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Light the fire...

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Comments

  • lucielle
    lucielle Posts: 11,576 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    That sounds like a good weekend. 
    L
    Total Debt Dec 07 £59875.83 Overdrafts £2900,New Debt Figure ZERO !!!!!!:j 08/06/2013
    Lucielle's Daring Debt Free Journey
    DFD Before we Die!!!! Long Haul Supporter #124
  • savingholmes
    savingholmes Posts: 29,070 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Glad things are going well with you. Sounding very organised.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £171.8K Equity 36.37%
    2) £2.6K Net savings after CCs 10/10/25
    3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
    (If took bigger lump sum = 60.35K or 47.6%)
    4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
    5) SIPP £5K updated 10/10/25
  • savingholmes
    savingholmes Posts: 29,070 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    The extension sounds amazing... If you got all that done for £100K but only have a £40K over-hang left to clear sounds like you've done really well or have I misunderstood?

    Regardless welcome back. It's your money and your home - and you likely added value so an investment too... Enjoy it.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £171.8K Equity 36.37%
    2) £2.6K Net savings after CCs 10/10/25
    3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
    (If took bigger lump sum = 60.35K or 47.6%)
    4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
    5) SIPP £5K updated 10/10/25
  • woodfired
    woodfired Posts: 406 Forumite
    Seventh Anniversary 100 Posts Name Dropper
    Hi SH!  Good to see you. 
    Yes you are right, we have managed to cashflow/use savings the other £60k.  Thanks to COVID meaning limited holidays (in our caravan when we have got away) and little spending on socialising over the last couple of years. We could never have dreamt of affording this kind of work when we moved in but here we are and I feel very lucky.  Thanks for popping by x 
    New Mortgage: £240 999 7/2/20 £ 205 000 Aug 23 Currently: £193 313 Jan 2025
    Mortgage Advance £27 000 April 2022 £22 450 Aug 23 Currently: £19357 Jan 2025
    Business Loan £89 000 Jan 2023 £44 499 Aug 23 Currently: 33 382 Jan 2025
  • themadvix
    themadvix Posts: 9,017 Forumite
    Part of the Furniture 1,000 Posts Mortgage-free Glee! Photogenic
    It sounds like a fantastic improvement to your home and worth the money! Good to see you back though 😊
    Mortgage free 16/06/2023! £132,500 cleared in 11 years, 3 months and 7 days

    'Now is no time to think of what you do not have. Think of what you can do with what there is.' Ernest Hemingway


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