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  • FIRST POST
    • FloppyDisk
    • By FloppyDisk 21st Dec 15, 2:35 PM
    • 648Posts
    • 4,313Thanks
    FloppyDisk
    From Flat to Farmhouse
    • #1
    • 21st Dec 15, 2:35 PM
    From Flat to Farmhouse 21st Dec 15 at 2:35 PM
    Hello everyone, I am hoping some of you might recognise my name and no, my mission hasn’t changed, I still have lofty ambitions of upgrading from my flat to something a little more spacious.

    So where were we? Oh yes, paying 400 a month in interest on my mortgage! I need to start 2016 with a renewed vigour towards my financial management. Whilst this won’t be wholey directed at the mortgage, I have found the community of MFWers so helpful in getting the balance right. Despite having the all-important spreadsheet, I have gotten a bit lost with my finances with the poor interest rates and having to use current accounts for savings, so I need to do a proper audit.

    As old friends will know, I have the slight disadvantage of being owned by an event horse who insists on having the best of everything. I am also severely hampered by my inability to cook and tend to fritter money away buying lunches.

    It is lovely to be back and focused on security, I have missed you all!
    Last edited by FloppyDisk; 02-01-2018 at 12:07 PM.
Page 11
    • smallholdingsister
    • By smallholdingsister 1st Mar 18, 6:20 PM
    • 3,601 Posts
    • 30,239 Thanks
    smallholdingsister
    I am full on looking for one.
    • FloppyDisk
    • By FloppyDisk 5th Mar 18, 11:26 AM
    • 648 Posts
    • 4,313 Thanks
    FloppyDisk
    Oooooh, a full on horse! Will it be a share with kiddo?

    I'm sure I will get itchy feet now it is lighter, but this winter horse-free has been quite a piece of cake!

    Waiting for the vendors to get back to us with responses to enquiries, then we are all ready to exchange. We had said we wanted to move before the end of next month, so I'm sure everyone feels like that is plenty of time, but when that involves giving a month's notice on a certain day of the month it makes it a bit more tricky.

    Mortgage Apr 18 417,894 BTL Mar 18 162,857
    Mortgage now --- 401,208 BTL now -- 161,891
    • smallholdingsister
    • By smallholdingsister 7th Mar 18, 3:44 AM
    • 3,601 Posts
    • 30,239 Thanks
    smallholdingsister
    Yes a share with Kiddo.

    Going to see one Sunday.

    IME you never get to move quite when you want.
    • FloppyDisk
    • By FloppyDisk 8th Mar 18, 7:48 AM
    • 648 Posts
    • 4,313 Thanks
    FloppyDisk
    Fingers crossed for Sunday! Are you avoiding TBs now? I'm attempting to do heaps of core work so if I do get another I will hopefully be harder to buck off.

    If we can exchange in the next 2 weeks we could time it so we don't pay any extra rent.
    Last edited by FloppyDisk; 09-03-2018 at 7:39 AM.

    Mortgage Apr 18 417,894 BTL Mar 18 162,857
    Mortgage now --- 401,208 BTL now -- 161,891
    • FloppyDisk
    • By FloppyDisk 19th Apr 18, 11:09 AM
    • 648 Posts
    • 4,313 Thanks
    FloppyDisk
    Just had an email confirming that our mortgage has arrived with the solicitor - We are going to move into our dream house tomorrow

    Mortgage Apr 18 417,894 BTL Mar 18 162,857
    Mortgage now --- 401,208 BTL now -- 161,891
    • Elephantchunks
    • By Elephantchunks 19th Apr 18, 9:39 PM
    • 153 Posts
    • 749 Thanks
    Elephantchunks
    Fab news! Hope the move goes smoothly for you both. Enjoy!
    Live a lot. Love a few. Always paddle your own canoe.
    Electrics re-wire savings
    Oct - May - 800/3000. June 1389/3000
    • FloppyDisk
    • By FloppyDisk 24th Apr 18, 8:26 AM
    • 648 Posts
    • 4,313 Thanks
    FloppyDisk
    We are in! It's lovely, and there are horses next door - possible livery maybe???

    Only trouble is that it is enormous and all of our furniture is looking a bit dwarfed, so we need to acquire lots of new 'stuff' but we are both fans of reclamation yards and charity shops for that sort of thing. To the other end of the extreme, we want to do lots of re-jigging to move the kitchen and add in another bedroom, and longer term - an en-suite. Over paying the mortgage is not top priority but I will try to throw some Tilly Tidies that way to make some progress. We have a few weeks before our first payment so it will be a big one when it comes.

