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    • ajmoney
    • By ajmoney 5th Aug 16, 10:50 AM
    • 4,817Posts
    • 55,356Thanks
    Project Mortgage Neutral Begins
    • #1
    • 5th Aug 16, 10:50 AM
    Project Mortgage Neutral Begins 5th Aug 16 at 10:50 AM
    Hi. We have just remortgaged on our larger product and while mortgage freedom is still the ultimate goal I am working on the smaller challenge of mortgage neutral first.

    We have a smaller mortgage that we transferred when we moved 5 years ago and a larger mortgage that topped it up.

    Mortgage 1

    Total £32097.21
    Interest 2.68%
    Redemption Date Februray 2030
    This is a tracker mortgage, we are not tied into anything but the deal is so good that unless things change substantially I don't intend to change this.

    Mortgage 2

    Total £103615.51
    Interest 1.74%
    Redemption Date February 2030
    This a tracker mortgage too with the current deal ending in August 2018.

    First and foremost I want to get rid of the larger mortgage even though it has the lower interest rate as it is the biggest debt and is the one product we have that could be a struggle if we ever got stupid interest rates.

    We are due to hit mortgage neutral in July 2021. This is worked out with all our mortgage rates staying the same and not receiving any interest on our savings. I am hoping the fluctuations in these will even each other out.

    While Mr AJM is happy to reach mortgage neutral, mortgage free and therefore retire early this a solo journey with it all being my effort. We haven't changed our lifestyle at all so there are always other things we can do but this is not so important to us at the moment.

    I will add more as the next few days go by. Recently I have been guilty of ignoring my thread but I am hoping starting a new thread will get me on here a little bit more.
    2017 MFW No. 70 £4252.03/£5500
    MFiT-T4 No. 70 £18353.52/£29544
    Mortgage £121362.76 Savings £85242.15
    Total left to pay/save £36120.61
Page 10
    • Downshifterella
    • By Downshifterella 12th Sep 17, 10:00 PM
    • 55 Posts
    • 270 Thanks
    Fab well done on the putting you and your family first, it can be so easy to get things totally out of balance otherwise...been there... (Still a bit there! But good reading others ideas of trying to re balance!)

    Well done on signing up for the runs and on finishing the great North run! Love a run for clearing my head...and having a focus!

    Well done!
    MF planning for the simple life
    • ajmoney
    • By ajmoney 12th Sep 17, 10:21 PM
    • 4,817 Posts
    • 55,356 Thanks
    I can slowly feel the real me trying to peak out the cloud of stress. I woke up early and went out for a short jog before my alarm went off. I won't be breaking any records for speed or time but I have to start back somewhere. Went for another swim this afternoon, I find it really clears my head.

    Tried to do an action plan this morning to help plan and organise but wasn't very successful, I will try again at some point.
    2017 MFW No. 70 £4252.03/£5500
    MFiT-T4 No. 70 £18353.52/£29544
    Mortgage £121362.76 Savings £85242.15
    Total left to pay/save £36120.61
    • Tilly MFW in 6 YRS
    • By Tilly MFW in 6 YRS 13th Sep 17, 8:04 AM
    • 7,745 Posts
    • 86,426 Thanks
    Tilly MFW in 6 YRS
    Great post to read first thing AJ ❤️

    Tilly xxx
    2004 £387k 29 years - MF March 2033
    2011 £309k 10 years - MF March 2021.
    Achieved Goal: 28/08/15
    • ajmoney
    • By ajmoney 15th Sep 17, 8:23 AM
    • 4,817 Posts
    • 55,356 Thanks
    I don't think I have felt any panic this week so the changes I am making are working. I still have plenty to do at work so I need to keep up with me-time to make sure I can stay in control.

    On Wednesday I went for a walk in the evening and had to wear my winter coat for the first time as it was so cold yesterday I went for another walk/run and a swim, I nearly talked myself out of doing bothand so glad I didn't.

    I am at home today, my first week day off on my own for quite a long time. Ironically this is when I start to feel low so I determined to do something with my day, it is beautiful so I think I will start with a nice walk along the coastal path.

    Not much to report money wise, I am not spending much money though so I guess it is all good.
    2017 MFW No. 70 £4252.03/£5500
    MFiT-T4 No. 70 £18353.52/£29544
    Mortgage £121362.76 Savings £85242.15
    Total left to pay/save £36120.61
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