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    • ajmoney
    • By ajmoney 5th Aug 16, 10:50 AM
    • 4,852Posts
    • 55,531Thanks
    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.
    2018 MFW No. 70 £500/£6000
    MFiT-T4 No. 70 £22444.95/£29544
    Mortgage £116574.84 Savings £87991.97
    Total left to pay/save £28582.87
Page 12
    • ajmoney
    • By ajmoney 12th Jan 18, 2:51 PM
    • 4,852 Posts
    • 55,531 Thanks
    I nearly didn't go out for a walk but I am so glad I did. The weather was lovely, not too cold. I tried to go out as if seeing the views for the first time, took some photos, saw a few birds and then walked back chatting to a lovely lady.

    I have an hour to myself and am going to read some more of my book before the weekend starts.
    2018 MFW No. 70 £500/£6000
    MFiT-T4 No. 70 £22444.95/£29544
    Mortgage £116574.84 Savings £87991.97
    Total left to pay/save £28582.87
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