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  • FIRST POST
    • hiddenshadow
    • By hiddenshadow 15th Sep 15, 9:51 AM
    • 2,489Posts
    • 11,434Thanks
    hiddenshadow
    Mortgage free by 2021?!
    • #1
    • 15th Sep 15, 9:51 AM
    Mortgage free by 2021?! 15th Sep 15 at 9:51 AM
    DH and I bought our house Christmas 2013 and have been overpaying automatically ever since. Original mortgage of £197,100, have managed to knock out £30k since then. We're both well-employed (computer programmers), no kids, though we do have a pair of dogs and a pair of cats.

    Our mortgage fix is up in December, so we've refinanced for 5 years and managed to shave almost 2% off the interest as well. By agreeing to up our agreed payment to the amount we've been overpaying so far (£1,350 rather than £778) we'll reduce our remaining term from 23 years to 11.75.

    I was playing around with the budget this week, as we ought to be able to live off one salary and save the rest. With that number (£2,750) as a monthly payment, we should be able to pay off the loan in 6 years. Would be really nice to get that down to 5 so that we don't have to refinance again, but paying off almost 200k in 8 years is still pretty exciting.

    Current Goal - June 2018 - Balance below £100,000

    Past Goals
    * December 2017 - Balance below £105,000 (£104,645.69 December 2017)
    * November 2017 - Daily interest below £7 (£6.98 November 2017)
    * April 2017 - Balance below £110,000 (£108,597.74 April 2017)
    * March 2017 - Daily interest below £8 (£7.86 March 2017)
    * February 2017 - Balance below £115,000 (£113,932.35 February 2017)
    * February 2017 - Monthly interest below £250 (£248.27 February 2017)
    * December 2016 - Balance below £120,000 (£119,900 December 2016)
    * November 2016 - Daily interest below £9 (£8.52 November 2016)
    * October 2016 - Balance below £125,000 (£124,999.99 October 2016)
    * September 2016 - Balance below £135,000 (£132,991.85 September 2016)
    * August 2016 - Balance below £140,000 (£139,700.00 July 2016)
    * June 2016 - Balance below £145,000 (£142,927.47 June 2016)
    * April 2016 - Monthly interest below £300 (£293.59 April 2016)
    * April 2016 - Balance below £150,000 (£149,847.03 March 2016)
    * April 2016 - Daily interest below £10 (£9.99 March 2016)
    * March 2016 - Balance below £155,000 (£152,953.85 February 2016)
    * January 2016 - Balance below £159,500 (£158,711.69 January 2016)
    * December 2015 - Balance below £161,800 (£161,771.90 December 2015)
    * December 2015 - Balance at/below £164,280 (£162,636.18 November 2015)
    * December 2015 - Balance below £165,000 (£164,907.08 November 2015)
    Last edited by hiddenshadow; 31-12-2017 at 10:16 AM.
Page 57
    • hiddenshadow
    • By hiddenshadow 4th Mar 18, 6:26 PM
    • 2,489 Posts
    • 11,434 Thanks
    hiddenshadow
    February Retrospective
    February OPs: £0.00

    Current (offset) balance: £103,054.42
    Month we'd be in to get to our current balance without OPs: November 2027 (+3 months)

    2018 Overpayments: £0.00
    2018 Interest Saved: £0.00

    Total Overpayments/Offsets: £68,918.78
    Total Interest Saved: £55,727.46

    Daily Interest: £6.80 (down £0.05)
    Monthly Interest: £210.25 (down £1.71)
    February 2017 Interest: £225.58 (down £15.33)
    February 2017 Daily Interest: £8.06 (down £1.25)

    House Bricks: 1

    Mortgage reduction: £2,386.02/£104,646 (2%) (Average: £795.34/mo)

    Edging closer to 5 figures!

    Net worth increase: £25,981/£150,000 (17%) + €3,709/€20,000 (18%)

    Making steady progress here.

    MFIT-4: £57,240/£90,000 (63%)

    Making steady progress here as well.

