Wealth update – 31/03/2022

Deposit drama

I am now waiting for the county court to send out acknowledgment letters etc regarding my court claim. I’m sure I will hear from my ex-scumlord very soon.

Property purchase

My offer of £450,000 for a 2 bedroom new-build property was accepted on 1st March 2022. I spent the next month or so sorting out the help-to-buy equity loan – my application was rejected three times as the address on it kept being incorrect or was alleged to be incorrect. That’s all sorted now.

So, it took me a month until my help-to-buy equity loan application was accepted. I received my “authority to proceed” today. This basically means that the government bureaucrats are happy to buy 40% of my future home and I can now proceed to apply for a mortgage to buy my own 60%.

My solicitor even confirmed that he has received draft contracts from the vendor’s solicitor. Things finally look like they are progressing.

Salary review and bonus

I received a salary bump of circa 5% and got a bonus of roughly 11.5% of my old basic salary. I’m quite pleased with this.

Tax year end

I’ve sold my GIA to cash as it’s roughly £30,000. I will use £20,000 to fund my ISA/LISA on the 6/4/2022 and the majority of the remainder as a one-off personal pension contribution on 5/4/2022 to avoid paying higher rate income tax.

I didn’t need to sell all of the GIA for the above money shuffles… but I figured I’d want to realise as much capital gains as possible. However, I still ended up with a small capital loss for 2021/22.

After the ISA/LISA/SIPP funding from the GIA, I expect circa £1,300 remaining, which I will invest in an alternative fund to the one the circa £30,000 proceeds came from (due to the 30 day CGT pooling rules).

Counting my beans

March was a positive month for my portfolio but I’m still in a drawdown.

My net worth as of 31/03/2022 has increased to £275,830 – it’s an increase of £16,730 or 6.5% from the end of February 2022.

The above results are after I made a £474 pension top-up (deducted from salary + employer contribution) and added £5,350 to my cash pile (I need to pay legal fees and stamp duty on my property soon – i.e. circa £10,000 in total in about 2 months’ time). Most of the cash is from my bonus but I also decided to leave my normal monthly investment contribution in cash.

Wealth update – 28/02/2022

Deposit drama

I got my full deposit back from my scumlord. She decided that it wasn’t worth the hassle to counter my claim and to provide her evidence to mydeposits to justify her desired deductions. Mrs Scum repaid the deposit without any deductions.

Anywho, a good result on this front and I’m very happy with this outcome.

I have now sent her a letter before action as she has failed to properly deal with the security deposit protection within the 30-day timescale. I doubt she will respond in any constructive way to my letter and instead will just hide her head in the sand. Therefore, I expect to start the court case in a week’s time.

Property purchase

I have lost all faith in my current flat purchase – the estate agent and the vendor’s solicitors have failed to give me a single update or progressed things at all. Nothing has moved and the previously promised commitments were never honored – i.e. “the draft contract will be sent next week” was a lie.

I have therefore resumed my property hunt and found one I liked a lot a few days ago. It’s a new-build, two-bedroom flat on the ground floor, which has a private garden bit connecting to a communal garden (perfect for my dog). Long story short, I’ve made an offer of £450,000 (£5,000 below the asking price). Since I’m using a LISA, I can’t buy anything valued at more than £450,000.

I will need to use the help-to-buy equity loan to be able to afford the new property. I should find out tomorrow if my offer is accepted or not. I’m relatively confident they will accept, so I’m quite excited.

Counting my beans

February was another negative month for my portfolio – inflation fears, rising interest rates and the Russia-Ukraine war all played a part in this.

My net worth as of 28/02/2022 has dropped to £259,100 – it’s a decrease of £26,661 or -9.3% from the end of January 2022.

The above results are after I made a £2,333 GIA top-up and £452 pension top-up (deducted from salary + employer contribution).

Russian warship, go fuck yourself!
Glory to Ukraine!
Slava Ukraini!

Wealth update – 31/01/2022

Deposit drama

I am now going through the mydeposits dispute process as I do not agree to any deductions from the security deposit on the previous flat we rented. I had to provide a bunch of evidence to support my claim, which was a pain, but it’s now all done.

