I've managed to mess up and forgot to get the details of the portfolio as at the end of trading on Friday 24th. The best I can do is give the position from the week before and as you can see there are no new positions and little movement.
Hey - it's summer! Although the weather is more March than July...
LM portfolio as at 17/07/2020:
| Code | Sector | Date Bought | Cost | Value | Gain/Loss |
|---|---|---|---|---|---|
| LM009 LM009-2 |
Gas, Water & Multiutilities | 05/02/2019 04/02/2020 |
£2020 | £1920 | (5.00%) |
| LM012 LM012-2 |
Real Estate Investment Trusts | 20/05/2019 28/11/2019 |
£2030 | £2290 | 12.64% |
| LM023 | ETF | 19/05/2020 | £1020 | £1010 | (1.21%) |
| LM024 LM024-2 |
ETC | 01/06/2020 23/06/2020 |
£2030 | £2080 | 2.81% |
| LM025 | ETC | 08/07/2020 | £1030 | £1050 | 2.21% |
Life continues to throw up some "challenges".
Back in February we went to see a mortgage broker (and old school friend of mine) who advised us that the mortgage market was bullish and a mortgage with a 5% deposit was a very feasible option.
So, with both of us recovering from failed relationships and the solicitor bills, debt and overall financial damage that comes with this, we would have to hunker down for a couple of months to get up to 5%.
And we did it... we got to the 5% in savings... woo hoo!
Problem was this was a couple of weeks after the world went crazy with Coronavirus uncertainty.
Mortgage companies quickly shut up shop and 95% loan to value mortgages disappeared overnight. Then 90% ones too.
Just as we'd got to the point where we could start the process of buying, the rug was pulled out from under us.
And just this week we saw a house we really like. Definitely Sod's Law.
All we can do is continue to save and wait. And hope that the house doesn't sell!
We've seen other houses sell on Rightmove but then reappear for sale a couple of months later. Our mortgage broker friend explained that many people are having offers accepted but then they can't secure the mortgage.
It's difficult to see a house you like get sold when you can't do anything but we have to remember that there will be more houses coming on the market all the time. And the temporary removal of Stamp Duty will save us a small fortune so there are some positives.
We continue to look so we can get an idea of what our budget can buy us (when the mortgages come back) and what to be wary of. Those Rightmove photos from a low angle in the back garden do tend to hide the other houses that overlook the garden. Seems daft to try and hide these as obviously we will see them when we go and view the house!
And I can never understand why anyone would put a bathroom or en-suite in their house without a window in it. Very off-putting.