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  • FIRST POST
    • Firegirl
    • By Firegirl 12th May 15, 8:29 AM
    • 701Posts
    • 2,851Thanks
    Firegirl
    FIRE Through The Mortgage - MF by 55 - LATEST
    • #1
    • 12th May 15, 8:29 AM
    FIRE Through The Mortgage - MF by 55 - LATEST 12th May 15 at 8:29 AM
    Hi Everyone,

    I've started a brand new diary!!!! I have decided I want to recalc my figures in line with retiring by 55.

    I'll keep you in suspense for now but I'll pop back later with some figures.

    19 Years - MF at 55
    May Year - Remaining debt
    May 2015 - £239,992
    May 2016 - £228,450
    May 2017 - £216,793
    May 2018 - £205,020
    May 2019 - £193,132
    May 2020 - £181,125
    May 2021 - £169,000
    May 2022 - £156, 754
    May 2023 - £144,388
    May 2024 - £131,898
    May 2025 - £119,286
    May 2026 - £106,548
    May 2027 - £93,684
    May 2028 - £80,693
    May 2029 - £67,574
    May 2030 - £54,324
    May 2031 - £40,943
    May 2032 - £27,430
    May 2033 - £13,783
    May 2034 - £0
    Last edited by Firegirl; 12-05-2015 at 10:21 AM. Reason: Adding Detail
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022
    Current Mortgage Balance £199, 345
    Target for May 2018 - Somewhere inbetween 2 figures below!!
    19 Year Target Balance MF55= £205, 020
    14 Year Target Balance MF50= £191, 314
Page 17
    • Firegirl
    • By Firegirl 15th Jul 17, 11:23 PM
    • 701 Posts
    • 2,851 Thanks
    Firegirl
    So here I am again!!!!! I've looked at lots of BTL property's and I know exactly what I'd buy if I'm brave enough.

    Slightly distracted by another possible contract. I have the offer and I've accepted and I hope to get the contract Monday!!!!! It's so exciting and I'll tell you more when it's a def goer!!! If it pulls off I could make serious inroads to paying off my mortgage or put it towards a BTL. I'm distracted by my BTL dream again because I'm busy setting up my limited company which is way to exciting in itself. It's more exciting for me than in real life cause really it's just a way for the contract to pay me.

    I'll keep you posted next week!
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022
    Current Mortgage Balance £199, 345
    Target for May 2018 - Somewhere inbetween 2 figures below!!
    19 Year Target Balance MF55= £205, 020
    14 Year Target Balance MF50= £191, 314
    • gallygirl
    • By gallygirl 16th Jul 17, 10:24 AM
    • 16,414 Posts
    • 107,580 Thanks
    gallygirl
    Exciting times FG, look forward to hearing about it all .
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    Mortgage Balance = £0
    "Do what others won't early in life so you can do what others can't later in life"
    • Firegirl
    • By Firegirl 29th Jul 17, 4:23 AM
    • 701 Posts
    • 2,851 Thanks
    Firegirl
    Quick update - so contract is secured! This is majorly great news

    I'm so excited! So I left 6 months ago with redundancy payment that went straight to my mortgage. Now I'm going back to the same place and getting paid as a contractor. Down side is I've no pension but the plan is that a BTL property would have that covered!

    Exciting times!
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022
    Current Mortgage Balance £199, 345
    Target for May 2018 - Somewhere inbetween 2 figures below!!
    19 Year Target Balance MF55= £205, 020
    14 Year Target Balance MF50= £191, 314
    • A Frayed Knot
    • By A Frayed Knot 29th Jul 17, 7:46 AM
    • 2,111 Posts
    • 9,526 Thanks
    A Frayed Knot
    Great news, funny how things turn out sometimes isn't it?

    And if you have a dream to buy a buy to let, then I'm sure you will achieve it, once things settle down, just keep watching and that bargain will eventually appear.

    Good Luck.
    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
    • Firegirl
    • By Firegirl 31st Jul 17, 4:07 PM
    • 701 Posts
    • 2,851 Thanks
    Firegirl
    Thanks AFK! It will take me a while I'm sure. But I do think within a year I should be moving on BTL.
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022
    Current Mortgage Balance £199, 345
    Target for May 2018 - Somewhere inbetween 2 figures below!!
    19 Year Target Balance MF55= £205, 020
    14 Year Target Balance MF50= £191, 314
    • lippy1923
    • By lippy1923 31st Jul 17, 4:42 PM
    • 1,230 Posts
    • 3,428 Thanks
    lippy1923
    That's great news. Glad things are working out for you
    Total Mortgage OP £17,500
    House Value £250,000 Mortgage £93,703
    Emergency Fund £25,500

    • Firegirl
    • By Firegirl 2nd Aug 17, 4:50 AM
    • 701 Posts
    • 2,851 Thanks
    Firegirl
    Thanks Lippy! Signature updated and only 1 more month until I get past the £200k barrier!
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022
    Current Mortgage Balance £199, 345
    Target for May 2018 - Somewhere inbetween 2 figures below!!
    19 Year Target Balance MF55= £205, 020
    14 Year Target Balance MF50= £191, 314
    • EatingTheElephant
    • By EatingTheElephant 2nd Aug 17, 6:59 AM
    • 1,099 Posts
    • 5,934 Thanks
    EatingTheElephant
    Congratulations on the contract
    • CathT
    • By CathT 2nd Aug 17, 8:59 AM
    • 5,283 Posts
    • 36,314 Thanks
    CathT
    Great news about the contract and do keep us updated about the BTL plans.
    August 2017 -
    part 1 - £79,967
    part 2 - £46,351
    Total - £126,318
    • Firegirl
    • By Firegirl 7th Aug 17, 10:03 PM
    • 701 Posts
    • 2,851 Thanks
    Firegirl
    Thanks for the comments everyone!!!