The latest update I had is that it will take 20 working days for the landlord to respond to my claim – so I should hear back in mid-February and hopefully have this resolved by end of that month.

The onus of proof will be on the landlord. They will need to provide reliable evidence, usually in the form of an inventory, or a schedule of condition and photographs, to support their claim for deductions from the deposit.” Good luck scumlord, I’m very pleased about creating this additional headache for you.

By the way, I’m not doing it because £125 (the disputed amount) is a lot of money. I’m doing the above for two reasons:

  1. I want to know what the dispute process is like so that going forward I have the experience in documenting things in the right way and to learn from the experience.
  2. My scumlord is a greedy bastard and I want her to see that she can’t get away with whatever she decides. I think the scumlord has never had any pushback from her tenants and now can’t believe that anybody is fighting back. Oh boy, will she be surprised when I start the claim about her failure to properly protect my security deposit in line with the 30 day deadline and relevant regulations.

Health

Health has been good and I’ve restarted my running training.

I was supposed to have an appointment with a cardiologist this month. I’ve been waiting for this appointment since November 2020. Yes, the NHS booked the appointment 14 months ahead of time. I wonder if I booked a meeting with a client and told them it will take me more than a year to be able to see them… I’d be losing business left, right and center.

A few days before my cardiologist appointment I got a call from the hospital. I was asked if I attended the echocardiogram appointment that was earlier that day. I hadn’t because I never received anything to confirm the echocardiogram appointment.

It’s fascinating, the NHS contacted me after the event to ask if I even attended the appointment. They had no clue.

My dentist (not part of the crappy NHS) texts me a reminder before each appointment – they are actually incentivised for me to show up. However, the useless chaps at the NHS do not care as they will get paid the same regardless. They have zero incentive to improve their service and boy does it show.

Anywho, I was told they would reschedule my cardiologist appointment – it’s been 3 weeks and I haven’t heard anything regarding this. I’m not surprised at all.

Property purchase

I have had zero updates on my flat purchase since early December 2021. I knew not much was going to happen in December due to holidays and the festive period but I thought that things will start moving in January.

I was emailing the estate agent every week for updates but got simply ghosted. Then I decided to email the agent’s manager – again I got ghosted. Then, some chap from the estate agent sent me an email with three other properties to see if I was interested in arranging a viewing – I responded to ask him if that’s a hint that the property buying process has fallen through. He ghosted me as well.

I emailed every single person, who had previously contacted me from that agency to ask for an update and repeated the chasers weekly as every single person ghosted me.

Then last Friday morning I decided that enough is enough and I looked up the company’s CEO. It took a good 15-20 minutes to find out who he was (I used Companies House to start my search process) and then figured out his email address.

It was a proper Karen move, but I emailed the CEO directly and complained about my buying experience and how poor it’s been.

I mean, I work with clients and if somebody was chasing me week after week, I would not ghost them. I’d get on it and get back to them ASAP if there ever was a chaser, let alone multiple chasers. It’s horrendous customer service I’m getting from this estate agent. That industry really deserves its poor reputation.

The CEO responded to my email within minutes and said he’d make sure someone gets back to me and that’s exactly what happened. A manager from the estate agent called me back a few hours later and then followed up again a second time that day once he got further updates. He gave me a half-assed apology about the delays as well and said they’d prioritize my case.

So, the good news is that things with the flat purchase seem to be progressing now. However, the legal stuff is still at square one as the draft contract hasn’t even been sent from the vendor’s solicitor to my solicitor. I was promised this will be sent this week.

Fingers crossed the rest goes smoothly!

Counting my beans

January was my worst month so far for my portfolio – the markets had a relatively poor start to the year.

My net worth as of 31/01/2022 has dropped to £285,761 – it’s a decrease of £70,831 or -19.9% from the end of December 2021. The loss would be even bigger had I not cashed in the majority of my LISA for the mortgage deposit.

The above results are after I made a £1,633 GIA top-up, £452 pension top-up (deducted from salary + employer contribution), and added £175 to my cash reserves.

Although I’m down a lot from a month ago, I’m not that worried. I can still sleep at night and continue to be very optimistic about the future and think the bull market will continue for many years.

