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Amazing - congratulations!2017 - mortgage of £140,000 and interest rate of £10 a day
Feb 2021 mortgage of £103000
May 2021 mortgage of £100000
July 2021 mortgage of £97000
November 2021 mortgage of £93000
July 2022 mortgage of £84000
December 2022 mortgage of £79000
December 2023 mortgage of £73000
March 2024 mortgage of £70000
May 2024 mortgage of £68000
October 2024 mortgage of £65000
February 2025 mortgage of £63000
March 2025 mortgage of £45000 and interest of £6.07 per day1 -
That's fab! Congratulations!!Mortgage balance as of 21.7.21 - £75,766. (7 yr mortgage on 2 yr fix of 1.32%)Mortgage balance as of 20.8.22 - £58,445.08o/p 2021/2022 = £6,313/£7,500o/p so far 2022/2023 = £5,997/£5,997 Goal 1 - to be under 60k by 20.7.22✔️Goal 2 - to op 10% of mortg by 31.12.22✔️Goal 3 - to pay off mortgage by 7.1.2023 (Subject to sale of btl property)✔️Goal 4 - to pay off cc by end of Jan 2023 - £260.64/£1500Goal 5 - to pay off car loan by 31.8.23 - £1722.39/£10,0002
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Things going well still I see. Looking forward to seeing you reach your remaining FI goals.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 29/7/251 -
So new goals for the next 5 years. Continue to build EF. I’m at £4250, I’m relatively happy with this figure as previously it’s been in the few £hundreds. To achieve FIRE I’ve worked out that £300 per month (£375 courtesy of HMRC) into my SIPP will deliver my goal at 60 years of age and give me a lot of choices subject to health etc. This figure seems reasonable as I want to use some disposable income to continue home improvements and family spends as we promised ourselves once the mortgage was paid off. At least this won’t involve debt/loans credit cards etc. Our cars (3 in this family) are all 10+ years old but we have looked after them and “touch wood” have and are very reliable. So no plans to upgrade yet and they fit our lifestyle perfectly. Some plans to see elderly relations in September, due to distance it’s infrequent however looking forward to the road trip and catch up. Work wise things are going good, I really enjoy my job, low stress, nice people I work with. That hasn’t always been the case over the years........
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Nice to refocus on different things in your budget. Good luck with your palns.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 29/7/252 -
So September is here, managed to get more jobs completed in and outside of my home, spent about £600 on home improvements which I’m really happy with. Getting to grips with gardening now and pleased with my efforts. Waiting on HMRC tax refund, when it arrives it will go into my SIPP. Outwith work pension I’m looking at investing £350 per month into my SIPP for the next 4 years or so. Have been careful with my utilities this month to try and negate the October price rises. Road trip planned for this month to see family for a few days.3
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Sounds like you are being wise with your money post MF.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 29/7/251 -
Working later today so getting a few jobs done this morning at home. Tax rebate arrived, which I’m pleased about and I paid this straight into my SIPP. Now the mortgage has gone this is my focus. Checked my credit score and it’s dropped, due to having no active mortgage......which I understand, still seems weird though. Anyway our 15 year old car passed its MOT with some small advisories which I will get done at some point. The other car.....it’s younger sister (LOL) at 13 years old is done e it’s MOT in April. Weather here in Scotland is lovely today, spent time at the allotment yesterday putting the glass into our greenhouse frame. Picked some wild Raspberries which were delicious. Busy day yesterday but very good for the soul.4
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Wow - I'm amazed you can still get raspberries now.
Annoying re credit rating - but you hopefully won't need it in future anyway.
Well done on the SIPP payment.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 29/7/251 -
That's amazing - well done! 😁1
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