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Powers’s mortgage free thread

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  • savingholmes
    savingholmes Posts: 28,971 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    It's good to keep a list - I'm scared by the answers when I do mine...
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £174.8K Equity 32.77%
    2) £2.6K Net savings after CCs 6/7/25
    3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
    4) FI Age 60 income target £16.5/30K 55.1%
    5) SIPP £4.8K updated 29/7/25
  • powerspowers
    powerspowers Posts: 1,337 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    Quick money news:
    Saturday was quite spendy
    Baby shower craft £19
    food £16
    bus fare £2
    chemist £8.50

    ive managed to not spend anything since! I’ve got £34 left in my current account. It’s Ts birthday on Saturday, I don’t have to do a present as we are going away next week but I will probably treat him over the weekend. I’m not going to spend more than £34 before I get paid on Thursday. 

    Joint account, I’ve redirected the payments that don’t come out in feb and March, £100 to extension pot, £50 to quick access savings and £35 towards mortgage. Joint pot is looking healthy as we haven’t really done a big shop since Xmas. 

    A money win is that I did a bank recharge for some of the train tickets from my trip last year. I’ve had a dispute open with the French train company since august and it wasn’t going anywhere. Hsbc did the recharge in a day and I had £757 in my account! Not my money but a weight off my shoulders. 

    Plan today is essay writing and running club later. It’s another cold but beautiful morning 🌅 🧊 
    MFW 2021 #76 £5,145
    MFW 2022 #27 £5,300 
    MFW 2023 #27 £2,000
    MFW 2024 #27 £6,055
    MFW 2025 #27 £2,350 /£5,000


  • savingholmes
    savingholmes Posts: 28,971 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Nice win on the recharge 
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £174.8K Equity 32.77%
    2) £2.6K Net savings after CCs 6/7/25
    3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
    4) FI Age 60 income target £16.5/30K 55.1%
    5) SIPP £4.8K updated 29/7/25
  • powerspowers
    powerspowers Posts: 1,337 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    Managed a no spend weekend and a meat free Sunday  🥦 

    T has a good birthday, cake for breakfast and a long bike ride in the Peak District, chilly but pretty ❄️ 🚲. Today has been a chilling and jobs kid of day, with a few is walk this pm. 
    MFW 2021 #76 £5,145
    MFW 2022 #27 £5,300 
    MFW 2023 #27 £2,000
    MFW 2024 #27 £6,055
    MFW 2025 #27 £2,350 /£5,000


  • powerspowers
    powerspowers Posts: 1,337 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    Meat free Monday 🥦 
    MFW 2021 #76 £5,145
    MFW 2022 #27 £5,300 
    MFW 2023 #27 £2,000
    MFW 2024 #27 £6,055
    MFW 2025 #27 £2,350 /£5,000


  • savingholmes
    savingholmes Posts: 28,971 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Glad you had an enjoyable weekend. Very cold to be out cycling. 
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £174.8K Equity 32.77%
    2) £2.6K Net savings after CCs 6/7/25
    3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
    4) FI Age 60 income target £16.5/30K 55.1%
    5) SIPP £4.8K updated 29/7/25
  • powerspowers
    powerspowers Posts: 1,337 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    Regular OP of £110
    no council tax or water this month so £45 OP and £150 in house savings
    Refund of £25 redirected to mortgage 
    total OPs for Feb £170 😃
    MFW 2021 #76 £5,145
    MFW 2022 #27 £5,300 
    MFW 2023 #27 £2,000
    MFW 2024 #27 £6,055
    MFW 2025 #27 £2,350 /£5,000


  • powerspowers
    powerspowers Posts: 1,337 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    Woohooo mortgage now under £100k!! £99,909 to be precise 😁😁😁😁😁

    based on current house prices I’m going to say we own half our home 🏡 ❤️ 

    Fuller update to come 😀
    MFW 2021 #76 £5,145
    MFW 2022 #27 £5,300 
    MFW 2023 #27 £2,000
    MFW 2024 #27 £6,055
    MFW 2025 #27 £2,350 /£5,000


  • misslolu
    misslolu Posts: 236 Forumite
    Sixth Anniversary 100 Posts Name Dropper
    That's amazing, congratulations!
  • South_coast
    South_coast Posts: 5,868 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper Photogenic
    Excellent work, well done you 😀!
    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!!!
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