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Shared ownership mortgage

mortgage deals, ideas and discussion
lizzydripin
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Re: Shared ownership mortgage

#87273

Postby lizzydripin » October 10th, 2017, 8:42 pm

Hi All

Just to say everything has now changed with this house and we have now been offered the chance to buy it outright as it can not be sold as originally thought.

My mortgage advisor tells me we can afford it but I would really like the boards thoughts so I am posting an soa based on this house, I am worried I may have forgotten things so would really value your thoughts

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 2

Monthly Income Details
Monthly income after tax................ 2321.9
Partners monthly income after tax....... 1536.98
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 3858.88

Monthly Expense Details
Mortgage................................ 1115
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 107
Electricity............................. 54
Gas..................................... 60
Oil..................................... 0
Water rates............................. 44
Telephone (land line)................... 0
Mobile phone............................ 77
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 35.5
Groceries etc. ......................... 600
Clothing................................ 150
Petrol/diesel........................... 60
Road tax................................ 26
Car Insurance........................... 70
Car maintenance (including MOT)......... 80
Car parking............................. 0
Other travel............................ 20
Childcare/nursery....................... 0
Other child related expenses............ 60
Medical (prescriptions, dentist etc).... 50
Pet insurance/vet bills................. 53
Buildings insurance..................... 0
Contents insurance...................... 14
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 65
Haircuts................................ 18
Entertainment........................... 80
Holiday................................. 75
Emergency fund.......................... 150
Total monthly expenses.................. 3063.5


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 15000
Other assets............................ 500
Total Assets............................ 15500


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 250000...(1115).....2.9
Total secured & HP debts...... 250000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 3,858.88
Expenses (including HP & secured debts). 3,063.5
Available for debt repayments........... 795.38
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 795.38

Personal Balance Sheet Summary
Total assets (things you own)........... 15,500
Total HP & Secured debt................. -250,000
Total Unsecured debt.................... -0
Net Assets.............................. -234,500

Created using the SOA calculator at http://www.stoozing.com.

Please let me know thoughts and if I have forgotten anything
As always all help is really appreciated
Lizzy


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