2021 Mortgage-Free Wannabes

glass_half_full

#55 reporting a final OP of £7,200 today which clears my mortgage!
Thanks Julicorn for this challenge which has kept me focused on the goal. Good luck to you all.

ilselm

julicorn said:

ilselm said:

Hello everyone. #24 here. Have squeezed another £7,700 into the mortgage account. This makes a total of £8,950 for July and have hit another couple of milestones along this crazy mortgage free journey. Outstanding balance now at 10% of the original 250k borrowed amount and LTV now below 4%. By my reckoning, the bank probably owns the downstairs loo and everything else is now ours! 8.5 years in and about another 18-24 months to go. We’re also fortunate in that this outstanding balance is now fully offset with a linked cash savings account so every pound paid goes against the capital and not interest. There’s definitely light at the end of the tunnel and am certain it’s not an oncoming train 😀 Onwards and downwards. Thanks,

That sounds absolutely fantastic, you're so close to the end now! Must be a great feeling  

Many thanks. It’s been - and still is - quite a journey. These challenges have certainly helped motivate and inspire, especially hearing about others’ tips and tricks to stay the course.

ilselm

glass_half_full said:

#55 reporting a final OP of £7,200 today which clears my mortgage!
Thanks Julicorn for this challenge which has kept me focused on the goal. Good luck to you all.

Awesome! Well done 👍 

jennystarpepper

glass_half_full said:

#55 reporting a final OP of £7,200 today which clears my mortgage!
Thanks Julicorn for this challenge which has kept me focused on the goal. Good luck to you all.

Congratulations

f0xh0les

glass_half_full said:

#55 reporting a final OP of £7,200 today which clears my mortgage!
Thanks Julicorn for this challenge which has kept me focused on the goal. Good luck to you all.

Congratulations !!!!!!!!

stavromueller

Congratulations glass_half_full!

No35 reporting £1406.37 for July

mark55man

julicorn said:

mark55man said:

Hi Julicorn

#57 reporting back as of 28/06.  

.. snip

Hi there! If you have a minute, could you do me a favour and have a look at what I have logged for you on the spreadsheet, and how that compares to your own records? My total and yours are a fair bit apart, so it would be great if you could let me know what addition you'd like me to log for each month. Thank you!

@julicorn I think the problem my be your records are 2021 and mine are since inception.  I will try and be clearer (see below) and then maybe we can see if there is a problem.  Also, my totals include some small investment returns so it may not be literally a roll up of the contributions.  I'm just happy to be accountable so if I'm making it difficult for you then please do what's easiest for you - up to not tracking. 

My analysis of the spreadsheet suggests if you added £1400 in June and £1700 in July.  Your total and my total for 2021 will be the same

End of July report - As a reminder my approach (as an older poster who finally got the OP message but with quite limited OP opportunities) is through using my pension pot to build up a Mortgage Neutral pot (DIY offset, with tax and company contribution advantages) that I can then use to pay down the mortgage 

• I have added an £13.5k to my MN pot since I started, £1700 in July, £11801 since 1/1/21
  
• My Mortgage Balance is £93.3K  
• I am now £79.8K away from being Mortgage Neutral
  
• Current target for Mortgage Neutral is still Jun-23

I hope that's clear - I know I'm not normal,

  

Maybe_its_because

Hi there,

Just popping in to record a £250 OP for July.

We’re still some way behind target but staying positive and continuing to chip away 1 OP at a time 

thanks for the motivation 

MIB x

Gaffs_gaff

Hello Julicorn,

#54 overpayment of £420 for July please.

thank you x

Boatright

Hi Julicorn! 

#128 £400 for July! 

Thank you