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  • FIRST POST
    • Luckyinlife
    • By Luckyinlife 9th Feb 15, 5:39 PM
    • 1,609Posts
    • 6,036Thanks
    Luckyinlife
    Diary Mortgage Free Road To Change My Life
    • #1
    • 9th Feb 15, 5:39 PM
    Diary Mortgage Free Road To Change My Life 9th Feb 15 at 5:39 PM
    Hi guys thought id keep a Diary ON my road to mortgage freedom :] which is my dream

    Bit about me
    27 years old self employed have been now 2-3 years variable income
    Got son whos 4 now and live with family at the moment

    Facts and Figures
    House value 88.5k
    Deposit is 25% at £22125
    Leaving a mortgage of around 68k At month payments of £450 at 6.4% interest fixed for 2 years due to defaults ect which are settled

    Im due to find out this week if i got the mortgage or not so exciting times .
    There is a plan 2 if i don't which involves buying a cheaper house end of this year

    Im Starting this diary to keep a log but mainly for support from some of you guys who have been at this a while now or new comers

    Im going to have Account Named
    Mortgage Fund which starts at £30000 this includes deposit as of today which will all be for the mortgage overpayment at the end of this 2 years fixed

    Within this next month Im going to get a cheaper car and free up some funds which i can so the mortgage fund will be more which should add over 10k to the fund :]

    Mortgage fund -- £30000 Feb 9tth 2015

    Ill update as things move along :]
Page 44
    • EatingTheElephant
    • By EatingTheElephant 4th Feb 17, 7:58 AM
    • 1,072 Posts
    • 5,741 Thanks
    EatingTheElephant
    Good to see you back LiL, mortgage and EF figures look great.
    • Watty1
    • By Watty1 4th Feb 17, 9:07 AM
    • 2,740 Posts
    • 19,171 Thanks
    Watty1
    good to see you back
    Mortgage at start of diary Sept 2013: £132,995 Aug 2015 £0
    Overpaying next mortgage. £79,491 now £52963
    • SuperSecretSquirrel
    • By SuperSecretSquirrel 4th Feb 17, 9:56 AM
    • 563 Posts
    • 2,471 Thanks
    SuperSecretSquirrel
    Glad you're back LIL, was getting a little worried! Looks like you've been making good use of your time, I'm looking forward to more updates
    Mortgage [2013 £64k|2014 £51k|2015 £38k|2016 £26k] £17,933.21
    MN [2013-£25k|2014-£2k|2015+£16k|2016+£34k] +£44,269.86 (MFiT4:+60k)
    NW [2013 £126k|2014 £156k|2015 £190k|2016 £228k] £255,045.36 (2020:300k)
    FI [2013 -1.2%|2014 2.8%|2015 6.9%|2016 13%] 16%
    • A Frayed Knot
    • By A Frayed Knot 4th Feb 17, 10:27 AM
    • 2,089 Posts
    • 9,467 Thanks
    A Frayed Knot
    Nice to hear all's well and your busy, busy, busy.

    Garden must be coming on a treat, hope little Lil likes it. And you are nearing your target of that £60,000 Firegirl will be opening that bottle of fizz - very soon


    Oh, and by the way, if your looking to do something with your EF - my mortgage needs clearing

    Edit - Like my new signature 000.00 ?
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/£4000, 2015/£6294.69,2016/£3186.80
    2017 £2422.71 + Phantom o/ps 2017 -£1367.81 so far
    • Luckyinlife
    • By Luckyinlife 4th Feb 17, 12:55 PM
    • 1,609 Posts
    • 6,036 Thanks
    Luckyinlife
    Thanks guys such a nice bunch of people :]

    Garden is 80% done now got a week or 2 in the summer and will be sorted :]
    Ya i could OP to get under the 60k mark but i enjoy just chipping away at it... also i am at around 55% ltv i think now and i need to get a new package end of this year

    Id love to afk if i can have 50% of the value to your house how much it worth now ? whats the ltv hehe u have ?

    I love the sig hehe :] we would be lose without the debt come on haha
    Mortgage--- £67700 March 15 £65221 April 15 £64983 July 15 £64780 sept 15 Remortgage £67295 oct 15 £66599 Nov 15 £65878.73 Dec 15 £64834 1st Jan 16 Feb 16 £64,511.89 March 16 £64,056.40 April 16 £62550 May 16 £62,396.20 Feb 17 £60.800
    Emergency fund 23k
    • A Frayed Knot
    • By A Frayed Knot 4th Feb 17, 6:43 PM
    • 2,089 Posts
    • 9,467 Thanks
    A Frayed Knot
    Thanks guys such a nice bunch of people :]
    Id love to afk if i can have 50% of the value to your house how much it worth now ? whats the ltv hehe u have ?
    Originally posted by Luckyinlife
    Think you're in Dragon's Den ???


    I was thinking more like 10% in exchange for an investment of £22,000.
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/£4000, 2015/£6294.69,2016/£3186.80
    2017 £2422.71 + Phantom o/ps 2017 -£1367.81 so far
    • Luckyinlife
    • By Luckyinlife 5th Feb 17, 7:40 PM
    • 1,609 Posts
    • 6,036 Thanks
    Luckyinlife
    ok ill come down to 42.3% give u majority share holder status lol

    kind like that see haha
    Mortgage--- £67700 March 15 £65221 April 15 £64983 July 15 £64780 sept 15 Remortgage £67295 oct 15 £66599 Nov 15 £65878.73 Dec 15 £64834 1st Jan 16 Feb 16 £64,511.89 March 16 £64,056.40 April 16 £62550 May 16 £62,396.20 Feb 17 £60.800
    Emergency fund 23k
    • lippy1923
    • By lippy1923 5th Feb 17, 8:10 PM
    • 1,229 Posts
    • 3,426 Thanks
    lippy1923
    Welcome back LL. You have been missed. Great about the garden and EF looking good as always
    Total Mortgage OP £17,500
    House Value £250,000 Mortgage £94,187
    Emergency Fund £25,000

    • Firegirl
    • By Firegirl 15th Mar 17, 2:55 AM
    • 679 Posts
    • 2,786 Thanks
    Firegirl
    Great to see your still in one piece Lucky!!!

    Sounds like you've been really busy and have made great progress. Well done.
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022
    Current Mortgage Balance £199, 961
    Target for May 2018 - Somewhere inbetween 2 figures below!!
    19 Year Target Balance MF55= £205, 020
    14 Year Target Balance MF50= £191, 314
    • Cream Tea
    • By Cream Tea 16th Jul 17, 9:38 PM
    • 411 Posts
    • 1,957 Thanks
    Cream Tea
    I've been away for a while so thought I'd have a little catch up. You've done amazing things in the last 18months! What an inspiration as always LIL.
    CT
    Mortgage £269,432 £263,382 / MF date June'49 June'49
    Debt £27,798/£25,918 / Debt Free Est. July'21 Sept'2019

    Updated 15/8/17
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