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  • FIRST POST
    • spendinglikemad
    • By spendinglikemad 8th Oct 15, 3:05 PM
    • 287Posts
    • 1,636Thanks
    spendinglikemad
    OK lets do this.....24 payments to go
    • #1
    • 8th Oct 15, 3:05 PM
    OK lets do this.....24 payments to go 8th Oct 15 at 3:05 PM
    Been lurking on here for a while getting lots of hints and decided now is the time to get posting to keep me motivated so I hope to get on here regularly and update and read all about your journeys.

    Background to posting is we recently found our dream house and really started to look at mortgages in detail with our bank and although we haven't been overpaying for the last year (something always got in the way!!) our bank manager could see we had overpaid around 31k since we took out our current mortgage. Anyway we are still undecided about moving house and if we did we would have a much bigger mortgage so I said to hubs that we should start paying that amount off our mortgage now to see how we would cope!!

    So I have worked out the payments we need to pay to get this paid off in 2 years and it should be more than doable.....should be anyway....! Trouble is my hubs thinks we should hedge our bets and save half and pay off half - so that we have some savings as well as overpayments - I disagree and think its better to pay off debts first - then save..... his thinking is if we do want to move house we have more savings in the pot. Even if we don't move house we may want to help kids through uni.....

    So the plan is to spend as little as possible on luxuries and so I have already swapped to Aldi shopping and tracking every little bit of spending we can. There are some unavoidable costs though for schools (trips, uniform, lunches, music lessons) but will be doing our best!

    The only thing I need to work out is how to make sure the right mortgage payments get paid to the right sub accounts but thats easily sorted and will be good to see it being paid down.

    Look forward to getting to know you all
    Family of 4 plus cat & pup!
Page 4
    • spendinglikemad
    • By spendinglikemad 4th Oct 17, 10:19 AM
    • 287 Posts
    • 1,636 Thanks
    spendinglikemad
    Try update from me:
    Feeling yuck - had flu jab yesterday (at work so saved a few !) so working at home today and cleared my diary to have a quiet day, always feel a little cold/fluey after the jab.
    Managing the outgoings this month v closely i.e taking lunches to work (actually prefer!) but DS (16) decided he would spend loads yesterday (its his first sixth form year so the novelty of more freedom - so made it clear last night that he has a budget of spend - we load it onto the school system) and he can't go over it (bought him some bars to take to school if he is peckish.
    Apart from that I need to do a solar reading and at least that will be some money into the bank as the Emergency Fund is low!

    We really need to get our internal doors done so we can finish off the living room split and it has to be bespoke as the room is sooo big) so I am hoping we can get that done pre xmas

    Other work to do is tree pruning (can wait till next year !) new bed I think is essential as both dh and I waking up with joint aches

    Ah well - always something to spend the money on!

    SLM
    Family of 4 plus cat & pup!
    • Sundaysgirl
    • By Sundaysgirl 4th Oct 17, 10:56 AM
    • 1,096 Posts
    • 6,322 Thanks
    Sundaysgirl
    Thought it was about time to do an update as lots has changed - and I need to change the thread title!!!!

    So, after being mortgage neutral earlier this year we decided to go ahead with our dream house purchase. We moved in in April and have spent some time and money doing the priority works required (some remedial building/electrics/plumbing works) really to get the house more energy efficient for winter (and mend a few leaks!)

    So we moved from a 1980's 4 bed detached - dbl garage and tiny garden - on a small cul-de-sac to now owning a 1920's 6 bed, multi reception room, enormous garden and garage on a beautiful old street and backs onto golf course so its lovely and quiet and we absolutely love it.

    So, where are we at with mortgage you may ask! - it's certainly eye watering at the moment - I can't actually own up to the total amount (haven't had a statement!!! though we are in the 400ks plus BTL on our other property at 140k ) our plan was to get the essential works done with the cash we had saved and then when our previous house sells we can pay off 10% per year and get other things done. So we just need to be very patient right now.