    Goals

    Personal
    • Health/exercise: Horse riding 4/4 Success!
    • Health/exercise: Zombies Run Week 4 Week 3

    Financial
    • Mortgage balance: £103,054.42/£103,055
    • Sell the house: Investigate rent-to-own option Done
    • 2018 Rent: !!!8364;7,500/!!!8364;7,500

    Career
    • Look for a new job In progress
    Last edited by hiddenshadow; 07-03-2018 at 7:35 PM.
    MFW: £197,100 (2013) to £95,804 (Nov '18)
    2018 MFW #56: £4,806/£105,000 4% / MFiT-T4 #15: £59,661/£90,000 66%
    • hiddenshadow
    • By hiddenshadow 4th Mar 18, 6:30 PM
    • 2,489 Posts
    • 11,434 Thanks
    hiddenshadow
    I've been horribly neglecting this journal...lack of time, lack of energy, busy (but good) visit with family, plus a general feeling that I don't have much worthwhile to say. I'm not striving to find/make extra pennies to OP, and while I should probably do that with saving money for new house, I don't have that same drive there. (Somehow paying a debt down motivates me much more numbers-wise than making a savings number grow?! Odd.)

    House - the tenants are interested in buying, but not in a position to do so until 2020 at the earliest, so I think we'll be marketing it this summer with the hope of selling by the end of 2018. Not as tidy as selling to the tenants, but frees up the equity for our use sooner.

    Job - have applied for a few things, and have a final interview for one this week. Fingers crossed that goes well -
    work is still being ridiculous, and also wants me to switch to be a contractor in April so that I can handle the tax payment stuff between UK/Ireland. I don't mind doing that, per se, but I'm hoping if I could give my notice this week or next I could skip all that hassle (or at least do it with a new workplace where I'd be staying longer than a few weeks!). Fingers crossed.

    Not much else to report. The US holiday is booked for next month, and I'm mulling over whether to arrange a full lease of a horse at the barn in May. I would like to ride more than once a week, but it also seems like an extravagance before we've got the rent/house stuff settled. We'll see...
    Last edited by hiddenshadow; 07-03-2018 at 7:33 PM.
    MFW: £197,100 (2013) to £95,804 (Nov '18)
    2018 MFW #56: £4,806/£105,000 4% / MFiT-T4 #15: £59,661/£90,000 66%
    • hiddenshadow
    • By hiddenshadow 3rd Apr 18, 8:19 PM
    • 2,489 Posts
    • 11,434 Thanks
    hiddenshadow
    So, March happened fast....

    - got, and eventually accepted, a job offer! Current job did a whole song and dance about wanting to keep me on, but ultimately the things that annoy me aren't likely to change anytime soon, plus new job offered more money

    - from May I'll be officially freelancing (purely for payment purposes, new job is offering stock options + paying for equipment), so I'll be able to handle my own pension contributions, business expenses, pay schedules, etc. Plus I'll be paid in euros, which should make the budget easier to manage

    - ...speaking of pension contributions, this is the second month that current job has been late paying mine into my pension provider. I've e-mailed them about it and their rather cavalier response was "the important part is it's being paid!" Well...yes, except that 1) it isn't being paid, clearly 2) it's also rather important when it's paid, as if it were my take-home pay that was being delayed by weeks there would be a major stink. Ah, well, more reason to be glad I'm leaving...and at least compound interest isn't really a concern when the delay is a matter of weeks. Still, it's the principle of the thing.

    - may get paid a "bonus" at work this month, if I finish this last project by the end of the month. That might mean working a bit during our US holiday, but as we have no plans I don't mind too much. This is still to be agreed, so I'm not counting on getting it at all, but it would be nice...would essentially turn a 2+ week gap in pay (when un-accrued holiday is accounted for in my final pay) into a slightly higher than normal pay month.

