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Under £100K! That’s a major milestone! Well done! @Cotswoldfoodie1
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Hello all, hope you are all keeping healthy & happy.
Quick update, all going well with the overpaying and averaging around 900 a month with another 500 going in savings. Made an OP today and snuck down in to the next bracket so balance is now £89,636. Pretty chuffed as in Sept 19 when I started aiming to be MF the balance was £121,000. So have paid off £32k in 21 months which I'm delighted with.4 -
Excellent work, keep it going!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!!!2 -
Great progress!paydbx2025 #26 £890/£5000 . Mortgage start £148k June 23 - now £138k.
2025 savings challenge £0/£2000 EF £140. Savings 2 £30.00. 172 -
Thanks South coast & honeysuckle, a sort of grim determination has set in now! Would love to pay it off inside 10/11 years which feels do-able now.1
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Morning all hope everyone is good on a lovely sunny day. I thought I would pop over and see the new look forum (looks great!) and give an update. My fix end in a couple of months, so have secured a new 2year fix at 1.75% offset with my current lender with no fees, chuffed with that and gives some certainty for a while. The overpaying is going well still, my balance is down to £88,000. By using a handy offset calculator it reckons if I keep up the same rate of saving I'll be MF by the end of 2024! Does a happy dance :-)3
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I can't believe it's been a whole year since I popped by to give a quick update and see how everyone is getting on! Hope you are all well in these odd times.
Mortgage is going well, the offset is really working for me. With what I have saved in there and the balance I'm down to around £49k left to pay / save now. I've been lucky and had a promotion at work so saving lots which is working magic on the interest too.
Hopefully will be paid off next year in the Autumn which I'll be very proud of :-)2 -
Congratulations. All sounds good.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.6K Net savings after CCs 14/8/25
3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
(If took bigger lump sum = 53.3K or 41.8%)
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 29/7/250 -
Hello forumites! Hope you are all tip top going into Spring.
Quick update after a long absence (sorry!) have been throwing everything at my offset as the 1.75% fix ends 30/09/23 and no way am I going on new fix at today's rates. Also taken up "stoozing" thanks to Martin Lewis again so really piling it on to my offset savings.
Net result is down to £11k left which I expect to clear in the next 6 weeks, then I'll wait till Sept when my ERC reduces and dadah! MF by October!4 -
Wow, that's a fantastic achievement 😀😀😀! Make sure you come back and let us know when you've made the magic final payment!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
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