FIRE Through The Mortgage - MF by 55 - LATEST

cookie9

Well done on your progress. Sorry to hear about the redundancies.

Firegirl

Thanks cookie. I've never heard of someone being made redundant and still sad about it a year later. It'll work out I'm sure but extra motivation to blast this stonker of a mortgage this year in prep. I've a lot of nice holiday clothes will do well on eBay if I get myself organised! Never worn this year so won't wear for another holiday id say!

Firegirl

So my mobile phone is still in contract but I thought I'd chance my arm and ask for a discount on my bill because it was too high. They gave me a £7 a month discount! Not bad for literally a 2 min phone call!!!

Also worked out that if I pay off £100 of my mortgage I save just over £20. That's gonna keep me going as a new motivator.

No more news on redundancies yet and it will all happen over the next year and a half. Hopefully I'll get a bit longer out of it. I'm part time and have an amazing work/life balance but that might all change at some point.

debtfreeoneday

I'm fatal at car boots and spend my profits!

Keiths1985

Just reading through a few diaries on here for advice and motivation.


One thing that was mentioned earlier on was buy to let properties. I work in the property sector so it has always been a keen interest of mine, the only drawback is I've witnessed some landlords having a nightmare of a time with dodgy tenants or long periods of no tenant at all leaving them out of pocket as they still have to cover the mortgage. Now admittedly that isn't the norm, but having all my eggs in one basket concerns me and I'd much rather spread the risk.


Has anyone looked at property crowd funding? There's a company called Property Partner (google them) who are one a few companies that allow you to invest small amounts in numerous BTL properties. They buy the property and then it gets funded by investors (£50 minimum). Your investment gets you a number of shares, and you are paid the monthly income generated as a percentage of how much you own (not sure that makes sense but hopefully you get the gist!). After 3 years they take a vote amongst all shareholders of the property to either sell it (and hopefully benefit from capital gain), or keep it rented out. They have numerous properties on their portal and new ones are added regularly. If you want to release your funds earlier, you can sell your shares on their marketplace for another investor to buy from you (similar concept to Funding Circle if anyone uses that). Admittedly I haven't actually invested anything yet, but I like the idea. Instead of using say a £30k deposit to buy one BTL you own yourself, your could spread that money and buy smaller amounts of lots of properties and therefore spread your risk. Seems like a good idea to me but wondering if it's too good to be true, or if anyone has any experience of this company or any similar?

Firegirl

I've never heard of this. I'll have a look but I think it's more about the bricks and mortar for me and I'm not sure if I'll ever actually do it tbh. I've invested in property funds before.

Firegirl

Sig updated again this month. I've changed things round a bit. I've sorted out in comings and outgoings and made them balance.

I've reduced my regular payment meaning that I will have surplus funds to move to my mortgage each month. Much more motivating than trying to not go in the red. Also means I can have my savings in higher interest current account without being worried that all the savings will drift away.

Updated sig and I've broken another 1k barrier this month! Horray!!

Firegirl

Worked from home today and saved £3 that I would have spent on the bus.

Also lost my purse and some kind person actually handed it in!!!! Delighted:0) nice peops out there sometimes!!! It was s designer wallet too so I was really lucky!!!!

Going to add my £3 to mortgage from saved bus journey. It all adds up!

A few people have left work now with redundancy looming so hopefully that leaves the people that's are left a bit safer. Sad times saying goodbye to nice collegues though!!!

gallygirl

Firegirl wrote: »

Also lost my purse and some kind person actually handed it in!!!! Delighted:0) nice peops out there sometimes!!! It was s designer wallet too so I was really lucky!!!!

How lovely :T:T:T

Luckyinlife

Thats really nice who ever handed it in :]

Every little helps fire if everyone did that i bet it would make a massive difference over the years

How do you feel the last few months have been for you since we joined here you think youv changed much ?