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 Couple save £40k toward their dream home by living and working in a van in the Scottish Highlands 

News

 Couple save £40k toward their dream home by living and working in a van in the Scottish Highlands 
News

News

 Couple save £40k toward their dream home by living and working in a van in the Scottish Highlands 

2019-03-23 19:54 Last Updated At:19:55

Jane and Stephen have lived in a van for a year and a half and say they have never been happier.

A successful marketing manager has told how she and her husband have saved £40,000 towards building their dream home by living in and working remotely from a van parked in the Scottish Highlands.

Jane Holmes, 34, and her mountaineering instructor husband Stephen, 37 – who gave up bricks and mortar in favour of a life on the open road as a temporary measure 18 months ago, so they could save enough money to buy a plot of land and build a house – say they have never been happier.

Jane, who still works five days a week for a London-based tech company from their long wheel base Volkswagen LT, said: “There was a lot of toing and froing before we decided to go and live in the van, while we considered what other people might think, as we knew there would be a stigma around it.

“We know it is unorthodox. We live in a world where everyone is trying to keep up with the Joneses, but we are the makers of our own destiny and we thought, ‘Why shouldn’t we? It makes total sense.'”

Now living just outside the isolated Highland town of Fort William in their house on wheels, which is furnished with a bed, sofa and cupboards, along with an oven and portable toilet which they can empty, Jane and Stephen insist they miss nothing from their former life.

“At first it was more difficult, not having a shower unless we went to a local gym and not being able to put the heating on after a wet day,” said Jane, who also lives with Goose, the couple’s Siberian Husky.

She continued: “But more and more we have learned to adapt to life in the van and I feel like I have everything I’ve ever needed.

“I live in a place with stunning views, I have my health and my loving partner, and the ability to fit my working life around what works for me.

“What more could you want?”

After meeting 12 years earlier through Jane’s sister, Joanne, 39, an adviser for BT, when Stephen was in the Royal Marines, the couple had their first taste of living in a van when they went on a four-month road trip around Europe in a Citroen Relay in 2013.

Jane, who had been working remotely from home in the couple’s rented house in Dundee, Angus, explained: “Steve and I both have the travel bug in us and had planned to do this trip for a while.

“I handed in my notice to my boss, but to my surprise he turned around and said, ‘Why do you need to quit? You could just work on the road?'”

And so she did, working two or three days a week while travelling through France, Spain and Portugal, using a portable Wi-Fi router to keep connected with her colleagues in the UK.

She continued: “Having that flexibility with work made me realise that this was something you could do, and you didn’t have to necessarily be shackled to one place.

“That was what really planted the seed for everything that was to come.”

Returning home in December 2013,  the couple moved to a £550 per month rented house in Fort William in early 2014 to be closer to the Highlands, where Stephen runs mountaineering excursions, and then tied the knot in November 2016.

But, despite both working full-time, they calculated that it would take years of saving in order to buy the home of their own that they so desired, after renting for years.

“Mortgages and deposits cost so much and it became clear after we married that we’d have to really tighten our belts if we wanted any chance of buying a house,” said Jane.

“Then it occurred to us both that we could get around the problem by going to live in a van.

“We had done it before on our trip in Europe and knew that it worked for us, so we thought, ‘What’s stopping us from doing it again?'”

Packing up their belongings in April 2017, they bought a 14-year-old van big enough to fit a double bed in for £2,000, and leaving conventional living behind them, they headed to the Highlands.

Explaining the situation to her boss at Cloudbooking, a meeting room booking platform, Jane was able to continue working in the same capacity as marketing and communications manager, despite living in a home with no access to water, electricity or gas.

She said: “In the 21st century, it doesn’t always make sense for everyone to be based in the same place when it’s just as easy for people to work remotely with all the technologies we have today.

“I’m very lucky to have a boss who understands that and who gets that employee wellbeing is the most important element if someone is going to do a job well.”

Living entirely off-grid for the first nine months, the pair braved the northern winter by keeping warm using a wood burner, showering at local gyms and powering up with rechargeable batteries. They provided around a fortnight of electricity, before the couple had to charge them again at friends’ houses.

