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Glad you're almost done with the xmas shopping. I'm happy as I came in under budget for the first year ever partly rescued by my gift stash.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £174.8K Equity 32.77%
2) £2.6K Net savings after CCs 6/7/25
3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
4) FI Age 60 income target £16.5/30K 55.1%
5) SIPP £4.8K updated 29/7/252 -
You are so organised
I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.3 -
That's great! I need a gift stash.savingholmes said:Glad you're almost done with the xmas shopping. I'm happy as I came in under budget for the first year ever partly rescued by my gift stash.Mortgage at 12/07/2022 = £175,000
Mortgage today = £161,690.76
300 271 payments to go.House buyout fund £21,000/£40,000
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beanielou said:You are so organisedI don't understand it. I'm never organised. I lost a week somewhere though as I thought there was only one week until Christmas, not two, so that might explain it a bit, even though I know the 20th is a week tomorrow 🤷♀️
I got the bits I was going for today. Just got one thing to buy (on 20th when I'm in town) and one thing I'm awaiting delivery of. Also, awaiting delivery of two special cards that I couldn't get in the shops I looked in. My sis has three items that I need to wrap so I'll get them from her next weekend.
I wrapped some more today too so that's even less to do on Christmas Eve 😆
One week of work to go then I'm off for three weeks. Hooray!Mortgage at 12/07/2022 = £175,000
Mortgage today = £161,690.76
300 271 payments to go.House buyout fund £21,000/£40,000
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Off for 3 weeks - that sounds amazing!!Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £174.8K Equity 32.77%
2) £2.6K Net savings after CCs 6/7/25
3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
4) FI Age 60 income target £16.5/30K 55.1%
5) SIPP £4.8K updated 29/7/252 -
Off for three weeks is brilliant! We've got two full weeks plus a few days which will be great!
I'm also never organised for Christmas stuff but I do feel a bit more so this year, it's a very odd feeling!🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her3 -
I've been having a think about my mortgage after reading @savingholmes diary. 2022 is going to be the year of paying off a bit more. We plan to move house next year so there will likely be a different mortgage story by this time next year but for now I'm planning larger payments. I'll do something with my signature to record progress.
Mortgage at 12/07/2022 = £175,000
Mortgage today = £161,690.76
300 271 payments to go.House buyout fund £21,000/£40,000
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Will look forward to reading your mortgage free journey. You have come so far. Remember pensions too. If you are moving within a year may be worth saving separately rather than over paying. That could then help with stamp duty, EA fees etcAchieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £174.8K Equity 32.77%
2) £2.6K Net savings after CCs 6/7/25
3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
4) FI Age 60 income target £16.5/30K 55.1%
5) SIPP £4.8K updated 29/7/252 -
Thank you. I have a repayment vehicle in place for the IO mortgage which isn't directly linked to the mortgage so my plan is to keep paying what I am into that alongside any overpayments and/or savings. It's already part of my budget so won't affect it. Hopefully I overpay enough that when the time comes I can use that vehicle for pension instead. I have quite a good work pension, plus a couple of small deferred pensions from previous employers. I have to admit, I don't know a huge amount about pensions apart from the basics.savingholmes said:Will look forward to reading your mortgage free journey. You have come so far. Remember pensions too. If you are moving within a year may be worth saving separately rather than over paying. That could then help with stamp duty, EA fees etc
As for saving v overpaying for stamp duty (LBTT in Scotland) I have at least £55k in equity and my plan is to use £50k towards a deposit and the £5k towards fees, etc. I have already had quotes from solicitors and there likely won't be an EA fee as the plan is for a private sale. We have an interested buyer who is a cash buyer (all above board, not some random with a wad of cash in their pocket). If the buyer falls through, which is unlikely, then we will market which will obviously cost more in fees but we will probably get a better price so it evens out. We just need to find somewhere to move to before we sell.
Mortgage at 12/07/2022 = £175,000
Mortgage today = £161,690.76
300 271 payments to go.House buyout fund £21,000/£40,000
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Sounds like it is all coming together. Exciting stuff.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £174.8K Equity 32.77%
2) £2.6K Net savings after CCs 6/7/25
3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
4) FI Age 60 income target £16.5/30K 55.1%
5) SIPP £4.8K updated 29/7/253
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