Wealth update – 31/12/2021

Deposit drama (a different one from last month)

This keeps happening, another scumlord story… Our most recent ex-landlord is trying to deduct £125 from our security deposit for additional cleaning and water “damage” to the board around the kitchen sink.

We paid around £200 for a professional end-of-tenancy cleaning and the ex-landlord is still trying to get more money for various “ommissions” and is also claiming £80 for water “damage”.

I’m not having any of her crap and I got very angry after reading her email about the above. We only stayed in the flat for 6 months. It’s insane to claim water damage to the board around the sink – of course, it will get wet – it’s a sink with a tap that is in daily use. The water damage thing is ridiculous – if the board isn’t water-resistant then it’s completely unfit for purpose and not our responsibility anyway. However, what damage can happen in such a short i.e 6-month tenancy?

Anyway, I requested she refunds the entire deposit to us and provided our bank details for the payments. She hasn’t made any payments and it has now (today) been 10 days since I requested the payment. Therefore, I am now eligible to take it to the tenancy deposit dispute service, which I am more than happy to do.

Following that, and once we get our deposit back, I will take her to court as she has also failed to act in accordance with the tenancy deposit protection rules. This will be the third time I’m doing this with ex-landlords and all the previous times have been financially productive. 🙂

Health

I was sick for most of December. I had flu-like symptoms but it wasn’t Covid. This time I had lots of phlegm and gross stuff in my throat and upper chest etc… Maybe a lung infection, I don’t know.

A week ago I got the Covid booster as well. I understand that all the vaccinations won’t prevent me catching Covid or the flu, but I am expected to have milder symptoms and not end up in a hospital. So, at least I’ve got that going for me…

I feel much better now, thanks for asking. 🙂 

Property purchase

There’s been no update on my flat purchase, which didn’t progress much due to the holiday period. I expect this all to be sorted around March 2022.

Counting my beans

December was a small positive month for my portfolio. My net worth as of 31/12/2021 has reached a new all-time high of £356,592 – it’s an increase of £5,061 or +1.4% from the end of November 2021. 

The above results are after I made a £1,633 GIA top-up, £452 pension top-up (deducted from salary + employer contribution), and added £200 to my cash reserves.

2021 net wealth summary

I’ve calculated that my wealth increased by £195,353 (from £161,239 on 1/1/2021) in the 2021 calendar year – of this £26,825 was new money and £168,528 was the investment return – that’s about £14,000 of gains each month in 2021!

2021 has been a fantastic year for my portfolio. I hope you had a good year too and I wish you a happy new year!

Wealth update – 30/11/2021

Deposit drama

We finally got a payout from the ex-landlord of £2,500 + fees we paid to start the court claim (they failed to protect our deposit within 30 days of receiving the deposit payment). We ended up settling and it didn’t get to court. I’m very happy about this outcome.

Health

Last month I said I might be allergic to something which was causing my cough. Turns out all the tests were negative and I’m not allergic to anything. So… it’s just some sort of sinus inflammation and I’m taking a nasal spray to alleviate the symptoms and that’s been working really well.

I suppose it’s good to know there’s nothing wrong. 🙂

Personal and new home(s)

As I’m now single, I’ve moved to a flatshare and am renting a small single room. This is intended to be temporary. I am also in the process of buying a two-bed flat – my offer has been accepted and mortgage approved, it’s just the legal stuff that now needs to be done. I expect to be in my newly bought home earliest in February 2022 but it can easily end up in March as well. The majority of my LISA is now in cash as it’s there to pay for my 20% deposit.

There will be a large drop in the wealth chart when I buy the property as the majority of the LISA will disappear. I have decided that I will not include my property in the net wealth charts as my home is not an investment.

Counting my beans

November was a very good month for my portfolio. My net worth as of 30/11/2021 has reached a new all-time high of £351,531 – it’s an increase of £55,617 or +18.8% from the end of October 2021. I increased my wealth by almost my annual gross salary (of £55,900) in one month. 🙂

My EIS holdings had another crowdfunding round and the share price increased by 145% creating £21K of gains. Taking risk is paying off as I originally only invested £2,000 and received £600 back via EIS tax relief. This investment is now worth £35K+.

The above results are after I made a £1,633 GIA top-up, £452 pension top-up (deducted from salary + employer contribution), and added £350 to my cash reserves.