We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

The Case of the Overwhelming Mortgage

Options
17810121318

Comments

  • savingholmes
    savingholmes Posts: 27,677 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Options
    £13K reduction is phenomenal. Well done. I sympathise with the EF / Savings. I'm trying to raise my standards - they say you get your musts but not your shoulds. So trying to set it as a must that I have at least £2K savings - once I master that - my next step is £3K and so on.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 235 payments to go - now £182,428 Equity 27.02%
    2) Spend on handyman & external building works & new patio door £13.45K
    3) CC £6.7K on 0% spends card but offset by £34.2K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £10.1K/£127.5K AVC target 8% value at 15/5
    5) FI Age 60 annual income target £13.7/30K 45.7%
    6) SIPP £4.1K
  • AgathaSquirrel
    Options
    Down to £5.29 interest per day.
    2017 - mortgage of £140,000 and interest rate of £10 a day
    Feb 2021 mortgage of £103000
    May 2021 mortgage of £100000
    July 2021 mortgage of £97000
    November 2021 mortgage of £93000
    July 2022 mortgage of £84000
    December 2022 mortgage of £79000
    December 2023 mortgage of £73000
    March 2024 mortgage of £70000
    May 2024 mortgagee of £68000
  • AgathaSquirrel
    Options
    Recovering from stupid Covid. Think someone else has my brain. Fitness has gone down the drain. 😡.Hopeful I’m still in recovery phase and this will improve.

    Paid soon, should manage an overpayment this week.
    2017 - mortgage of £140,000 and interest rate of £10 a day
    Feb 2021 mortgage of £103000
    May 2021 mortgage of £100000
    July 2021 mortgage of £97000
    November 2021 mortgage of £93000
    July 2022 mortgage of £84000
    December 2022 mortgage of £79000
    December 2023 mortgage of £73000
    March 2024 mortgage of £70000
    May 2024 mortgagee of £68000
  • Orangetoes
    Options
    Hope your recovery is quick x 
  • savingholmes
    savingholmes Posts: 27,677 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Options
    Hope you feel better soon.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 235 payments to go - now £182,428 Equity 27.02%
    2) Spend on handyman & external building works & new patio door £13.45K
    3) CC £6.7K on 0% spends card but offset by £34.2K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £10.1K/£127.5K AVC target 8% value at 15/5
    5) FI Age 60 annual income target £13.7/30K 45.7%
    6) SIPP £4.1K
  • AgathaSquirrel
    Options
    Overpayment made. Now down to £90,000. Next month should get down to below £90000 which is first goal and £50000 off original mortgage.
    2017 - mortgage of £140,000 and interest rate of £10 a day
    Feb 2021 mortgage of £103000
    May 2021 mortgage of £100000
    July 2021 mortgage of £97000
    November 2021 mortgage of £93000
    July 2022 mortgage of £84000
    December 2022 mortgage of £79000
    December 2023 mortgage of £73000
    March 2024 mortgage of £70000
    May 2024 mortgagee of £68000
  • savingholmes
    savingholmes Posts: 27,677 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Options
    Great progress. Fantastic.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 235 payments to go - now £182,428 Equity 27.02%
    2) Spend on handyman & external building works & new patio door £13.45K
    3) CC £6.7K on 0% spends card but offset by £34.2K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £10.1K/£127.5K AVC target 8% value at 15/5
    5) FI Age 60 annual income target £13.7/30K 45.7%
    6) SIPP £4.1K
  • greent
    greent Posts: 10,671 Forumite
    First Post Name Dropper First Anniversary Photogenic
    Options
    Fab progress!

    Hope you're feeling better now x
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NIL
    Net sales 2024: £20
  • glass_half_full
    Options
    Great progress !
    Aiming to early retire in April 2025 - DC pension currently £369k 
  • powerspowers
    powerspowers Posts: 1,134 Forumite
    First Anniversary First Post Name Dropper
    Options
    Wow! That’s amazing 
    MFW 2021 #76 £5,145
    MFW 2022 #27 £5,300 
    MFW 2023 #27 £2,000
    MFW 2024 #27 £1,850 / £3,600


Meet your Ambassadors

Categories

  • All Categories
  • 12 Election 2024: The MSE Leaders' Debate
  • 344.2K Banking & Borrowing
  • 250.4K Reduce Debt & Boost Income
  • 450.1K Spending & Discounts
  • 236.3K Work, Benefits & Business
  • 609.7K Mortgages, Homes & Bills
  • 173.6K Life & Family
  • 248.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards