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The impossible dream
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Thanks Savings, had a good one even if it was a bit short.
Did a quick calculation - based on my rate of repayment at present, assuming there are no major catastrophies, I have 25 payments to make before I am mortgage free.
I used to have a brick house, that was given to me by @gallygirl, on here a long time ago. You fill in each brick once you have bought it, a visual representation of you buying your home. I think I may dig it out and re-introduce it!
So, June 2024, I should be mortgage free! I will start counting down and see if I can do anything to reduce it further. 25 payments is so close!! The difference between then and now, is that I have no reason to buy other properties, which is why it has taken this length of time to clear the mortgage. This time, it is just me and the end date, with no distractions or big purchases to get in the way.
I am so happy with this end date. So happy, I think I will find something to sell!What I do not give, you must never take by force.
Mortgage outstanding - 30/12/22 - £25,900. 31/01/23 - £22,300. 28/02/23 - £20,500. 31/03/23 - £17,500. 30/04/23 - £15,800. 30/05/23 - £13,800. 31/06/23 - £11,300. 31/07/23 - £9,800. 31/08/23 - £8,300. 30/09/23 - £6,000. 31/10/23 - £3,000. 30/11/23 - £1,200. 06/12/23 - £00.00
God save us everyone, As we burn inside the fire of a thousand suns, For the sins of our hands, The sins of our tongues, The sins of our fathers, The sins of our young. Linkin Park2 -
It's lovely the end is in sight. Visual representations can really help. Make sure you show how far you've come not just how far you've got left to go.
Good luck with selling too.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £174.8K Equity 32.77%
2) £2.6K Net savings after CCs 6/7/25
3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
4) FI Age 60 income target £16.5/30K 55.1%
5) SIPP £4.8K updated 29/7/252 -
Thanks for the kind words Savings! And in true Moneysaving style, I have just been paid £11.11 by Prolific and £1.00 by GFK.
Every little helps towards the end goal. And yes, you are right. I should take the time to reflect on where I have come from to get to this point. Sometimes, you can get lost in the 'I am failing because I haven't achieved' mindset, but the reality is that I am not failing, have a lot of money in property and I should remember that. I am extremely lucky that if everything goes pear shaped, I can sell and raise capital. Yes, I am lucky to have choices and things have gone my way, despite the low points I have encountered on the journey.
The worst things today? My boss actually expects me to work for my salary, and the outside furniture cushions are getting soaked by the rain because I forgot to put them away last night. I am truly blessed if this is all I have to worry about. First World problems.
The other milestone is that I have been writing on this forum since August 2013 and I am now on page 100! Next year will be 10 years. I am so shocked I managed to stay with it! I want to be on here when I finally say I am mortgage free!
What I do not give, you must never take by force.
Mortgage outstanding - 30/12/22 - £25,900. 31/01/23 - £22,300. 28/02/23 - £20,500. 31/03/23 - £17,500. 30/04/23 - £15,800. 30/05/23 - £13,800. 31/06/23 - £11,300. 31/07/23 - £9,800. 31/08/23 - £8,300. 30/09/23 - £6,000. 31/10/23 - £3,000. 30/11/23 - £1,200. 06/12/23 - £00.00
God save us everyone, As we burn inside the fire of a thousand suns, For the sins of our hands, The sins of our tongues, The sins of our fathers, The sins of our young. Linkin Park2 -
Well done with sticking with the plan.
I'm made up that I got to the end of £70K's worth of debt. It felt impossible. Now need to apply those skills to becoming mortgage free / neutral.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £174.8K Equity 32.77%
2) £2.6K Net savings after CCs 6/7/25
3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
4) FI Age 60 income target £16.5/30K 55.1%
5) SIPP £4.8K updated 29/7/251 -
Savings, with your drive and determination, I have absolutely no doubt you will be mortgage neutral/free in the near future!What I do not give, you must never take by force.