    So we are trying to save/not spend as much as possible and though not overpaying this year - we will when our previous house sells and then I want to start chipping away at the elephant.

    Loving reading everyones posts.....and I will try to do a new SoA - at least coming on here will keep me focussed

    SLM
    Originally posted by spendinglikemad
    How exciting - congrats on the move! I'm sure you'll be chipping away at the hefty mortgage in no time!
    MFW 2017 #123 2018: 1,852.64/39,200 (4.7%)
    • spendinglikemad
    • By spendinglikemad 4th Oct 17, 11:19 AM
    • 287 Posts
    • 1,636 Thanks
    spendinglikemad
    How exciting - congrats on the move! I'm sure you'll be chipping away at the hefty mortgage in no time!
    Originally posted by Sundaysgirl
    I hope so - coming on here really focusses my mind just to start small every month!!

    SLM
    Family of 4 plus cat & pup!
    • spendinglikemad
    • By spendinglikemad 16th Oct 17, 3:51 PM
    • 287 Posts
    • 1,636 Thanks
    spendinglikemad
    Not much has changed here since last update. Agreed to get the internal doors done, which is last part of our savings to renovate the house (a big room split into 2 which was how it was originally)
    We we are still trying to sell our old property I was so excited to get an offer last week only to have it removed when the buyers couldn't get the mortgage they wanted. As soon as that place is sold we can pay off the first 10% max on this mortgage and get other things done - and it was also mean not paying extra council tax and insurance so we will be able to make some O/P and do some more renovations.
    Apart from that its trying not to spend on items apart from essentials (food/petrol/school)
    We also really want a dog!! Cant commit to that until we have sold so eagerly waiting!

    SLM
    Family of 4 plus cat & pup!
    • Sundaysgirl
    • By Sundaysgirl 16th Oct 17, 4:29 PM
    • 1,096 Posts
    • 6,322 Thanks
    Sundaysgirl
    Good luck selling!


    After years of longing we finally got a dog last November (two weeks after moving into our new home - not the best timing but there never is a good time IMO) - best thing we ever did!!
    MFW 2017 #123 2018: 1,852.64/39,200 (4.7%)
    • spendinglikemad
    • By spendinglikemad 17th Oct 17, 6:36 PM
    • 287 Posts
    • 1,636 Thanks
    spendinglikemad
    Good luck selling!


    After years of longing we finally got a dog last November (two weeks after moving into our new home - not the best timing but there never is a good time IMO) - best thing we ever did!!
    Originally posted by Sundaysgirl
    Aw thats good to know, I may just satisfy myself with reading up on the do's and don'ts of having a puppy to prepare us!

    SLM
    Family of 4 plus cat & pup!
    • spendinglikemad
    • By spendinglikemad 1st Feb 18, 2:34 PM
    • 287 Posts
    • 1,636 Thanks
    spendinglikemad
    So, things are progressing here, not on the mortgage O/P yet but (fingers crossed) soon to complete on our house sale and then we will be back to one mortgage (and one set of bills albeit smaller ones) to pay and then we can concentrate on our O/P plan.

    The options are to O/P 10% immediately off the elephant mortgage - bringing it to hopefully under 400k and then use the remaining money to renovate, build, furnish the house (there is a list of jobs to do....some boring essential ones like redo garage roof as its leaking & some nice ones like re-do 2nd floor bedrooms and hike kids up there - furniture needed as they are currently languishing in what will be guest rooms so in no rush to move!!! ) Except any time guest over to stay its a big tidy up and move!! Other jobs are a re-vamp of current dining room and sun lounge and thinking of moving the kitchen so I need to get some people out to quote and give me ideas (which I can then use for my own design!!) my only worry is whether the budget will allow but may just have to do these jobs gradually with bonus/share payouts

    Our current big mortgage is with NW and I need to find out how to 'see' the balance (with my old mortgage it was on my accounts list so I could check it whenever) so I guess thats the first job and find out where we are and decide how much of house sale to throw at the mortgage this year...

