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Irish cottage journey to (4!!) mortgage freedom

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  • Good luck for the adoption 
  • hildosaver
    hildosaver Posts: 380 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Might as well update this - a lot has changed in the past few weeks.

    I had a 'moment of clarity' you could say and did some calculations. I am fortunate enough to have bought some bitcoin for £1000 back in 2014 and I've pretty much held it since then. I realised that I could actually sell half of what I had and be able to pay off the majority of our mortgage debt after tax so that is exactly what I have done.

    I paid off 3 of the 4 mortgages we had and paid off more than half of the last property leaving us with an outstanding £17500 total mortgage debt which I intend to pay off over the next couple of years.

    Now my focus will be on savings, investments and increasing my pension contributions.

    Thanks to all who have followed my sporadic mortgage journey but for now I'll be signing off.
    I am insane and have 4 mortgages - total mortgage debt £200k. Target to zero = 10 years! (2030)
  • Congratulations Hildo. I hope the adoption also went to plan x
    Mortgage start date Nov 2014  - £90,545 over 25 years
    Re-mortgage Oct 2017 - 78,295 over 23 years
    Re-mortgage Jan 2020 - 55,000 over 26 years @ 1.94%
    Current Mortgage Outstanding Middle December 2020 - £
    47893.35 - a reduction of £42,652 in just over 6 years!  


  • hildosaver
    hildosaver Posts: 380 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Congratulations Hildo. I hope the adoption also went to plan x
    It did thanks for asking - finally got the adoption through last October :)
    I am insane and have 4 mortgages - total mortgage debt £200k. Target to zero = 10 years! (2030)
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