Mortgage outstanding - 30/12/22 - £25,900. 31/01/23 - £22,300. 28/02/23 - £20,500. 31/03/23 - £17,500. 30/04/23 - £15,800. 30/05/23 - £13,800. 31/06/23 - £11,300. 31/07/23 - £9,800. 31/08/23 - £8,300. 30/09/23 - £6,000. 31/10/23 - £3,000. 30/11/23 - £1,200. 06/12/23 - £00.00
God save us everyone, As we burn inside the fire of a thousand suns, For the sins of our hands, The sins of our tongues, The sins of our fathers, The sins of our young. Linkin Park1 -
Well done T and also SH. 25 months will go quickly and you’ll be there. I hope you continue to stick with your diary so we can celebrate properly when the time comes.Save £12k in 25 No 49
PB Win 21 £225, 22 £275, 23 £900, 24 £750 Balance Dec 25 £32.7K
Plan to move to Denmark for FIRE by Autumn 2025 “May your decisions reflect your hopes not your fears”
New diary aiming for fire https://forums.moneysavingexpert.com/discussion/6414795/mortgage-free-now-aiming-for-fire#latest2 -
So, big shock!! Extra! Extra! Read all about it!! The builders are here doing the chimney!!!! I am so shocked. It really is happening!
And, the Garden Office should be here on Friday!
And the Calor Gas tank was filled yesterday!
It's all happening! Soon, the scaffolding will be gone and my chimney will be done and I will be able to sit in my office to work! All a mad dream!
I have had another epiphany. Of course, it involves more work and disruption, but still worth it I think. I have a really small kitchen in this house. It is well appointed and has everything in it that should be in a kitchen. But, I am now thinking about moving the washing machine upstairs into the bathroom. I have a large bathroom and can fit it into a cupboard, without disrupting the bathroom much. Just water in, waste out and a power supply. OK, I have to get the washing machine upstairs, but how do they get them into flats with no lift? So, this is my next cunning plan. This will free up a 600 base unit, which will give more storage space in the kitchen, so win-win.
Evidently, washing machines in kitchens are a very British concept. Other countries house them in a utility room, if you are lucky enough to have the space or the bathroom, as it's where you take off your dirty clothes. Why not just wash them upstairs and leave the kitchen for cooking?
Anyway, my next plan of action coming soon.
I wish I had the ability to complete a job before starting another one! Whatever, this house will eventually be how I want it!What I do not give, you must never take by force.
Mortgage outstanding - 30/12/22 - £25,900. 31/01/23 - £22,300. 28/02/23 - £20,500. 31/03/23 - £17,500. 30/04/23 - £15,800. 30/05/23 - £13,800. 31/06/23 - £11,300. 31/07/23 - £9,800. 31/08/23 - £8,300. 30/09/23 - £6,000. 31/10/23 - £3,000. 30/11/23 - £1,200. 06/12/23 - £00.00
God save us everyone, As we burn inside the fire of a thousand suns, For the sins of our hands, The sins of our tongues, The sins of our fathers, The sins of our young. Linkin Park2 -
Sounds exciting I’ve got mine in the kitchen but wish I had put it in a large ex airing cupboard next to the bathroom. You’ll have to share pictures of the view from your new desk.Save £12k in 25 No 49
PB Win 21 £225, 22 £275, 23 £900, 24 £750 Balance Dec 25 £32.7K
Plan to move to Denmark for FIRE by Autumn 2025 “May your decisions reflect your hopes not your fears”
New diary aiming for fire https://forums.moneysavingexpert.com/discussion/6414795/mortgage-free-now-aiming-for-fire#latest1 -
Will do TG! Can you not move the washing machine? Don't you have the airing cupboard any more?What I do not give, you must never take by force.
Mortgage outstanding - 30/12/22 - £25,900. 31/01/23 - £22,300. 28/02/23 - £20,500. 31/03/23 - £17,500. 30/04/23 - £15,800. 30/05/23 - £13,800. 31/06/23 - £11,300. 31/07/23 - £9,800. 31/08/23 - £8,300. 30/09/23 - £6,000. 31/10/23 - £3,000. 30/11/23 - £1,200. 06/12/23 - £00.00
God save us everyone, As we burn inside the fire of a thousand suns, For the sins of our hands, The sins of our tongues, The sins of our fathers, The sins of our young. Linkin Park1 -
Yeay! - glad things are finally happening!!
Re the WM, I think that plug sockets can't go in a UK bathroom unless 3m from the bath/ shower - that may impact on whether you can move it or notI am the master of my fate; I am the captain of my soulRepaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NILNet sales 2024: £201
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