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Dipping my orange toes into the water..

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Comments

  • savingholmes
    savingholmes Posts: 29,034 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    LOL at being an hour early. That would be me - or more likely an hour late. LOL at the house being a tip too... so can relate. 

    Good luck with the park run. T-shirt sounds a nice reward!
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £172.5K Equity 36.11%
    2) £1.6K Net savings after CCs 14/8/25
    3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
    (If took bigger lump sum = 53.3K or 41.8%)
    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 29/7/25
  • Orangetoes
    Orangetoes Posts: 361 Forumite
    Fifth Anniversary 100 Posts Name Dropper
    And just like that it is December. Whole family has a cough and a cold ugh!
    House a mess, weight disastrous...but finances are ticking along well. Can't believe it will be 2023 soon!!
  • Orangetoes
    Orangetoes Posts: 361 Forumite
    Fifth Anniversary 100 Posts Name Dropper
    Total at start of year: £289,999.99
    Current total: £254,599.99
    Total reduction this year: £35,400
  • South_coast
    South_coast Posts: 5,936 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper Photogenic
    Wow, that is some reduction 👍 You must be so pleased!
    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!!!
  • Orangetoes
    Orangetoes Posts: 361 Forumite
    Fifth Anniversary 100 Posts Name Dropper
    Thanks @South_coast it is a beast of a mortgage but yes, it does feel like good progress. It will be great to get it under 250 early next year. 
  • savingholmes
    savingholmes Posts: 29,034 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Amazing results.

    Hope your health improves quickly 
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £172.5K Equity 36.11%
    2) £1.6K Net savings after CCs 14/8/25
    3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
    (If took bigger lump sum = 53.3K or 41.8%)
    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 29/7/25
  • Orangetoes
    Orangetoes Posts: 361 Forumite
    Fifth Anniversary 100 Posts Name Dropper
    Thanks @savingholmes letter from mortgage company saying 6 months until fix ends and if we do nothing rate will be 6.7%! 
    Also add that they have provided us with advice on what to do next...only advice on letter was what that relate will be if we do nothing. No mention of what we could do to get a better rate!!
  • savingholmes
    savingholmes Posts: 29,034 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    L&C link from on here will be able to give you a quote of what kind of deals you can get. MSE have just posted a new article about it too.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £172.5K Equity 36.11%
    2) £1.6K Net savings after CCs 14/8/25
    3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
    (If took bigger lump sum = 53.3K or 41.8%)
    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 29/7/25
  • Orangetoes
    Orangetoes Posts: 361 Forumite
    Fifth Anniversary 100 Posts Name Dropper
    Sorry to be dense what is L and C?

    Couple of overpayments from the OH brings us down to ..
    £253,655.18
    Can't wait to be under that 250k barrier. 

    Stockings all wrapped - earliest ever and only a few more little bits to get. Feeling smug about that. Although haven't done the food shop yet! 
  • savingholmes
    savingholmes Posts: 29,034 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    London and country mortgage broker
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £172.5K Equity 36.11%
    2) £1.6K Net savings after CCs 14/8/25
    3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
    (If took bigger lump sum = 53.3K or 41.8%)
    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 29/7/25
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