Our quest for mortgage neutrality

The_frugal_fairy

So as of the 31st of December the balance of the mortgage is £ 18,999.83. No more twenties, now hit the teens.


Mortgage statistics
• A capital reduction of £123,090.12 in a decade.
• Really surprised and happy at this reduction. It feels like a real accomplishment, if we can raise the overpayment for May the mortgage and further advance will have been paid off just as we start year 14 of the term . :beer::j:beer::j:beer::j:rotfl:

The_frugal_fairy

So as of the 2nd of January the balance of the mortgage is £ 18,411.81.
.


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.

£ 9,197.20 offset
£ 9,796.63 outstanding after offset, yippee 😊


Mortgage statistics
• A capital reduction of £ 1,703.15 . At this rate we would be mortgage free in 5 months.

• Two bricks coloured in.

• I get impatient and forget that good progress is being made so checked we owe 11.83% of the mortgage, so this month 88.17% of the house is ours.
• Aiming for 10% in January.

Money saving activities
• Will give myself a goal of £500 for January bay sales. Spending time improving listings and adding more.

The_frugal_fairy

As at 2 3 20, balance is £13,861.61. The offset is £6,066.83, so balance is £7,794.78. In three months will be mortgage neutral by my predictions.  

In new money saving news, have a new jam jar for offset amount. The mortgage pot is looking excellent with 8 marbles. The paid jar is looking really full.

The_frugal_fairy

As at 1 4 20, balance is £12,880.14. The offset is £5,496.53, so balance is £7,387.61. In three months will be mortgage neutral by my predictions. 

In new money saving news, have a new jam jar for offset amount. The mortgage pot is looking excellent with 8 marbles. The paid jar is looking really full.

8.28% of the mortgage is left.

We have decided that routine is really needed at the moment, hence my update.  Our shares are well down so the offset has reduced but that is not important at the moment.

We are juggling work, schooling and house work.  We are trying to use up all the food in the fridge and freezer by meal planning.  Although dd was happy the other day when I said the ice cream and ice pops needed to eating to make room in the freezer.

Projects on the go are trying to Marie Kondo the house and also doing work on the garden. Add in the DIY projects, sewing, exercising, Warhammer etc and we are keeping busy.

How are other MSE people doing ?

The_frugal_fairy

As at 1 5 20, balance is £8,000.11. Bye bye 5 figures 😊

The offset is £4,710.11, so balance is £4,090.00. In two months will be mortgage neutral by my predictions.   

In new money saving news, have a new jam jar for offset amount. The mortgage pot is looking excellent with 5 marbles. The paid jar is looking really full.

5.65% of the mortgage is left.

We have decided that routine is really needed at the moment, hence my update.  Our shares are well down so the offset has reduced but that is not important at the moment.

We are juggling work, schooling and house work.  Lots of baking, sewing, gardening and craft happening.

Projects on the go are trying to Marie Kondo the house, finding lots of things to recycle and give away.  Presents not given at Christmas have been posted. More space gained.

How are other MSE people doing ?

The_frugal_fairy

As at 1 6 20, balance is £6,400.69 😊

The offset is £3,521.90, so balance is £2,878.79. In July will be mortgage neutral by my predictions. 

In new money saving news, have a new jam jar for offset amount. The mortgage pot is looking excellent with 3 marbles. The paid jar is looking really full.

4.11% of the mortgage is left.

Projects on the go are trying to Marie K the house, finding lots of things to recycle and give away.  Presents not given at Mothers Day have been posted. More space gained.

More Eauction to try and speed up paying of mortgage.

Planning the renovations and maintenance on house.

How are other MSE people doing ?

kaycastle

Well done! Thats amazing
Doing well, enjoying a few days off work and made a big overpayment today. 

The_frugal_fairy

kaycastle said:

Well done! Thats amazing
Doing well, enjoying a few days off work and made a big overpayment today. 

Thank you.  Great to hear you are doing well and have made an overpayment.  I must admit I am enjoying clearing lots of things of my procrastination list. 

The_frugal_fairy

Mission accomplished, mortgage neutrality

Symphony101

Congratulations!