    - we should finally be getting faster internet here! After several calls to tech support who assured me that everything magically works after resetting the router (despite things clearly not working within minutes of doing so!), they finally sent an engineer out. He did some things that had little effect, if any, due to our distance from the exchange, but he also got in touch with someone in the fibre network to see if our house was meant to have fibre in the first place. It turns out it was, so we should be getting it installed tomorrow! (I'm not getting too excited until it's in place as it was meant to be installed last week, but only one person showed up and it's a 2-person job apparently, so they went away again, leaving us very sad. )

    I can't think of any goals for April at the moment, especially as we'll be on holiday for almost half of it, but I think if I can secure the work bonus and get myself ready to go for the new job, those would both be good things.

    Also, we should hit 5 figures on the mortgage with June's payment! That's assuming I don't get itchy fingers if that work bonus happens and I have "spare" money to OP.
    MFW: £197,100 (2013) to £95,804 (Nov '18)
    2018 MFW #56: £4,806/£105,000 4% / MFiT-T4 #15: £59,661/£90,000 66%
    • FloppyDisk
    • By FloppyDisk 19th Apr 18, 11:32 AM
    • 638 Posts
    • 4,260 Thanks
    FloppyDisk
    Great news on the new job + extra pay for it! If you are self employed can you start to cover home costs as work expenses like phone/internet/heating?
    Any spare dosh for the pony fund?

    Mortgage Apr 18 £417,894
    Mortgage now --- £412,214
    BTL Mar 18 £162,857
    BTL now --- £162,143
    • Unicorn cottage
    • By Unicorn cottage 19th Apr 18, 8:15 PM
    • 133 Posts
    • 203 Thanks
    Unicorn cottage
    I love all your number crunching - will have to read a few times to get my head around it! Great work Hidden

    February OPs: £0.00

    Current (offset) balance: £103,054.42
    Month we'd be in to get to our current balance without OPs: November 2027 (+3 months)

    2018 Overpayments: £0.00
    2018 Interest Saved: £0.00

    Total Overpayments/Offsets: £68,918.78
    Total Interest Saved: £55,727.46

    Daily Interest: £6.80 (down £0.05)
    Monthly Interest: £210.25 (down £1.71)
    February 2017 Interest: £225.58 (down £15.33)
    February 2017 Daily Interest: £8.06 (down £1.25)

    House Bricks: 1

    Mortgage reduction: £2,386.02/£104,646 (2%) (Average: £795.34/mo)

    Edging closer to 5 figures!

    Net worth increase: £25,981/£150,000 (17%) + €3,709/€20,000 (18%)

    Making steady progress here.

    MFIT-4: £57,240/£90,000 (63%)

    Making steady progress here as well.

    Goals

    Personal
    • Health/exercise: Horse riding 4/4 Success!
    • Health/exercise: Zombies Run Week 4 Week 3

    Financial
    • Mortgage balance: £103,054.42/£103,055
    • Sell the house: Investigate rent-to-own option Done
    • 2018 Rent: !!!8364;7,500/!!!8364;7,500

    Career
    • Look for a new job In progress
    Originally posted by hiddenshadow
    Following the Martin mantra "Earn more, have less debt, improve credit worthiness"
    • hiddenshadow
    • By hiddenshadow 2nd May 18, 8:54 AM
    • 2,489 Posts
    • 11,434 Thanks
    hiddenshadow
    Great news on the new job + extra pay for it! If you are self employed can you start to cover home costs as work expenses like phone/internet/heating?
    Any spare dosh for the pony fund?
    Originally posted by FloppyDisk
    Should be able to expense 50% of phone/internet (sadly no heating, that would be lovely as our rental's insulation is horrid!). Think we can do 1/3 of our rent for the home office, though, as I work 99% from home and DH is 80+% from home, so that would be nice. (Not sure how that will work with us paying rent annually, but fingers crossed it doesn't throw accountants for a loop.)

    Unsure on pony front...not so much funding as time/health. I had to skip a few weeks of lessons due to illness pre-holiday, and the prospect of not being able to ride my own horse for weeks is daunting. I'm going to try out a lease this summer, I think, and see if riding more frequently helps on the health front. Long-term I may see if there are people willing to do a half-lease of my horse, which would still allow me to buy my own pony but not worry if it can't be ridden for a while. Plus help with its expenses. Win-win.
    MFW: £197,100 (2013) to £95,804 (Nov '18)
    2018 MFW #56: £4,806/£105,000 4% / MFiT-T4 #15: £59,661/£90,000 66%
    • hiddenshadow
    • By hiddenshadow 2nd May 18, 8:55 AM
    • 2,489 Posts
    • 11,434 Thanks
    hiddenshadow
    I love all your number crunching - will have to read a few times to get my head around it! Great work Hidden
    Originally posted by Unicorn cottage
    Thanks! I do find the numbers motivating..even if one or two look a bit uninspiring there's always some figure that makes me smile in any month.
    MFW: £197,100 (2013) to £95,804 (Nov '18)
    2018 MFW #56: £4,806/£105,000 4% / MFiT-T4 #15: £59,661/£90,000 66%
    • hiddenshadow
    • By hiddenshadow 2nd May 18, 8:58 AM
    • 2,489 Posts
    • 11,434 Thanks
    hiddenshadow
    April Analysis
    April OPs: £0.00

    Current (offset) balance: £101,443.08
    Month we’d be in to get to our current balance without OPs: December 2027 (+1 month)

    2018 Overpayments: £0.00
    2018 Interest Saved: £0.00

    Total Overpayments/Offsets: £68,918.78
    Total Interest Saved: £55,727.46

    Daily Interest: £6.70 (down £0.05)
    Monthly Interest: £200.88 (down £8.31)
    April 2017 Interest: £230.60 (down £29.72)
    April 2017 Daily Interest: £7.69 (down £0.99)

    House Bricks: 1

    Mortgage reduction: £3,202.61/£104,646 (3%) (Average: £800.65/mo)

    One month closer to 5 figures!

    Net worth increase: £31,778/£150,000 (21%) + €7,128/€20,000 (35%)

    Making good progress here as well.

    MFIT-4: £58,056/£90,000 (64%)
    MFW: £197,100 (2013) to £95,804 (Nov '18)
    2018 MFW #56: £4,806/£105,000 4% / MFiT-T4 #15: £59,661/£90,000 66%
    • shangaijimmy
    • By shangaijimmy 2nd May 18, 9:16 AM
    • 2,786 Posts
    • 13,965 Thanks
    shangaijimmy
    As always i Love your detail in figures.
    MFW: Turning June 2036 into March 2025... 45//120 Payments Challenge, Diary Reduction £48,224.61
    Aug 2009: £163,051 // Current: £87,653.30 // Avg Daily Interest £3.94
    MFiT-T4 #8 - 80.74% of £41,000
    • hiddenshadow
    • By hiddenshadow 2nd May 18, 9:21 AM
    • 2,489 Posts
    • 11,434 Thanks
    hiddenshadow
    - ...speaking of pension contributions, this is the second month that current job has been late paying mine into my pension provider. I've e-mailed them about it and their rather cavalier response was "the important part is it's being paid!" Well...yes, except that 1) it isn't being paid, clearly 2) it's also rather important when it's paid, as if it were my take-home pay that was being delayed by weeks there would be a major stink. Ah, well, more reason to be glad I'm leaving...and at least compound interest isn't really a concern when the delay is a matter of weeks. Still, it's the principle of the thing.
    Originally posted by hiddenshadow
    Pension contribution did eventually go through...now just waiting on the payment for my final (April) pay.

    - may get paid a "bonus" at work this month, if I finish this last project by the end of the month. That might mean working a bit during our US holiday, but as we have no plans I don't mind too much. This is still to be agreed, so I'm not counting on getting it at all, but it would be nice...would essentially turn a 2+ week gap in pay (when un-accrued holiday is accounted for in my final pay) into a slightly higher than normal pay month.
    Good news: this happened!

