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Teadrinkingexpert
Posts: 2 Newbie
Hi everyone,
I haven’t had a diary in any form before but I do really enjoy reading people’s achievements so I’ve decided a lovely shiny diary might help me become mortgage free.
There is myself, DH and DD
(age 2.5) in our home. We have very much appreciated the security of having our own home during this pandemic and feel very lucky to have a garden 
too. With this in mind we now would like to make it officially ours sooner.
We have just under £69K left on our modest mortgage (house was £150K in 2013) as we’ve have been overpaying for years before DD arrived. But the last few years we haven’t paid much towards the mortgage overpayments especially with the now reduced income that comes with one part time working parent. I feel lucky to be able to work less and raise our daughter.
I haven’t had a diary in any form before but I do really enjoy reading people’s achievements so I’ve decided a lovely shiny diary might help me become mortgage free.
There is myself, DH and DD
(age 2.5) in our home. We have very much appreciated the security of having our own home during this pandemic and feel very lucky to have a garden too. With this in mind we now would like to make it officially ours sooner.We have just under £69K left on our modest mortgage (house was £150K in 2013) as we’ve have been overpaying for years before DD arrived. But the last few years we haven’t paid much towards the mortgage overpayments especially with the now reduced income that comes with one part time working parent. I feel lucky to be able to work less and raise our daughter.
So I’m going to try and get on track.
P.S, anywhere else in the country have the police helicopter patrolling twice a day?
P.S, anywhere else in the country have the police helicopter patrolling twice a day?
2
Comments
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Welcome and good luck. You look to have made good progress already 😀
P.S. No on the helicopter - just tell yourself that you must live somewhere very beautiful where people just can't help themselves from going out to enjoy it!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!!!1 -
Wishing you lots of lick. You seem to be doing great so far. We do have a polica helicopter over quite a bit hereMortgage Aug 2019 161,000 :eek::eek::eek:Nov 2019 156,500:T Jan 2020 153,122:T, Apr 2020 149,500, Apr2021 139, 675, Oct 2021 136,823, Dec 2021 136,120🙂EF 0/12,000 (0%)😕 (5062.44 was ERC), Jan 2023 128,650. Our Mortgage is never going to be as high as it is today. :jOnwards and downwards to a better life for our family. :jJust keep swimming1
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Welcome. It is a wonderful feeling having your own home and garden during the pandemic. Best wishes on your mortgage free journey.Mortgage start date Dec 2015 - $64,655.00
Mortgage end date Dec 2045 - NOT!!!!
Mortgage balance - $4600.00
Business Savings $43,310/100k
Hope to be mortgage-free by end of 20231 -
Welcome and good luck!
It's hard to overpay much when kids are small so anything is a positive step.
Do you have a target amount / date to overpay by?1 -
Good luck on your journey. Any small OPs add up so don't be frightened of OPing small amounts.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.8K Net savings after CCs 13/9/25
3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
(If took bigger lump sum = 54.5K or 42.7%)
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 £4.8K updated 13/9/250 -
I agree with Jennifer it's hard when you have kids. I still try to pay a modest amount to our mortgage each month if I can but still want good holidays etc together. This year we were due to go on 2 big expensive holidays but that not going to happen and will see if we can still have our long weekend away in September. It all adds up and keep on plodding along.0
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Thank you for the warm welcome everyone.I’d like to pay it off in 5 years but that seems like a push with a small child like you say. We should have £104 left from our grocery budget this month since I’ve only been buying essentials and no naughty top up (read: wine and chocolate on the way home) shops. So I’ll put that onto the mortgage.Sorry to you all that have had to cancel holidays this year, it’s not just the money lost, it’s time from planning trips and lost memories that are rough too.2
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Off to a good start then.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.8K Net savings after CCs 13/9/25
3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
(If took bigger lump sum = 54.5K or 42.7%)
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 £4.8K updated 13/9/250
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