Need to be MF so I can retire

I often read these threads but I don't post on them.
I'm getting desperate to retire as my job involves a fair amount of lifting and shifting.
This year hubby & I have decided to go all out to pay off our mortgage asap.
I'm 64, hubby is 60, we are both if relatively low paid jobs, our joint income is under £30k and we live in Berkshire, a fairly expensive area.
Our mortgage currently stands at £49,726
There is no penalty if we pay it off early though the mortgage company do make it as difficult as possible by constantly changing the rules on how much we can pay off at any one time.
Currently we have to pay it off in increments of £500, or get involved it copious amounts of paperwork.
However every £500 paid reduces the term by one month.
It has taken a long time and some hard work but we currently have £3000 in savings, £1000 of this will be paid off the mortgage this month.
We will keep £2000 in savings as a buffer, the joy and relief of having savings is incredible. It means that when something breaks it is an inconvenience and not the disaster it was a few years ago.
In the two weeks before Christmas I needed a new tyre on my car and it needed a service, both were done without affecting our Christmas plans.
Hubby and I both have our own bank accounts, we both pay into a joint account from which all the bills are paid. Hubby & I both pay in the same amount even though he earns almost double my salary. Hubby isn't happy about this but it is my choice, I'm a bit obsessive about paying my way.
I'm sure I have bored everyone to tears by now, so I'll shut up!
Chin up, Titus out.


  • pavlovs_dogpavlovs_dog Forumite
    10.1K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
    lovely to see you on this part of the forum, HHH :wave:

    £500 chunks seems a much more manageable target to chip away at than almost £50k doesn't it?

    Best of luck with your journey
    know thyself
    Nid wy'n gofyn bywyd moethus...
  • bexster1975bexster1975 Forumite
    1.6K Posts
    Part of the Furniture 1,000 Posts Photogenic Bake Off Boss!
    Hello HH!

    Best of luck on your MF journey!

    Bexster :)
  • McKneffMcKneff Forumite
    38.6K Posts
    Part of the Furniture 10,000 Posts Name Dropper
    You will love it, being mortgage free and retired is brilliant.

    No debt, minimal outgoings,

    The feeling when you pay that last mortgage payment to clear it is priceless.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • Lexi-luLexi-lu Forumite
    173 Posts
    Fourth Anniversary 100 Posts Photogenic Combo Breaker
    Hello HHH

    Good luck on your MF journey
    Mortgage Balance £0
  • GoldiegirlGoldiegirl Forumite
    8.8K Posts
    Eighth Anniversary 1,000 Posts Rampant Recycler Hung up my suit!
    McKneff wrote: »
    You will love it, being mortgage free and retired is brilliant.

    No debt, minimal outgoings,

    The feeling when you pay that last mortgage payment to clear it is priceless.

    Hear hear!

    Good luck with your quest, Hester
    Early retired - 18th December 2014
    If your dreams don't scare you, they're not big enough
  • SueP19SueP19 Forumite
    1.7K Posts
    Tenth Anniversary 1,000 Posts Combo Breaker PPI Party Pooper
    Hi HH welcome to this great board

    Well done on taking your future in your hands I am a recent joinee too
    Mort Oct 15 [STRIKE]£70,353[/STRIKE] [STRIKE]£66,422[/STRIKE] £58,804 MF [STRIKE]Dec 31[/STRIKE] Jun 31([STRIKE]191[/STRIKE] 176 mnths)
    EF 2016 £700/£1,000 Debt [STRIKE]May 09 £30,217[/STRIKE][STRIKE]Oct 17 £14,093[/STRIKE]Nov 18 £6,336.12[/B]
  • Secret_Saving_SquirrelSecret_Saving_Squirrel Forumite
    4.1K Posts
    Mortgage-free Glee!
    Very good luck on your journey. Sounds like you have excellent reasons for wanting to get rid of the mortgage asap so you should be really motivated. But.... Do you really need a £2000 emergency fund? A 0% credit card would be just as effective and you would be saving the interest on the £2k. Just a thought. All the best X
    Paid off mortgage nine years early in 2013. Now picking and choosing our work to fit in with the rest of our lives!
    Still thrifty though, after all these years:D
  • Hard_Up_HesterHard_Up_Hester Forumite
    4.6K Posts
    Eighth Anniversary 1,000 Posts
    We spent an enjoyable couple hours at DD's, with her in laws, SIL laid on a buffet lunch and we played a few rounds of Articulate, it was great fun.
    Once home I went through the food cupboard, fridge & freezer and made a meal plan, I have enough food to feed a small army for at least two weeks, all I need to buy is bread, so I'm hoping for a few NSD's.
    I should explain that I took out a mortgage when I was over 50 after a very acrimonious divorce, I had already paid off one mortgage with my ex husband.
    Chin up, Titus out.
  • Good luck on your journey HH - all the very best for 2016!
    £2 Savers Club #156! :)
    Looking for holiday ideas for 2016. Currently, Isle of Skye in March, Riga in May, Crete in June and Lake District in October. August cruise cancelled, but Baby due September 2016! :j
  • ecoelleecoelle Forumite
    1.6K Posts
    Part of the Furniture Combo Breaker
    Hi HHH I wish you luck on your MF journey. I am also on the journey to MF freedom and will be subscribing to your thread to keep up with your progress. Meal planning is my next big task, how did you find it easiest to plan yours?
    :j:j:j:j:j:j:j:j:j:j:j:j:j:j 14 years to go on the mortgage
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