    Better news: bonus was 1k more than expected...guess they appreciated my extra work during my holiday (plus a pretty stress-free project launch)

    Annoying news: They applied the same pension treatment to my bonus as to my regular pay, plus it's all still done post-tax, which means my total take-home pay went down by over £200 for April. Ah well, Future Me will be glad of the extra few thousand put into the pension way back in 2018

    - we should finally be getting faster internet here!
    This finally happened! Still need to sort out billing for the faster internet, plus cancelling the not-that-fast satellite internet, but we have decent internets! (Though after spending almost 2 weeks on my parents' 300Mb/s connection 50Mb/s feels "slow" again, haha. First world problems.)

    I can't think of any goals for April at the moment, especially as we'll be on holiday for almost half of it, but I think if I can secure the work bonus and get myself ready to go for the new job, those would both be good things.
    Pretty much done on both fronts! Purchased a computer for new job and have that as setup as I can before starting, and have (finally) signed contracts for said job. (Not that I expected it to fall through but it's always nice to have things in writing.) Just waiting on limited company setup stuff to finish, but otherwise all systems go for next week.

    Also, we should hit 5 figures on the mortgage with June's payment! That's assuming I don't get itchy fingers if that work bonus happens and I have "spare" money to OP.
    Sadly this won't happen due to bonus/pension stuff. Only £645.26 to go until 5 figures, so that will definitely happen in June.

    Other notable things:

    - tenants now want to end their lease a month early, which is fine for us as it gives us more of the summer to sell the house and frees us from a month of letting agent's fees

    - that means we're already within our final 2 month window on the tenancy, so I've started enquiring about estate agents for selling the house. I'm sure they'll be horrible (see: all estate agents), but if they're a different sort of horrible from our current ones that'll be something new, I suppose?

    - current estate agents continue to be horrible (surprise!). I'm amazed at how much they'll nag you for non-time sensitive things that they care about (will you sell your house to the tenants? can the tenants move out in June instead of July?) but ignore you on time sensitive things that you care about (please have tenants provide a solar panel reading within 5 days of this date...please explain why you charge non-sensical fees and then don't look into it for months...still no answer on that one other than "shrug?")

    - spent waaaay too much money on holiday in the US. Granted, the majority of that was buying my work computer. Sadly I don't think I'll be able to expense it via the limited company as it didn't get setup until a week after I bought the computer, but I should only be "out of pocket" by about €400 once new job reimburses me the amount they said they'd cover, and that includes purchasing extended warranty + accessories. Could have gotten it in budget but had to go with an off-the-shelf model rather than a "custom" one due to delays on shipping.

    Other US spending:
    - $157.12 food (yum)
    - $309.62 yarn (unnecessary but pretty)
    - $215.65 clothing (mostly unnecessary but also at thrift stores ... best bargain was $11.91 total for a lambswool sweater made in the UK and an alpaca sweater made in Peru...should have been $15+ total but they gave us an extra discount because it was a Thursday...I do miss US thrift stores!)
    - sub-$200 for everything else, including petrol, entertainment, and a replacement pair of running shoes for me (sales person kept having me try on expensive shoes and then I ended up with the ones on clearance that I'd spotted walking in)

    All in all it was a nice holiday, except that I somehow ate gluten on Sunday (think it was cross-contamination from butter my little brother used for cooking), so was quite ill Sunday night and still don't feel amazing now. Travel back was OK, all things considered, though I think I'm still short on sleep by about 12 hours.

    Dogs were also ill while we were gone. Dog sitter blames the raw food setting off their tummies, but they were on it for a few days before we left and were fine, so I'm thinking they just didn't like the disruption in their routine. Annoyingly dog sitting can no longer watch them next week (her dog had surgery and needs a quiet environment), so now we're scrambling a bit to find someplace to put them. I'm sure we'll figure something out, but it's not a very restful re-entry into regular home life! Cat's quite happy to see us, though, she wouldn't leave us alone last night (and not just because she wanted meals on a proper schedule!).
    MFW: £197,100 (2013) to £95,804 (Nov '18)
    2018 MFW #56: £4,806/£105,000 4% / MFiT-T4 #15: £59,661/£90,000 66%
    • hiddenshadow
    • By hiddenshadow 2nd May 18, 4:15 PM
    • 2,489 Posts
    • 11,434 Thanks
    hiddenshadow
    2 phone calls in and I'm already hating house-selling. One person was quite nice on the phone, also has quite low fees, we'll see if they're any good. Other person hasn't clarified what their fees are and kept asking about extra services we might want (shopping for a new house, solicitor conveyancing, etc.) All we want to do is sell the one house we have!

