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Making fairy dust of the mortgage
Comments
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Sounds like you’ve had a busy year! Good luck with the MFW journeyMortgage balance as of end of Dec 19 - £120,675
MFW 2020 challenge #35 £94.62/£750; Jan running total - £94.62
Save 12k in 2020 challenge #34 £560.20/£6000; Jan running total - £560.201 -
Finally back on the forum since it updated, although I cant get it to work with MS Edge which is very frustrating.
Aug 24 - Mortgage Balance £242,040.19
Credit Card - £8,141.63 + £4,209.83
Goals: Mortgage Free by 2035, Give up full time work once Mortgage Free, Ensure I have a pension income of £20k per year from 20351 -
Well I reached the point of being debt free then I had to buy a car, so I have a car loan for £11,000 over 3 years. I am not worried about that and will let it run its course as my car allowance from works pays for it anyway.
I have started overpaying in earnest now. £1600 overpayment this month, DD and I cant live in a 1 bed flat for much longer and I need to get the mortgage down before I move. Current balance around £82,000 after the overpayment. When I re-mortgage I definitely want to go somewhere that you can see the balance online!
Aug 24 - Mortgage Balance £242,040.19
Credit Card - £8,141.63 + £4,209.83
Goals: Mortgage Free by 2035, Give up full time work once Mortgage Free, Ensure I have a pension income of £20k per year from 20353 -
Could access my payslip online today for next Thursday, I got my acting up allowance payment backdated until Jan which is good, however I didn't get my car allowance, I handed my car back on 6th March and they still haven't processed it so I get the cash instead which is quite frustrating, however I should then get over £1k for this next month. All these means come Thursday is that I should be able to make £1500 overpayment.
My current fixed rate ends on 31st Jan and I am hoping to re-mortgage for £65k at that point.
Aug 24 - Mortgage Balance £242,040.19
Credit Card - £8,141.63 + £4,209.83
Goals: Mortgage Free by 2035, Give up full time work once Mortgage Free, Ensure I have a pension income of £20k per year from 20353 -
Payday! OP of £1541.73 made, leaving a balance of £80,400 and £6100 remaining from my OP allowance for the year which will end in Jan when I re-mortgage. After my actual mortgage payment comes out tomorrow I will be below the £80k mark so quite a milestone
Aug 24 - Mortgage Balance £242,040.19
Credit Card - £8,141.63 + £4,209.83
Goals: Mortgage Free by 2035, Give up full time work once Mortgage Free, Ensure I have a pension income of £20k per year from 20355 -
Great progress, well done
Mortgage Balance as of September 2025 £11,700
Starting Mortgage Balance (June 2019) £72,000.
Aiming to be mortgage free by my 40th birthday, June 2026!2 -
Congrats in advance of being under £80k tomorrow!2
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Fab progress!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 10/10/251 -
well the month has gone terribly slowly, I am lucky to still be working full time from home though so the current situation hasn't impacted my MF journey. Today I overpaid £1100 so this should being my total to about £78,700 which will be £78,200 tomorrow after my regular payment processes. and I am hoping to pay off another £250 this month later on to make it below £78k.
My DD is 10 so there isn't that much time until she will need a room of her own and we can no longer share and with house prices here starting at £260k for the cheapest reasonable 2 bed its going to be a big jump so the more I can get paid off in the intervening period the better!
Aug 24 - Mortgage Balance £242,040.19
Credit Card - £8,141.63 + £4,209.83
Goals: Mortgage Free by 2035, Give up full time work once Mortgage Free, Ensure I have a pension income of £20k per year from 20354 -
Well done on the OP. I can't imagine sharing a room with a parent/child - it sounds tough for both of you. How long is your timescale for trying to get a new place?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 10/10/251
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