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Dolly's Journey to Mortgage Freedom
Comments
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We started out with gifted second-hand furniture... It does the job...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 13/9/251 -
Same here, we once bought a new sofa 8 years ago, within the first month my sister spilt a glass of red wine over one of the chairs and my then 2 year old thought a blue pottery paint would look a lovely colour on it 😱 New bedroom furniture from ikea has so far stood the test of time!Good luck in your journey 🙂1
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I'll gladly take some hand me down furniture.
Oh I love Ikea. I have malm drawer and beside tables that I've had for years that will be moving with me.0 -
The only new thing my DGD bought was a desk as she needed one quickly to work from home. 7 months later, and she is going to sell it and replace it with a second hand one as she said it looks cheap and nasty compared to her other, solid wood furniture. Her flat looks really stylish and expensive!1
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I'm working from home so will need a desk. Will wait till I'm in though cos I need to figure out sizes for other furniture first.1
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Sitting waiting on the postman.Really hope I get my offer in this morning!
Will keep you posted.0 -
Post has been and no mortgage offer.
Hopefully tomorrow.0 -
Waiting for the postie again, fingers crossed it comes today.1
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Mortgage offer has arrived.
One special condition is that I pay of my credit card in full before completion but the balance on that is only £150.
I've emailed my solicitor to see what I need to do now.
First time buyer so I am not exactly sure how this all works.4 -
Hi! I bought my first house in august and I got my mortgage offer in February so don’t be too disappointed if nothing happens for quite a while. Have you instructed your solicitor and sent the first money for the searches? (I think that was around £400). They also send you forms to complete for anti money laundering checks, confirm your identity and ask for proof of funds.Good luck to you though! I remember how exciting it was when mine came through... then stressful when nothing happened... then I became resigned to that nothing was going to happen.. then after an emotional rollercoaster I owned the house!Now I’m at the obsessively calculating mortgage overpayment phase and last year feels like a lifetime ago! XxxMortgage started August 2020 £69,700
Mortgage ends Aug 2050 MFW: Aug 2027
Current Balance: £58,678
MFW2020 #156 £723.13
MFW2021 #26 £1184.71
MFW2022 #11 £197.87
MFW2023 £785
MFW 2024 £528.15Determined to make it!1
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