    Other annoyances for today:
    - horrible estate agents responded to my formal complaint by vaguely explaining things in a not-helpful way. No idea if they're actually treating it as a formal complaint (which would mean we could refer to ombudsman eventually...though really we're quibbling over a £17.28 fee from estate agents + withheld tax that HMRC has, so who knows how to get that back)

    - horrible estate agents are at least sounding helpful re: arranging valuations and (shockingly) have not tried to suggest that they could manage the sale of our property (I'll move back in and do the viewings myself before that happens!)

    - our neighbours have found our clingy cat who went missing in January, his body has been by the side of the house for quite some time apparently

    - super tired and can't think straight...love jet lag! Nowhere close to bedtime yet, either, plus I'm not sleepy (hope that changes by bedtime)
    MFW: £197,100 (2013) to £95,804 (Nov '18)
    2018 MFW #56: £4,806/£105,000 4% / MFiT-T4 #15: £59,661/£90,000 66%
    • hiddenshadow
    • By hiddenshadow 3rd May 18, 4:05 PM
    • 2,489 Posts
    • 11,434 Thanks
    hiddenshadow
    May Goals
    Let's see how these go...

    House
    • Arrange estate agent
    • Arrange solicitors - should be able to use the ones who did the conveyancing for our purchase
    • Get house on market

    Financial
    • 2018 Rent: €9,800/€10,950

    Work
    • Set up limited company
    • Start new job!
    • Figure out Irish income situation
    MFW: £197,100 (2013) to £95,804 (Nov '18)
    2018 MFW #56: £4,806/£105,000 4% / MFiT-T4 #15: £59,661/£90,000 66%
    • hiddenshadow
    • By hiddenshadow 16th May 18, 11:57 AM
    • 2,489 Posts
    • 11,434 Thanks
    hiddenshadow
    May Goals Update
    House
    • Arrange estate agent - have found one who seems decent, fingers crossed that's true!
    • Arrange solicitors - will be getting a discount as a returning customer
    • Get house on market - still to do

    Financial
    • 2018 Rent: €9,800/€10,950 Will be catching up on this next month thanks to my April pay snafu...take-home pay should go up once we're all setup being paid in €

    Work
    • Set up limited company - in progress, just waiting on paperwork to be processed
    • Start new job! - success so far! Only on week 2, but I think I'm bring productive/useful so far
    • Figure out Irish income situation - still need to get DH's company to pull their finger out on switching him to not be paid via UK PAYE anymore
    MFW: £197,100 (2013) to £95,804 (Nov '18)
    2018 MFW #56: £4,806/£105,000 4% / MFiT-T4 #15: £59,661/£90,000 66%
    • hiddenshadow
    • By hiddenshadow 1st Jun 18, 12:11 PM
    • 2,489 Posts
    • 11,434 Thanks
    hiddenshadow
    May Analysis
    May OPs: £0.00

    Current (offset) balance: £100,645.25
    Month we’d be in to get to our current balance without OPs: January 2028 (+1 month)

    2018 Overpayments: £0.00
    2018 Interest Saved: £0.00

    Total Overpayments/Offsets: £68,918.78
    Total Interest Saved: £55,727.46

    Daily Interest: £6.64 (down £0.06)
    Monthly Interest: £205.92 (up £5.04)
    May 2017 Interest: £232.62 (down £26.70)
    May 2017 Daily Interest: £7.50 (down £0.86)

    House Bricks: 1

    Mortgage reduction: £4,000.44/£104,646 (3%) (Average: £800.09/mo)

    One month closer to 5 figures!