    Mortgage Apr 18 417,894 BTL Mar 18 162,857
    Mortgage now --- 401,208 BTL now -- 161,891
    • FloppyDisk
    • By FloppyDisk 28th May 19, 5:49 PM
    • 648 Posts
    • 4,313 Thanks
    FloppyDisk
    We are still alive! I did start a new thread for the new house assuming we would pay that one off and stop being daft house collectors but we have come to the realisation that this house doesn't come quite close enough to a farmhouse and in 5-10 years time we really would like to have some land (for me) and workshops (for OH). Not sure whether to be daunted or excited by that prospect but we will see where we go!

    For now we are ignoring-ish the mortgage and only throwing tilly tidies and a monthly direct debit round up at it, all other spare cash is going in our savings pot for the new kitchen which we hope to have finished by Christmas in time for a new valuation and remortgage next year. That will probably see us using up all our savings which makes me hugely uncomfortable, so I am hoping I can spend the next 6 months penny pinching to give us a safety net.

    That said, there is indeed a spare stable next door

    Mortgage Apr 18 417,894 BTL Mar 18 162,857
    Mortgage now --- 401,208 BTL now -- 161,891
    • FloppyDisk
    • By FloppyDisk 14th Jun 19, 9:25 AM
    • 648 Posts
    • 4,313 Thanks
    FloppyDisk
    Mid-month update - I have closed my Tesco bank account now that the interest has dropped and moved that over to the joint savings account with Marcus.
    This month's extras include managing to secure an Airbnb booking in August for some guests that stayed last year plus their friend so doubling the rate to use the other spare room.
    Looking ahead to the end of the year, if we used every penny on the kitchen works, we would have -592.92 in the joint accounts, which is fine as we can save that within a month and in reality we will probably pop much of it on a 0% CC anyway (and still have a small backup in my account). But obviously the aim is to try to minimise that so I'm on a mission to rattle some pennies out of the sofa.

    Mortgage Apr 18 417,894 BTL Mar 18 162,857
    Mortgage now --- 401,208 BTL now -- 161,891
    • FloppyDisk
    • By FloppyDisk 25th Jun 19, 4:11 PM
    • 648 Posts
    • 4,313 Thanks
    FloppyDisk
    Just managed to save the airbnb booking from disaster after t'otherhalf tried to plan the biggest chunk of kitchen re-work in the 4 days before they arrive.
    Other than that mild drama, the month has flown by with not much news. I have fixed the leccy bills for the next 2 years and now need to sort out a credit card to start piling day to day spends on.
    Had a blinder of a riding lesson at the weekend on a crazy borrowed horse which has really given me a confidence boost that although I'm not out competing I am still improving - must keep hiding some horse savings away from the kitchen pot!

    Mortgage Apr 18 417,894 BTL Mar 18 162,857
    Mortgage now --- 401,208 BTL now -- 161,891
    • hiddenshadow
    • By hiddenshadow 1st Jul 19, 9:15 AM
    • 2,520 Posts
    • 11,530 Thanks
    hiddenshadow
    I have horse savings tucked away, despite probably needing house renovation & car savings pots.
    Mortgage Free! 09/04/2019
    • Watty1
    • By Watty1 7th Jul 19, 10:55 AM
    • 3,172 Posts
    • 22,112 Thanks
    Watty1
    Oh my goodness you've moved. Can't you shabby chic rennovate the kitchen then snaffle the lot for a horse pot? writes the owner of 3 horses and no cash
    Mortgage at start of diary Sept 2013: 132,995 Aug 2015 0
    Overpaid next mortgage. 79,491 down to 27152
    Changing focus for now
    • FloppyDisk
    • By FloppyDisk 12th Jul 19, 7:34 PM
    • 648 Posts
    • 4,313 Thanks
    FloppyDisk
    If only! The kitchen isn't a desperate need but it will improve the house so much and I do have free rein (ha) to ride friends horses so, although not the same as my own, actually buying one would be a bit indulgent at the moment. And I'm afraid that producing some small people probably comes higher up the pecking order too so a Floppy horse is very much a pipe dream, much like the Farm House that I am clinging onto!

    Mortgage Apr 18 417,894 BTL Mar 18 162,857
    Mortgage now --- 401,208 BTL now -- 161,891
    • Watty1
    • By Watty1 12th Jul 19, 9:31 PM
    • 3,172 Posts
    • 22,112 Thanks
    Watty1
    ah well small people need lead rein ponies.... err ... then second ponies and natives might make a nice mum/small person share .... just putting it out there
    Mortgage at start of diary Sept 2013: 132,995 Aug 2015 0
    Overpaid next mortgage. 79,491 down to 27152
    Changing focus for now
    • FloppyDisk
    • By FloppyDisk 13th Jul 19, 8:05 AM
    • 648 Posts
    • 4,313 Thanks
    FloppyDisk
    I know, I known hence the need to move on to somewhere with our own land! Probably going to need at least a million squid or we leave all our friends and head towards Wales or oop north.

