FIRE Through The Mortgage - MF by 55 - LATEST

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  • Moneyfordreams
    Moneyfordreams Posts: 2,442 Forumite
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    I want my mortgage gone in 8.5 years.. i think committing to a ten yr plan would potentially put us at risk if i couldn't keep the payments or then incur early redemption charge. I did have a 5 year fix in 2007 and was furious with myself when the rates bombed as i was to revert to tracker... I only has 6 months of 0.5% before i had to extend mortgage. I'm hoping for a 5 year fix next year if rates are still low to OP to my target
    Mortgage restart June 2018 £119950Re mortgage August 19 £110470, … Mortgage November 22 £85600 final 0% CC 3300Home renovations - £65000, mid 2018 - mid 2022
  • Firegirl
    Firegirl Posts: 933 Forumite
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    I have a really low rate at the moment 0.49 above base and I've done some calcs and I think it's unlikely it would benefit me but I would just love to have the security of fixed at the rates around at the mo! My first flat interest rate Was higher than the 10year fixed!

    If your thinking of 5 year fixed then still look at 10 because there are some that your only tied in for the first 7 years. I haven't really looked at it properly though.
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535

    Retirement Planning
    Starting Position : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,500
  • Firegirl
    Firegirl Posts: 933 Forumite
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    Got a coin in my change and it was nice and shiny so a shoved it in my pocket. Forgot about it and found it today and looked it up on eBay and it's going for £300!! Crazy!
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535

    Retirement Planning
    Starting Position : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,500
  • Firegirl
    Firegirl Posts: 933 Forumite
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    Updated sig-no big milestone this month!
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535

    Retirement Planning
    Starting Position : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,500
  • Karmacat
    Karmacat Posts: 39,460 Forumite
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    Spectacular on the coin! Well done!
    2023: the year I get to buy a car
  • Firegirl
    Firegirl Posts: 933 Forumite
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    I'm having no luck on eBay at the moment:(
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535

    Retirement Planning
    Starting Position : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,500
  • A_Frayed_Knot
    A_Frayed_Knot Posts: 3,296 Forumite
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    Firegirl wrote: »
    Got a coin in my change and it was nice and shiny so a shoved it in my pocket. Forgot about it and found it today and looked it up on eBay and it's going for £300!! Crazy!


    :j Please tell us more :D Are you keeping it, or selling it. As for eb@y, I took my listings off, when chromebook went in for repair and have not re-listed yet :o
    Always have 00.00 at the end of your mortgage and one day it will all be 0's :dance:
    MF[STRIKE] March 2030[/STRIKE] Yes that does say 2030 :eek: Mortgage Free 21.12.18 _party_
    Now a Part Timer from 27.10.19
  • Firegirl
    Firegirl Posts: 933 Forumite
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    I've decided to keep the coin for the kids when they are older and I've got my son into looking at his change! It's actually hilarious! Poor child will be looking for the rest of his life:)
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535

    Retirement Planning
    Starting Position : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,500
  • Karmacat
    Karmacat Posts: 39,460 Forumite
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    Firegirl, remember the values of these things change all the time - unless its also got value as a precious metal. But good luck with it, I hope it increases all the time!
    2023: the year I get to buy a car
  • A_Frayed_Knot
    A_Frayed_Knot Posts: 3,296 Forumite
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    Firegirl wrote: »
    I've decided to keep the coin for the kids when they are older and I've got my son into looking at his change! It's actually hilarious! Poor child will be looking for the rest of his life:)[/QUOTE]


    He's not the only one, I have a nice (small) collection as I do keep all the odd notes I come across, have done since starting work, and was in charge of petty cash and wages* :) and unusual coins, had a 20p once that looked odd, tried to find the date, no date, and dismissed the person that told me there was always a date on the coins as talking rubbish :o :mad:how I wished I had listed to them :mad: now.

    * I did replace them, not just keep them :rotfl::rotfl::rotfl: from petty cash and wages :D
    Always have 00.00 at the end of your mortgage and one day it will all be 0's :dance:
    MF[STRIKE] March 2030[/STRIKE] Yes that does say 2030 :eek: Mortgage Free 21.12.18 _party_
    Now a Part Timer from 27.10.19
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