Words of warning and welcome:

This is very much my blog, so don't be surprised if this doesn't follow accepted patterns and norms. Obviously it started out as a blog about my cross-dressing but it has developed a great deal since then. It is a place where I can be anonymous and honest, and I appreciate that.

It will deal with many things and new readers would do well to check out the New Readers' Page above this and the tag down there on the right. Although there's nothing too bad in here there will be adult language, so be careful. If you think this needs a greater control, please let me know. Thank you!

Monday, 29 July 2013

I am a twat

Let me explain. We are moving (what, no, really? I guess I didn't make that abundantly clear) and I thought I had the finances figured out. So, we go on our merry way making plans and working out what we can afford to offer. However, I'm not sure I've got it right. We put in an offer within what I figured we could afford and had it accepted today, but now I'm running the sums over and over and I think I may have miscalculated.

See, we owe about 91k on the shithole that we live in, we sold it for 89k, because that's good, despite an asking price of 100k. I have overpaid the mortgage to the tune of 8k, which we kinda need for a deposit on a new place. Now, in my original original sums we had the house going for about 95k, giving me 4k moneys. At some point I decided to change the maths. We borrow back 8k, the mortgage rises to 99k, but we still owe 2k, so I have 6k to play with.

Uh huh. But, if my mortgage is now 99k, don't I owe 10k on my property? If so, where in the Sam Hill is that coming from? How can I afford, well, anywhere else? This means I have to borrow an extra 22k to afford the offer we just made, a full 3k higher than I thought was my limit. This could be, well, a bit bad. In my plan I thought that we could get a loan to cover the difference, in this new mathematical paradigm I'd have to borrow twice as much? In order to pay off the original mortgage on the house and cover the difference I'd need 10k+22k-7k (to keep 1k for moving expenses) making a total of 25k of extra loan. This takes my monthly payments up much higher than I was expecting. Basically, when mortgage interest rates rise we'd be left unable to live as we are accustomed. Shit.

Someone tell me that my new maths is wrong and that my original maths is right?

No comments:

Post a Comment

All comments are welcome, I have a thicker skin virtually than I do in real life!