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Aiming for Mortgage Free!
Comments
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Nice to build a savings pot for funAchieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.8K Equity 36.37%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
(If took bigger lump sum = 60.35K or 47.6%)
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 £5K updated 10/10/250 -
Yes it is, not often we get a chance. And think we all deserve some fun when this is all over!!!savingholmes said:Nice to build a savings pot for funCurrent mortgage (1 Jun 2022): £289,501 - originally £351,999 got to love London sized mortgages!
OP Goal 2022 = 3.75% in OPs: £6,975 / £13,200
Emergency Fund Target: 3 months saved ✅
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Yes I agree we all need a “fun fund” for when things get better and restrictions lift! @rugbymadfamily2
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Had a really nice and very productive weekend. Got our decorating finished which is great. Now just need to buy a curtain rail and sew some curtains, then it's all finished!
Got a food shop done (still coming in over budget on this category - may have to increase it during lock down as we enjoying a few extra treats!) and another £75 in sales from a few bits round the house, money in and de-cluttering is a winwin.
This week going to be a tough one, have final job interview for the role I really want and another first interview for a different role....could have a new job by the end of the week....keep your fingers crossed for me!
Current mortgage (1 Jun 2022): £289,501 - originally £351,999 got to love London sized mortgages!
OP Goal 2022 = 3.75% in OPs: £6,975 / £13,200
Emergency Fund Target: 3 months saved ✅
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🤞🤞🤞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 -
Woohoo on the interviews. Sounds excitingAchieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.8K Equity 36.37%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
(If took bigger lump sum = 60.35K or 47.6%)
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 £5K updated 10/10/251 -
Interview went well, at least I think it did! Hopefully will find out more, but they said maybe not until the end of next week...and I am far too impatient to wait that long (not one of my better qualities lol). Not putting all my eggs in one basket though, have other interviews lined up as well just in case.
Been an expensive month with all the decorating and there is always something else needed just to finish it off! But will look great and is so much more homely than before so I am pleased, just need to not let my husband go to B&Q alone as he spends a fortune lol.
Am inventorying the freezer again as lost track before and its chocka block full so obviously plenty to eat from there so next food shop is not to be done until checked it all and made a menu based on what we have.
No other excitement here lol, suspect it's the same with everyone?!
Current mortgage (1 Jun 2022): £289,501 - originally £351,999 got to love London sized mortgages!
OP Goal 2022 = 3.75% in OPs: £6,975 / £13,200
Emergency Fund Target: 3 months saved ✅
4 -
It sounds pretty exciting to me!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 -
Glad the interview went okay. Good luck with the other job applications too.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.8K Equity 36.37%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
(If took bigger lump sum = 60.35K or 47.6%)
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 £5K updated 10/10/251 -
Thanks both! Haha yes enough excitement for now, especially given how busy work is at the moment!Current mortgage (1 Jun 2022): £289,501 - originally £351,999 got to love London sized mortgages!
OP Goal 2022 = 3.75% in OPs: £6,975 / £13,200
Emergency Fund Target: 3 months saved ✅
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