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Climbing the Mortgage Mountain step by step

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Comments

  • savingholmes
    savingholmes Posts: 29,051 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Sounds like it's all systems go and you are being very productive
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £172.5K Equity 36.11%
    2) £1.8K Net savings after CCs 13/9/25
    3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
    (If took bigger lump sum = 54.5K or 42.7%)
    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 13/9/25
  • Hi All

    We've dismantled the old faux leather bed from the spare room, the frame will be going to the tip, although we will keep the slats as spares and we will reuse the mattress on the new bed frame, that is due to be delivered today.  We will decorate the room before putting up the new bed.  The new shed is arriving on Friday so if the weather is kind we will try and tackle that project over the Bank Holiday weekend.

    We had the leftover roast on Monday, popped the potatoes in the airfryer to crisp them back up and it was all lovely.  Last night we had some really think, smoky bacon from a cooking bacon pack, fried up with mushrooms and topped with leftover stilton served on a jacket potato with some salad, that was really tasty.  Tonight will probably be a curry or something along those lines to use up the remaining roast chicken.

    I did order some frozen pizza dough yesterday, in the hope that we finally get some good weather and can use the pizza oven, crossing my fingers!  Oh and another delivery of chicken breasts from my usual supplier, I will split the box with DS and his family.

    Food shopping tomorrow night and then DD will be home for the long weekend, she has a trip planned with her best friend so we won't see a lot of her.  We do need to sort out when we are moving her back home, that way she can also let her summer job know her start date.

    I've checked my budget and I don't think I can stretch to the additional payment to the mortgage this month which is a shame as if I can do that every couple of months I will move through the £1000s a lot quicker!  Maybe I'll use some of my savings pot for the psychological boost! :wink:

    Must go another busy day ahead!

    MvTMM
    Mortgage (Nov 20- NOV 39)  originally £130,999 (Interest only) NOW £102,322 (approx 78% equity)
    Over payments 2020 £750/£750 (Mortgage payments only start Dec 2020)
    Over payments 2021 £9,000 /£9,000  Over payments 2022 £7,629/£9,000 (£1,371 short of target)
    Over payments 2023 £2,620/£9,000 (£6,380 short of target)  Over payments 2024 £5,406/£11,000
    Over payments 2025 £3,272/£5,600  (fix rate exp Dec 2025)
    Loan £12229
    Total Savings £4776
    Premium Bonds - £988
    YBS Xmas Regular Saver - £1350

  • savingholmes
    savingholmes Posts: 29,051 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Sounds busy as ever. Hope you get to use your pizza oven.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £172.5K Equity 36.11%
    2) £1.8K Net savings after CCs 13/9/25
    3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
    (If took bigger lump sum = 54.5K or 42.7%)
    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 13/9/25
  • Hi All

    Absolutely drenched here today, been torrential all night, woke up to 2 leaks in the entryway but none in the conservatory so I text my roofer to remind him he promised to come round this weekend.

    My pizza dough balls arrived yesterday and safely stowed in the freezer waiting for some sunshine!

    Bed frame also arrived yesterday and shed being delivered today, we're going to be busy!!

    We popped to DS's last night, picked up the dust sheets etc that they had borrowed.  Saw the puppy, he's definitely getting bigger and stronger, he's gorgeous!

    My longest friend is over for a few days, she lives in ROI, so we will catch up this weekend and DH and I are planning on seeing a band tomorrow night which will start the Bank Holiday weekend off nicely.

    DD is home tonight, we need to do the shopping and maybe have fish n chips afterwards and then I will make a cheese and tomato pasta bake for tomorrow night as it is DD's favourite and it will be an easy dinner with us going out.

