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New Year New Dreams

new year new dreams

New Year New Dreams

Wow, where did that year go? – last we knew it was early summer and we was in the process of buying our much-loved home and dreams finally were coming true.

You may or may not had noticed but our family blog has been on the quiet side for the past few months – this has been because we have been busy trying or hardest to buy our much-loved family home that our children had grown up in. Sadly this didn’t happen for the reason below.

We have needed time to adjust and come to terms with our dreams sadly NOT happening.

Some dreams are just NOT meant to be

How things have changed and time certainly don’t stop. We was happily putting our plans into action and preparing to become first time buyers. The forms needed was filled out and the necessary fee’s was paid.

All was going so well and was accepted by our housing association following all the necessary checks – eek it was all so exciting, we was so excited to be getting our foot on the property ladder and investing in our children’s future.

Word’s can’t describe how happy we all was.

The all important appointment was then made with our bank along with a few others just to make sure we got a good idea of mortgage rates on offer at the time. We found there wasn’t much of a difference in the rates so had chosen to stay with our own bank and keep everything in the one place.

Credit checks was done once we gave the go ahead, these went through no problem and the dotted line was then signed.

The surveyor appointment was then made.

It was all so exciting….

This is a moment we had dreamed of and worked towards for so long and it was finally happening.

Until…..

Bad News Then Struck

The surveyor arrived as planned to check the property – this being our home of 13yrs, he arrived and broke our hearts. Our home was made of prefabricated concrete and sadly no mortgage lender will lend on these properties…..Our application was then rejected by our bank for this reason.

Giving up was something we didn’t do easily, we went on to apply elsewhere and get second opinions but all the surveyors was saying the same and pre fab properties are not something to lend on.

Heartbroken and not knowing where to turn or what to-do, we even went as far as chatting with a broker where we didn’t want to give up on our dream – sadly a BIG NO came back there too!

new year new dreams

What Now?

So we have been living in a housing association rented property, living there for 13yrs – 13 happy years in hope of one day being financially able to buy the property. It came to the point of having to have that horrid chat about what-to-do now?

It was then agreed that we was paying out dead-end money, something that was agreed that we didn’t want to do. The time had come to be realistic and start making other plans for our future, our dreams of owning the house we had lived in for 13yrs had sadly come to an end.

New plans was then made

A phone call to our housing officer was had to see what our options was from here. It was then advised if we was wanting to still use The Right To Buy Scheme to get our foot on the property ladder that we look for what is known as a home swap/tenancy swap. This is where two tenants swap houses.

We then signed up to a website called HomeSwapper and the hunt then began. We knew we didn’t want to move too far away from where we was in North London as we had all settled here and our day-to-day commitments was here.

It was a heartbreaking decision, we all had mixed emotions about moving but we pulled together as a family and knew it was something we had to do.

new year new dreams

The packing began

The packing then began and the tears began to flow. We had a meeting the day before moving, this was to sign all the home swapping paperwork – signing over of the tenancy to our much-loved home and then signing to take on the tenancy to the new home.

On our way back home from signing the paperwork we stopped off and collected one of the removal vans….Deep breaths was being taken all day and tears was being held back, it was now time to let go, get loaded up and say our goodbyes to our home and neighbors.

Our last night was spent in our much-loved home, we sat reminiscing before saying our goodbyes to our neighbors.

The big day had now arrived 

The moving day soon arrived, we hired two Luton vans, one we picked up on the Friday which we loaded on the Friday evening to make the move a little less stressful, mainly to get a bit of a break from the heavy lifting.

On the moving day itself it decided to rain…..Yes rain ALL day!

We are now in our new home and starting a new year with new dreams. We are still in North London close to all our day-to-day commitments. We found a house 2.5 miles from where we was which is good. We have had amazing support from friends and family for which we can’t thank enough.

We needed time to find ourselves again. We are now gradually getting back on top of things again, we know it will take time so for now we are thinking positive and taking things day-by-day. We moved back in November and it’s been hectic ever since. The last of the boxes are slowly being un-packed and routines are now taking place again.

Do we miss our old house? – yes, it goes without saying but we are now looking forward to the future.

We are starting our new year with new dreams and thinking positive!

Finance

Buying Our First House

Buying Our First House

Buying Our First House

We have been married now for sixteen years come August, we have three beautiful teenage boys and have always been a working family but the timing for buying our first house has never been right.

We have lived in our housing association three bedroom house since 2003, we exchanged to move here from our two bedroom council flat – we was very lucky.

Since living here we have done so much to the house to improve it and make it more homely, we have put in a new fitted kitchen and bathroom, added a conservatory and even paved both gardens to make it more pet friendly for Buddy our German Shepherd dog.

The timing hasn’t really been right for buying our first house until now – the house is now comfortable to how we want it and now feels like home – a home that we really want to buy. This is the house all three boys have grown up in, these walls hold so many happy memories.

We did look into trying to buy our house a few years ago but due to the (right to buy) law at the time it came back as a big fat NO!

Now due to recent law changes some people are now being given to right to buy their property if they wish so we recently looked into buying our house again and was totally shocked when they said YES, yes we will be happy to send you out the application pack needed.

Things are now starting to look up for us, we still have a long way to go but we are now a step closer than we was last year and we are keeping positive. We now have an application pack being sent out to us and all the relevant paperwork out to apply to be homeowners……Eeek exciting times!

Looking back to the very first time that we phoned to ask if we had the right to buy our property, in a way we are glad they said no because Ian was then working for a family run business and the boss never paid regular, we went from week to week not knowing when the next payday was or even worst still we never knew how much for. This wouldn’t look good on a mortgage application now would it?

It was a financial struggle and yes bills mounted up but he kept the job because it was a job and they are hard to find nowadays aren’t they?

Things are now different, I have been in a secured job now for a good few years and Ian has since changed jobs, he is now working for a very stable company that has been going for years. This company pays Ian on a set date each month without fail, now this has got to look much better for when applying for a mortgage hasn’t it?

With us both being in a steady job that we’ve been in for a few years now, bills have always been paid on time, we don’t have any rent arrears and we have means to show we can afford a mortgage and have means to pay on time each month.

So looking back – no the timing would have been completely wrong for us to apply but we have worked hard to get to where we are now the main thing we done was financially planned to get to where we are now, that is to be stable enough to be able to apply comfortably for buying our first house.

Your credit report holds all the cards as to whether you will be allowed the credit needed, so having a good credit rating is very important as it is used by lenders to determine how much of a risk you are to loan too. Do you check your credit score? we have been keeping a close eye on ours over the past few years. Credit score checks are used by most lenders, this can be for loans, mortgages, car finance, credit cards and so on.

Ways you can financially help yourself.

Financially plan if you wish to buy something.

Try and avoid getting into bad unessersary debt if possible.

Keep on top of all your bills. Paying on time shows you’re a good trustworthy person to lend to.

Keep an eye on your credit report and try to fix any problems that may show up.

Register on the electoral roll.

Try your best to avoid getting loans.

Keep a check on your outgoing’s, it is so easy to overspend.

Don’t abuse any credit that is available to you.

Are you looking to renew your car? take a look at Stoneacre Car Finance they offer great options ranging from interest free to low payments, also a no deposit car finance offer.

Buying our first home