    So I had my first day contracting today! I still can't believe it's all worked out! I'm very tempted to call the bank and pay some of the offset to the mortgage to get it below 200k. Trying to be patient!
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022
    Current Mortgage Balance £199, 345
    Target for May 2018 - Somewhere inbetween 2 figures below!!
    19 Year Target Balance MF55= £205, 020
    14 Year Target Balance MF50= £191, 314
    • shangaijimmy
    • By shangaijimmy 7th Aug 17, 10:47 PM
    • 2,198 Posts
    • 10,035 Thanks
    shangaijimmy
    Patience isn't a trait of MFW's!
    MFW: Turning June 2036 into March 2023... 30//120 Payments Challenge, Diary Reduction £32,077.72
    Aug 2009: £163,051 // Current: £103,922.28 // Avg Daily Interest £4.67
    MFiT-T4 #8 - 47.86% of £41,000
    • Firegirl
    • By Firegirl 8th Aug 17, 12:12 AM
    • 701 Posts
    • 2,851 Thanks
    Firegirl
    That is very true!
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022
    Current Mortgage Balance £199, 345
    Target for May 2018 - Somewhere inbetween 2 figures below!!
    19 Year Target Balance MF55= £205, 020
    14 Year Target Balance MF50= £191, 314
    • Karmacat
    • By Karmacat 8th Aug 17, 10:19 AM
    • 27,710 Posts
    • 151,397 Thanks
    Karmacat
    So its going really well!
    Retired August 2016
    • Watty1
    • By Watty1 8th Aug 17, 11:09 AM
    • 2,765 Posts
    • 19,302 Thanks
    Watty1
    Just caught up. Excellent news!
    Mortgage at start of diary Sept 2013: £132,995 Aug 2015 £0
    Overpaying next mortgage. £79,491 now £52963
    • greent
    • By greent 8th Aug 17, 12:47 PM
    • 6,181 Posts
    • 62,661 Thanks
    greent
    Glad all sounding good, fg
    x
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) Bal 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    Next: BTL Mtge 12/16 £69786. 2017 OPs (#18) £4151/£3286
    Net sales 2017 £1152.39/£500 PAYDOX17 £11333/£10k Decluttered 1515/2017 items
    • Cream Tea
    • By Cream Tea 9th Aug 17, 10:35 AM
    • 419 Posts
    • 1,983 Thanks
    Cream Tea
    Just caught upon the last 18months of your diary and what a roller coaster! I am pleased it's all going in your favour after you're redundancy. CT
    Mortgage £269,432 £262,860 / MF date June'49 June'49
    Debt £27,798/£24,829 / Debt Free Est. July'21 Sept'2019

    Updated 01/09/17
    • Firegirl
    • By Firegirl 9th Aug 17, 4:02 PM
    • 701 Posts
    • 2,851 Thanks
    Firegirl
    So SJ was right! I called the bank and paid £500 to my mortgage!!!

    Was very excited but when I look at the figure it almost looks like more and I think it's cause of all the 9s in it!!!! Totally psychological I know!!!

    Besides the strange workings of my brain I am really delighted to break the 200k barrier
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022
    Current Mortgage Balance £199, 345
    Target for May 2018 - Somewhere inbetween 2 figures below!!
    19 Year Target Balance MF55= £205, 020
    14 Year Target Balance MF50= £191, 314
    • Firegirl
    • By Firegirl 14th Aug 17, 9:11 PM
    • 701 Posts
    • 2,851 Thanks
    Firegirl
    Food shop this week for family £36.43!!!

    Yes I have stored way to much in the freezer!!! Freezer audit complete and shopping lists that I'm not allowed to stray from for the next few weeks!

    Save the pennies!!!
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022
    Current Mortgage Balance £199, 345
    Target for May 2018 - Somewhere inbetween 2 figures below!!
    19 Year Target Balance MF55= £205, 020
    14 Year Target Balance MF50= £191, 314
    • Firegirl
    • By Firegirl 15th Aug 17, 4:20 AM
    • 701 Posts
    • 2,851 Thanks
    Firegirl
    Trying to make the most of company expenses keeping me awake at night
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022
    Current Mortgage Balance £199, 345
    Target for May 2018 - Somewhere inbetween 2 figures below!!
    19 Year Target Balance MF55= £205, 020
    14 Year Target Balance MF50= £191, 314
    • A Frayed Knot
    • By A Frayed Knot 15th Aug 17, 7:29 AM
    • 2,111 Posts
    • 9,526 Thanks
    A Frayed Knot
    So SJ was right! I called the bank and paid £500 to my mortgage!!!

    Was very excited but when I look at the figure it almost looks like more and I think it's cause of all the 9s in it!!!! Totally psychological I know!!!

    Besides the strange workings of my brain I am really delighted to break the 200k barrier
    Originally posted by Firegirl
    I know exactly what you mean, hence my knotty payments getting my balance to end in 0.00

    I'm glad someone else's brain works the same as mine. & well done breaking the barrier
    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
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