Keep calm and carry on....

South_coastSouth_coast Forumite
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Good afternoon all

I have lurked for years and love reading all of your stories, but keep finding myself getting grumpy when you're not updating your diaries at the same time as I am available to read them (I tend to do a mega catch-up in bed on a Saturday morning, then you're all off being busy in real life); so thought I'd set up my own diary to keep me going until you post fresh news for me to consume!

I absolutely love my home (in an "only-a-mother-could-love" way, as there is work to be done once MF), so no plans to move. As of today, the mortgage balance sits at £32,978.14, with £700 currently in transit and £175 set aside to transfer next week (have to stagger the payments around month-end so they don't force a recalculation of the monthly payment). All things remaining equal, I could be looking at a balance of c£13k this time next year, although a job change is likely to be on the cards, making c£18k a more likely target. Hopefully I will end up somewhere between the two.

This makes MF in late 2021 a realistic possibility, rather than the mid-2022 I have been targeting. While this is a very exciting prospect, the numbers look pretty alarming - hence "keep calm and carry on" - stay focused, breathe, and don't lose your head!

I have just under £5k in an S&S ISA which serves as my emergency fund, pay the maximum that my employer will match into my pension, and save in advance for all annual bills, so think I have got most things covered off. Hopefully I'll be back to update this regularly, or I won't even have my own diary to keep me occupied!
Mortgage start: £65,495 (March 2016)
Cleared 🧚‍♀️🧚‍♀️🧚‍♀️!!! In 5 years, 1 month and 29 days
Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed

Finally earning interest instead of paying it!!!
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Replies

  • LeighofMarLeighofMar Forumite
    459 Posts
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    Welcome with your new diary. That balance and target end date is amazing and will be cheering you on to make it. So exciting.
    Mortgage start date Dec 2015 - $64,655.00
    Mortgage end date Dec 2045 - NOT!!!!
    Mortgage balance end of July 2021 - $28,550.00
    Hope to be mortgage-free by 2023 
  • South_coastSouth_coast Forumite
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    Thanks, LeighofMar!

    I do feel a bit sheepish when I see some of the huge balances on here, but it still seems like a lot when I'm doing it on my own and have never had any "real" debt before (just student loan and 0% cards for stoozing). It's all relative though, and I'm very happy with my lot
    Mortgage start: £65,495 (March 2016)
    Cleared 🧚‍♀️🧚‍♀️🧚‍♀️!!! In 5 years, 1 month and 29 days
    Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed

    Finally earning interest instead of paying it!!!
  • Jessy103Jessy103 Forumite
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    Good luck! Will be cheering you on! :)
    Mortgage Balance as of 01/01/22 £51,500
    Mortgage Balance as of 31/12/20 £61,000
    Mortgage Balance as of 31/12/19 £69,000
    Starting Mortgage Balance (June 2019) £72,000
    2022 Overpayment Challenge: Jan £361.42, Feb £304.55, March £198.15, April £517.97, May £364.19
    Savings Target: £500/£1,200
  • South_coastSouth_coast Forumite
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    Thanks Jessy!
    Mortgage start: £65,495 (March 2016)
    Cleared 🧚‍♀️🧚‍♀️🧚‍♀️!!! In 5 years, 1 month and 29 days
    Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed

    Finally earning interest instead of paying it!!!
  • South_coastSouth_coast Forumite
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    Right, not a bad first day here....

    Low-spend day, £1.50 on groceries
    Told Consumer Pulse about 2 songs I'd "bought" from iTunes. Paid with a voucher I cashed out from Shoppix, so that will be £1.00 back from CP for a 0p spend
    Claimed an AGC from Shop & Scan and ordered a book which has been on my wishlist for ages. £1.00 left of the voucher and will be another 50p from CP when it arrives

    Don't worry, not normally this productive. Normal service will resume once I'm back to work on Thursday
    Mortgage start: £65,495 (March 2016)
    Cleared 🧚‍♀️🧚‍♀️🧚‍♀️!!! In 5 years, 1 month and 29 days
    Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed

    Finally earning interest instead of paying it!!!
  • newgirlynewgirly Forumite
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    Part of the Furniture 1,000 Posts Name Dropper Photogenic
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    :wave: found your diary! best of luck, I’ll be reading :)


    2022 MFW 67 £2715.11/£13,000

    MFI3 No.12 £0/ £40,000
  • shangaijimmyshangaijimmy Forumite
    3.8K Posts
    Part of the Furniture 1,000 Posts Name Dropper
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    Welcome along for the obsessive mortgage OP journey!!
    MFW: Was: £136,000.......Now: £65,000.00......
    Mortgage Neutral Deficit: £46,405.01... Mortgage Neutral Savings: £18,594.99
    MFiT-T5 #8 - £20,682 of £23,100 (89.53%)
    1% Mortgage Challenge 2021 - £707.85 of £705
    Declutter 2022 (minimum of 1 item per day) - 12//365
  • South_coastSouth_coast Forumite
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    Thanks both, it's like being visited by MFW royalty!

    SJ - I have no doubt about the obsession. I can be quite an obsessive person anyway (to the point of not being able to sleep sometimes), but am telling myself this is at least something useful to obsess over and with a finite end - although I do wonder what will happen then!
    Mortgage start: £65,495 (March 2016)
    Cleared 🧚‍♀️🧚‍♀️🧚‍♀️!!! In 5 years, 1 month and 29 days
    Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed

    Finally earning interest instead of paying it!!!
  • savingholmessavingholmes Forumite
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    I think this is a healthy enough obsession as long as you make time to relax too. Good luck on your MFW journey.
    Target 1) Clear CC debt - SUCCESS 13/4/22 Target 2) Lose weight & get fit 3) Write regularly 3811342714/70000 words Book 2 4) Develop passive income streams 5) Get to £3K EF 6) Declutter 7) MFW starting at £201999 Nov 21 with 264 258 payments to go. Now £198132. 8) Mortgage neutral progress (via private pension starting value c£3643 Nov 21) extra payments £312 including tax relief
  • Yellow_mangoYellow_mango Forumite
    450 Posts
    100 Posts First Anniversary
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    Just dropping in to cheer you on! I can’t wait until I’m that close to the end!
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