The "Mortgage-free in 2025-30" club!

Baby_Angel

I don't live in the UK anymore since 2017. No matter where you live the financial goals never change. I hope I can still post and cheer everyone on here. 

Since selling up in London and moving to a country side in Germany, I became debt free. That was back in April 2018  (original DFW by 2016 - better late than never ) 
Went on to buy a much larger house and now target to be MF by 31.12.2022. It is a real stretch (€45K outstanding as of now), but lessons learnt from MSE are still being applied in our household and we are determined to make it work. Failing that we should be MF a year later in 2023 (original MFW by 2025). We also have a BTL, which we are not planning on paying it off. But that would be MF by 2037. But the BTL is paying itself, so fingers crossed it will continue that way without major maintenance expenses. 

Like bubblycrazy says, time flies. So make your plans and sit tight. Good luck everyone. 

Nurse2047

How’s everyone doing so far? 

purplevamp

MFW2026 said:

How’s everyone doing so far? 

Not great.  I haven't managed to overpay at all for a couple of years

clarew

Still plodding on, paying £300 a month extra was doing £500 but needed to reduce, still enjoy seeing that it’s due to finish (if I keep on schedule) in 2025 rather than 2028.
may not seem a massive thing but 3 years earlier and we’ve upsized to bigger properties twice in the time we took our the mortgage in 2000 and doubled the mortgage amount in that time too!  So to keep on track with our original end date 25yrs from first mortgage on a 2 bed place, to finishing in a 4 bed detached in the same time plus bringing up 4 dependents is making me very happy 😊

Nurse2047

I’m still hoping and 🤞 for 2026 - 2029 set up regular OPs and hoping nothing breaks in the house or we need to divert that money anywhere else. Dreaming of being mortgage free 🥰

smetf

Love this idea 

Just been reading through all the posts. Have joined the MFiT T6 challenge with a plan to reduce mortgage to 60k.

I've always had the dream of being MF by 50 which is in 5 years in 2027 but having moved to part-time temporary work in September last year in order to home educate our youngest for a year I'm not sure it's completely realistic. But hopefully somewhere between there and 2030 should be achievable! 

purplevamp

Finally paid £498 off the mortgage, first payment in over 2 years.  Just knocked a month off the term.  Not much but a step in the right direction.

clarew

Wow-haven’t posted here in a year yikes!  But still overpaying which is the main thing.

was Paying £300 extra as had to reduce it a bit, but have taken the plunge and added another £40 from today, so £340 extra a month.

Aiming to finish some point in mid 2025….depending on what going on svr in April 2024 does to our finances-although by then we should have circa £14k left so hopefully it won’t massively increase interest payment.  

Really exciting to think that literally in 2 years mortgage should be done-although then the payments may remain going out of our accounts ready for new windows and house maintenance 🤣. But at least the house will be ours before we are 50 and having raised 4 young boys to men at the same time and upsized property twice.  Does make me feel proud of what our hard work and determination has achieved.

oh and as ever I was most excited on New Year’s Eve to do my Tilly tidy so remaining mortgage ended the year on £28,900.00. 

This morning I see £1.65 interest added already….it was a nice round number overnight at least!

good luck to all the mortgage free in 2025-30s it seemed an age away when we started but here we are nearly at the finish line 👏🏻👏🏻

smetf

I'm still plodding on - happy with the balance we have and although being mortgage free by 50 (2027) will be a real stretch, being mortgage free by 2030 should still be doable. 
First OPs of 2023 made today.

_Dolly_Rocker_

Hey all, 

Haven't had a chance to read through all of the comments but I would love to join in and get started on paying my mortgage off early!

I bought a ground floor 2 bedroom flat in March 2021 and tbh as much as I would love a house I don't really need it. I have a back and front door, private front and back garden so it's perfect for me. 

This year I'm paying off the debt, ideally I want this cleared by December but realistically it might take me till March 2024. 

Once that is PIF I can make some overpayments to the mortgage. 

I am saving for retirement already, I've got a Moneybox Lifetime ISA which I am saving £200 a month in. I had to open that account before I was 40 in March so just started with the deposits now. 

_Dolly_Rocker_ || original MF date 2036 || target 2030 || Goal: Pay the debt and mortgage. Save an emergency fund. Save for retirement. Have fun!

Thanks, Dolly