the Easter hols - DD will be back (currently not having any lectures/ seminars at uni due to strikes ) and it's DS1's 18th at the end of the break. DS3 and I have agreed to blitz his room - will hopefully eb able to get rid of some of the younger toys (I have to be careful - he hangs on to things longer if you try too hard to get rid of them) - esp as it's his bday in May, so more will be coming in then! He also has the smallest room, but as he's still only 8, has a lot of toys and pother stuff to fit in there! His wardrobe needs a good sort out too - he's growing like a weed at the moment! :eek

    Right - best get a move on to the chilly rugby match - I have to leave early to come home for a (fingers crossed) faceb00k sale

    Happy Weekend!
    x
    • brizzlegirl
    • By brizzlegirl 17th Mar 18, 2:01 PM
    • 205 Posts
    • 1,230 Thanks
    brizzlegirl
    Hi there greent, thanks so much for posting the link. I feel for you on the rugby, we have bowed out of the chilly footie today...OH has a cracked rib too so being in the freezing cold will just stiffen him up more.

    Snow flurries have just started again...its really pigging cold.

    DD1 is head down into revision now after a mixed experience with mocks (ex
    Last edited by brizzlegirl; 17-03-2018 at 2:08 PM.
    MFW..aiming to pay it off in 2022.. 2018 Savings Rate - Goal 25% [25.2% March 13% April ] Income Goal £56/£750 May Goals: AFDs xx/15; Declutter 60 items xx/60; LSDs xx/10; NSDs xx/10 Exercise xx/30 Aiming to be a true Frugalista!
    • brizzlegirl
    • By brizzlegirl 17th Mar 18, 2:06 PM
    • 205 Posts
    • 1,230 Thanks
    brizzlegirl
    Expected..as she focussed on making revision materials not the mocks), but even so, its game on now. She is still working and doing DoE and volunteering, but she wants to do more than just study. I am not sure she always has the balance right, but she also has a view and I need to let her find her own way, shes a sound judgement about things usually so am content to let her try and juggle. So suspect our kids are in the same boat in Y13 with some younger ones too..although think your son has applied for uni? My DD is waiting until she knows her results. Assume thats on 16 August? Need to check... (yes it is...fingers and toes crossed for all of them...)


    Have a great weekend x
    Last edited by brizzlegirl; 17-03-2018 at 2:10 PM.
    MFW..aiming to pay it off in 2022.. 2018 Savings Rate - Goal 25% [25.2% March 13% April ] Income Goal £56/£750 May Goals: AFDs xx/15; Declutter 60 items xx/60; LSDs xx/10; NSDs xx/10 Exercise xx/30 Aiming to be a true Frugalista!
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