    Have a great day all

    MvTMM
    Mortgage (Nov 20- NOV 39)  originally £130,999 (Interest only) NOW £102,322 (approx 78% equity)
    Over payments 2020 £750/£750 (Mortgage payments only start Dec 2020)
    Over payments 2021 £9,000 /£9,000  Over payments 2022 £7,629/£9,000 (£1,371 short of target)
    Over payments 2023 £2,620/£9,000 (£6,380 short of target)  Over payments 2024 £5,406/£11,000
    Over payments 2025 £3,272/£5,600  (fix rate exp Dec 2025)
    Loan £12229
    Total Savings £4776
    Premium Bonds - £988
    YBS Xmas Regular Saver - £1350

  • savingholmes
    savingholmes Posts: 29,051 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Hope the band was good. Hope you managed to get the leaks fixed too. 
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £172.5K Equity 36.11%
    2) £1.8K Net savings after CCs 13/9/25
    3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
    (If took bigger lump sum = 54.5K or 42.7%)
    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 13/9/25
  • Hi All

    Been a week or so since I posted.

    Last weekend didn't really go to plan, didn't get the spare room painted, although we did take the old bed to the skip. I stripped the wallpaper, filled and sanded the walls so the prep work is done.  We will get it done this weekend, I need to get the house back to normal and the mattress out of the hallway!! Also need to reseal the sandstone patio and path, that's a fairly quick and easy job, we can them get the patio furniture out for the summer.  I also want to light the pizza oven and dry that out, it's the stone type that can crack if we go straight in full pelt with a hot fire so a small gentle heat is needed first.

    Roofer has been out, nothing obviously wrong so just going to reseal any joints but can't do that for a few weeks as working out of area, shouldn't be too expensive.

    I managed to catch up with my friend twice whilst she was visiting so that was lovely and the band were excellent as always.

    I did make an extra payment to the mortgage, balance now in the £108Ks, took the £200 from savings as a little boost at clearing another £1000, really would like to get below £100k this year, just don't know how feasible that is.

    We have both been walking to work this week, only need to leave home 15 minutes earlier, the exercise is definitely needed and I strangely enjoy it, it is too easy to jump in the car!

    Have a fab weekend all

    MvTMM




    Mortgage (Nov 20- NOV 39)  originally £130,999 (Interest only) NOW £102,322 (approx 78% equity)
    Over payments 2020 £750/£750 (Mortgage payments only start Dec 2020)
    Over payments 2021 £9,000 /£9,000  Over payments 2022 £7,629/£9,000 (£1,371 short of target)
    Over payments 2023 £2,620/£9,000 (£6,380 short of target)  Over payments 2024 £5,406/£11,000
    Over payments 2025 £3,272/£5,600  (fix rate exp Dec 2025)
    Loan £12229
    Total Savings £4776
    Premium Bonds - £988
    YBS Xmas Regular Saver - £1350

  • savingholmes
    savingholmes Posts: 29,051 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You guys live close to work then! Well done on the walking. 

    Good luck with finishing off the bedroom.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £172.5K Equity 36.11%
    2) £1.8K Net savings after CCs 13/9/25
    3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
    (If took bigger lump sum = 54.5K or 42.7%)
    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 13/9/25
  • Hi All

    Yes @savingholmes, we both work an easy walking distance from home, which is great, DH used to have to drive 25 miles to Big Town each day, which due to the country roads and traffic could take an hour or more so we really appreciate not having to be car reliant.  Plus on sunny days like Friday we can meet after work and have a cheeky pint in a beer garden before walking home!

    We had a really productive weekend, managed to reseal the sandstone patio and paths and put all of the furniture back in place (4 sofas, 4 chairs, 2 footstalls and 4 tables/storage boxes!!), it looks lovely and all ready for summer.  We dried out the pizza oven on Friday night and my Dad popped round to show us his new mobility scooter, he is so happy to be back on 4 wheels, even if it's not a car.  Saturday we took more rubbish to the skip and painted the ceiling, walls and wood work in the spare room, then made pizzas in the garden.  Sunday we wallpapered the feature wall, shampooed the carpet and put the new bed together, I am really pleased with the result, it looks so fresh and welcoming and the bed is really sturdy and comfortable, plus the only thing we have had to pay for is the £100 bed frame the rest is all stuff we had in  the garage.  Sunday night I made us a chicken and salami stew we had seen on a cookery program with olives, wine etc in, I had everything in our stocks, it was delicious and there was enough for Monday too.  Last night we had frozen pizzas and for tonight I have taken some Venison stew out of the freezer :smile:

    Have a great Wednesday

    MvTMM
    Mortgage (Nov 20- NOV 39)  originally £130,999 (Interest only) NOW £102,322 (approx 78% equity)
    Over payments 2020 £750/£750 (Mortgage payments only start Dec 2020)
    Over payments 2021 £9,000 /£9,000  Over payments 2022 £7,629/£9,000 (£1,371 short of target)
    Over payments 2023 £2,620/£9,000 (£6,380 short of target)  Over payments 2024 £5,406/£11,000
    Over payments 2025 £3,272/£5,600  (fix rate exp Dec 2025)
    Loan £12229
    Total Savings £4776
    Premium Bonds - £988
    YBS Xmas Regular Saver - £1350

  • savingholmes
    savingholmes Posts: 29,051 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Sounds like you got loads done and had the benefit of tasty food too.

    Good that your DAD has more independence back too.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £172.5K Equity 36.11%
    2) £1.8K Net savings after CCs 13/9/25
    3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
    (If took bigger lump sum = 54.5K or 42.7%)
    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 13/9/25
  • Hi All

    Sorry for the prolonged absence, it has been a busy few weeks and very spendy but all pre-planned!

    DH and I had a week off and managed to balance having some nice relaxing times with emptying and demolishing the old greenhouse (scary taking out all of those glass panels, especially the roof!!), laying a nice LEVEL concrete slab base and building the new shed, it looks so lovely and we took the opportunity to do some serious garden decluttering!  I had my hair cut and finally had my seconds pierced on my ears (been trying to pluck up the courage for years!).  DH and I ticked off a Bucket List item and went on the last remaining sea going paddle steamer for a nice day trip along the coast, we actually struck lucky and had beautiful weather.  We have also had the flooring guy out for a quote to do laminate or something similar all through the lounge and hallways and new vinyl in the kitchen and bathrooms, know that's going to be £££.

    Since our week off I have also been to 3 (Yes, greedy I know) concerts, Pink and Take That with my best friend and then a lesser known band my daughter wanted me to go see with her, they were brilliant fun!

    Our roofer has been out and hopefully sorted the conservatory and porch leaks, he was only and the house for 1-2 hours so fingers crossed won't cost too much.  We can crack on and repair and redecorate those spaces now, again we should have everything we need in the garage.

    This weekend Hubby and I are going to Devon for a night, it's our Wedding Anniversary and we are staying in the place we got engaged, so excited as we love it there, we're also going to meet up with an old friend who lives in that area.  Next weekend we are visiting family, things should calm down after that and I will be focused on rebuilding the savings pots which have been severely depleted.

    I am wfh next week so will not be spending as on call.  Will take the opportunity to do some sorting, get out in the sun and perhaps even do a mid week pizza evening with the kids, but most of all NOT SPEND!

    Have a great day and enjoy the weekend.

    MvtMM
    Mortgage (Nov 20- NOV 39)  originally £130,999 (Interest only) NOW £102,322 (approx 78% equity)
    Over payments 2020 £750/£750 (Mortgage payments only start Dec 2020)
    Over payments 2021 £9,000 /£9,000  Over payments 2022 £7,629/£9,000 (£1,371 short of target)
    Over payments 2023 £2,620/£9,000 (£6,380 short of target)  Over payments 2024 £5,406/£11,000
    Over payments 2025 £3,272/£5,600  (fix rate exp Dec 2025)
    Loan £12229
    Total Savings £4776
    Premium Bonds - £988
    YBS Xmas Regular Saver - £1350

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