    Really enjoying reading everyones threads, my MSE saving each week is to make a soup after sunday roast and it always goes down well- we are all really enjoying it and this week it is from roasted duck so will be interesting.....smells good though.

    Builder/joiner finished for the day so going to go and enjoy looking at my new doors!!. Doggo wise we are on a wait list for some lab retriever pups in Feb so will see and all being well put a deposit and reserve one in March when we have had a visit

    SLM
    Family of 4 plus cat & pup!
    • spendinglikemad
    • By spendinglikemad 25th Apr 18, 3:59 PM
    • 287 Posts
    • 1,636 Thanks
    spendinglikemad
    OK so now we have a new addition of pup to the family and completed on our old house sale just before Easter - phew!!!

    Finances all sorted now so we have re-paid parents for their kind loan of extra stamp duty (just need to receive it back from HMRC now!! (online application done last month so may hear anytime soon fingers crossed)

    New finances sheet being sorted now as no extra insurance, council tax, mortgage or utilities - so we can pay a little more into kids savings pots (ISAs) they have around 12 k each which isn't massive but will be for house deposits in future so every little helps

    Was really straightforward to O/P on our mortgage so set-up a regular O/P of 1,000 per month for now (we were going to pay 10% off but waiting for building quotes/architect plans etc before we effectively spent that money!!)

    Currently just trying to get as much as possible from our savings (pot) so filled up both S123 accounts to the max (40 k plus a bit more as SO and DD go in/out) regular saver 200 per month at 5% and 400 at 3% didn't want the rest of the money sitting idle so bought 50k of premium bonds in the hope that between now and needing the money we may have some winnings!! we have been lucky recently as DD 'won' on the grand national and I easily claimed back for a delayed flight in 2012 for 4 of us (1,359 - get in!!!) thanks MSE !!!!

    Dreaming of agent million visiting me and being able to pack in work, pay of mortgage and just enjoy a life at home!!! Loving our new pup, we have had her 4 weeks now and she has changed our lives for the better - even working at home she is lay on my feet warming them as I type!!! (cats life is a bit worse for wear but she will come round!!) At the moment I just yearn for weekends to catch up on garden/allotment/piano and family - work gets in the way for sure!!!!!!

    To do list:
    Cash in kids Premium bond (old) and buy more new numbers (GPs gifted them 1,500 each)
    Get veg seeds planted
    Decide what to plant at allotment as don't get there as often now and got a veg bed in garden as well
    Get quotes for loft rooms - insulating and plastering and w/c adding - then teenagers can have those rooms and free up spare rooms.
    New bed - essential for us - sick of waking up tired and achy and want a king sized bed for when the dog snuggles up (early morning after 5-6 am toilet wake wake!!) and can then get DS out of the best room in house overlooking back garden!!! (it doesn't have the best en-suite but we can change that!!)

    Thats me for now anyway!!!

    SLM
    Family of 4 plus cat & pup!
    • FloppyDisk
    • By FloppyDisk 27th Apr 18, 3:15 PM
    • 629 Posts
    • 4,227 Thanks
    FloppyDisk
    Catching up with your diary SLM, can I ask why you decided to sell the BTL? I'm very aware that we have 3 years to do the same to claim back the extra stamp duty we had to pay, but the outlay is done now so it feels worthwhile to keep it.
    I would definitely recommend a king size, we got one in the new house and although it's only a tiny bit bigger we seem to have so much more space!

    Mortgage- 415,836
    BTL- 162,782

    • spendinglikemad
    • By spendinglikemad 27th Apr 18, 4:06 PM
    • 287 Posts
    • 1,636 Thanks
    spendinglikemad
    Well the only reason we ended up with our BTL was to finance our forever home, our old house was mortgage free and for sale and our dream house that were waiting for having been on the market at the EA went up for auction so we had to act fast and our only way to finance was to do a BTL on our old house. We really didn't want tenants in though, although it would have been worth it I just didn't want the extra stress.

    Off bed & toilet shopping at the weekend. Just had a lovely walk with our new pup and she is snoozing on my feet!!!

