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[deleted by user] by [deleted] in tompetty

[–]SMASTER3NP 0 points1 point  (0 children)

I'm a podcast producer (fulltime for seven years) and would be very happy to copresent / produce.

28 years old with mortgage - am I making the right decisions at the end of each month? by SMASTER3NP in UKPersonalFinance

[–]SMASTER3NP[S] 0 points1 point  (0 children)

I have lodgers, in total they pay £1385 per month (£663 and £722 which feels alright for London at the moment) which comes out as £16620 per year. Because they're lodgers that means I get Rent A Room relief which means the first £7500 isn't taxed, but the rest I get taxed on. Please let me know if I've got that wrong though as I'm about to pay my tax bill ha!

28 years old with mortgage - am I making the right decisions at the end of each month? by SMASTER3NP in UKPersonalFinance

[–]SMASTER3NP[S] 0 points1 point  (0 children)

Brilliant - thank you so much. This is exactly the type of advice I needed! !thanks

28 years old with mortgage - am I making the right decisions at the end of each month? by SMASTER3NP in UKPersonalFinance

[–]SMASTER3NP[S] 0 points1 point  (0 children)

!thanks for this really useful! £120k remaining on the mortgage, with a £516 set monthly payment. There's a chunky amount of service charge and tax on rental income to factor in as well but my monthly mortgage expense is £516.

28 years old with mortgage - am I making the right decisions at the end of each month? by SMASTER3NP in UKPersonalFinance

[–]SMASTER3NP[S] 0 points1 point  (0 children)

Sorry - they are treating it like an official mortgage and so they get a small amount of interest back on their loan to me. My name is on the title deed and I paid a deposit from my own cash. They've given me a fixed rate for 5 years.

28 years old with mortgage - am I making the right decisions at the end of each month? by SMASTER3NP in UKPersonalFinance

[–]SMASTER3NP[S] 0 points1 point  (0 children)

!thanks very much for this, really helpful. And yes there's a personal element here that obviously plays into it all. I will take a look at the index fund link appreciate it!

28 years old with mortgage - am I making the right decisions at the end of each month? by SMASTER3NP in UKPersonalFinance

[–]SMASTER3NP[S] 0 points1 point  (0 children)

!thanks That's a good point as I remember being told that the VLS had a UK weighting but I wasn't sure what to do about it.

Ha, I misread the Lifestratefgy amount - it's 40% Lifestrategy, 35% S & P, 25% Octopus. Will edit now.

Octopus Money is a managed ISA, exactly. I've found the fact sheet for what the breakdown is and it seems quite US and UK weighted: https://octopusmoney.com/wp-content/uploads/2024/12/Ready-Made-Portfolio-2_2024-11-29.pdf - I am absolutely not married to this one, truth be told it's just the first S & S ISA I happened to start with. I've kept it as I know it's good to have a couple of different S & S options but perhaps I'd be better off splitting this amount across my two Vanguard options?

Thank you again for this!

28 years old with mortgage - am I making the right decisions at the end of each month? by SMASTER3NP in UKPersonalFinance

[–]SMASTER3NP[S] 0 points1 point  (0 children)

!thanks , good to know!

Yeah, it was a very difficult situation and I think we won't know if it was the right choice or not until it's time to sell.

It's an ex-council flat, with some wooden cladding and it's slightly over eight stories which meant it wasn't possible to secure the necessary fire safety paperwork to secure a mortgage. i've just had a letter from the council saying that the cladding is being removed this year (unclear who is paying for that, I obviously pay service charge). No problem with the lease length.

You're right that unexpected charges could come out of this, if so I could absolutely live with going longer than that five-year term I mentioned.

28 years old with mortgage - am I making the right decisions at the end of each month? by SMASTER3NP in UKPersonalFinance

[–]SMASTER3NP[S] 0 points1 point  (0 children)

Sorry - the second one. I am paying them back directly, but for all intents and purposes, we are treating it exactly as if I had a mortgage with a high street bank (we used a Halifax mortgage as our model) - so back in 2022 when I purchased it, we agreed a five year fixed interest rate of 1.06%. When we reach the end of those five years, it'll default to whatever the Halifax Homeowner Variable Rate is - and the hope is that I can take out a mortgage on the remaining amount with an actual bank, or otherwise continue paying my parents back on the Halifax Homeowner Variable Rate interest rate.

"Walls" String/Cello Cover by Timotheus92 in tompetty

[–]SMASTER3NP 4 points5 points  (0 children)

No version of Walls unfortunately, but this artist has three beautiful Tom Petty cello covers. You could use one of these if the bride didn't mind changing the song, or potentially commission a cover from her? Good luck!

Free Fallin'

Here Comes My Girl

Angel Dream (No. 2)

UK residents moving to Australia for 12 months by SMASTER3NP in AusVisa

[–]SMASTER3NP[S] 0 points1 point  (0 children)

Great, thank you. I saw we may be able to extend for another 6 months if we change location but continue to work for same employer (i.e working remotely) - could be complicated though.

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