But when in February 2018 they stopped off at a holiday park a mile outside Fort William and were then offered a more permanent location by the park’s owners for £200 per month, they decided to stay put, giving them access to the site’s electricity and washing facilities.

Based there for almost a year now, they have saved two thirds of their £60,000 target, with which they plan to buy enough land in the Highlands to build a three-bedroom house from stone.

“It isn’t something that we would have been able to do otherwise at all,” said Jane, who estimates that they will probably be living in the van for another 18 months, to save the remaining £20,000.

“A lot of our friends and family thought we were mad at first, but then when you actually explain to people why it is that we made the decision, they start to understand and accept it as being a rational choice.

“In the summer we will be going to France for a two-month holiday, something we’d never have been able to do if we’d been skimping and saving in rented accommodation. You can’t spend your whole time saving up your money because life is short and it’s there to be enjoyed.”

LOS ANGELES (AP) — The average long-term U.S. mortgage rate climbed this week to its highest level since late November, another setback for home shoppers in what's traditionally the housing market's busiest time of the year.

The average rate on a 30-year mortgage rose to 7.17% from 7.1% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.43%.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also rose this week, lifting the average rate to 6.44% from 6.39% last week. A year ago, it averaged 5.71%, Freddie Mac said.

When mortgage rates rise, they can add hundreds of dollars a month in costs for borrowers, limiting how much they can afford at a time when the U.S. housing market remains constrained by relatively few homes for sale and rising home prices.

The average rate on a 30-year mortgage has now increased four weeks in a row. The latest uptick brings it to its highest level since November 30, when it was 7.22%.

After climbing to a 23-year high of 7.79% in October, the average rate on a 30-year mortgage had remained below 7% since early December amid expectations that inflation would ease enough this year for the Federal Reserve to begin cutting its short-term interest rate.

Mortgage rates are influenced by several factors, including how the bond market reacts to the Fed’s interest rate policy and the moves in the 10-year Treasury yield, which lenders use as a guide to pricing home loans.

Home loan rates have been mostly drifting higher after a string of reports this year showing inflation remaining hotter than forecast, which has stoked doubts over how soon the Fed might decide to start lowering its benchmark interest rate. The uncertainty has pushed up bond yields.

Top Fed officials themselves have said recently they could hold interest rates high for a while before getting full confidence inflation is heading down toward their target of 2%.

The rise in mortgage rates in recent weeks is an unwelcome trend for home shoppers this spring homebuying season. Sales of previously occupied U.S. homes fell last month as homebuyers contended with elevated mortgage rates and rising prices.

While easing mortgage rates helped push home sales higher in January and February, the average rate on a 30-year mortgage remains well above 5.1%, where was just two years ago.

That large gap between rates now and then has helped limit the number of previously occupied homes on the market because many homeowners who bought or refinanced more than two years ago are reluctant to sell and give up their fixed-rate mortgages below 3% or 4% — a trend real estate experts refer to as the “lock-in” effect.

“The jump in mortgage rates has taken the wind out of the sails of the mortgage market," said Bob Broeksmit, CEO of the Mortgage Bankers Association. "Along with weaker affordability conditions, the lock-in effect continues to suppress existing inventory levels as many homeowners remain unwilling to sell their home to buy a new one at a higher price and mortgage rate.”

Homebuilders have been able to mitigate the impact of elevated home loan borrowing costs this year by offering incentives, such as covering the cost to lower the mortgage rate homebuyers take on. That's helped spur sales of newly built single-family homes, which jumped 8.8% in March from a year earlier, according to the Commerce Department.

“With rates staying higher for longer, many homebuyers are adjusting, as evidenced by this week’s report that sales of newly built homes saw the biggest increase since December 2022,” said Sam Khater, Freddie Mac’s chief economist.

An "Under Contract" sign is displayed at a home in Wilmette, Ill., Thursday, March 28, 2024. On Thursday, April 25, 2024, Freddie Mac reports on this week’s average U.S. mortgage rates. (AP Photo/Nam Y. Huh)

An "Under Contract" sign is displayed at a home in Wilmette, Ill., Thursday, March 28, 2024. On Thursday, April 25, 2024, Freddie Mac reports on this week’s average U.S. mortgage rates. (AP Photo/Nam Y. Huh)

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