Our quest for mortgage neutrality

The_frugal_fairy

So as of the 1st of November the balance of the mortgage is £ 22,960.53. Low twenties, so exciting.


Milestone reward of under £20,000 – renovation of utility and shower room, in process of looking for ideas ��

Offset calculation
So as the end is in sight I have got all creative and calculated the offset amount. I have cobbled my shares (value as at today), solar generation to date, eBay money not paid to mortgage yet, savings and my regular overpayment.

£ 7,769.31 offset
£ 15,191.22 outstanding after offset


Mortgage statistics
• A capital reduction of £1,973.29. At this rate we would be mortgage free in 7 months.

• Two bricks coloured in.

• I get impatient and forget that good progress is being made so checked we owe 14.75% of the mortgage, so this month 85.25% of the house is ours.
• Aiming for 85% for October, achieved November.
• Aiming for 10% in January.

Money saving activities
• Have bought marbles and found two jars. I put a marble for each thousand pounds owed as at 1/01/2018 in one jar. I have then moved a marble for each thousand pounds paid off to the other jar. Loving the visual reminder on my kitchen window sill.
• 10 bay sales this month - £265.40, much better than last month ��. I do find sales get me motivated and this is a good month. Will give myself a goal of £350 for November. Spending time improving listings and adding more.
• Forward projections done to try and achieve the balance starting with 1 in December 2019.
• Planning the things I want to fix in the house. Looking on line for ideas but not spending money. Have found a carpenter so some things that need fixing will be done and some of the work will make things look nicer. Also money saving as doing the jobs now is cheaper than leaving and having to replace.
• Christmas shopping, 75% of it is done.

The_frugal_fairy

£10.90, good but need £11.67 per day to reach target .
£1 max selling fees so more things to be listed tomorrow :j

The_frugal_fairy

£25, month to date.so just £10.01 behind target.

Listed 4 things to replace the 2 sold

Kittenkirst

Mortgage free in 7 months- totally inspiring!!

The_frugal_fairy

£55, month to date.so ahead of target.

Listed 3 more things as £1 max fee weekend.

Planning trip to RL auction in morning with some items:j:j:j

glass_half_full

Great progress congratulations! :beer:
Love the marbles idea, I think I will pinch that.

The_frugal_fairy

glass_half_full wrote: »

Great progress congratulations! :beer:
Love the marbles idea, I think I will pinch that.

Yes the marbles are a great visual reminder. Will re purpose for saving goals once mortgage is gone

The_frugal_fairy

£67.90, month to date.so behind target.:(

Listed a couple more things.

The_frugal_fairy

£73.40, month to date.so behind target.

Reduced items.

The_frugal_fairy

So as of the 2nd of December the balance of the mortgage is £ 20,114.96. Low twenties, almost teens.:beer::beer::beer::beer:


Milestone reward of under £20,000 – renovation of utility and shower room, in process of looking for ideas ��

Offset calculation
So as the end is in sight I have got all creative and calculated the offset amount. I have cobbled my shares (value as at today), solar generation to date, eBay money not paid to mortgage yet, savings and my regular overpayment.

£ 6,895.42 offset
£ 13,219.54 outstanding after offset


Mortgage statistics
• A capital reduction of £2,815.57. At this rate we would be mortgage free in 6 months.

• One brick coloured in.

• I get impatient and forget that good progress is being made so checked we owe 12.92% of the mortgage, so this month 87.08% of the house is ours.
• Aiming for 85% for October, achieved November.
• Aiming for 10% in January.

Money saving activities
• Have bought marbles and found two jars. I put a marble for each thousand pounds owed as at 1/01/2018 in one jar. I have then moved a marble for each thousand pounds paid off to the other jar. Loving the visual reminder on my kitchen window sill.
• 6 bay sales this month - £95.75, less than last month ��. I do find sales get me motivated and this is a good month. Will give myself a goal of £400 for December, 2% of balance. Spending time improving listings and adding more.
• Forward projections done to try and achieve the balance starting with 1 in December 2019.
• Planning the things I want to fix in the house. Looking on line for ideas but not spending money. Have found a carpenter so some things are being fixed ��
• Christmas shopping, 85% of it is done, need to find Christmas planner.