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Time to get my house in order!

Thick_n_Thin · 2020-05-06 17:44:37

So after learning the hard way how to manage my finances and money over the last few years I have finally arrived at a point where we are in a position to start overpaying on the mortgage. It’s not a massive amount just short of £64,000 and with 6 years 11 months left to run. In my head I want to get this gone in 3 years…

Comments

savingholmes Posts: 29,051 Forumite

24 April 2022 at 6:04PM

Just caught up on your diary. Well done for coping with reduced hours, furlough for OH and then redundancy for both of you. Good you are now the other side and debt neutral

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 13/9/25
2