Mortgage free dreams

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  • Yes it is, I've had a couple of mishaps recently - first was a one off payment to buy freehold, that involved solicitors etc, it came to £1400 all in. Second was a couple of weeks off sick due to pulling a muscle in my arm, that will cause a setback.

    The main thing to remember is that setbacks are to be expected on the journey and when you encounter them it is important to start looking at expenditure and ways to make the overpayments achievable.

    Best of luck on your journey.
    £52,365 owing December 2017.Now for the final countdown..1st Jan 2021 - £29,316 -- 1st Feb 2021 - £28,809 -- 1st Mar 2021 - £27,309 -- 1st Apr 2021 - £26,811 -- 1st May 2021 - £26,315 -- 1st Jun 2021 - £25,811 -- 1st Jul 2021 - £24,311 -- 1st Aug 2021 - £23,809 -- 1st Sep 2021 - £22,305 -- 1st Oct 2021 - £21,798 -- 1st Nov 2021 - £20,292 -- 1st Dec 2021 - £19,783 -- 1st Jan 2022 - £18,276 -- 1st Feb 2022 - £17,762 -- 1st Mar 2022 -£17,248 -- 1st Apr 2022 -£15,713 -- 1st May 2022 - £15,202 --1st Jun 2022 - £13,703 -- 1st Jul 2022 - £13,184 -- 1st Aug 2022 - £11,665 -- 1st Sep 2022 - £11,144 -- 1st Oct 2022 - £9,822 -- 1st Nov 2022 - £9,298 -- 1st Dec 2022 - £7,572 --1st Jan 2023 - £7,045 -- 1st Feb 2023 - £5,516 -- 10th Feb 2023 - £5,518 Overpayment Pot @ 10th Feb 23 = £5,518 / Primed = £0 / Actual debt = £0!!!! "Yes, the medicine is harsh, but the patient requires it in order to live, should we withhold the medicine?" Hopefully at zero mortgage debt by December 2022 or very close to it. Determined for freedom! 🍻🥂🍸🍹.
  • September Update: 

    • Balance - £125,600.00 // £124,000.00
    • Over payments - £3,548.98// £4,250.00                           
    • Savings - £17,000.00 // £17,000.00
    I'm back on track to meet my targets & I also have enough savings now that I can completely focus on paying off the mortgage. I'm paying £100.00 into a S&S ISA still and would like to increase this amount over the years, but for now that will do.
    Feeling positive about my financial position now! 

  • October Update: 
    • Balance - £125,000.00 // £124,000.00
    • Overpayments - £3,920.13// £4,250.00                           
    • Savings - £17,000.00 // £17,000.00
    Almost there! Can't believe how close to the end of the year it's getting.
    I'm in a strange place at the moment where I don't know if I'll sell next year or carry on as I am, depending on so many factors. 
    But if I do sell at the end of my 3 years fixed, I should have the balance down to £120k. 
    We'll see what the market is like in April I guess! 
  • Great progress and focus ;)
    Look like your £120k May goal is definitely doable.

    I am currently looking to buy and service fees are indeed v expensive in so many places, it is a real issue and as a buyer it is definitely something I am looking at carefully.
    There will always be a (beautiful stilettoed) foot in fabulous in LaPlan's life.
    I am choosing to be fabulously frugal to support some wonderful life changing and affirming financial goals including buying a London home I love.

    DON'T BUY STUFF (from Frugalwoods)
    No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things. You can’t really hack your way to frugal. You can and should take advantage of discounts, coupons, rewards points, and the like. But at the end of the day, the only way to truly save money is to not buy stuff.    Money doesn’t walk out of your wallet on its own accord.

    My March  streaks to track
    Track Minimalist game  items (Nov 310)   (Dec  95)  (Jan 90)   Feb 50
    Exercise streak  
    YNAB days:: Target 50 days -Age of money 29
    Track my NSD's - Target 13 days/ 0/13

    https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest
  • @LadyWithAPlan - Ah how exciting! Yes, the problem is they appear to be able to change service fee's whenever they please & it all depends on who your neighbours are whether they think it's a fantastic idea! Unfortunately, my flat block has a lot of mortgage-free individuals who don't seem to mind the higher service fee's ha.

    November Update: 
    • Balance - £124,400.00 // £124,000.00
    • Overpayments - £4,272.70// £4,250.00                           
    • Savings - £17,000.00 // £17,000.00
    The second goal hit! £400 away from my £124k goal, which will definitely happen. Pleased with how I have managed this in the past year, given that my income has been so varied! 

    I'm pretty sure I am going to sell in March/April, so this is no longer a mortgage-free goal, but I'm glad that I gave it a shot. 

  • On the service charge - oh no ;((

    Are you planning to buy somewhere new without a mortgage?
    Either way well done on hitting your goals - I also have a very variable income so always a wonder when I can hit my monthly goals. Over the last 18 months I have been so careful to not overspend or waste my income ..
    There will always be a (beautiful stilettoed) foot in fabulous in LaPlan's life.
    I am choosing to be fabulously frugal to support some wonderful life changing and affirming financial goals including buying a London home I love.

    DON'T BUY STUFF (from Frugalwoods)
    No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things. You can’t really hack your way to frugal. You can and should take advantage of discounts, coupons, rewards points, and the like. But at the end of the day, the only way to truly save money is to not buy stuff.    Money doesn’t walk out of your wallet on its own accord.

    My March  streaks to track
    Track Minimalist game  items (Nov 310)   (Dec  95)  (Jan 90)   Feb 50
    Exercise streak  
    YNAB days:: Target 50 days -Age of money 29
    Track my NSD's - Target 13 days/ 0/13

    https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest
  • Unfortunately, my partners mum passed away last year but she left him a small flat in her will, so we are planning on moving in there for now. Until we need more space anyway, then I'll be joining the mortgage free train again! 

    February Update: 
    • Balance - £123,000.00                   
    I cancelled my overpayments this month, in preparation for hopefully putting the flat up for sale next month :) 



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