    Net worth increase: £38,333/£150,000 (25%) + €5,429/€20,000 (27%)

    Making steady progress here as well. Bit slow on the Euro side this month due to lack of new job income yet.

    MFIT-4: £58,854/£90,000 (65%)
    MFW: £197,100 (2013) to £95,804 (Nov '18)
    2018 MFW #56: £4,806/£105,000 4% / MFiT-T4 #15: £59,661/£90,000 66%
    • hiddenshadow
    • By hiddenshadow 1st Jun 18, 12:13 PM
    • 2,489 Posts
    • 11,434 Thanks
    hiddenshadow
    Drumroll Please....
    Current mortgage balance as of June 1:

    £99,838.99



    I've been tempted all year to throw extra at the mortgage to get to 5 figures, but with the aim to sell in the next couple months it seemed a bit silly. Got there in the end via slow-and-steady regular payments approach.

    Will be able to luxuriate in 5-figures balance for a few weeks until the house sells, then figure out what the plan is on the Irish house side.
    MFW: £197,100 (2013) to £95,804 (Nov '18)
    2018 MFW #56: £4,806/£105,000 4% / MFiT-T4 #15: £59,661/£90,000 66%
    • lippy1923
    • By lippy1923 1st Jun 18, 12:21 PM
    • 1,258 Posts
    • 3,508 Thanks
    lippy1923
    Congrats on all the progress and the 5 figures! Its a great feeling getting there.


    Good luck with everything Irish
    Total Mortgage OP £27,500
    House Value £285,000 Mortgage £76,285
    Emergency Fund £28,150

    • hiddenshadow
    • By hiddenshadow 1st Jun 18, 3:00 PM
    • 2,489 Posts
    • 11,434 Thanks
    hiddenshadow
    Thanks, Lippy!
    MFW: £197,100 (2013) to £95,804 (Nov '18)
    2018 MFW #56: £4,806/£105,000 4% / MFiT-T4 #15: £59,661/£90,000 66%
    • lippy1923
    • By lippy1923 10th Nov 18, 1:27 PM
    • 1,258 Posts
    • 3,508 Thanks
    lippy1923
    Hello
    Just checking in to see how your getting on. Hope things are going well.
    Total Mortgage OP £27,500
    House Value £285,000 Mortgage £76,285
    Emergency Fund £28,150

    • hiddenshadow
    • By hiddenshadow 1st Dec 18, 2:43 PM
    • 2,489 Posts
    • 11,434 Thanks
    hiddenshadow
    Thanks lippy, that's sweet of you to check in when I've been MIA for so long.

    To be honest, I've been delaying posting because I wanted to triumphantly say we'd sold our house, were debt-free, and (maybe) arranged to buy a new house!

    However...

    It took ages to get an offer on our house, and then weeks before exchanging contract (after weeks of delay) our buyer pulled out.

    So we're back to square one. With no compensation for the weeks off the market, or whatever fee(s) our solicitor may have charged for the work already done. (In the US the buyer puts down a small amount of money, usually $1,000-2,000, which they forfeit if they pull out of the sale for no good reason. It helps prevent people from just putting in loads of silly offers at once and seeing which one looks best at the end of the day.)

    Ah well, it's only money at the end of the day. Fingers crossed we can get another offer going soon, though I'm now preparing myself for February thanks to the holiday slump in activity.

    We've agreed with our landlord to check-in on what we want to do at the end of our lease (July 2019) in May, so that still gives us some time to sort things out. Plan A is still to find someplace to buy, but Plan B is likely to move elsewhere (we like this house well enough, but could probably find a cheaper/nicer house as we wouldn't just be going blind off internet listings). It would be annoying to rent for another year, but no major hassle in the grand scheme of things.
    MFW: £197,100 (2013) to £95,804 (Nov '18)
    2018 MFW #56: £4,806/£105,000 4% / MFiT-T4 #15: £59,661/£90,000 66%
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