📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Woohoo!

1…34689…18

Comments

  • L9XSS
    L9XSS Posts: 438 Forumite
    Third Anniversary 100 Posts Mortgage-free Glee! Name Dropper
    163 mortgage days to go before my final payment is made........it feels so close now. Just playing about with numbers on a Sunday evening. I think the next milestone will be the last 100 days. I can’t quite believe I’m so close now as back in 2008 with a 25 year mortgage term ahead of me and those first few steps was a challenge! 
  • savingholmes
    savingholmes Posts: 29,034 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You're so close to the end of the mortgage now - it must feel amazing!
    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 29/7/25
  • L9XSS
    L9XSS Posts: 438 Forumite
    Third Anniversary 100 Posts Mortgage-free Glee! Name Dropper
    savingholmes said:
    You're so close to the end of the mortgage now - it must feel amazing!
    I’m lucky that I can start counting days rather than years, but yes it’s a lovely feeling. Only 5 more payments to make to the bank! 
  • savingholmes
    savingholmes Posts: 29,034 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Since I am currently at 264 your 5 sounds phenomenal
    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 29/7/25
  • MissLemon
    MissLemon Posts: 112 Forumite
    Ninth Anniversary 100 Posts Mortgage-free Glee! Combo Breaker
    Only 5 more payments! That's so exciting!
    Original MF Date January 2035. MF Date February 2022
  • L9XSS
    L9XSS Posts: 438 Forumite
    Third Anniversary 100 Posts Mortgage-free Glee! Name Dropper
    Managed to sell one of our cars, so about 4K has gone into the emergency savings pot which I’m pleased about. Boiler was serviced and continues (fingers crossed) to work well (it’s 13 years old). Our old 2008 car (it’s a Volvo) continues on. Close to making Decembers payment and only next months council tax to pay before Feb/March non payments. Couple of days off before back to work on Friday, an overtime shift as well which is handy.
    so 4 more payments till next year then I’m MF or mortgage neutral. I’m looking hard at my pension investments to see if a better strategy is to become MN and focus on pension contributions into my SIPP. Decisions decisions........
  • savingholmes
    savingholmes Posts: 29,034 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Well done on the car sale. If you were further away from MF I would definitely review of pension options but given you are so close to MF I would just want it gone and deal with the pension after
    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 29/7/25
  • L9XSS
    L9XSS Posts: 438 Forumite
    Third Anniversary 100 Posts Mortgage-free Glee! Name Dropper
    That’s Decembers payment made, only 4 full payments left to go now. Car tax is due the end of this month, but can only budget for 6 months RFL.  Some Tesco club card vouchers to use against diesel for commuting to work. Completed some overtime in the run up to Xmas so that is paid mid January. Been a bit of a struggle the last few months if I’m honest, however this site has kept me focussed. Count your blessings as they say, first world problems. Some credit card debt £2000 has been moved with plan to pay down over the 0% interest period, otherwise I have no other debt.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.6K Banking & Borrowing
  • 253.3K Reduce Debt & Boost Income
  • 453.9K Spending & Discounts
  • 244.5K Work, Benefits & Business
  • 599.8K Mortgages, Homes & Bills
  • 177.2K Life & Family
  • 258.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture