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Aiming for Mortgage Free!

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  • rugbymadfamily
    rugbymadfamily Posts: 505 Forumite
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    edited 10 August 2021 at 11:10PM
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    Finally got new phone and mobile banking sorted. Phew! Did well on holiday and came in just over budget which was good. 

    Made another OP on the mortgage today, £1,200 so was pleased with that. It's such a big amount of money...but is only 0.3% of the mortgage balance 😫 but every bit helps that's what I have to keep reminding myself! Be under £310k next month though which is another milestone so still on track to start with a 2 by the 31st Dec!
    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 ✅
     
  • savingholmes
    savingholmes Posts: 27,677 Forumite
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    That's one huge mortgage. You are making great inroads though
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 235 payments to go - now £182,428 Equity 27.02%
    2) Spend on handyman & external building works & new patio door £13.45K
    3) CC £6.7K on 0% spends card but offset by £34.2K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £10.1K/£127.5K AVC target 8% value at 15/5
    5) FI Age 60 annual income target £13.7/30K 45.7%
    6) SIPP £4.1K
  • rugbymadfamily
    rugbymadfamily Posts: 505 Forumite
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    edited 12 August 2021 at 10:52AM
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    Yeah its fairly sizeable (does give me nightmares sometimes lol) given it's a modest 3 bed house....but we live in London so it's expensive. All the more reason to keep the OPs up so we can get it down to a more reasonable size just in case anything goes wrong!

    Went to my new office for the first time this week which was very odd...not been in central London in forever. Nice space and well located, far too many tasty food and coffee places around though so am going to need to be disciplined with bringing my lunch!!
    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 ✅
     
  • savingholmes
    savingholmes Posts: 27,677 Forumite
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    Hopefully you are well enough MSE trained now to be let out near the tasty food places. I must admit it is just as well I'm not near them as I would find them hard to resist too.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 235 payments to go - now £182,428 Equity 27.02%
    2) Spend on handyman & external building works & new patio door £13.45K
    3) CC £6.7K on 0% spends card but offset by £34.2K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £10.1K/£127.5K AVC target 8% value at 15/5
    5) FI Age 60 annual income target £13.7/30K 45.7%
    6) SIPP £4.1K
  • rugbymadfamily
    Options
    That is definitely the plan, not to be tempted (well at least not too often!). Think will be in the office 2-3 days a week so think will do one bought yummy lunch a fortnight as my treat.

    Am looking forward to the weekend, off to meet a friend who had a baby a few months ago that i havent met yet so picked up a few baby bits in M&S but got thoroughly confused by all the choice 😂 thankfully there was a lady there with her baby so she gave me some good advice on practical present choices!! 

    Got some good cycling in this week and a run, got some more planned for the weekend which should be good.
    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 ✅
     
  • South_coast
    South_coast Posts: 5,006 Forumite
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    Ooh, helpful lady in the baby section sounds good! I'm dreadful with too much choice, you should see me in the wine aisle 🤣! And when looking at holidays 🤯🤯🤯!
    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!!!
  • savingholmes
    savingholmes Posts: 27,677 Forumite
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    Sounds like a positive trip and some things to look forward to
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 235 payments to go - now £182,428 Equity 27.02%
    2) Spend on handyman & external building works & new patio door £13.45K
    3) CC £6.7K on 0% spends card but offset by £34.2K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £10.1K/£127.5K AVC target 8% value at 15/5
    5) FI Age 60 annual income target £13.7/30K 45.7%
    6) SIPP £4.1K
  • rugbymadfamily
    Options
    Ooh, helpful lady in the baby section sounds good! I'm dreadful with too much choice, you should see me in the wine aisle 🤣! And when looking at holidays 🤯🤯🤯!
    Glad it's not just me lol, give me 3 options and I can make a decision....30 options and I just flap 😂

    Had lovely baby cuddles, she's less than a month old so was very squishy and adorable!

    Went out Fri night for my brothers birthday, he has expensive tastes so it was an expensive evening, enjoyable but definitely over priced drinks! Rest of weekend should be cheap so it all balances out I guess.
    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 ✅
     
  • savingholmes
    savingholmes Posts: 27,677 Forumite
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    Babies are adorable... when you get to give them back LOL. 
    Ouch to the expensive night out but after the year or so we've all had I suppose it balances out a little.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 235 payments to go - now £182,428 Equity 27.02%
    2) Spend on handyman & external building works & new patio door £13.45K
    3) CC £6.7K on 0% spends card but offset by £34.2K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £10.1K/£127.5K AVC target 8% value at 15/5
    5) FI Age 60 annual income target £13.7/30K 45.7%
    6) SIPP £4.1K
  • LadyWithAPlan
    LadyWithAPlan Posts: 2,320 Forumite
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    Went to my new office for the first time this week which was very odd...not been in central London in forever. Nice space and well located, far too many tasty food and coffee places around though so am going to need to be disciplined with bringing my lunch!!
    Have a look at TOO GOOD TO GO app when you are central - so many places doing offers on it every day
    There will always be a (beautiful stilettoed) foot in fabulous in LaPlan's life.
    I am choosing to be fabulously frugal to support some wonderful life changing and affirming financial goals including buying a London home I love.

    DON'T BUY STUFF (from Frugalwoods)
    No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things. You can’t really hack your way to frugal. You can and should take advantage of discounts, coupons, rewards points, and the like. But at the end of the day, the only way to truly save money is to not buy stuff.    Money doesn’t walk out of your wallet on its own accord.

    My March  streaks to track
    Track Minimalist game  items (Nov 310)   (Dec  95)  (Jan 90)   Feb 50
    Exercise streak  
    YNAB days:: Target 50 days -Age of money 29
    Track my NSD's - Target 13 days/ 0/13

    https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest
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