MrsH

A question about : MrsH

Afternoon!

My very first post - so please be gentle, although I have lurked for a long time.

Bit of a fraud at the moment as don't have the mortgage yet but wanted to start as I mean to go on.

A bit about me - Mrs H (very late 30s), Mr H (even later 30s), 2 little ones and my H has a son from a previous relationship who is a regular visitor. We live on the south coast, and until last year owned a 3 bed semi. Due to ever increasing toys etc we decided that more space was needed, particularly living space and put our house on the market. We want to stay on the same estate as very happy where we are and our daughter is in her first year of school.

We accepted an offer on our house but very little was coming on the market and when a house did, they were selling on the same day, at asking price to buyers who had no chain. We had FTB who wanted to move so we took the decision to move into rented, which we did and completed the sale of our house on 12 December.

We kept in regular touch with the estate agent that sold ours, they knew exactly want we wanted and at the end of January we had an offer accepted on a 4 bed house on the same estate, the first day on the market we, and 2 other couples viewed it, all offered asking price but fortunately we secured it. So we are waiting for our sellers to find somewhere (they are moving up north) before we crack on with the paperwork, hopefully we can tie everything in with when our rental period ends at the beginning of June.

This will be a long term house but if we take a standard 25 year mortgage we will just finish paying it off just before retiring, so have decided that overpaying is the way forward!!

Our first target is to find the extra money needed so that we can apply for a mortgage with a LTV of less than

The initial plan at this time is to over pay each month by about Ј100-Ј150 as our mortgage will be less than we are currently paying in rent and then looking to make additional overpayments when possible.

That's more than enough for now so will get back to work!

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