Paying off mortgage before 55 when single

A_Frayed_Knot

Dalradian wrote: »

Seeing how far I have come in a few years i am pretty positive.

And so you should, you have done brilliant reducing your mortgage to under £70000 :T :A :j :beer:


As for my payrise, that will certainly help reduce my mortgage :rotfl: £300 :j Oh, hold on, don't get too excited - that's a year, not every month

Dalradian

you spoilsport - but saying I am committing my payrise to paying off my mortgage / my pension / my savings sounds so satisfying, especially if you don't put a number on it.

I think they usually suggest putting half a payrise to savings but am pretty happy where I am just now and RPI fairly low so would rather leverage it to pay everything off earlier.

Whilst enjoying myself in the meantime

A_Frayed_Knot

Dalradian wrote: »

you spoilsport - but saying I am committing my payrise to paying off my mortgage / my pension / my savings sounds so satisfying, especially if you don't put a number on it.

I think they usually suggest putting half a payrise to savings but am pretty happy where I am just now and RPI fairly low so would rather leverage it to pay everything off earlier.

Whilst enjoying myself in the meantime

:rotfl: thought that might get you excited :rotfl: However, I got the house completely re-done when I bought 4 and a half years ago, and have been looking around, especially the hall and stairs, thinking it needs freshened up mammoth task, and no energy to do it right now.


Amazing, isn't it, what you can achieve when pushing yourself, I surprised myself, :eek: while still enjoying yourself All good.

gallygirl

Fantastic progress, well done :T. Is what needs doing to the house going to cost a lot of money? Can you see yourself living there long term? Why not do some of the work now, and enjoy it for years, rather than wait till mortgage is paid off and then do it? If it pushes back your MF date six months, that's still only a short time in the big scheme of things.

Moneyfordreams

Amazing results.. fantastic effort...
after a spendy summer, you've encouraged me to go back to basics.

Dalradian

lots has happened since i last posted. I have done some work on the house, which now means I looks at other areas and think I should do the same for them fairly soon...
I have also decided to sell my old flat since the market is so much better than when I moved at the bottom of the market. It really needs a full refurb, and the change in BTL tax means the hassle of managing it and keeping it up for am entry level flat without massive capital gains is too distracting.
Have an offer, which after fees, mortgage and capital gains tax I will hopefully have enough for financial independence even if I choose not to pay off the mortgage totally.

Dalradian

Also re-organised my cupboards and discovered loads of cans and jars of food I should use up alongside the freezer. so working my way through & trying not to go on too many top up shops until I have cleared the majority of it. Seeing the difference in food shop bills :-)

Dalradian

*whisper it* put my flat up for sale and sold it - might be mortgage free this year.

A_Frayed_Knot

Dalradian wrote: »

*whisper it* put my flat up for sale and sold it - might be mortgage free this year.

Will wait for your big announcement :j :beer: :T

SuperSecretSquirrel

Exciting times Dalradian!