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By Sea by Land !

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13

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  • Firegirl
    Firegirl Posts: 1,007 Forumite
    Tenth Anniversary 500 Posts Name Dropper
    Just popped over to say hello!!! Good luck on your journey!!!
    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 (Jan 2024) : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,500
  • Actually pinched my name off a boat that I have in my bathroom;) - its up on its end and has shelves in it (Oh, should mention, its not a real boat:D) but like the double meaning to the name (afraid not) and was appriopriate for me - "not afraid" of taking on a mortgage so late in life:eek:

    To work out LTV, I think you take what you owe on your mortgage and divide it by value of property then add 2 "00". Try it and see if it works.
    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
  • I found you! :)


    We have slashed our outgoings right down, so for us the extra money to OP with has to come from additional income. Thrown everything on ebay and facebook selling groups that has a value of sorts, Air BnB is also proving a great little earner.


    Have you thought of posting an SOA? Best wishes on your journey I will be reading and cheering you on xx
    MFW :)
    [STRIKE]Mortgage 8.2.15 - [/STRIKE][STRIKE]£171,064.64[/STRIKE] Mortgage 1.5.2018 - £99,980.45
    Aiming to be MF 1.10.2020
  • Petal88 wrote: »
    Do you have anything that you could sell on eB@y perhaps? Or perhaps rather than earning more you could reduce some expenses? I find that my biggest expenditure each month is my grocery bill so I'm trying to cut that down at the moment, but you maybe have a pricey Sky package or something that you could live without and put the difference towards your mortgage each month?

    Hello Petal,

    I sold a few bits on ebay a while back and i already put that on the mortgage ;) before. Im not in the UK at present so i dont have sky etc and id rather not as my experience with them would be id rather not pay them a penny ever again ! (They messed up my broadband and kept messing me around on the phone so id rather not have them ever again:mad:)
    I spend very very little indeed so its a bit difficult to cut down. Reason being is the shops are miles away so i cant spend which is good.

    Thanks for the reply and dropping in.
    (09.07.15) £[STRIKE]178,501.43 [/STRIKE] (21.10.15) [/STRIKE]£170,810.26:)166,351
  • Firegirl wrote: »
    Just popped over to say hello!!! Good luck on your journey!!!

    Thanks firegirl.:beer:
    (09.07.15) £[STRIKE]178,501.43 [/STRIKE] (21.10.15) [/STRIKE]£170,810.26:)166,351
  • Actually pinched my name off a boat that I have in my bathroom;) - its up on its end and has shelves in it (Oh, should mention, its not a real boat:D) but like the double meaning to the name (afraid not) and was appriopriate for me - "not afraid" of taking on a mortgage so late in life:eek:

    To work out LTV, I think you take what you owe on your mortgage and divide it by value of property then add 2 "00". Try it and see if it works.

    Hi , i love the name.. cool !:cool:

    Yep i worked itout with Lucky. It turns out i must get the mortgage down to 152K :eek:to get a 60% LTV. Which will open doors to better deals. So that about 18 months time. So will keep plodding on and thats a great incentive to have.:j

    Cant wait to get a better rate and more money will then go towards the capital .:j
    (09.07.15) £[STRIKE]178,501.43 [/STRIKE] (21.10.15) [/STRIKE]£170,810.26:)166,351
  • I found you! :)


    We have slashed our outgoings right down, so for us the extra money to OP with has to come from additional income. Thrown everything on ebay and facebook selling groups that has a value of sorts, Air BnB is also proving a great little earner.


    Have you thought of posting an SOA? Best wishes on your journey I will be reading and cheering you on xx


    Hello ATB,:beer:

    Thanks again for the inspiration as your mortgage starting point is about what mine is now. Your further down the road than me:T I will keep plodding on.

    A couple of questions how do you make money from Air BnB? Also whats SOA ? Apologies in advance as im a newbie and dont have a clue.
    (09.07.15) £[STRIKE]178,501.43 [/STRIKE] (21.10.15) [/STRIKE]£170,810.26:)166,351
  • Petal88
    Petal88 Posts: 273 Forumite
    Tenth Anniversary 100 Posts Name Dropper Combo Breaker
    Hi Kaiser,

    SOA stands for statement of affairs and makes you list out all your income and expenses and assets. MSErs use it to figure out where they can cut costs. You can try it on here http://www.stoozing.com/calculator/soa.php and there's an option at the bottom to produce it in a format compatible with the MSE forum so that you can put it here in case you want us to help.

    As for Air bnb - it's a website where you put your house or a room in it up for short term let if anyone wants to stay. I use it all the time when going on holiday as it's usually cheaper and can be nicer than hotels :)
    Mortgage Oct '20: £615k
    Mortgage Feb '24: 590k
    Debt Feb'24: £35,501.54
  • Hi Petal ,

    Thanks... wow ihad a look and i just dont have all these expenses etc im lucky.

    Air bnb isnt possible where i am. Sounds like a great idea though. Will maybe do it in future.
    (09.07.15) £[STRIKE]178,501.43 [/STRIKE] (21.10.15) [/STRIKE]£170,810.26:)166,351
  • Luckyinlife
    Luckyinlife Posts: 1,613 Forumite
    888 When do you normally overpay ? is it monthly or just when a contract ends sort of thing ?
    Mortgage--- [STRIKE]£67700 March 15[/STRIKE] [STRIKE]£65221 April 15[/STRIKE] [STRIKE]£64983 July 15[/STRIKE] [STRIKE]£64780 sept 15[/STRIKE] Remortgage [STRIKE]£67295 oct 15[/STRIKE] [STRIKE]£66599 Nov 15[/STRIKE] [STRIKE]£65878.73 Dec 15[/STRIKE][STRIKE] £64834 1st Jan 16[/STRIKE] [STRIKE]Feb 16 £64,511.89[/STRIKE][STRIKE] March 16 £64,056.40[/STRIKE] [STRIKE]April 16 £62550[/STRIKE] [STRIKE]May 16 £62,396.20[/STRIKE] Feb 17 £60.800
    Emergency fund 23k
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