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To mortgage neutral and beyond...

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  • One-step-at-a-time
    One-step-at-a-time Posts: 601 Forumite
    Eighth Anniversary 500 Posts Photogenic Name Dropper
    edited 23 February 2024 at 2:40PM
    savingholmes said:
    Just caught up. I am dreaming of having a mortgage as small as yours... One day
    You are doing so incredibly well, though! I have been trying to keep up with your diary and have been amazed by the strides you've made recently :)

    The small mortgage...I am grateful for it! Back in the very dim and distant past I bought out my ex-partner. To be able to keep the house I massively increased my mortgage and gave up practically everything in it (we managed to keep legal wrangling to a minimum but he ended up with the lions share of the contents, I had a futon, oven, fridge freezer and not a lot else. Luckily for me this was in the days before house prices went completely bananas, if it had happened even two years later I wouldn't have been able to get on the property ladder on my own. It's possibly the last sensible financial decision I made in my 20s, and meant that when I moved house the next mortgage was very manageable.
    Debt-free August 21, Mortgage-neutral April 24
  • savingholmes
    savingholmes Posts: 29,139 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Thanks for sharing your story. It's always nice to read others' positive next chapters.

     Ex took 2.5 rooms of stuff so could have been worse. He took a lot of books, the TV, all the DVDs.  TBH I could have done with him taking more of the decades worth of clutter but he's left that for me to sort. Wonder why!!! There's some treasures though.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £169.8K Equity 37.1%
    2) £2.4K Net savings after CCs March 26 (but owed £1.1K) so £3.5K
    3) Mortgage neutral by 06/30 (AVC £36.2K + Lump Sums DB £4.6K + (25% of SIPP 1.3K) = 42.1£127.5K target 33% 27/2/26 (If took bigger lump sum = 64K or 50.1%)
    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 £5.2K updated 16/1/26
  • Drawingaline
    Drawingaline Posts: 2,988 Forumite
    Eighth Anniversary 1,000 Posts Photogenic Name Dropper
    I know what you mean about winter days. Feel like I am running up hill all the time.
    Debt free Feb 2021 🎉
  • One-step-at-a-time
    One-step-at-a-time Posts: 601 Forumite
    Eighth Anniversary 500 Posts Photogenic Name Dropper
    Hello 2022!
    I've been very internet-lite for the last couple of months. It's been lovely. Lots more time spent going for walks, watching films, and we even managed a real holiday. We'd been deferring and deferring, but the money had been put aside and staying at home was getting seriously old, so we took the plunge and had a proper change of scenery. It's really helped.
    Finances are ticking over fine, and the mortgage will crack the £25k to go point next month.


    Debt-free August 21, Mortgage-neutral April 24
  • remote_control
    remote_control Posts: 642 Forumite
    Part of the Furniture 500 Posts Name Dropper
    Great to hear you had a holiday!
  • savingholmes
    savingholmes Posts: 29,139 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Sub £25k sounds amazing.

    Sounds like your time away from MSE has been refreshing
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £169.8K Equity 37.1%
    2) £2.4K Net savings after CCs March 26 (but owed £1.1K) so £3.5K
    3) Mortgage neutral by 06/30 (AVC £36.2K + Lump Sums DB £4.6K + (25% of SIPP 1.3K) = 42.1£127.5K target 33% 27/2/26 (If took bigger lump sum = 64K or 50.1%)
    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 £5.2K updated 16/1/26
  • Drawingaline
    Drawingaline Posts: 2,988 Forumite
    Eighth Anniversary 1,000 Posts Photogenic Name Dropper
    Glad you got away. Much needed after the past few years of debt busting and lockdowns!
    Debt free Feb 2021 🎉
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