October 08 - Ooh fancy that!

[CantSleepWontSleep]

We filled up a thread without even noticing!

Primary school outcome for dd today . They say that the emails will be sent out by 6pm (though may take longer to get through to us).

Glad you're getting better, pistachio

csws at only £400pcm mortgage. That's amazing. We are in "repayment" not "interest only" so it's a bit different of a situation, but it's much higher... and if interest rates rise again, I'm just soooo afraid. How much could they rise? Does anyone know?

We've got some other properties lined up to see closer to where I work that look a bit nicer... fingers crossed. We're being picky. Need at least 2 bedrooms, double bedrooms, not solely ground floor... first floor ok but must have a private garden, no block of flats or one of those little areas where there are a whole bunch of buildings that look exactly the same and look dirty... (sorry if that sounds horrid, I just don't like the feel of those neighbourhoods). In need of updating and a bit of work is fine with us, though.

Ksal how will having a 2nd dc in nursery work into that? I keep thinking it would never work and I'll have to wait for Q to be in school if we ever change our minds... thinking we won't, though.

Sometimes I look at our salaries together and think, "why in the world aren't we able to go on holidays and buy things on a whim on this?" We were actually a lot more free with money before having childcare expenses. So that answers that. But we'd be unable to live if we didn't both still work and having Q is so worth it!! I'd rather have Q than lots of new clothes.

If it was repayment star then I think we could add about another £1k a month to that figure.

Interest rates were about 13% when I was a young teenager.

thanks pistachio. I thought it was a pun.
13% do you think that could happen now????

Pistachio I worry over that exact thing. Which is why I think 1 is best for us. University cost alone terrifies me.

I'm having difficulty breathing thinking about interest rate rising to 13%. I may pass out.

Be calm star, very unlikely short term. Have a look at the deals mortgage companies are willing to offer for fixed terms over 5 years. That will give you an idea of the expected cost of funds.
And breath...

Thanks, pepper We were going to wait until we sold this and buy another to get into a fixed rate but wasn't sure if it was wiser to do it sooner... or even if possible. I'm so crap at all of this stuff.

Oh gosh no - I wouldn't expect anything like 13% these days. Sorry, was prob naughty of me to mention it. I remember in maths lessons working out how much a house sold at x with a 25 yr mortgage would actually cost, and was so staggered that I said that I'd never buy a house!

It's about budgeting and what you consider "essential". I know I have very different ideas of what is "essential" to someone else I know. For example, a £380/week full time cleaner isn't a necessity for me. So, that already makes me able to survive on less money than that person .

at £380 a week full time cleaner! Makes my £25 one seeem a real bargain!

I know, csws. Isn't it nuts?? I have friends who employ a once per week cleaner for around £30 and think it's a lovely luxury. It's all about perspective

at £380 a week cleaner!

I had a friend who worked in a bank at the time of the sky high interest rates and she said people were coming in every week to hand in their keys because their houses were repossessed. Horrible. I'd definitely be looking at a long term fixed rate if I was remortgaging at the moment, while the interest rates are still low.

Myjob - you are obviously very good at budgeting. But it is all about what you consider essential. I've chosen to work p/t at the moment, so we know that we won't be having luxury holidays or anything, but it's a choice I've made and am happy with for now. Thankfully, we enjoy camping! I've got a friend from way back who is now really rich (married a banker), and sometimes it's difficult not to feel envious of her lifestyle but we're pretty happy on the whole.

KSal - Hackney is expensive isn't it! Especially when you consider the crime rate. We wanted to move there but couldn't afford it! Where are you living now (roughly)?

cf - can I call you cf? That bank job must have been horrible!! I'll look to lock in a rate but think I need to wait until we sell/buy. right?

We rented in earls court 5 or 6 yrs ago. soooooo pricey!!!!

You can call me what you like Star.

There might be others who are more knowledgeable than me on here but I'd start looking around for a mortgage rate sooner rather than later. Sometimes you can get approval and get a rate reserved for you for a while. Depends how soon you think you'll be moving. Is your place on the market yet?

It's going on this week
I hope to move asap. That's as soon as ours sells and as soon as we find something we would like to move into.

cf - KSal is up by me.

What's svr?
Pistachio that is so ridiculous that not having expensive holidays puts one in the "poor" category.
We only spend £40/week on groceries, I'm always ed at the amount it costs some families... but we don't have meat so it's a bit different. We go out to dinner only when we have vouchers for buy one get one...etc so we only ever end up spending a max of £10 on a meal out for the 3 of us. It's not difficult to live frugally. The cost of living is just silly expensive.

Standard Variable Rate
Can go up and down as base moves or the mood takes them.

oh, standard variable rate.
duh.

THank you, pepper!!