    SLM
    Family of 4 plus cat & pup!
    • spendinglikemad
    • By spendinglikemad 3rd May 18, 9:19 AM
    • 287 Posts
    • 1,636 Thanks
    spendinglikemad
    Stamp duty cheque received this week and promptly paid in - only took about a month to receive that so really pleased.
    O/P done for 1,000 so will need to log into mortgage and check that went in OK - its set as a regular monthly O/P at the moment until we have an estimate on building costs for our extension (well replacing 40 year old single pane sun lounge and utility) and replastering and insulating rooms in loft to have as kids rooms

    Didn't get the bed shopping done - really need a new bed as waking up sore but it will have to wait. W/c and sink chosen though so one less thing to do but took an age of working out - who knew there were so many different types of sink and toilet!!!

    Expensive month this month with pet insurance just gone out for the year and house insurance and starting dog training classes so thats extra 60

    SLM
    Family of 4 plus cat & pup!
    • spendinglikemad
    • By spendinglikemad 24th May 18, 1:22 PM
    • 287 Posts
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    spendinglikemad
    Yes first O/P went in OK - got a letter from bank to pay how much O/P we can make for the rest of the year. There are going to be lots of letters if they send us a letter every time we make an O/P, at the moment its set up to pay an extra 1000 each month until we work out what the house extension costs are going to be. I fear they will use the rest of our savings currently sat in premium bonds in the hope the numbers come up before we need to cash out!!!

    So, bank holiday is coming up and we have next week booked off so thats 9 days of which we can get the house/garden/allotment sorted - puppy training is a lot of work and the heel work is proving the hardest as we are not enjoying our walks with her to the maximum yet. She wants to be everywhere and the constant distraction of other dogs, people, leaves blowing means she doesn't listen to a word when we are out of the house 90% of the time!!!

    Sigh!! My mum is coming over and so I need to arrange stuff to do so that we are not sat drinking tea for 2 days and get something fruitful done (thinking take deck chairs to allotment and so she can chat to me whilst I do the essentials and get the allotment planted up, weeded, grass cut) - I find I am not getting time to go to the allotment but want to keep it going I just need to put in the right stuff that doesn't need tending as much (so far we have: raspberries, strawberries, gooseberries, plum and damson trees that take up half of the space, thinking to get sweetcorn (mini and standard in) as that doesn't need a lot of attention plus get the pumpkins in there (reminds me to get butternut squash seeds on ebay). Veg patch at home has berries, asparagus (recently moved) some spuds, carrots, onions and purple sprouting so will see what else I can get in (hopefully pak choi, kale and fennel will come through as well as beans, peas - hopefully having these in the garden will mean that we can pick daily as last years rasps were amazing - anyway thats the veggies, also growing some flowers from seed to avoid a big spend at the garden centre and get the borders looking nice, must learn how to take cuttings!!

    Other jobs to really get done:
    Ebay ebay ebay - say no more
    Declutter utility of old shoes and old pots/pans that came with us when we moved and never used in over 1 year
    Deep clean bathrooms (lower priority to be done on a cooler day!!)
    Go to extra puppy training hour just for heel work 3 Sun morning probably a good idea!

    Hubby was thinking about getting his parents over to help with some of garden jobs but it comes with extra work for me (getting a room ready (more cleaning....)) and then the endless cycle of meals which they are accustomed to, to be honest I would rather just get on with the list of stuff we have to do cos its not a rest for me, for example I wouldn't feel comfortable to wander down in my dressing gown after a bath/shower later and be able to chill and watch some TV or read/glass wine but maybe I should just do what I want ......

    We had architect round this week to discuss his first draft drawings and made some changes, I am kind of enjoying the planning side at least in terms of what we want to do to part of the house downstairs layout although whether it will work out remains to be seen and maybe I am fooling myself looking at nice open flow kitchens and utility (mine is currently a dumping ground) I keep showing hubby what my walk in pantry is meant to look like but I don't think he really "gets" what I want so I need to keep re-iterating!!

    SLM
    Family of 4 plus cat & pup!
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