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Fighting the mortgage interest
Comments
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Great plan
I am the master of my fate; I am the captain of my soulRepaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NILNet sales 2024: £201 -
I would always doubt my figures when looking at this kind of forecast, always thinking if it's really as simple as that surely everybody would be doing it 🤔Numbercruncher_mfw said:The certainty that we would have mortgage payments of always under £500 a month in the future would allow me and my partner to both go part time (3/4 days per week) giving us up to 100 extra days of free time each a year. That seems like a dream for two people in their mid thirties. Is it a pipe dream? I don't know but the thought of 4 years of being a bit more frugal to ensure we have the option of never having to work full time again sounds too good to be true.
The figures always turned out to be right. I think it's just that we're not wired up quite the same as most people 😂
Not a pipe dream at all - a realistic aim, with an end goal that can really help you keep your eyes on the prize along the way! Good luck! 👍5 -
Well I started a passion project of having a blog documenting my journey, even ended up as a guest on a podcast this week which definitely pushed me outside my comfort zone 3
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Well done on the podcast and stepping out... Way to go!!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 -
Morning, it's been a couple of months since I checked in but all is going well on my mortgage journey.
The current balance is £127,124 so £5,700 has come off the balance this year so far. We've overpaid by £1,000 a month (or just over) so far this year so I'm really pleased with our progress. We are due to get under the £120k mark by September time which is the next milestone to look forward too.5 -
That’s excellent, a £1000 a month is significant. Well done on your focus, you will reap the rewards further down the line!3
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Fab progress, Nc! 😀I am the master of my fate; I am the captain of my soulRepaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NILNet sales 2024: £202
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Fabulous 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 10/10/250 -
Well it's been a couple of months since I last checked in but we've now managed 6 months of overpaying by £1k a month.
Current balance is just over £124k
Hoping to be well under £120k by the end of the year. 2 -
Fabulous 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 10/10/250
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