    I was quite struck by something our MD said in a presentation a little while ago, and that was that you can't save your way to prosperity. There's always a few posts around here questioning whether being MF is the right path, and the general answer is of course to spread across pensions and ISAs but paying off the debt has such a psychological boost and chimes with my low risk nature!

    OH now has plans to start up his own business which sets off all my alarms but could be just what we need so I am determined not to meddle and try to de-risk everything but let him focus on the opportunity while I focus on the low risk property side of things. Theres plenty to keep me busy, the flat tenants have been there nearly 2 years, the lease still needs renewing and it needs a new bathroom still. I say need, but it was snapped up when it went on the rent market so maybe it doesn't need it and I am just being a bit romantic about my old home. Maybe it does need because I could increase the rent - so I really need to do some valuations and work out how long it will take to recoup the cost.

    Anyway, the plan is to have our Farm House in 10 years time. I'll set myself a pie in the sky target to contribute 600k in equity and OH can sort out the rest by making sure he can get a (short??) mortgage for the rest. And somehow fit in kids and ponies and dogs along the way???? EASY.

    Mortgage Apr 18 417,894 BTL Mar 18 162,857
    Mortgage now --- 401,208 BTL now -- 161,891
    • Watty1
    • By Watty1 13th Jul 19, 8:53 AM
    • 3,172 Posts
    • 22,112 Thanks
    Watty1
    i love a plan. I'm thinking about that comment you can't save your way to prosperity and in a way I think you can you just have to know where you are going early on. If 30 years ago I had thought about FIRE I could have kept the little town house (massive equity) and not played the property game. Sure I ended up with a large house with land etc but had I kept that house and still done the same jobs I could have stopped work around about 35 ....my outgoings would have been so much lower if I had kept the same life but just let the income grow. I even started a pension plan in my early 20s but abandoned it for spending the money I think I could have saved my way not perhaps into prosperity of the super rich but still into a position where I would not have needed to work. I only needed to work really when we bought this place and got the horses
    Mortgage at start of diary Sept 2013: 132,995 Aug 2015 0
    Overpaid next mortgage. 79,491 down to 27152
    Changing focus for now
    • FloppyDisk
    • By FloppyDisk 13th Jul 19, 9:56 AM
    • 648 Posts
    • 4,313 Thanks
    FloppyDisk
    Yes horses do re-define the meaning of prosperity don't they? We could have moved into the flat and be very close to being mortgage free by now, but we wouldn't be able to have our lovely daft dog.

    Mortgage Apr 18 417,894 BTL Mar 18 162,857
    Mortgage now --- 401,208 BTL now -- 161,891
    • Savingtomove
    • By Savingtomove 14th Jul 19, 6:42 PM
    • 9 Posts
    • 13 Thanks
    Savingtomove
    Hi Floppy disk!

    I have just come across your diary and am subscribing as you have very similar goals to me! We are currently in a family home and hoping to move.somehwere with land in two years time. I have been horseless for 10 years but hoping to change this once we move despite 2 little people!!

    I look forward.to seeing how you get on!!
    • FloppyDisk
    • By FloppyDisk 15th Jul 19, 6:14 AM
    • 648 Posts
    • 4,313 Thanks
    FloppyDisk
    Hello savingtomove! Nice to meet you, what are your moving timescales? Have they been 10 totally horse free years or have you got anything you can steal from friends?

    I guess I will have to keep this diary up to date now!
    Not much to report except an annoying vet bill for the dog making a bit of a dent in things. All good now, I paid up and didn't think about using the insurance as it was only just over 100 but maybe I ought to? Meh.
    I am all set for the week with meals planned and a full fridge, speaking of which we have 2 fridges, both pretty tiny, but I have managed to squeeze everything into one rather than power both. Probably won't notice it at all on the bills but worth a try.

    Mortgage Apr 18 417,894 BTL Mar 18 162,857
    Mortgage now --- 401,208 BTL now -- 161,891
    • savingholmes
    • By savingholmes 15th Jul 19, 7:52 AM
    • 9,803 Posts
    • 19,496 Thanks
    savingholmes
    Subscribed - good luck on your journey
    Target DFD Mar 21 Nov 20 38840 @ 13/7/19 27,512 @0%
    Target MFD July 2031 March 28 owe 145551 @13/7/19 145,282 @1.7%
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