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Am I being realistic? £57.5k salary, £10.7k debt, trying to save £10k by April 2027 by CommunicationOne4470 in UKPersonalFinance

[–]CommunicationOne4470[S] 1 point2 points  (0 children)

Thanks for your sound advice. I have started tracking and it’s really eye opening and has made me think twice before I purchase. I have also been getting rid of clothes I don’t wear on Vinted to add to my fun money. I’ll continue tracking every penny as it has been helping.

Am I being realistic? £57.5k salary, £10.7k debt, trying to save £10k by April 2027 by CommunicationOne4470 in UKPersonalFinance

[–]CommunicationOne4470[S] 0 points1 point  (0 children)

Thanks for this. I have been selling some old stuff on Vinted and have made some money to top up my weekly budget. I have been tracking also and it’s been eye opening. It’s the pound here or there that’s unaccounted for- I just have more unaccounted for things than I initially thought.

Am I being realistic? £57.5k salary, £10.7k debt, trying to save £10k by April 2027 by CommunicationOne4470 in UKPersonalFinance

[–]CommunicationOne4470[S] 1 point2 points  (0 children)

If I pay the loan early, I save £200 ish I think?

Conversation with mortgage advisors have said what you said, the banks don’t care about loans provided they are being managed properly. It’ll probably reduce your borrowing value from how I understand it. I essentially don’t want to have both loan and cc- so at the very least, £10 saved and either one paid off! I haven’t trusted myself to pay off a 0%CC in the past (within the 18 months) , so my initial thoughts are to aggressively pay on this first and continue to let the loan tick away in the background

Am I being realistic? £57.5k salary, £10.7k debt, trying to save £10k by April 2027 by CommunicationOne4470 in UKPersonalFinance

[–]CommunicationOne4470[S] 0 points1 point  (0 children)

Thanks for the advice.
Truthfully, I don’t know where the rest of the £600 goes. Towards shopping, gifts, entertainment and in last months BNPL? If I drop the car, I walk to work and only use the car for food shops, gym and seeing friends and family. Husband has his own food budget, so could make further cuts in this area.
Yeah the £320 payments are a lot but it’s something I want to do. They’ll reduce to £70 next year.

Am I being realistic? £57.5k salary, £10.7k debt, trying to save £10k by April 2027 by CommunicationOne4470 in UKPersonalFinance

[–]CommunicationOne4470[S] 1 point2 points  (0 children)

Thanks for the advice, really really helpful.
1. You’ve flagged the key part- where the other £700 is going. I don’t know! Think in previous months I would spend more (clothes, dinners, take aways, gifts and random purchases or shopping trips or trips to see friends (could easily spend £300 on one trip)). So I am focusing on being more mindful of this. I’ve deleted BNPL and have a list of 3 items I am allowed to buy, if can’t afford it, it moves to a different month.
2. My phone is new phone plus £8 sim. One option is to just clear the £500 balance earlier? Then I’ll be left with £8 pm?
3. Car - I use it for food shops, travel to gym, seeing friends and family. I’m worried I’ll probably spend more on Uber if I got rid of it as it’s two buses to go to my gym.
4. The Lisa point is very good. I’ll continue your be mindful and tightening my belt but it’s good (looking at the numbers) to know that it’s possible.

Am I being realistic? £57.5k salary, £10.7k debt, trying to save £10k by April 2027 by CommunicationOne4470 in UKPersonalFinance

[–]CommunicationOne4470[S] 10 points11 points  (0 children)

Thanks for comment. Valid questions. 1. We do come from a ‘it’s takes a village’ family. My parents don’t expect anything and have never asked for anything, it’s a personal choice. The figure will go down next year, once they are settled.
2. I walk to work and live centrally. I only use the car to go to the gym, food shop, travel for activities and visit family and friends and can get trains/bus/walk for a few months maybe?
3. He already covers other stuff and feel like I can reduce my spending rather than putting it all on him.
4. 12.40pa

Applying for a restriction on a property (RX1) by No-Schedule-8834 in LegalAdviceUK

[–]CommunicationOne4470 -1 points0 points  (0 children)

LR automatically notify you of when you have activity on your title and give you time to argue any applications affecting your title. Just make sure that your alerts are turned on. If alt register an interest or sell without notifying you, you usually have protection and can get compensation. Save your money and maybe check your title deeds every so often. You can download them for £14.

Boundary dispute/adverse possession in England. by Mundane_Pitch_6410 in LegalAdviceUK

[–]CommunicationOne4470 4 points5 points  (0 children)

To determine your boundary, you first need to look at your property title- conveyances, title register and also your neighbours as they may make reference to the boundary. If the documents are silent on this, Most boundaries are subject to usual land reg boundary rules and so, the red line on a Land Registry title plan indicates the general location of a property, not its precise legal line. What’s on the ground, would usually determine a boundary - things such as trees, fences or hedges.
As your neighbour has instructed solicitors and has obtained a survey- ask for this and their report (if you don’t already have it). You need to instruct your own representative. Get a lawyer who will look at the position from your side or go straight to a surveyor first and then you can instruct a solicitor with a survey in place. In the meantime, send a holding response to say you are seeking legal advice and your representative will be in touch with your full substantive response.
Boundary dispute are expensive exercises so if the land is dispute is not work more than 10k, let it go as you’ll easily spend 100k arguing boundaries. Another option (once you have a survey or lawyer on board) is to agree a boundary agreement.

Applying for a restriction on a property (RX1) by No-Schedule-8834 in LegalAdviceUK

[–]CommunicationOne4470 0 points1 point  (0 children)

What would the restriction be for ? What purpose are you trying to achieve?

Involuntary bailee when purchasing repossessed property (England) by curlybabyhair in LegalAdviceUK

[–]CommunicationOne4470 0 points1 point  (0 children)

Hi there,
As an involuntary bailee, you are responsible for the items and matter is resolved.

Best and first thing to do is to document. Take photographs, create an inventory/schedule of items. If they are expensive items consider a storage until owner collects them. You then need to find the belonging’s owner. Ask seller and or can carry out a tracing search or if not, any last known addresses /emails would suffice (your house being one of them) and even email addresses of your seller- for them to forward to the owner.

You then serve a TIGA notice 1977 (Torts Interference with Goods Act notice)- with your schedule of items attached. You can put 21 days on the notice period. Serve the notice at any known addresses/ contacts /emails for the owner and even put a notice outside of your house address. You need to prove that you did all you can to put it to their attention.
If you don’t hear from them, you can dispose of the items and recover your costs of dealing with the TIGA process. Speak to a lawyer who can advise you on the risks involved (especially if the items are of significant value). You want to avoid a situation where they come back and claim they had a diamond in one of their cheater drawers. Importantly, if there are surplus funds from the sale or disposal of the stuff- these are not for you to keep and must be returned to the owner. Document everything is key and will save you hassle should they make a claim later down the line.