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The impossible dream
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How nice to be getting the drive done. We got ours quoted for but decided not to spend the money yet - especially as we have so much CC debt to still clear.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 -
To be fair, it isn't something I would choose to pay for at this time, but needs must. Paying down the CC is really the sensible thing to do.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 -
Have you had it done yet?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 -
Hi SH, yes it was completed on Thursday. Looks great. Just need to try to replace the money spent. This may take some time as TUI still haven't refunded me. So, I have been ebaying. Something I have been promising to do for years. No bids as yet, but small steps. I don't expect to make up the money spent in full, just to have some other income coming in, which means I am not having to spend more on the small things. Every little helps.
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 -
Glad re-laying the drive was worthwhile. We plan to do ours at some point.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 -
It's good to have something smart and functional too
I can justify lots of things
Mortgage restart June 2018 £119950Re mortgage August 19 £110470, … Mortgage November 22 £85600 final 0% CC 3300Home renovations - £65000, mid 2018 - mid 20223 -
News of the week - TUI Crystal have finally refunded my money. And I dutifully purchased my Premium Bonds again. Perhaps I will have a bit of good luck with new numbers.
Lock-down going ok. Work is getting busier. All is well. Still cooking up a storm. Love making ice cream! Guacamole tomorrow.
Two items selling on ebay. Had the stupidest offer on another item. I politely told them where to go. What I thought was sad was that this is a 'luxury' item. It is not something a person 'needs', but it could be something a person needs to sell because they have lost their job, they are being furloughed, any number of reasons they need money. This person offered such a ridiculously low offer, perhaps based on the fact that I might be desperate for money, so they could get away with taking advantage of someones misfortunes in that manner. Really sad. I just told them to go and see if they could find another item like it within their price range!
Otherwise, all good. Mortgage coming down slowly. My cunning plan is to ensure that I pay off one of the mortgages next year at renewal. It will be great to only have one mortgage loan, rather than the mortgage being split in two. Renewal date is in March 2021. Really hope that no other catastrophes befall me, stopping me from achieving this aim.
Won't be making another mortgage payment this month, so will start June 2020 owing £63,500. As on track as I can be.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 would be great to completely pay off one mortgage. How much is that one?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 29/7/250 -
The big one is £41k and the small one is £22,500. They were taken out at the same time, but the bank called one the mortgage and the other additional borrowing. Perhaps because when I came to them, the other bank had split it accordingly. I thought they would put them together, but they didn't. No bother. I just keep paying them until they finish. But £22,500 seems doable. Even if I am not quite there by next March, I could pull from the big, to pay down the small, just to get rid of the small and still be in the same place, with just 1 mortgage.
Definite plan. When I come to renew my 2 year fixed rate in March, I will only renew one of them. This will be great. Feeling very positive. My plan is to owe £45k at the most next March 2020. If I can be near that mark, I will be over the moon.
Another positive is that one of my ebay items end tonight, so I am very pleased with this. Once it is gone, I will list another item. Can't rush these things! The other item that I was being offered silly money for has 22 watchers and ends tomorrow. Lets hope they get into a bidding frenzy and I actually get more than my starting price.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 -
Al the best with the selling. Great plan to get rid of close to a third of your mortgage in a year. That truly would be a fab result.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
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