Lumiona's MFW Diary

Lumiona

I may have some amounts to move around into the Mortgage saver before the fixed ISA closes on 7th May. I'm so happy seeing the net owed balance shrinking every month.

Mortgage Balance	£110,481
Mortgage Savings	£27,999
Net Owed	£82,482

Lumiona

Not a huge amount of updates. The net owed has reduced by £7.4k. It would have been much higher had we not had to buy a second car last year as DH changed jobs. We are very grateful to have had the cash available for him to make that change.

Mortgage Balance	£106,884
Mortgage Savings	£31,873
Net Owed	£75,012

I have a goal of doubling the Mortgage Savings and halving the Net Owed over the next 12 months but this is subject to any unforseen expenses (like the car last year). In order to this, we are changing our holidays from expensive abroad fortnights in the sun to frequent camping trips, we aim to go every other weekend, weather dependent. We have most of the supplies for this now so we shall be able to travel the UK and Europe at a much cheaper price. I'm surprised at how much I enjoy it, there's no way you'd have caught me in a tent even a year ago.

Lumiona

Small update as of today, the net owed has dropped by £10k since Jan and we should be able to save another £3k by the end of this month after payday.

Goal date is Dec 2026 when the fix ends, that 18 months is coming up fast. According to my forecast we are looking at being short on the balance by approx £9k which we should be able to clear a few months after that.

Mortgage Balance	£104,874
Mortgage Savings	£40,249
Net Owed	£64,626

Lumiona

We are in major savings mode now. We've had lots of camping trips this year that have been really cheap other than some expensive one off gear purchases, thankfully the weather has been mostly lovely (barring storm floris). School uniform is is fine from last year, only had to replace PE shoes. I've been ebaying my books and and I'm on a spending freeze for the next 6m other than Xmas and birthday gifts.

This month's update:

Mortgage Balance	£104,068
Mortgage Savings	£46,453
Net Owed	£57,615

Lumiona

All my bank accounts are having a rates / rewards reduction which is a huge shame. I'm losing avg net cashback of £5.50pm from Santander 123 lite having to switch to Santander Edge. Also losing 3x £5pm rewards from Halifax which was a good little earner of £180pa for very little work. With the interest rate reduction on most of my acs as well, it feels like I'm losing money.

Lumiona

Sept 2025 update: 

Mortgage Balance	£103,664
Mortgage Savings	£48,713
Net Owed	£54,952